3 ms·

Is it smarter to buy with cash or with the loan?

• bkanber 8y ago
  Smarter on what dimension? Loans charge interest so will always be more expensive in the long run. If you're talking about the opportunity cost of "well what if I invested that cash in the stock market and made higher returns than my loan interest", I would mention that the banks obviously know about this (that's what they do with _their_ money) and it's a factor in how they set interest rates.
• azhenley 8y ago
  I did the loan option. The Tesla associates were very, very busy and were incredibly bad about answering any questions about the loan. It was the only negative part about the buying process. I went to pick up the car (3 hours away) and they were still changing around my loan details when I arrived. Negative part of their loan: they refused to cover the tax with the loan, which has not been my experience through any other car purchase. This means you must cover the down payment plus full tax amount when you pick up. They never told me that until the night before I went to pick it up. If I had to do it again, I would have got a loan through a credit union.
  • perfmode 8y ago
    This is helpful.
• DoubleCribble 8y ago
  3.75%APR seems a little high for a non-luxury sedan. The big automakers usually offer around 1-3% APRs on new models.
  • deleted 8y ago
    [deleted]