Taking a loan to buy a car: is it a wise decision?

[Hasan Raza]

Not at all, i think it's not a wise decision to fulfill your wishes by taking loans from others, it means that if a person do such things, he have not control over his desires and emotions.Always work hard to fulfil your needs and wishes. Loan repayment is much intense.

 

[Lloyd]

For me it’s not bad to take a loan for a car especially nowadays a car is somewhat a necessity since public transport are already overwhelmed. You can also use the car for business so that it will generate income. You make sure also that you have the capacity to pay your loan on time to avoid penalties with the bank.

 

[Rashid]

This is not a bad thinking and decision to buy a car by taking loan. It's totally normal. If you are confident to return that loan at your dealing duration then you should to buy the car. Because life or money is the name of facilitate your self.

 

[Hdre3m3n]

According to my understanding, loans are not meant to be taken for liabilities, they are only meant for assets. Taking a loan to buy a car, if the car is not advisable if the car is earning you nothing.

 

[Ehsan Ullah]

If you take a loan when you haven't money is not bad.
You can get loan whenever you have run short of money to buys things.It is wise decision only in that case if you have enough power to return it within time.

 

[Abbas ali]

Taking a loan is opportunity for businesman and other people's who want to start thier business. If you buy a car to driving it as a taxi then it is good decision.
If you buy it for your luxuries then it is not good decision.

 

[Tinaconcept]

If its necessary why not as far as the car will help you in your business meaning it will fetch you income you should go ahead but if this car will be a liability to you why then take loan. I will advice better to use your money and buy car except otherwise you need the car for another stream of income such as taxi.

 

[Frank]

According to my opinion, loans are actually meant for businessmen and working class,if you're actually going to use this car for something like Uber or taxi, then I can advise you take a loan, but if for just your personal use, I don't really support that Because of the risk involved in obtaining loans.

People take loans to buy cars and there is nothing wrong about it as long as their salary can be able to service that loan over the period of repayment. This idea of buying luxuries just for business purposes alone doesn't look okay for me. You should live a good and enjoyable life as long as you are earning the money.

 

[Usama Iqbal]

In my point of view it is not good to take loan for buying a car . If we have no money to buy a car we should not buy this . If we buy a car after some time its price will be low . So we taking loan to start other business . We can investment this money at some other projects. From this we get profit and we will be able to make loan back .

 

[Quert]

I think it will be a good decision to make if you're such a busy person, being busy means you have a lot of places to go maybe because of your work or gatherings. Then if you are not that busy person and if you think your car will only get stuck in the house maybe you should not consider buying one.

 

[Lyrrex]

If the car you are to buy is for transportation , then it will be a good one as you can be making profit from it . If it is a personal car , you then need to have a plan to be repaying it back monthly intervals. However ,I don't think it is a good decision.

 

[Thosynho]

Not at all, i think it's not a wise decision to fulfill your wishes by taking loans from others, it means that if a person do such things, he have not control over his desires and emotions.Always work hard to fulfil your needs and wishes. Loan repayment is much intense.

Not so Hasan. At times obtaining loan to purchase certain things which are crucial to your business that you can't afford with your money at that moment is good. If the car you are obtaining loan for will be highly needed for your business probably it will help you make more sales then getting loan to get it is an asset. The car will definitely pay the load repayment with ease.
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Not at all, i think it's not a wise decision to fulfill your wishes by taking loans from others, it means that if a person do such things, he have not control over his desires and emotions.Always work hard to fulfil your needs and wishes. Loan repayment is much intense.

Not so Hasan. At times obtaining loan to purchase certain things which are crucial to your business that you can't afford with your money at that moment is good. If the car you are obtaining loan for will be highly needed for your business probably it will help you make more sales then getting loan to get it is an asset. The car will definitely pay the load repayment with ease.

 

[Rainlover207]

In my opinion, it depends on what you want to use the car for, if it is for an Uber for example you can go ahead, but for solely private use I would advise against that. You shouldn't take a loan to purchase a private car.

 

[Trojan8]

I think one would have been able to provide a reasonable response with some additional information. If you are getting the car so you can run something like Uber business then it is fair. If you are getting it for personal use then you have to weigh the cost against what you would have otherwise spent for transportation. This is how you will be able to know if its a good decision or not.

 

[MarieArie]

If you need finance to buy your car, a personal loan or bank loan from a bank or building society can be one of the cheapest ways of borrowing the money if you can get a good rate. But remember to look into the pros and cons of personal loans first. Read on to get the facts you need.

 

[Diamond07]

You can take a loan to buy a car if you'll be using the car for business, say registering for Uber or Taxify. For personal use, it's not advisable to take a loan to purchase a car considering the money you'll be spending to maintain the car

 

[Bart Simpson]

According to my opinion, loans are actually meant for businessmen and working class,if you're actually going to use this car for something like Uber or taxi, then I can advise you take a loan, but if for just your personal use, I don't really support that Because of the risk involved in obtaining loans.

 

[Dorcey]

I won't decide so quick. If the car is necessary. I will still agree with the fact it obtains loans to purchase the car. But if the car is for fashion, it is stupid to obtain loan for such an action.

 

[Folaham]

Car loan is never a bad idea if you have good laid down plan to offset the loan.
Alternative option (still loan) is that of a contributory circle with friends with similar earning and salary uniformity where a stated amount is agreed on a monthly basis to be paid to members in an agreed sequence.
I bought my car from such plan and continued the contribution for 8 months after when I can officially say the car is mine..
Car loan is good if you can afford it

 

[Nimra Noor]

I

Is it advisable to take a loan and purchase a car when you don't have the money to buy it at that moment. You would now be making payments either monthly or weekly until you are able to complete the payment.
What do you think?

I Don't think so to buy car if we haven't money because it may cause difficulties when we have to pay it back if we are a good businessman or working on good grade and can back the money then we can take otherwise I don't think so it's good to buy car by taking loan