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> Buying New Car: Loan or Full Settlement?, Need Advice

What are your suggestion to buy the new car?
 
Take car loan [ 25 ] ** [67.57%]
Full settlement/payment [ 12 ] ** [32.43%]
Total Votes: 37
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xAmdx
post Feb 20 2020, 01:50 PM

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Joined: Oct 2004


QUOTE(Desch @ Feb 20 2020, 01:45 PM)
I have been working for several years.
Being thrifty, I have been able to save up $$$ over the years.
Currently using 2nd-handed Kancil.
I plan to purchase Perodua Axia (cost ~ RM 3X k) by this year.

I would like to seek advice/opinion from you all.
If you have more than enough savings to purchase a car without loan, after buying the car you still have sufficient $$$ to handle family emergencies just in case.
Do you prefer take loan then invest the $$$ in FD or others,
or settle with full payment for the car?
And what are your reasons?

I appreciate your opinion/advice.
Thank you.
*
I share the same situation as you but IMO, I will go for car loan but not max 90%. Maybe 60-70% loan, reason behind is new car interest is low and you can keep the money in the saving/FD/investment or save it for raining days. I choose this also I want to build up my credit rating with the banks as I do not have credit card or any loan. Its make me harder to get house loan in future.

 

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