Buying a car is undoubtedly the biggest job any person may have in mind. But somewhere, back in the mind is the big question whether is it really a right decision. After that question gets sorted, you are again quivering with the next question that is whether you want to buy the car with cash or you need an EMI option. Often so many people buy car on daily basis, do you really think they have this ready cash with them to buy the cars. Even the richer sections of the society are now buying cars with an EMI option. There are many advantages to one buying cars on EMI or Cash. The choice always differs. Here are some of the pros and cons to buy used car on emi in Bangalore.
Should you take a loan or pay cash
Buying a car with cash is good option, the first and foremost reason to buy car with cash literally proves that you are well off. It saves you from the hassles of loan application, documentation and repayment of the loan. The dealers also often offer discounts to the people who pay upfront cash for buying the car. The new owners can avail goodies from dealerships and also you can choose the model that you want since on loan some models may not be directly available for selling.
Benefits of taking a car loan
When you are buying a car on loan, the first and foremost benefit is that you can buy the car of your dreams as you can afford even with no cash in hand. You can make little down payment and enjoy all the best feel of owning the new car you ever wanted. You organize your finances well, since you have to pay the loan every month. You also get good tax benefits, when you are planning to buy car on loan, banks often offer safe banking processes providing easy loans.