The Meaningful Money Personal Finance Podcast Buying A Used Car, with Dave O’Sullivan
Oct 4, 2023
Dave O'Sullivan, a car industry expert, shares his decades of knowledge and experience in the car trade. They discuss key points on buying a car, emotional aspects of car purchasing, comparing numbers between buying and leasing an electric car, where to buy used cars, and favorite online content creators.
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Needs vs. Wants
- Write down your car needs before shopping to avoid emotional purchases.
- Wants, like fancy features, can distract from essential needs like boot size or seating.
Financing Methods
- Cash is generally best for buying cars, as borrowing for depreciating assets is risky, especially with high interest rates.
- Consider personal loans for flexibility, but understand the risk of debt without a functioning car if it breaks down.
Best Places to Buy
- Start car searches on AutoTrader to utilize filters and identify insurance write-offs quickly.
- Then, consider buying from reputable independent garages for better protection than private sellers.