Buying a car str8 cash or loan at age 22

[gil23]

i bought all my cars cash b.... save and buy.

 

[jc619er]

The bigger question is what kind of car are you looking at, because for 5K you can get some nice rides. I actually had a good deal come my way that I couldn't pass up. After totaling my car earlier this year I was bummed losing my baby.  So after I got my settlement check I got my wife a nice used SUV and took our old '99 Camry with low miles as my car, but wasn't really feeling it, but just dealt with it. Then my friend who flips cars came across exactly what I was looking for right now. 2001 Lexus Es300 with 129,000 miles and the only damage was the plastic back bumper and one of the taillights. After everything was fixed and all said and done, $4,300 out the door and I got $2,800 selling my Camry, so really only put up $1,500. The Lexus is clean as can be too. Only one owner, garage kept, paint still nice and glossy and the black leather interior perfect. Couldn't ask for a cleaner ride and for almost no money. So if you do a little searching you can find some great deals and then not have a car payment, and that's a great feeling.

 

[ajwings23]

Save whatever money you got. Get a car loan from capital one or a credit union, that's if you got one.

This will help you build credit. You can always refinance with a different bank to lower your interest rate of it's too high. Do what is best for you.