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Updated about 6 years ago on . Most recent reply

Ada Tor's profile image
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Ada Tor
  • Member since Sep 25, 2018
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Ada Tor's profile image
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Ada Tor
  • Member since Sep 25, 2018
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Ada Tor
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Personal Finance

Cash vs loan on a used vehicle?

Ada Tor
Posted

I am looking to upgrade my car, spending about 50K. I have an option to pay cash or take out a loan at 2.99% rate. Which is more preferable?

Seems like cash will keep my DTI ratio lower than taking out a loan, but it's a considerable chunk of change that could be used as a downpayment on an investment property.

What would you recommend?

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Jaysen Medhurst's profile image
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Jaysen Medhurst
  • Rental Property Investor
  • from Greenwich, CT
  • Member since Aug 18, 2015
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Jaysen Medhurst's profile image
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Jaysen Medhurst
  • Rental Property Investor
  • from Greenwich, CT
  • Member since Aug 18, 2015
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

@Ada Tor, I recommend not buying a $50k car. Choosing to spend that much on a depreciating asset instead of investing in a rental property is a bad financial decision. 

  • Jaysen Medhurst
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