Advantages of taking a loan

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Advantages of taking a loan

Post by megaabobus »

I am in my early 20s and planning to buy my first car. I can easily have this all cashdown deal without any loan. But I was wondering if there would be any benefit to me if I make a loan amount. Would it increase my CIBIL score? What other benefits do you see from a long-term perspective? Or should I just do the cashdown deal only and save the finance charges given to bank?

FWIW, the car price is not huge, just 5L.