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Updated over 1 year ago,

User Stats

4
Posts
3
Votes
Matt Cruz
3
Votes |
4
Posts

Buy/Finance/Lease a Car

Matt Cruz
Posted

Hi, 

I was recently in an accident where my car was totaled and am trying to figure out the best step to get a new one. I'm 24 years old and have about $26k saved with ~15k designated as my emergency funds. I'd like to get my first house hack going in the next year but now have this expense.  I need a car and am unsure if I should finance a new car in the $20k range or use cash to buy a used car closer to $10k. I know that cars aren't depreciating quickly right now and heard on a BiggerPockets Money podcast from late last year that buying new was the best option. Is that still the case? 

 Thank you!

-Matt

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