Buying a car or bike? Financing could be the smarter choice, Here’s why

Thinking of buying a car or bike? Even if you have the cash, consider financing. There's a smart logic behind it.

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Why finance even with cash on hand?

Some save, others finance. Even with cash, many finance. It seems wasteful, but financing helps keep your financial plans on track.

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10-20% down payment is enough

Even with enough cash, a 10-20% down payment is sufficient for a car or bike. Banks and finance companies cover the rest. Compare interest rates before borrowing.

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Why finance even with cash?

Using all your savings for a vehicle leaves you vulnerable in emergencies. Financing is a safer option, allowing you to keep some savings aside.

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Benefits of Financing

Financing protects your emergency fund. Interest isn't a huge burden with manageable monthly payments. Startups may offer lower interest rates. Smaller EMIs make payments easier. Financing offers more advantages.

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Know Before You Buy

Before buying, understand finance options, interest rates, processing fees, late payment charges, prepayment and pre-closure charges, and company terms. Compare and make an informed decision.