linearity: Your question pre-supposes that you already have the cash on hand and are in a dilemma whether to use it or get a loan.

The best option is to treat it as investment and see if you will be a least even at the end of the day...

First see what the loan will cost you in interest rate or APR....Also see how much it will cost you to get a personal on secured loan from the bank...if the situation currently in Nigeria is same as it is in developed countries, the interest on the car loan will be lower than the personal loan because the car acts as a security.....look at it this way..

Given the above, I will invest the money and take the loan....at the minimum your investment cash flow has a boost which is equal to the difference between the above two interest rates.

A good and effortless investment for that cash is to buy a land, put a fence around it and either sit on it or gradually start developing it.

While the land is an asset and will continue to appreciate in value, your car is a liability will continue to depreciate. If you hit a financial bump in the road tomorrow, you can turn around and sell the land, payoff the loan...and you will still have some change in your pocket plus you will have your car to either sell to make more money or keep...but had you bought the car outright, you will get less than 50% of the original value.

oguash: it depends on what is good for you at the time

Sagamite:

You are a person!

You need it knocked into your empty head that financial methodology is independent of environment, financial institutions, countries, debtors, cement used in building the bank, malaria that affects the people, asaro the banker ate the previous night etc.

Just like the chemical table is independent of environment, chemical firms, countries, patients, cement used in building the factory, malaria that affects the people, asaro the chemist ate the previous night etc.

Blocking such facts from entering your thick skull and cemented oblongata is an example of refusing to learn. Tell mummy, you need to go back to school.

treatise:

This is an epitome of intellectual rascality that's omni-directional which at best induces an virtual anomie. Economics/education is tailored toward the advancement of the society not the demontration of bestial sarcasm !

The Vo-ca-bu-la-ry wasn't necessary.

treatise:

This is an epitome of intellectual rascality that's omni-directional which at best induces an virtual anomie. Economics/education is tailored toward the advancement of the society not the demontration of bestial sarcasm !

charles316:

Bros,abeg no vex.

packman: [size=15pt]FUNNY QUESTION.......

OP NO GO KILL ME..........

WHICH NIGERIAN BANK DO YOU THINK WOULD LOAN YOU MONEY TO BUY CAR.....
So u tink its ony banks dt gives loan...for him to talk about loan,do you tink he was refering to a bank...they"re a lot of corpoerate organisations that are willing to give loan...all you js nid do is apply...esp if you"re a fed.govt worker...there's alwaz d coperative to get ur loan from,cos ur job's enuf security and they"ll take back their moni frm ur salary every month,depending on ow much u even want dem to take....with very little interest rate too,cos dts the whole aim of coperative
OGA YOU DEY NIGERIA.......OOOOOOO

HAHAHAAHHA.....[/size] [size=40pt]YIMU [/size]

Yeecar:
For Tokunbo?

rudedough:

The Vo-ca-bu-la-ry wasn't necessary.