Should we buy a car on Cash or EMI ? Cash or Emie Which is better?
This is how you can save 4-8% while buying a car..
The most popular choice when buying a car is to take out a car loan, and only a small percentage of people genuinely think about buying a car with significant funds. Personally, I think that if you basically have the money saved up to buy a car for the most part,
you should put it mostly in securities that can yield 12–13% returns and, for the most part, take out a loan to actually purchase the automobile, or so they believed. They believed that car loans were often simple to obtain at an interest rate of 8%. They believed you could easily earn 3-4% returns in this method.
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By making on-time payments on all EMIs in a significant way, you truly increase your credit worthiness in terms of your CIBIL record. Various tax benefits are also offered with car loans, which is kind of crucial. Well, this is definitely not a suggestion. Contrary to popular assumption, before making a decision, do your research and estimate all the costs.
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Disclaimer: Invest wisely! This strategy will only work if you invest in securities that generate more returns than interest of your loan.
Some investments are subject to market risks.