When a loan is better than cash


Hundred dollar bills fanned out.

What does the word debt mean to you? Does it make you feel stressed? Do you see it as a negative or a positive? Is some debt better than no debt? There’s no answer that is right for everyone, but there are times when getting a loan makes more sense than paying cash. Here are some incidences to consider the next time you’re getting ready to buy!

  1. Purchasing a car: Moneyunder30.com suggests looking at the Annual Percentage Rates (APR) when purchasing an auto or recreational vehicle it might make more sense to finance that next vehicle and save your cash for other expenses!
  2. Buying a house: Investopedia has an in-depth look at using cash versus a mortgage when purchasing a home. Unless you have liquid assets for the purchase price (plus all the immediate repairs needed when you find out the previous owners jury-rigged the furnace), a mortgage will benefit you when it’s time to buy the home your family needs. BNY Mellon has a few more reasons to check out a mortgage for your next home.Check out what we have to offer and we’ll help you from start to finish!


  3. Covering life’s other expenses: If your cash reserves are tight, a personal loan from Consumers can help. From furnaces to debt consolidation and more, we offer loans that fit your budget and help with your stress. Give us a call or stop by an office!

When is a loan the best option? That depends! We’re here to help you sort through your situation and figure out the best financial plan for you.


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  1. David summerton says:

    Do you offer secured loans?

    • ConsumersCU says:

      Hi David, we do not a this time, but if you give us a call at 800.991.2221 we would gladly discuss the options we have for loans.

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