Get a car loan or pay cash? That’s a question that many people ask themselves when they’re looking to buy a car. There are many financial experts out there who advocate paying cash for everything and staying out of debt entirely, and there are many more that advocate smart use of credit. Because everyone’s financial circumstances differ, a black-and-white answer is hard to come by.
But, since we’re Carloan.com and we specialize in helping people get car loans, even with bad credit and no credit, we’re going to take the side of smart credit use. Here are the top 5 reasons not to pay cash for your next car: