Should you buy a car on credit?

Most of the real car owners own their cars only under the title, but in fact, the real car owners are banks that, in case of non-payment of the loan debt, will simply sue your vehicle from you. But this does not scare anyone, since almost everyone is confident in their financial situation and takes a car on credit without thinking about the consequences.

If you belong to the part of the population that is accustomed to living in debt all their lives, then below I will give all the pros and cons of buying cars on credit, and also tell you why it is better not to get involved with this type of vehicle acquisition.

When does a car loan pay off?

I am more than sure that the point that I will now describe will be the only plus that a loan has. This applies to those owners who buy a car not just to move from point A to point B, but in order to earn money with their vehicle.

That is, if you decide to engage in passenger or other transportation, then you can and most likely even need to buy a car on credit if you do not have enough funds. Especially, this should be done in cases where you are confident in the payback of your business.

When should you not take a loan for a car?

In almost 99% of cases. This applies to those owners who just want to drive a new car, no matter that it's not yours yet. Think for yourself, you can get into an accident, and through your own fault, and then you will repair the wrecked car, for which the banks still owe a decent amount of money.

You should not talk about car loan interest at all, since here the last skin will be pulled off from you, as a result - at the end of the term you will pay at least twice as much if you stick to the payment schedule.

Well, the worst thing is theft. Most of the cars bought on credit are VAZ. And almost 90% do not take out CASCO insurance. That is, the owners are not protected from theft. Now imagine that your credit car was stolen, and you have to pay for it for another 5 years! I don't wish this "happiness" on anyone! In general, everyone must decide for himself whether it is worth tempting himself with such an acquisition, or whether to accumulate the necessary amount and buy the same VAZ for himself already for cash!

An excellent alternative to buying a car on credit is a long-term rental. With this option, you relieve yourself of a number of worries, for example, such as car maintenance and insurance. In addition, it will be much easier for you to change the car if you want and try different options. The main thing is to choose a reliable partner with a positive work history, for readers from Moscow and nearby regions we can recommend the company Auto Special Services: https://autospecialservices.ru/services/arenda-avtomobilya-na-god/