They way you bought a car in the past is much different than your options today. Maybe you like to “kick the tires” and you still can, but chances good that when you arrive on the lot – you already know exactly what you’re going to buy.
We cover a lot in this show with guest Jerry Brodeur of Berkshire Hathaway Automotive. Much more than we could ever wrap up into a tiny title and little description. Things like: how to get the upgrades you want for less, what to look for in a used car, what to avoid, what not to avoid. The list goes on… and on.
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Is it time for you to sell your car and get a new one? It’s definitely time for the NY Jets to sell Sam Darnold and get a new quarterback, according to Steve and Felecia. But when it comes to your car, there are many considerations on what path to go when shopping for a new (or used) vehicle.
- If you’re buying a used car, don’t buy from a friend or neighbor — they likely won’t be your friend for much longer.
- A big mistake folks make when buying a car is rushing into it. Instead, try renting a car for a week in the model you’re considering purchasing and see if you like it.
- Many people are moving their car shopping online rather than in the dealerships. The average buyer spends 16 hours shopping online for a car before going to a dealership. Some skip the dealership altogether and have their vehicle and paperwork delivered to their house.
- When buying a used car, find a salesperson and mechanic you trust. There are many ways to get caught up in used car scams, but they are avoidable if you take proper steps.
How to Win the Car Buying Process
So your car needs several parts fixed, and the cost to repair exceeds the price of a new car. So, you’ve decided to call it a day on your current car and look to the market. Financially, this is probably the right move, but you need to be careful, or you could end up with a worse-off vehicle than you started with when you began the process.
When you are in sudden need of a car, often you’ll look to the first opportunity that arises. That is usually a friend or neighbor you know who happens to be selling their car. In this case, many buyers skip the step of having a mechanic check the vehicle for any issues because they are afraid of offending their friend. Then, that first time you go in for an oil change, you discover all the reasons your neighbor was eager to offload the car.
Here are the steps you can take in the buying process to avoid these challenges
- Review any used car with a third party mechanic that you find through reviews or referrals from friends
- Test the car model you’re considering from a rental organization first to make sure you actually like it without the pressure of a salesperson in the car
How the Internet is Changing Car Shopping
Jerry Brodeur of Berkshire Hathaway joined the show, and one of the insights he revealed is that today, the average person spends 16 hours online searching for the car they want before going to any dealerships. Once they get to the dealership, they usually have a near-certain plan for what car they want to buy — if they go to the dealership at all.
- COVID-19 has accelerated a trend where car buyers never have to go to a dealership, and instead get their car and paperwork delivered.
- The shift to online shopping means that if car salespeople want to compete, they need to be even more people-oriented and shift their image away from the sleazy car salesman.
- Brodeur’s business offers a form of concierge service where Jerry will escort car buyers through the process, helping protect buyers from sales gimmicks and teaching salespeople how to excel at the same time.
The Debate: New vs. Used
There’s a consistent debate in the automotive community of whether to buy a brand new car or a used car. Here are some considerations from the gang:
- Most new cars lose value immediately when driven off the lot, so what are you really gaining?
- If you care about always having the newest model, leasing a new car is likely the best option.
- If you’re looking for updated gadgets like Bluetooth or rear-view cameras, it is often possible to add those after the fact to a car for less money than buying the package upfront. So, don’t make technology your primary motivator for buying a new car.
- If you’re making payments for the next five years, make sure that the car will fit your needs for five years. If you think you’ll grow your family, move to a different climate, or make some other life change, make sure your car can accommodate, or that it will be paid off before you make those changes
Until next time, Stay Safe and Drive Friendly, Arizona!