Paying for a car outright is by far the cheapest option available. Unlike a finance agreement - where you don't become the official owner of the car until the end of the term - you will own the car from the outset, giving you a valuable asset.

Buying a car with cash has its benefits. It can help you stick to your budget since you're limited to the money you have on hand, and you won't have to pay interest on an auto loan. But buying upfront could disqualify you from special offers provided by the dealer and leave you strapped for cash in an emergency.

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Cash or Loan When buying a Car