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Cars And Trucks Are Too Expensive - Here Is What Can You Do About It
Manage episode 382217515 series 3404102
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00:00 - OPEN
It may not seem like you can reduce the cost of buying a new or used car or truck, but there are legitimate things that you can do about the high cost of purchasing vehicle. You may not like some of these solutions, but you do have more control than you think, so let's dig into that
00:45 - Intro - Cars And Trucks Are Expensive - Here's What You Can Do About It
When it comes to new and used car prices in the US, I am completely gobsmacked by how expensive everything is, from purchase prices to monthly payments to interest rates, everything is way too high for many consumers.
02:45 - US Car Prices, Payments And Interest Rates Are Way Up
I review the most current average vehicle sales prices, monthly payments, interest rates and loan lengths.
06:25 - Auto Insurance Costs More Too
The high purchase prices of new and used vehicles, combined with more sophisticated features and electronics, makes them difficult to sell.
08:10 - The High Cost Of Car Ownership For Real People
- Upside Down In Your Car Isn't Where You Want To Be
- Driving For Uber Can Lead To A Dead End
New York Times - How The Costs Of Car Ownership Add Up
12:00 - Ways To Fight Back Against High New And Used Car Prices
- Keep you current vehicle longer
- If you Keep It, double up on your trips
- Search for a used vehicle with a reputation for quality
- Check back episodes of this podcast for vehicle ideas
- Buy a sedan instead of an SUV or truck
- Try the Serendipity Search Method of finding a car (episodes 64 and 19)
- Be sure to get a pre-purchase inspection by a mechanic familiar with the make and model of the vehicle you purchased
21:00 - Close
Prices are high for new and late-model used cars, but you can fight back by setting ego aside and looking down market to buy an older used vehicle that’s still safe, reliable and fun at an affordable price.
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