Pay for a car in full, or do monthly payments?

I weighed my options to either pay for a car in full, or pay a certain amount and pay off the rest via payments. Which would be better?

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bijouxbroussard · F

Depends on how your budget would be affected.
If paying the full amount would mean cornflakes and peanut butter sammiches everyday for the next few months, well...🤔

SubstantialKick · 36-40, M

@bijouxbroussard Well the car that I want is about $5300. By next weekend when I do car shopping, I'll have around $8200 in my bank account. So even if I pay in full, I'll have around $2900 left in the bank.

bijouxbroussard · F

@SubstantialKick That sounds workable. The upside of no payments is no interest, too.