Consider finance options when buying a car

Determine whether to pay cash or not for a new car.

Q: I am going to buy a car soon. Should I pay cash or finance it?

For example, if you have credit card debt at an interest rate of 10 percent and you can secure a car loan at 6 percent, it would make financial sense to use your cash to pay off your credit card debt and finance the car at the lower interest rate.

Send your money management questions to Answers to our readers' questions were provided by Lawrence B. Keller, CFP, CLU, ChFC, founder of Physician Financial Services, a New-York based firm specializing in income protection and wealth accumulation strategies for physicians.