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How to get a loan and buy a car strategically?

Submitted by Kamal Wickramanayake on November 20, 2007 - 05:32

Due to heavy taxes, one would find this a better option:

1. Get a loan (amount to be the price of the car in Sri Lanka), go abroad, buy a car.

2. Even after airfare and the money spent in buying the car, you will still find money remaining in your hand. Why? Price of cars are so high in Sri Lanka due to heavy taxes. The same car in another country can cost half or 1/3 of the price in Sri Lanka.

3. Enjoy and pay couple of loan installments from the remaining money.

4. Don't worry about not finding a job very soon, what remains from the loan will be sufficient for several months.