Is financing preferred if you want to be able to 1), have a dashcam installed at the dealership so it’s on the invoice, and 2), be able to sell and walk away if you know you won’t be able to afford it after a while? Like for example, another poorly-made bio-weapon gets released and you get laid off?
I never prefer financing. If another Chinese bio-weapon gets released and millions of people lose their jobs again who do you think is going to buy that used, under-powered POC Honda?
My own opinion is this: if you have to finance a vehicle, either step-down and buy a vehicle you can afford to pay cash for, or wait until you have enough cash to buy the POC under-powered Honda.
Here's the bottom line: Paying interest on anything is quite literally throwing money away. You're paying for the "privilege" to borrow. Why give someone else money when you should be paying yourself?
This is why I buy two to three year old vehicles coming off personal leases. They're well maintained, low mileage and someone else has already taken the hit for the biggest chunk of depreciation on the vehicle.
I also choose a price point I'm willing to pay for a vehicle and shop in that price point to get the best vehicle I can for the money I'm willing to part with.
I'm not brand loyal and that gives me the biggest flexibility to get the best vehicle at the price I'm willing to pay.
I know that's an odd concept these days, living within (or in my case, well under) ones means.