The Most Financially Savvy Way To buy a Car?

[Ibrahim Hughes]

Hi all. I figure I'd check in with the financially savvy folks of BP to see what is the best way to purchase a car. I'm not looking for a brand new car but a good used one that's maybe two to three years old?

I know there are some methods out there in terms of taking over someone's payments? And I know there's some websites that cater to this. Is that financially prudent for someone whose looking to buy and has the cash to pay off a car? I'm looking to do something that might save me the most money yet allow me to end up with a free and clear car. Or maybe a minimum amount in payments but I could knock out in a year or two. Anyone with any advice?

[Kevin Brown]

Not sure why anyone here would say cash. A car loan can run as low as 0% and each and everyone of us who actively invest is turning 15-30% returns on our cash. It makes 0 sense to dump money that could make you significant returns into a car that makes you nothing. Get a good rate and use your money to make more money. .