Are you looking to buy a new car? Should you buy make full payment or take a loan? CNBC-TV18’s Sonal Bhutra and Mangalam Maloo discussed this further.
If one has money in the bank account, which is giving 12 percent interest and the car loan is available at 7-9 percent, then it is better to take a loan and earning the money on the capital.
One should go to the dealer first, ask them for financing options. Sometimes the buyer gets a discount on paying all the money upfront. If the discount is good enough then one should go for paying the money upfront, else take a loan.
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