What is better, to pay cash for a vehicle vs. finance? I know this is a very broad question and most would automatically say that paying cash is always the better way to go.
Yes, it’s good to have the ability to walk into a car dealership and write a check in full for a $70,000 truck, but let’s be real.
Most of us don’t have that kind of everyday cash even for a $20,000 vehicle.
So in most cases we are not only wanting to finance a vehicle, that’s the only option.
Most people see financing a vehicle as a negative thing, when in all reality, it can be a great thing.
I had the opportunity to see a very wealthy man who could virtually walk into any dealership and purchase just about any vehicle.
However, he couldn’t finance anything on the lot because he had always paid cash for everything he owned.
He had no credit to his name to finance.
The cool thing about financing a vehicle is that it is the single best and quickest way to build credit.