Avoiding Mistakes: When to Begin Searching for a Car

[@oldrrocr]

my old boss made a very good case for leasing a new car every three years... pocketing the difference to use as financing his NEXT lease. (I drive them until the wheels fall off).

[@gregholman2930]

The best time to buy a car is at the end of the year, car dealers are more motivated because once the calendar flips to a new year their inventory becomes less valuable. I, as a matter of fact, bought a 2014 Kia Optima SX with 95k miles. I traded in my 2000 Buick LeSabre Limited with 147k miles and received $2k for it which I applied to my down payment along with $1k in cash. The Optima sold to me for $10k. I bought a $1,600 extended warranty, my monthly payment is only $176 per month & 6.5% interest through my C.U. It's best to buy used, 5 years or more is ideal, that's when the vehicle has depreciated the most. P>S> You're correct about not being desperate, the dealer only wanted to give me $650 for my hoopty, I started to walk & they suddenly upped their offering price to $2k & gave in to my demands for new tires & wiper blades.

[@RonnieHaskins]

Those are excellent points. Good work.

[@wacabby]

modern cars will decay much faster and break down over time more than the cars of the 90s and 2000s. the reason is basically GDI, Turbo, running too hot thermostat from the factory making plastic brittle and oil leaks, and complex integrated electronic and entertainment systems that integrate all major functions. if a main screen breaks, you can't even defrost the windows

[@RonnieHaskins]

That seems to be the way things are going.

[@TheKingOfInappropriateComments]

Good advice. I don't keep cars that long and I don't put a ton of miles on them. I am an opportunistic buyer. I feel like a politician who, the day they are sworn into office, their re-election campaign begins. The day I bring home a new car (I only buy new), I start looking for the next one and start actually go to dealerships and start sowing some seeds the week before Christmas. The week of new years is when anyone who wants to sell me a car calls me back. I wasn't able to get a deal in 2023 because of the wholesale values being in the dumps and not a lot of rebates. We'll try it again next year or if market conditions improve.

[@bassdojo]

Brilliant idea, I'm going to try that at the EOY 2024. Thanks.

[@RonnieHaskins]

Nice idea. I like the term opportunity buyer.

[@TheKingOfInappropriateComments]

Like Ronnie says, you need to be patient and can't wait until you're without a vehicle and have no leverage at all.@@bassdojo

[@TheKingOfInappropriateComments]

*Opportunistic* The sales managers don't like hearing that at all. The most recent time I disclosed I was just looking for a good deal, the business manager handed me a card and said we'll call you if anything comes in. Never had them do that before. So really, you want to keep this to yourself lol. They might think you're a time waster and to them you might actually be a time waster if they are in a market where they can hook a bigger fish.@@RonnieHaskins

[@rolandajames3367]

Everybody's situation is different, I would never pay cash for a car. Why use my money when I can use the Banks money with zero interest. Having great credit is awesome.

[@RonnieHaskins]

You're right. Have to do what works for you. We own one for cash and lease the second car.

[@jimkelly4214]

I don't understand A bank gives you money and does not charge interest. BTY my fico score is over 800.

[@dryrain2]

Solid advice

[@77Joseph777]

Great logical info that I never gave much thought!

[@RonnieHaskins]

Thank you.

[@royperry2859]

Im a parts counter sales person. I ask long do i plan on driving the car?

[@RonnieHaskins]

It depends on your goals. If you like the car, keep it. Just save and prepare for the next one. They won't last forever.

[@patrickboyd3364]

I'm looking to pay cash for my Toyota 4RUNNER 😅

[@bobknight6394]

hey buddy the best time to get a new car is when you have the cash in the bank to pay for it auto loans are for losersssssss

[@ClockFixer]

STAY AWAY FROM CAR STEALERSHIPS!!!!!!!!!!!!!!!

[@craigorlikowski2507]

Is NEVER. Waste of money as soon as you drive off lot.

[@geecheetone8550]

Answer at 5:55. You're welcome.

[@RonnieHaskins]

Thank you for pointing that out. I'm going to work to bring the answers earlier in the videos. Good point.

[@dogsarefun2]

lol, what's on the guy's head?

[@williammorris3815]

Planning for new cars and maintenance inflation is fine and dandy. Planning for no wage growth in your job is impossible. This is an obvious contradiction. What will level the playing field is an economic depression.

[@RonnieHaskins]

Interesting take.

[@cspeedball]

Buy used for cash!!!

[@johnmoriconi1047]

So much bull. The average person doesn’t have money laying aroung to purchase a used car let alone buying a new car, as far as looking for a used car or a new car when your car is running is not realistic. It’s nice to know you can tell everyone what to do! Get a life!!!

[@RonnieHaskins]

Thanks for watching! I appreciate it.