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The Right Time to Take Credit?

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Anonymous

14y ago
Updated: 9/16/2019

Believe it or not, there is a right time to take credit or a loan, and it is precisely when you do not need it.

Starting a business with a loan is only right when you already have the money to start that business without the loan anyway. You can then secure that loan with the money that you already have stored away and have more leeway with your finances.

In the same way, taking a loan for a house or a car, especially a car, is best done secured. Have the money already set up in cash, then take the loan against the savings.

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Wiki User

14y ago

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