Even if you are in the the position to purchase something like a boat, vehicle, or tractor with cash, should you or might financing be a better option?
Many consumers believe that debt should be avoided at all costs. You may feel that way if you or someone you know has been in a position of big debt overhead.
Either way there will be a cost associated with the price of the asset. With financing the cost would be the interest and with cash it would be the opportunity cost that you could earn with keeping the cash.
With interest rates are favorable the logic would be that if you can borrow money at a lower interest rate that you could earn on that money it’s cheaper to take the loan than to pay cash.
With PaymentLens.com you can calculate the costs of your purchase to help you make an informed decision on your purchase.
