Did you get Finance or a Car Loan for your MK6 Golf? and with who? Need advice!

[niulf]

Just my two cents.

Yes, financing a large purchase means having to pay interest and other associated costs but paying in cold hard cash has it's issues too.

You save all this money, so you gotta make it work for you. Paying for a car in cash sounds great but getting finance frees you up to do other things with your money.

If I've got a a personal loan that costs me, say $250 a month and at the same time I've got 10K in my savings account, I won't be rushing to pay off the loan, just 'cause I can.

I've had situations where I had money saved up that allowed me to invest or achieve a specific goal that presented itself. Had my savings been used to purchase a car, I'd miss those opportunities.

We pay for the privilege of finance but it opens doors and gives you options. I'll stick to having flexibility with my money.

It really depends how much money do you have. I'll do same thing as you do, because I'm not rich. But one of my friend just paid off everything, house, cars. He's rich.

[scheps]

typically what are we looking at, loan vs cash up front difference at the end of the loan?

[MY10TSi]

Have a look at a RACV, you should be able to get 9.5%.

In regards to financing or buying the car outright.

It depends on your cashflow, I prefer to finance and invest the money i have sitting around as you will be better off.

Do a comparison with:

a) how much the car will cost with interest
b) how much you will have if you place it in the bank for 5 years
c) how much will you have if you invested in a particular investment