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Updated about 2 years ago on . Most recent reply
Buy car cash, or finance and use cash to invest?
Thank you for reading my question.
I have been saving up cash to buy a truck, which I'd be using for both business and personal purposes. Assuming I can get a good rate on auto financing, wondering if it would make more sense to use that cash towards getting my next brrrr, and just borrowing the money to buy the truck instead.
I have been trying to reduce my personal debt and am down to only the mortgage on my personal residence. This seems like a way to get both the new vehicle and perhaps close my next deal, but I also want to make sure I'm not just talking myself into more personal debt. I have high W2 income, and have no problem handling the payment on the vehicle.
I don't really mind paying cash for the vehicle, except that I could instead increase my ability to purchase the next brrrr. I'm trying to take advantage of buying in cash.
Would love to hear people's opinions on this as well as what other factors I should consider as I weigh the options. Thank you for taking a look.
Most Popular Reply
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Save cash for the BRRRR! - an appreciating asset outweighs a depreciating asset.