Once you’ve decided which Jaguar vehicle you want to buy, it’s time to think about how you will pay for it. Here, we discuss the merits of both Jaguar financing and paying cash, along with possible drawbacks to consider.
If you don’t have a lot of money on hand right now for your car, financing is probably your best option. All you will need to do is supply a down payment – much of which may be able to come from a trade-in car – and then take out a loan for the rest. This allows you to pay off the vehicle over time, and at the same time build equity and perhaps improve your credit score.
The only negative with financing is that you will need to pay interest on your loan. This can be mitigated, however, with a bigger down payment or a shorter loan term.
Why Pay Cash?
If you have all of the money for a car – and you don’t have other pressing financial needs – then paying cash could be a good idea. Immediately, the car is yours free and clear, and you won’t have to worry about monthly payments.
The downside is that even with a pre-owned vehicle, you will need to supply quite a bit of money. Putting so much into a vehicle could stretch your budget a little thin.
Make the Best Buying Choice at Jaguar Northfield
If you’re still on the fence about the best way to purchase your car, visit Jaguar Northfield. Tell us what you’re looking for, the budget to have to work with, and we will help you make the right decision.