I am buying a car worth 50K. I have 30K in savings. I am planning to put my 20K into car and finance 30K.
Why does most of the people say that i should finance the whole 50K. I am not investing my 30k anywhere. It pretty much is just sitting on my offset account.
Also Shall i finance the loan from home loan for next 30 years, from home loan but separate car loan for 5 years or get a seperate car loan from dealer.
After doing my homework, I am planning to put 20k savings into loan and finance 30k from home loan (not sure if my homework is correct)
Please give your honest opinion on my situation.
Without knowing your specifics, the secured loan with a deposit will likely get you a better interest rate compared to a secured loan for the total value of the car.