The Stacking Benjamins Show Your Path to a Cost-Effective Car SB1651
Mar 3, 2025
Phil Reed, Senior Consumer Editor at Edmunds.com, shares invaluable car buying strategies, breaking down leasing versus buying and how to negotiate like an expert. The discussion touches on the emotional aspects of car purchases, with insights into market trends and the benefits of buying slightly used cars. The episode also features productivity hacks from Paula Pant, Dominique Brown, and Carrie Smith, focusing on managing time effectively, avoiding social media pitfalls at work, and tackling email overload—all seasoned with humor and relatable anecdotes.
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Buying a Used Car
- Consider a used car between three and five years old for your first vehicle.
- Depreciation flattens during these years, offering good value and potentially remaining warranty.
Car Affordability
- Limit car payments to 20% of your take-home pay when financing.
- This guideline provides financial flexibility for unexpected life events.
Avoiding Lemons
- Use vehicle history reports before inspecting a used car.
- These reports reveal ownership history, mechanical issues, and accidents, enabling better pricing.
