Buying a new car - finance or a loan?
Discussion
Hi, I am looking to buy a new car but the vehicles I desire are too expensive for me to purchase outright. It would seem that finance is an extremely popular option these days, but is it the best option? Put it this way, I own a car that's worth about £2,500 whereas the cars I would like to purchase are between £6k-£15k! What would you suggest? Should I be sensible and buy a slightly more expensive car, building slowly to the car that I desire or should I just throw caution to the wind and go for my dream car whilst I'm still young, free and single?! If I should go for the latter, what option should I take - finance or a loan?
I am of course aware that this is very much a matter of opinion, but any guidance would be much appreciated and is all valid!
I am of course aware that this is very much a matter of opinion, but any guidance would be much appreciated and is all valid!
I should perhaps have mentioned that I'm not looking to buy a new car. I'm not sure I'll ever do that TBH. I just don't like the idea of losing thousand of pounds as soon as I drive it off the forecourt! Yep, used all the way for me. I'm looking at various cars, but my top target is a Porsche Boxster S. I've heard they're pretty sweet! So, when buying used it looks like a loan might be best?
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