Cars are a depreciating asset

[grampahol]

Something for some of you to think about when purchasing a used car.. If you can pay cash by all means do that and avoid financing if at all possible, but think about something else. If you finance your car it's secured credit meaning that if you fall behind on payments you may end up walking. Now, if you have available credit on a credit card that's almost money in the bank for buying a used car. Finance your used car with a credit card (not a debit card as that's almost the same as cash). When you use a credit card to buy a used car the title is in your name free and clear AND it's unsecured credit meaning that nobody can repo that car. You might have some real problems with a credit card company, but they can't by law come take your car away to satisfy the lean on you without first going through the entire court system and it's unlikely a judge will order you to surrender anything to a credit card company.. 
This does nothing for your credit score unless you're able to pay it off which you should as soon as possible to avoid interest payments, but by financing with a credit card the chances of having that car taken are virtually none. Some states do vary with credit card laws so it may not be iron clad where you live.. 
Any lawyers (Fred?) care to argue this point?