Should I finance a used car?

Nohea

I`m in the process of launching my interior decorator business. I have saved up a little over 6 months living expenses. I don`t have any financial debt and my start up costs are paid for (I have been purchasing things over the last year with cash). 

robertj

nohea,
Sounds like you have done an excellent job of planning and preparing to start your business.
As the old saying goes; Cash is King. This is especially true in a new business - so I would conserve the cash and get a loan for the car.
 

ToddF

well my only concern with financing a car is that you`ll now have a loan on your credit and you need to weigh that against a possible loan for your business later on. Now from your post it seems like everything is paid for, so I would have to say go for the loan and keep the cash for a rainy day. You might want to make "extra" payments to get the vehicle paid off more quickly, but that`s your call.
Sounds like your heading in the right direction! Good luck!

Nohea

All,
Thanks for the feedback on the car. I have decided to buy a car next month and while I`m launching my business make the regular payments. Once my business is bringing in more money than I`ll pay the car off in big chunks.
Thanks,Calie

Nohea

Hi Kathleen,

Nohea

nevadascul ,
Thanks for the tip on the repos from the local banks. I didn`t even know that was an option!
-Calie

gracy

Hi,
This is gracy. Renting car is the option and give loans in banking. just wait the finance and just wait the proofs.
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