Pay in Full.
When you put cash down, it gets reported to the it guys. Do remember that.
If your tax filings are clear then there is no harm. But still why bring oneself under the scanner.Any harm in that ? I mean I don't have any black money, still anything to be concerned about ?
Any harm in that ? I mean I don't have any black money, still anything to be concerned about ?
Not a problem for honest peopleWhen you put cash down, it gets reported to the it guys. Do remember that.
There are more chances of discounts/rebates when going with finance option as the dealers have a margin in that. if we pay cash upfront then hardly any discounts. even the accessories they didn't gave free.Yes, it is much cheaper to buy with cash (you may even get a discount for such a transaction) but a loan gives you the advantage of not depleting you bank account all at once, so that if a contingency arises, you have the cash (defaulting on the loan is a low priority in such a scenario). So you need to make a call on whether the extra amount you pay is worth the peace of mind that it brings. If you have 1Cr liquid and buy a 5L car, you still have 95% of your assets. If you only had 20L liquidity, you are left with only 75% of your assets.
This is inaccurate. Only purchases above 10 lacs are reported. Any car dealer or CA will tell you this.When you put cash down, it gets reported to the it guys. Do remember that.
The car is registered with the RTO. Thats when high value transactions get reported. So are international vacations, property deals etc etc. The most common places for IT dept to pick up leads are these.By the way who reports to the IT guys? The car dealer himself?? I dont think so. Or your dear jealous friend or near and dear ones???
But again why declare the outside world that you bought the car on a full-down payment, instead declare you got it on loan basis.