Can a vehicle loan be better than paying cash?

When shopping for a car, one is faced with many decisions.  Perhaps the most important decision to be made is how to pay for that car. For those who have the resources to pay cash for a car, it may not always be the best option, according to a recent post from MSN Money.

If paying cash is a possibility for you, the post brings up a number of factors to consider.  You will want to consider your credit score, and how a vehicle loan will affect it.  You should also look at how much money you have saved, whether or not you have an emergency fund, and what kind of interest rate you qualify for.

The friendly staff at First Castle FCU can help you decide which option is best for you. First Castle offers great rates on new and used vehicle loans, and can help you determine what you can afford before you begin your search.  First Castle also offers vehicles for sale with special interest rates.

Click here to apply online, or call us today at (985) 867-8867.

“Why a car loan can beat paying cash” by MSN Money Partner. Retrieved from: https://money.msn.com/saving-money-tips/post.aspx?post=2b68a16b-268f-46fb-a7fd-247bad720b9b on 7/23/2012.

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