Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Anonymous
Anonymous asked in Cars & TransportationBuying & Selling · 2 weeks ago

Would it be dumb to buy a brand new car with cash using half of my savings?

4 Answers

Relevance
  • ?
    Lv 6
    2 weeks ago

    I think it would. Buy a car with under 1,000 miles on the clock and about 1 month old and you will save thousands. Dealers have courtesy cars - buy them  

  • 2 weeks ago

    No.  I always pay cash.  Borrowing money means you have to pay interest.

  • CB
    Lv 7
    2 weeks ago

    Sometimes the interest rates are so low it is better to finance. Keeps you more solvent and since you have enough in the bank to cover the price you will have enough for payments should something unexpected happen with your job.

  • Anonymous
    2 weeks ago

    How much do you make?  How much is the car?   How stable is your job?  Will you get fired if your company starts having difficulties?  How much money do you have after all the bills are paid?  The answers will tell you if you if it is dumb or not.

    A rule of thumb is you need to have money to cover 3-6 months of living expenses just in case things do not go right.  Think about that and make your decision.

Still have questions? Get your answers by asking now.