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In this video, I'll go through the car buying strategy I started about 4 years ago. I'll walk you through the numbers of how it all works, how it's been going so far, and the adjustments I've had to make to my car investing strategy going forward.
**CORRECTION** At one point in the video I misspoke by mentioning I've been doing this car investing strategy for 7 years. I've only been doing it for a little under 4 years so I have 3 more years until I need to purchase my next car.
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The whole car buying market has been crazy over the past couple of years due to a few different reasons. Supply chain disruptions: The sickness has disrupted global supply chains, leading to shortages of key components like semiconductors, which are used in a variety of car systems. This has caused production delays and reduced the number of new cars available for sale. Increased demand for used cars: With fewer new cars available and a growing preference for personal vehicles over public transportation, the demand for used cars has increased. This has driven up prices for used cars in many markets. Changing consumer preferences: Consumer preferences for cars are also shifting, with many buyers placing a greater emphasis on features like connectivity, safety, and sustainability. This is leading automakers to invest in new technologies and features to differentiate their products and meet changing customer needs. Interest rates: higher interest on car loans have caused consumers to have to spend more on the car they buy.
About 4 years ago I started investing for my future cars through the stock market. The goal was to be able to purchase a new car every 7 years based on certain assumptions. The initial assumtopns were to invest $225 every month, expect a 7% average annual return, 2% car inflation, and purchase a $9,000 type car (adjusted for inflation every 7 years). Since then the assumptions needed to be updated due to changes in the general car market. Based on my current projections with the old numbers I wouldn't have had enough so I'll show you the updates I've made.
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Disclaimer: This video is for entertainment purposes only. Everyone's situation is different so do your own research before making any decisions with your money. If you need help then contact a Certified Financial Fiduciary before trying anything that is mentioned in this video. I prefer a Fiduciary financial advisor that charges an hourly fee as opposed to an ongoing fee based on a % of your portfolio.