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texaz56

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Buying a new car. Should I pay cash?
I have some money from my husband's life insurance saved back to buy a new car. My credit score is 800+. I think I could get a better deal if I pay cash up front. But, I also plan to move to another state in the next few years, so I will be selling and buying a new home. Which would help me get a good deal on a house loan? Paying cash for the car, or paying it off slowly using the insurance money? I am retired and on a fixed income, which might affect my future home loan. I have $80,000+ in a good interest paying savings account in case an emergency comes up. I'm just really trying to decide what would be better for my future home buying.

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Cash, you want to keep your monthly budget/ expenses and minimum as possible especially with a "fixed" income....  Not only that; but paying cash for a car will give you total control over your negotiating ability, you'd proabably be able to buy the car you want for $1,000's of dollars less than you would if you financed it. Skip the sales rep and ask for a manager. Less mark up for a sales commission...

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