Used Cars! What a quagmire! Every fraught transaction can leave you feeling like “I got screwed!” And it can feel like the wild Wild West with bandits around every corner, trying to pawn lemons to the uninformed. Steven has a long conversation with Ian Bishop, who has an insider’s perspective on how this industry really works. He tells us how to maximize trade-ins, when to get rid of your car, how to consider future payments, and even some tips on which 3rd row SUV is a particular GET right now! Listen to Ian and Get Savvy!
Abraham's Wallet exists to inspire and equip Biblical family leaders. Please partner with us in inspiring and equipping multi-gen families at https://abrahamswallet.com/donate/
About Abraham's Wallet:
AW website: https://abrahamswallet.com/2017/11/27/what-is-abrahams-wallet/
Apple Podcasts: https://podcasts.apple.com/us/podcast/abrahams-wallet/id1462593706
Spotify: https://open.spotify.com/show/6xbcf3IhayaoKB4sTegPRw?si=4M-m7mwUR0GigEkgrf3aJA
YouTube full episodes: https://www.youtube.com/@abrahamswallet
Twitter: https://twitter.com/abrahamswallet
Facebook: https://facebook.com/abrahamswallet
Instagram: https://www.instagram.com/abrahamswallet
This Week's Episode Rundown:
0:00 introduction to the episode
2:54 1 Is this a good time to buy a used car?
3:54 2what’s happening on the car market?
6:33 3 it is good time to sell a car?
7:05 4 recommendations when buying a car
12:25 car dealership models
13:35 independent dealers
14:43 franchise model
18:24 5 it is better to pay cars in cash?
20:51 6 it is better to sell to individuals?
23:09 7 secret: relationship with dealer
24:54 poverty mindset
26:14 difference in rates based on how old is the car
29:36 Steven’s situation: selling an old Toyota Land Cruiser
33:03 interruption 34:33 personal advice
37:45 8 how cars depreciate
40:20 9 trusting car brands
45:50 recap and preview follow-up episode