DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing Buying a Car: New v. Used
May 7, 2025
Dive into the world of car buying as hosts explore the perks of new versus used vehicles. Discover how the COVID-induced semiconductor shortage has impacted prices and availability. Gain insights on avoiding upsells and staying firm during dealership negotiations. Listen to a gripping tale of a car malfunction that emphasizes the importance of smart choices. Ultimately, the discussion highlights personal experiences and critical factors to consider in making your next car purchase.
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Consider New Cars Due to Market Shift
- Buying a new car is more viable now due to narrower price gaps with used cars.
- Take advantage of low financing rates and put a large down payment to reduce cost.
Reject Dealer Add-On Offers
- Be firm and say no to dealership add-ons like extended warranties and paint sealants.
- Dealerships will aggressively try to sell these, so prepare to decline repeatedly.
Logan's Car Disaster Story
- Logan experienced total brake failure followed by a fire that destroyed his car.
- He advocates considering new cars for better deals given recent market changes.