Buying new car cash vs financing

[Wendy S.]

Is it best to finance a 2023 Honda $38,000 or pay cash?

If financing, is it better to get a bank loan or finance at the dealership?

Background

Car is not for me but mid twenties daughter who I partner with to buy real estate. I quit my job 2022, live off rental income and we house hack a large 3 level house with rents totally covering mortgage.

She has excellent credit and six figure yearly income. Only mortgages as debts which are covered by rents.

P.s. I'm supporting the new car decision. You have to enjoy and reward yourself sometimes. Not always about frugality.

[Account Closed]

Quote from @Wendy S.:

Is it best to finance a 2023 Honda $38,000 or pay cash?

If financing, is it better to get a bank loan or finance at the dealership?

Background

Car is not for me but mid twenties daughter who I partner with to buy real estate. I quit my job 2022, live off rental income and we house hack a large 3 level house with rents totally covering mortgage.

She has excellent credit and six figure yearly income. Only mortgages as debts which are covered by rents.

P.s. I'm supporting the new car decision. You have to enjoy and reward yourself sometimes. Not always about frugality.

It's best to NOT buy a 2023 anything. The biggest drop in value is when you drive a new car off the lot. Try to resell and see what your offers are.

Best cars to buy are 2 years old or older. You get the benefit of the depreciation and most of the bugs and recalls ar worked out.

Let her "enjoy and reward herself" by buying a property.