Hey everyone!
As the title suggests, I’m considering financing a new Honda HRV Sport ($23,640 to build). My husband and I literally just paid off the entirety of our student loans, so the idea of adding on more debt just seems stupid to me, but my 2006 car is running on fumes and really needs to be put down.
I’ve looked into used options, and it looks like I can get a relatively new one (2017+) with minimal miles for about $16k or so, but I don’t know if it’s worth losing out on the Honda warranty, and it doesn’t seem like those vehicles have Apple CarPlay, which I really want (don’t need it though obviously). Not only that, but new cars have better finance rates as far as I know, so that’s something to consider.
I could always save and buy it in cash, but I don’t know if that’s even the best route if I can get <1% financing terms and use that savings to invest.
In terms of finances, our household income is $200,000 (more like 220k depending on my OT/call), expenses are about $2k/month, and we have no debt, so I knows we can definitely afford it, but I’ve never purchased a car over $5k and have heard time and time again that buying new is just stupid, so I want some outside perspective. Finance a new or used car or wait and buy it outright in cash?
Thanks for your help!
Submitted April 18, 2020 at 08:23PM by anesthesiagirl95 https://ift.tt/2Khk4f2
