Buying a car is a big financial decision for anyone. The investment and potential benefit of the vehicle make you think carefully both about the car you choose and the way you will pay for it. Most people don't have the cost of a vehicle in their savings, so the question turns to finance. Should you save up carefully for a car and pay in cash, or is it better to get an auto loan?
Whether you pay cash or get a loan for your vehicle is more than an issue of money or principle. It's also a matter of strategy, interest rates, your credit score and your personal approach to finances.