Car Loan

Is it wise to take a car loan in the age of your 20s? Or is it advisable to take a second hand car with savings?

Replies (6)
Quick Summary
This discussion explores the wisdom of taking out a car loan in your twenties. The consensus leans towards opting for a second-hand car paid for with savings, allowing for future investment opportunities rather than EMI payments. While buying a new car with a mix of savings and a loan is an option, prioritising savings in your 20s is generally advised for greater financial benefit.

Go for second hand car with savings.. as you are in 20s you can purchase new car after 20s also with the savings

But also shouldn't it also be wise to buy a new car at once only with some amount of loan and some amount of savings at once?

Yes, it's upto your decision

Will I get any benefit or anything if I opt for taking a loan for the first time or anything of that sort? Will I get any advantage?

It is advisable that you should go for a second hand car, as you can make its payment in one go from your savings. Also, instead of paying emi you can invest the same amount.

Yes even I am thinking that investing might give me more benefits instead of just filling my EMIs

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details