They discuss current market trends and offer advice on buying a car. Pros and cons of financing through a dealership and test-driving a car before purchase are explored. Differences and considerations when buying used hybrid and electric vehicles are discussed. Rental car services as an alternative to car ownership are explored. Tips for buying a car include knowing your numbers and conducting research.
The current car market presents challenges due to high prices and limited inventory, making it difficult to find affordable options.
When buying a car, it is essential to be informed and prepared by researching prices, knowing your budget, and prioritizing maintenance over repair costs.
Deep dives
The AI race among big tech companies intensified in the 2010s
In the 2010s, big tech companies such as Google, Facebook, and Meta recognized the importance of harnessing artificial intelligence (AI) to stay competitive. Researchers raised concerns about the potential devastating consequences of moving too fast.
Buying a car in the current market is challenging
For those looking to purchase a car in the current market, challenges arise due to high prices and limited inventory. The average cost of a new car in Canada has increased by 47% since 2019, making it difficult to find affordable options.
Tips for buying a car in the current market
When navigating the car-buying process, it is essential to be informed and prepared. This includes researching prices, knowing your budget, and prioritizing maintenance over repair costs. Trusted dealers, reputable online sites like AutoTrader, and certified dealers registered with organizations like Ombudsman ensure consumer protection.
Considerations for purchasing a used car, hybrid, or EV
When buying used cars, hybrids, or electric vehicles (EVs), it is important to consider factors such as battery life, warranty, and dealership reputation. Maintaining a quality relationship with the dealer, reading the owner's manual, and using resources like dash cams for insurance purposes can also help ensure a smooth car-buying experience.
Suki is in the market for her first car. She would like to purchase an electric vehicle but doesn't know if she can really afford it.
Jordan interviews an auto industry expert to better understand current market trends and develop a roadmap for buying a car right now.
Do you have a money problem? Call us and leave a message at 416-935-5935. Or email us at hello@itepod.ca. You can also find us on Instagram and TikTok @InThisEconomyPod. Don't forget to leave a call-back number, so we can get in touch.
Do you have a topic that's confounding you in this economy? We'll be happy to dig into it for you and get you the answers you need. Email us at: rogerspodcastnetwork@rci.rogers.com. Thank you for listening!
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode