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Speaker 1: Welcome to How the Money. I'm Joel and I am

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Speaker 1: Matt and today we're discussing getting a deal on a

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Speaker 1: car without the headaches with LeAnn Shattuck, a k a.

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Speaker 1: The Car Chick. Yeah, I'm really looking forward to our

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Speaker 1: conversation today with Lee and Shattuck. Who is the car Chick.

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Speaker 1: Leanne is passionate about educating people about cars uh and

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Speaker 1: empowering them to make informed decisions when purchasing, selling, and

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Speaker 1: servicing their their vehicles. Uh. So this is going to

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Speaker 1: be an extremely practical conversation today. She is an automotive

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Speaker 1: expert and a self professed car nut, as well as

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Speaker 1: a champion race car driver. As as Leanne began her

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Speaker 1: her high performance driving at the age of eight, she

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Speaker 1: was also a radio and television host. She's been on NPR,

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Speaker 1: the Speech Channel, and she was the host of the

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Speaker 1: nationally syndicated radio show America's Garage. So Leanne has a

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Speaker 1: wealth of knowledge that we are excited to get into.

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Speaker 1: So Leanne, thank you for joining us on the podcast today. Well,

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Speaker 1: thank you guys for having me. I'm glad to have

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Speaker 1: you Leanne. We're excited to chat about everything cars today.

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Speaker 1: But before we get to that. I wanted to ask you.

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Speaker 1: Matt and I we drink a craft beer in every

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Speaker 1: episode because we like beer a lot, and it's something

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Speaker 1: that we are willing to splurge on in the here

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Speaker 1: and now while we're trying to save and invest wisely

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Speaker 1: for the future. What is your splorage? What's your craft

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Speaker 1: beer equivalent? You know, if you'd asked me that question

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Speaker 1: before the pandemic, my answer probably would have been different.

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Speaker 1: But now my indulgence is on a service, not a product.

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Speaker 1: It's on food delivery. The pandemic has made me even

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Speaker 1: lazier when it comes to feeding myself. I don't like

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Speaker 1: to cook. I like to bake, but I don't like

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Speaker 1: to cook. So when I can get on my phone

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Speaker 1: and you know, press a few buttons and boom, food

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Speaker 1: magically appears on my doorstep. Wow, So my monthly budget

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Speaker 1: is going towards that quite a fair right now? Yeah?

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Speaker 1: It could. It could seriously take a bite out of

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Speaker 1: that monthly food budget. I wonder too. I'm curious if

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Speaker 1: you if you like baking, because baking is a very

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Speaker 1: precise thing. When it comes to automobiles, you know, there's

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Speaker 1: there's no wiggle room like something he's either correct and

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Speaker 1: dialed in I feel like, or it's not. You know,

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Speaker 1: there's there's not a lot of room for cooking in

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Speaker 1: your life, but I could see how baking might translate

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Speaker 1: to cars. Is that maybe accurate? Yeah, I think so,

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Speaker 1: in perhaps not as much towards cars, but simply to

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Speaker 1: my overall being a control freak. Well I was, I'm glad.

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Speaker 1: I was thinking that maybe for your sports you're gonna

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Speaker 1: say something along the lines of a car like I

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Speaker 1: like the fancist breakpads, or like only synthetic oil. I

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Speaker 1: don't know, but it's not that you have other things

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Speaker 1: you enjoy too. Those are valid points, and synthetic oil

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Speaker 1: is not really a splurge. It's better for the cars,

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Speaker 1: better for the environment. And break pad. Yes, I will

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Speaker 1: splurge on the really good break pads when I take

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Speaker 1: my car whose name is Maggie, by the way to

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Speaker 1: the track, because but that's not I don't consider that

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Speaker 1: a splurge. Break pads on the racetrack probably the most

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Speaker 1: important thing, So definitely yeah. Yeah, well, lean, you know

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Speaker 1: you just mentioned how your your car's name is Maggie.

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Speaker 1: You had a recent episode which is called straight Shift

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Speaker 1: by the way, about why people shouldn't name their car,

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Speaker 1: and so, you know, why do you feel that that's

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Speaker 1: so important for folks to do. I feel that if

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Speaker 1: you name your car, then it's part of the family

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Speaker 1: and you're more likely to take good care of it,

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Speaker 1: both mechanically and cosmetically. So I have named my cars

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Speaker 1: for years. It started when when I turned thirty, I

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Speaker 1: had my first midlife crisis and I bought a bought

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Speaker 1: a little red Porsche and I named her Penelope, and

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Speaker 1: kind that sort of started the trend. And so now

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Speaker 1: I name all my cars, and I'll name other people's

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Speaker 1: cars too if they don't, so be aware. I'll name

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Speaker 1: your cars if you don't name your own. So I

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Speaker 1: think that is such an interesting thing though. I think

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Speaker 1: you're right, because when we put a name to something,

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Speaker 1: it gives it like more weight in our life. And yeah,

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Speaker 1: we don't we want to treat our car as well,

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Speaker 1: because the better we treat them, the longer they last,

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Speaker 1: the more money we save, right absolutely, And it's safer

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Speaker 1: when your car is operating properly, that's truth. And you

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Speaker 1: got obsessed with car starting at age two, right is

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Speaker 1: that how early it started? I believe, so you'd have

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Speaker 1: to confirm with my mother. But that was at the

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Speaker 1: time when Disney came out with the Herbie the love

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Speaker 1: Bug movies that came out just before I was born,

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Speaker 1: and I just fell in love with that silly little Volkswagen.

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Speaker 1: And my neighbors had a Classic Beetles, so they were

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Speaker 1: classic then, they were new back then. I'm dating myself,

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Speaker 1: but yeah, they were very well, they're cute, but for

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Speaker 1: a two year old, it was an extremely recognizable shape

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Speaker 1: on the road, so I could always spot them, and

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Speaker 1: I loved orange e Volkswagons. So yeah, there's a reason

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Speaker 1: why punch Bug was a game. I mean, I don't

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Speaker 1: know if if you ever played that as a kid,

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Speaker 1: but I definitely did. Very recognizable. And yeah, that's so

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Speaker 1: funny because that car actually had a name as well.

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Speaker 1: But uh, you know, you're talking about how you take

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Speaker 1: care of your vehicle better, you know when when you

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Speaker 1: do name it. So let's let's talk about, yeah, taking

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Speaker 1: good care of your car. Lots of folks you know

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Speaker 1: probably aren't keen on, you know, trying to repair their

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Speaker 1: own vehicles. Do you feel that, you know, more of

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Speaker 1: us should be giving it a shot? And and and

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Speaker 1: if so, like, where should we even begin? When it

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Speaker 1: comes to maintaining our cars. These days, it's next to

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Speaker 1: impossible to maintain your own vehicle because cars today are

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Speaker 1: more computers in many ways than they are mechanical beings.

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Speaker 1: So unless you have the computers to communicate with your car,

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Speaker 1: even changing your own oil can be a challenge because

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Speaker 1: now it's not just about draining out the old oil,

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Speaker 1: changing the filter putting in the new oil. You have

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Speaker 1: to communicate with your car's computer to reset ten million

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Speaker 1: front parameters and we just don't have the computers to

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Speaker 1: do that. The shops do so. Plus it's not necessarily

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Speaker 1: cost effective to do for an oil change, you know,

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Speaker 1: spend your your sixty seventy bucks now, don't do the

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Speaker 1: nineteen dollar one unless your car takes the absolute cheapest

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Speaker 1: oil in the market. Do a good oil change, and

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Speaker 1: it just makes more sense. It's safer, it's better for

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Speaker 1: the environment to make sure it's disposed of properly, and

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Speaker 1: you also have a qualified mechanic looking at your car

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Speaker 1: to let you know, hey, is anything else wrong with it?

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Speaker 1: They should be performing that safety check every time they

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Speaker 1: touch your car. That being said, finding a good mechanic

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Speaker 1: that you can trust can be also be a big challenge. Yeah,

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Speaker 1: so that's actually I want to ask you about that

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Speaker 1: because it can be I think a lot of people

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Speaker 1: obviously it's it's daunting to do much work on your car,

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Speaker 1: especially modern cars. Like I remember twenty years ago trying

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Speaker 1: to replace my own alternator, and it was a little

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Speaker 1: bit easier back then than it is to do work

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Speaker 1: on on some of the newer vehicles that are out there.

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Speaker 1: But let's say you are trying to find a mechanic

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Speaker 1: that you can trust that is going to be able

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Speaker 1: to work on your vehicle for years and years to come, Like,

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Speaker 1: how do you find a really good one? That's challenging.

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Speaker 1: The first thing you have to do is start with

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Speaker 1: finding a shop that is qualified to work on the

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Speaker 1: type of vehicle that you have. Not all shops have

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Speaker 1: the same training, not all shops have the same equipment.

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Speaker 1: If you've got something like a Honda or a Toyota,

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Speaker 1: it's a little bit easier because those cars are engineered

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Speaker 1: with maintenance in mind. The Japanese are great at that,

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Speaker 1: so they're a little bit easier to work on. If

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Speaker 1: you've got a German car, forget it. You have to

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Speaker 1: take it to a German qualified specialty shop because the

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Speaker 1: computers to speak to the German cars are extremely expensive.

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Speaker 1: They require a lot of very specialized tools to change

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Speaker 1: out the parts, and it takes more in depth training.

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Speaker 1: German cars are just over engineered. They can be very

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Speaker 1: very fun as a result, but they're also a royal

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Speaker 1: pain in the butt to work on. So you have

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Speaker 1: to find a shop that has the equipment and the

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Speaker 1: train technicians to work on the type of vehicle that

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Speaker 1: you have, and some of the best ways to do

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Speaker 1: that is to ask people you know who have similar cars, Hey,

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Speaker 1: where do you go? Who do you trust? There's so

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Speaker 1: much turnover in the automotive service industry. I mean, we

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Speaker 1: can do a whole podcast on why I think the

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Speaker 1: automotive service industry is completely broken. But there's a lot

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Speaker 1: of turnover in the mechanics. So finding that one person

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Speaker 1: you trust and going to them for twenty years that

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Speaker 1: just doesn't happen is easily anymore. So it's a little

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Speaker 1: bit more challenging. But one find a shop that specializes

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Speaker 1: in the type of car that you have, or take

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Speaker 1: it to the dealership, or find a shop and a

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Speaker 1: technician who is a s E Master certified. The a

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Speaker 1: s C is a certification board. Mechanics have to take

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Speaker 1: a number of tests to be able to get those certifications,

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Speaker 1: and it really demonstrates their knowledge and their experience. So

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Speaker 1: that's my recommendation. I found one and I married him

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Speaker 1: because I do want to let it get away. So

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Speaker 1: that really smart. I should have married my mechanic a

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Speaker 1: long time. Again, that's not doing wrong. Yeah, there's actually

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Speaker 1: a mechanic uh here in Atlanta called my Mechanics a woman.

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Speaker 1: Is that what it's called. There's a favorite mechanic is

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Speaker 1: a woman. Yeah. I actually know the owners their franchise. Yeah,

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Speaker 1: we we connected about oh gosh, probably back in two

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Speaker 1: thousand eight, two thousand nine, because we found each other online.

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Speaker 1: And yeah, I'm really impressed with with what she's done.

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Speaker 1: And there are more and more women getting into the

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Speaker 1: industry and they are doing things very, very differently. They're

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Speaker 1: turning the model upside down. And most of the women

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Speaker 1: owned shops that I know do a great job. They're

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Speaker 1: just few and far between. Yeah, that's cool, all right.

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Speaker 1: So before you even buy a car, how much are

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Speaker 1: you looking into the potential repair costs? Of that car model.

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Speaker 1: Because you talked about German cars being fun to drive.

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Speaker 1: Over engineered, it's probably gonna cost you more to get

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Speaker 1: that repaired. So how much should people be looking to

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Speaker 1: the likely repair costs of a specific make and model

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Speaker 1: that they're considering purchasing before they actually pulled the trigger.

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Speaker 1: If it's a vehicle that they plan to keep past

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Speaker 1: the warranty period, you're really past fifty miles, which is

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Speaker 1: when you start to get into a little bit more

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Speaker 1: in depth maintenance and potentially more expensive repairs. Even the

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Speaker 1: cost of replacing tires, especially on the SUVs that have

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Speaker 1: the larger wheels, your twenty inch wheels, you're twenty one

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Speaker 1: inch wheels. Go and check out the price of those tires. Sometime.

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Speaker 1: It's a little bit frightening. They are not cheap the

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Speaker 1: bigger you get. So if you're planning to keep the

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Speaker 1: car longer term, you know you're not leasing, or you're

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Speaker 1: not somebody who flips cars every three or four years,

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Speaker 1: then it's definitely a consideration. When I'm working with my

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Speaker 1: clients on figuring out what's the perfect car to buy

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Speaker 1: for them, that's one of the things that we look at.

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Speaker 1: We look at their priorities, and if long term low

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Speaker 1: maintenance costs are high on their priority list, then you

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Speaker 1: know number one, that pretty much eliminates anything German and

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Speaker 1: we start looking at Okay, well, let's start looking at

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Speaker 1: the Japanese cars as opposed to the American cars through

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Speaker 1: the European cars. So yeah, for that reason, that's why

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Speaker 1: I plan on keeping our Honda many Van for like

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Speaker 1: twenty years. We're not gonna that thing is not gonna

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Speaker 1: go anywhere, uh Lee. And I'm also curious to you,

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Speaker 1: I mean, you mentioned you kind of teas to the

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Speaker 1: fact that the you know, like the entire maintenance profession

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Speaker 1: mechanics like that, how that whole system is kind of broken.

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Speaker 1: Can you just, you know, kind of briefly explain why

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Speaker 1: it is that that's kind of that's just maybe not

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Speaker 1: working out. Absolutely. The mechanics, most of them at most shops,

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Speaker 1: are paid by the job, and so a job like

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Speaker 1: say a break job on this particular make and model,

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Speaker 1: there are book times for how long the industry thinks

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Speaker 1: that job should take, and that's how much the mechanic

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Speaker 1: is paid, regardless of how long it actually takes to

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Speaker 1: do that job. And so that means the mechanics are

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Speaker 1: incented to work really, really fast, and the only way

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Speaker 1: for mechanics to make money and to make and even

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Speaker 1: an okay living is to be fast. And then you

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Speaker 1: look at the dealerships in the shops, they need the

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Speaker 1: mechanics to be fast too, because they need to make

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Speaker 1: that money by moving cars through their shop quickly. And

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Speaker 1: so we we have a joke in the industry there

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Speaker 1: are three types of jobs. You can pick only two

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Speaker 1: of them. It can either be cheap, fast, or good,

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Speaker 1: but not all three. And unfortunately, the good is often

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Speaker 1: what gets sacrificed because the mechanics are financially incented to

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Speaker 1: cut corners and to move fast, and it's just it's

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Speaker 1: really hard, and it's one of the reasons there's a

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Speaker 1: lot of turnover. Two is because you know, they're pressured

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Speaker 1: now they're waiting on parts to come in. You know,

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Speaker 1: does the customer even authorize the work. There's a lot

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Speaker 1: of downtime. So for a mechanic to actually get paid

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Speaker 1: for forty hours a week, he's probably working six sixty five.

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Speaker 1: It's not a lifestyle that a lot of people are

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Speaker 1: happy with. And so the mechanics switch shops all the

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Speaker 1: time trying to find the grain or grass on the

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Speaker 1: other side of the fence, and it's just not And

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Speaker 1: that's why my husband left the industry last year entirely.

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Speaker 1: It's just he's a perfectionist too, and you can't make

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Speaker 1: money as a perfectionist in that industry, in the traditional

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Speaker 1: retail service industry. So it's kind of sad. Yeah, it's sad,

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Speaker 1: but I mean, it makes sense why you you have

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Speaker 1: that burnout, and makes sense to why so many folks

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Speaker 1: have been in lots of situations where you go into

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Speaker 1: a shop, you have your car worked on, and then

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Speaker 1: your car starts, you know, unfortunately messing up. We have

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Speaker 1: some friends and they're very I mean a few days

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Speaker 1: later they're on the side of the road side of

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Speaker 1: the interstate because their car had overheated after having been

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Speaker 1: worked on. Unfortunately. It seems like a lot of times that, yeah,

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Speaker 1: subpar work is being performed, but it's also good to

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Speaker 1: know why that is. Yeah, And it's also people need

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Speaker 1: to as car owners, need to be more responsible. A

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Speaker 1: lot of the times, paying for auto repairs is not

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Speaker 1: what you would call fun. It's not something that people

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Speaker 1: look forward to in their monthly budget. So a lot

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Speaker 1: of times they say no to things that their car

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Speaker 1: really needs, either because they don't want to spend the money,

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Speaker 1: or perhaps they don't trust that the mechanic is being

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Speaker 1: honest with them about what it needs. And in that case,

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Speaker 1: I advise people ask them to show you what they're

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Speaker 1: talking about. Ask them to be very very specific. If

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Speaker 1: they say a fluid needs to be changed because it's dirty,

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Speaker 1: you need a transmission fluid change, have them show you

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Speaker 1: a sample the fluid. If the fluid is brown, then yes,

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Speaker 1: it absolutely needs to be changed, and you don't mess

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Speaker 1: with that if you want your car to last. You know,

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Speaker 1: if they say you need new breaks, well, then ask well,

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Speaker 1: how much friction material is left on my pads. You'll

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Speaker 1: find that it's a little more difficult for them to

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Speaker 1: lie to you when you're asking for specific quantitative information.

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Speaker 1: And you know, if they say, hey, yeah, let me

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Speaker 1: show you, then then you know you can trust them.

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Speaker 1: So it just takes a little bit more digging. And

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Speaker 1: if it's a larger repair, feel free to get a

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Speaker 1: second opinion, just like you what if you've got a

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Speaker 1: diagnosis from your doctor. There's nothing wrong with getting a

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Speaker 1: second opinion. Not all mechanics are created equal. There is

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Speaker 1: a huge range of skills and experience, and especially when

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Speaker 1: it comes to more complicated repairs and diagnostics, So it

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Speaker 1: never hurts to get that second opinion, even if you

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Speaker 1: end up paying another, you know, seventy bucks for another diagnostic,

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Speaker 1: it's worth it to know what your car actually needs

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Speaker 1: and what it doesn't. Yeah, especially before one of those

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Speaker 1: really big expensive repairs. And also too, we've talked about

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Speaker 1: this on the show before, it's important to budget for

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Speaker 1: those car expenses because yeah, it's it's uh, it's frugal,

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Speaker 1: not cheap, to to be able to actually put money

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Speaker 1: towards those car expenses that you're not stuck with something

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Speaker 1: even more expensive, even more expensive repairs. Further on down

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Speaker 1: the line, Um, hey, lem, we've got a couple more

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Speaker 1: questions to get to. We want to talk actually about

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Speaker 1: buying a car and and in particular like some of

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Speaker 1: the changes that COVID has had in the car market,

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Speaker 1: and we'll get to some questions on that right after

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Speaker 1: this break. All right, we are back. We're talking with

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Speaker 1: Lee and Shattuck about car stuff basically, and Lean's the

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Speaker 1: car chicks. She knows all about vehicles and before we

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Speaker 1: dive into new cars, Lee, and let's talk about COVID.

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Speaker 1: You know, the car market, car production, it's shifted quite

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Speaker 1: a bit because of COVID. What has happened and how's

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Speaker 1: it that that you think consumers should respond to that? Well,

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Speaker 1: to say that the industry is a little bit of

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Speaker 1: a mess right now would probably be an understatement. We

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Speaker 1: need to step back a year and look at what

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Speaker 1: happened when this whole pandemic first hit the United States

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Speaker 1: and we started these lockdowns, And depending on where you

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Speaker 1: are in the country, the lockdowns were more severe than others,

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Speaker 1: and some dealerships were closed. In some places they weren't,

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Speaker 1: but nobody was going out. Literally, last April, I was

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Speaker 1: the top ranking salesperson for one of my local Subaru dealerships.

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Speaker 1: I literally sold more cars for them than any of

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Speaker 1: their sales people did because nobody was going into the dealerships,

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Speaker 1: so they had a lot of supply building up. And

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Speaker 1: the dealers were freaking out because they're like, we're not

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Speaker 1: selling any cars, and but the manufacturers were still producing

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Speaker 1: them and wanting the dealers to take more inventory. And

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Speaker 1: then he was like, we can't take any more inventory.

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Speaker 1: We haven't sold what we had. But what happened was

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Speaker 1: the manufacturers released a lot of good incentives, most of

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Speaker 1: them being financial, with five even six years zero percent financing,

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Speaker 1: sometimes delayed payments for people that might be a little

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Speaker 1: financially wary about their future with the pandemic, and so

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Speaker 1: there were some good incentives out there for the people

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Speaker 1: who did have a little more financial security. And so

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Speaker 1: when the restrictions started lifting and people were able to

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Speaker 1: start going out a little bit, and this really happened

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Speaker 1: in about June, it didn't take very long. Especially in

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Speaker 1: the South. There was a lot of pent up demand

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Speaker 1: and so everybody rushed stout to take advantage of those

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Speaker 1: great deals that were out there, and we saw this

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Speaker 1: massive swing from a too much supply to not enough

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Speaker 1: supply because also last spring production at all the manufacturing

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Speaker 1: plants all over the world shut down at least for

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Speaker 1: a certain amount of time. And you have to remember

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Speaker 1: the car industry is completely global, So your car may

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Speaker 1: be built in Kentucky or in Germany or in Japan,

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Speaker 1: but the parts that go into making that car are

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Speaker 1: sourced globally. So the plant might have been open, but

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Speaker 1: they couldn't get these ten important parts from this other

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Speaker 1: country that was still shut down. So it's been a

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Speaker 1: huge mess and we've been trying to get production caught

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Speaker 1: up with the demand. Was a record sales year in

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Speaker 1: the automotive industry and they literally sold out of everything.

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Speaker 1: And we are still seeing in inventory shortage across pretty

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Speaker 1: much all of the main facturers. Depends on the make

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Speaker 1: a model and where it's produced. But what's hurting us

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Speaker 1: now there's a global shortage of superconductors computer chips. Guys,

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Speaker 1: we can't build cars without computer chips. There are hundreds

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Speaker 1: of computer chips in every car, and because there's a

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Speaker 1: global shortage of those, most of which are manufactured in China,

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Speaker 1: we're still seeing production delays and slowdowns because we can't

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Speaker 1: get the durned chips to put in the cars. It's crazy. Yeah,

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Speaker 1: I think I saw that. Yeah, Once the car industry

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Speaker 1: kind of shut down, you know, all these chip makers

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Speaker 1: were like, we got all these chips, and then all

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Speaker 1: the electronics companies and industries basically jumped on and pounced

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Speaker 1: because it's like, oh, we'll take those chips. A matter

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Speaker 1: of getting the car industry back, you know, it's like

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Speaker 1: a massive freight train difficult automotive industry has to compete

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Speaker 1: with the consumer electronics industry for those same computer chips.

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Speaker 1: And how many people have gotten new phones, iPads, laptops,

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Speaker 1: tame consoles, anything to keep ourselves connected in school, working,

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Speaker 1: insane during the pandemic. Yeah, it's true. Uh, Leon, let's

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Speaker 1: talk more about car buying. Two. You had an interesting

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Speaker 1: post not too long ago on your site about buying

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Speaker 1: a new car versus buying a used one, And that's

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Speaker 1: just like a fascinating topic, especially for a personal finance show.

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Speaker 1: And one of the stats that you mentioned in that

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Speaker 1: article was pretty fascinating. Most people own thirteen cars over

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Speaker 1: their lifetime, you said, each one costing on average about

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Speaker 1: thirty dollars. So there's obviously just a ton of money

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Speaker 1: at stake in a decision about whether you're going to

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Speaker 1: buy a new or a used car. So what tips

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Speaker 1: do you have for someone who's trying to decide, like,

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Speaker 1: should I be going into the new car marketplace looking

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Speaker 1: for a deal there, or should I be trying to

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Speaker 1: get a car that's four or five six years old

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Speaker 1: in order to save some money? Absolutely, and you need

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Speaker 1: to start with looking at what your priorities are. The

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Speaker 1: new versus used business case is not as and dry

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Speaker 1: as it was even ten years ago, and part of

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Speaker 1: that has changes in the marketplace have driven up the

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Speaker 1: cost of used cars. But one of the biggest things

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Speaker 1: that affects it is the prevalence of technology. Since about

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Speaker 1: sixteen the bells and whistles, the technology that's gone into

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Speaker 1: cars has changed dramatically, between all the driver's safety technology,

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Speaker 1: which is one of the biggest desires of consumers right

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Speaker 1: now too, a lot of the what they now call

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Speaker 1: the infotainment system. Again, your car has become an extension

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Speaker 1: of your cell phone with the implementation of Apple car

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Speaker 1: Play and Android Auto. So you really need to look

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Speaker 1: at what your priorities are and if having some of

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Speaker 1: those technology features is really important to you, then you

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Speaker 1: may be looking at a newer vehicle. Again, you have

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Speaker 1: to look at the inventory situation the car that you want.

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Speaker 1: There may not be any right now. You may have

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Speaker 1: to wait. I'm working with a client right now, she's

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Speaker 1: very interested in a Nissan Morano. Inventory on those is

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Speaker 1: pretty short, but the car hasn't changed significantly in the

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Speaker 1: last couple of years. And this morning, actually I found

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Speaker 1: a twenty nineteen certified pre owned model that had been

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Speaker 1: a late entry into the dealer's demo and loaner fleet.

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Speaker 1: It has less than three thousand miles on it, and

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Speaker 1: we're gonna be able to save about thirteen thousand dollars

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Speaker 1: off the original sticker. Sounds awesome, and being certified it

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Speaker 1: has a longer powertrain warranty, so she's really going to

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Speaker 1: end up better off overall. It's not just about the money.

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Speaker 1: You need to make sure that you're going to be

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Speaker 1: able to get the features that you want to have,

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Speaker 1: But you look at potentially a certified pre owned model,

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Speaker 1: look for those dealer demos or loaners. Got to think

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Speaker 1: outside the box sometimes and really look to see what's

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Speaker 1: out there, and you may be able to save some

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Speaker 1: good money if you can find one of those diamonds

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Speaker 1: in the rough, the little gems that were the dealer

429
00:22:56,160 --> 00:22:59,240
Speaker 1: loaners or demos. Right. Yeah, So, I mean basically, what

430
00:22:59,280 --> 00:23:01,119
Speaker 1: you're saying is you start with your priorities. But what

431
00:23:01,160 --> 00:23:03,879
Speaker 1: if I mean, what if your priority is primarily money?

432
00:23:04,000 --> 00:23:06,439
Speaker 1: Is primarily financial? Like, what if you are trying to

433
00:23:06,560 --> 00:23:09,040
Speaker 1: avoid spending a lot of money or you're just trying

434
00:23:09,080 --> 00:23:11,520
Speaker 1: to spend as little money as possible, Like, how how

435
00:23:11,560 --> 00:23:13,520
Speaker 1: should you think about a new car versus a used

436
00:23:13,520 --> 00:23:16,639
Speaker 1: car when you're primarily looking at the dollars and cents.

437
00:23:17,240 --> 00:23:18,639
Speaker 1: There's two things you have to look at. One, you

438
00:23:18,640 --> 00:23:21,240
Speaker 1: need to look at that initial deppreciation on the car.

439
00:23:21,800 --> 00:23:24,359
Speaker 1: The old adage of well, it loses half of its

440
00:23:24,440 --> 00:23:26,320
Speaker 1: value the minute you drive it off the lot. That's

441
00:23:26,359 --> 00:23:29,119
Speaker 1: not really true anymore. Cars are holding their value better

442
00:23:29,280 --> 00:23:33,119
Speaker 1: again because of the inventory situation and the overall market dynamics.

443
00:23:33,480 --> 00:23:36,639
Speaker 1: But there is still that initial appreciation. So if you

444
00:23:36,760 --> 00:23:39,439
Speaker 1: look at here's the cost of a new one, and

445
00:23:39,480 --> 00:23:42,639
Speaker 1: see obviously what you can negotiate to get on that.

446
00:23:42,680 --> 00:23:44,919
Speaker 1: If there are large incentives in play, you may be

447
00:23:44,960 --> 00:23:48,280
Speaker 1: able to get a great deal. If there is a

448
00:23:48,320 --> 00:23:52,639
Speaker 1: pretty good depreciation and things like you your high line cars,

449
00:23:52,680 --> 00:23:56,240
Speaker 1: you know, the swanky ones, the BMW, the Lexus, the Mercedes,

450
00:23:56,280 --> 00:23:59,719
Speaker 1: there tends to be a higher initial appreciation on those cars.

451
00:24:00,240 --> 00:24:03,520
Speaker 1: American cars tend to have a hirghed appreciation. Hannas and

452
00:24:03,560 --> 00:24:06,160
Speaker 1: Toyotas they tend to hold their value a little bit better.

453
00:24:06,200 --> 00:24:08,159
Speaker 1: So you may only be saving two thousand dollars by

454
00:24:08,200 --> 00:24:10,720
Speaker 1: buying a used Toyota versus buying a new one. It

455
00:24:10,800 --> 00:24:13,879
Speaker 1: really depends on the exact making model. But look at

456
00:24:13,920 --> 00:24:17,240
Speaker 1: what that initial appreciation is. If you're looking at what

457
00:24:17,359 --> 00:24:19,960
Speaker 1: I call a slightly used or a gently used car.

458
00:24:21,280 --> 00:24:23,159
Speaker 1: If you're looking at saving more money and you have

459
00:24:23,200 --> 00:24:25,560
Speaker 1: a little more conservative budget, then you're most likely going

460
00:24:25,600 --> 00:24:28,760
Speaker 1: to be looking used anyway. And then it's a matter

461
00:24:28,960 --> 00:24:32,199
Speaker 1: of looking for a good quality car, a card that

462
00:24:32,440 --> 00:24:34,399
Speaker 1: you know, like something like a Toyota that has a

463
00:24:34,400 --> 00:24:36,840
Speaker 1: good reliability history, and you can buy one that's six

464
00:24:36,920 --> 00:24:40,199
Speaker 1: years old that has been well maintained and now that

465
00:24:40,240 --> 00:24:42,560
Speaker 1: it's going to be fine and will cost you less

466
00:24:42,600 --> 00:24:45,120
Speaker 1: in the long run. But there's a trade off between,

467
00:24:45,560 --> 00:24:48,480
Speaker 1: you know, the the age and the amount of money

468
00:24:48,480 --> 00:24:51,960
Speaker 1: you're going to have to spend on repairs. So obviously,

469
00:24:52,000 --> 00:24:53,840
Speaker 1: if you are looking used, look for one that's been

470
00:24:53,840 --> 00:24:56,240
Speaker 1: well maintained and look for a model that has a

471
00:24:56,240 --> 00:24:59,320
Speaker 1: good history of reliability. I tell people that I would

472
00:24:59,440 --> 00:25:02,520
Speaker 1: rather buy I a well main chained Toyota that has

473
00:25:03,359 --> 00:25:06,720
Speaker 1: twenty thousand miles versus maybe you know a car that

474
00:25:06,760 --> 00:25:10,480
Speaker 1: doesn't have as good of a reliability history American counterpoint

475
00:25:10,680 --> 00:25:15,280
Speaker 1: that has seventy miles, So it's more than just the

476
00:25:15,320 --> 00:25:17,719
Speaker 1: pure numbers. You gotta look at your apples and your

477
00:25:17,720 --> 00:25:20,560
Speaker 1: oranges and see what quality you're getting for that money.

478
00:25:20,600 --> 00:25:22,520
Speaker 1: All right, So let's say somebody is saying, you know what,

479
00:25:22,720 --> 00:25:25,080
Speaker 1: for me, buying a new car makes sense, that's the

480
00:25:25,119 --> 00:25:27,480
Speaker 1: direction I want to go in. But they want to

481
00:25:27,480 --> 00:25:30,000
Speaker 1: get the best deal possible. Do you have a process

482
00:25:30,040 --> 00:25:32,320
Speaker 1: that you suggest to people in order to score a

483
00:25:32,359 --> 00:25:35,080
Speaker 1: good deal on a new car while at the same

484
00:25:35,119 --> 00:25:37,320
Speaker 1: time not wanting to beat your head against the wall,

485
00:25:37,359 --> 00:25:40,520
Speaker 1: like going into the dealership and and like, that's the

486
00:25:40,520 --> 00:25:41,960
Speaker 1: worst thing you could do, right is it sounds like

487
00:25:42,000 --> 00:25:44,040
Speaker 1: the worst weekend of my life? How to do that?

488
00:25:44,119 --> 00:25:46,480
Speaker 1: Have your partner spouse drop you off at the dealership

489
00:25:46,520 --> 00:25:48,359
Speaker 1: and be like, good luck, make it happen, give us

490
00:25:48,359 --> 00:25:50,080
Speaker 1: a car today. Like, that's not how you want to

491
00:25:50,080 --> 00:25:52,080
Speaker 1: do it? How do you want to do it? It's

492
00:25:52,160 --> 00:25:55,600
Speaker 1: really not. Step one is always tould do your homework.

493
00:25:56,040 --> 00:25:59,240
Speaker 1: The great news is the internet is a wealth of information.

494
00:26:00,000 --> 00:26:02,000
Speaker 1: On the flip side, the downside is the Internet is

495
00:26:02,000 --> 00:26:03,960
Speaker 1: a wealth of information and it could be difficult to

496
00:26:04,040 --> 00:26:07,679
Speaker 1: weed through that. So you know, I like sites like Edmonds.

497
00:26:08,320 --> 00:26:11,679
Speaker 1: I use consumer reports to look at quality issues over time,

498
00:26:11,960 --> 00:26:13,680
Speaker 1: but there's a lot of good information out there to

499
00:26:14,200 --> 00:26:17,480
Speaker 1: tell you what you really should pay for a car,

500
00:26:17,600 --> 00:26:21,000
Speaker 1: depending on the incentives that are in play. And then

501
00:26:21,040 --> 00:26:23,160
Speaker 1: you have to look at the market too, because if

502
00:26:23,359 --> 00:26:25,560
Speaker 1: the market is really hot. For example, the Kia tell

503
00:26:25,640 --> 00:26:28,240
Speaker 1: Your Ride been the hottest sub on the market for

504
00:26:28,240 --> 00:26:31,600
Speaker 1: the last two years since they came out. Not only

505
00:26:31,720 --> 00:26:34,040
Speaker 1: do you usually have to wait to get one, but

506
00:26:34,080 --> 00:26:37,240
Speaker 1: the dealers are charging five and six thousand dollars over

507
00:26:37,480 --> 00:26:41,320
Speaker 1: M S r P and getting it because the demand

508
00:26:41,400 --> 00:26:44,320
Speaker 1: far exceeds the supply. So you have to do that

509
00:26:44,440 --> 00:26:48,840
Speaker 1: research first to know even what the playing field looks like.

510
00:26:49,680 --> 00:26:51,680
Speaker 1: And then you want to shop around, and there is

511
00:26:51,720 --> 00:26:54,639
Speaker 1: no reason you cannot do that from your pajamas, in

512
00:26:54,680 --> 00:26:57,439
Speaker 1: the comfort of your own home. Even before the pandemic,

513
00:26:57,720 --> 00:27:00,280
Speaker 1: this is how I have done this. My business, Mottle

514
00:27:00,359 --> 00:27:03,880
Speaker 1: literally has not changed one iota since the pandemic hit.

515
00:27:04,119 --> 00:27:07,080
Speaker 1: I've always shopped for my clients from home all over

516
00:27:07,119 --> 00:27:10,240
Speaker 1: the country. So that allows you to reach out to

517
00:27:10,480 --> 00:27:13,560
Speaker 1: five or six dealers, even reach out to a dealer

518
00:27:13,600 --> 00:27:16,119
Speaker 1: that's not necessarily in your geography if there are a

519
00:27:16,119 --> 00:27:19,080
Speaker 1: couple hours away, they may still do a free home

520
00:27:19,119 --> 00:27:22,119
Speaker 1: delivery for you, especially now that they figured out with

521
00:27:22,160 --> 00:27:25,280
Speaker 1: the pandemic, you can really do that. So keeping them

522
00:27:25,320 --> 00:27:29,400
Speaker 1: honest and shopping it around and really comparing all those deals,

523
00:27:29,920 --> 00:27:31,720
Speaker 1: not just the price of the car that you're buying,

524
00:27:31,760 --> 00:27:33,399
Speaker 1: but make sure you get what we call in the

525
00:27:33,400 --> 00:27:37,280
Speaker 1: industry and out the door number that includes your taxes,

526
00:27:37,280 --> 00:27:40,240
Speaker 1: your tags, any fees. This is where you're gonna see

527
00:27:40,320 --> 00:27:44,280
Speaker 1: when they try and sneak that stupid thousand dollar protection

528
00:27:44,440 --> 00:27:47,280
Speaker 1: package into the deal and things like that. So you've

529
00:27:47,320 --> 00:27:49,920
Speaker 1: got to look at the true out the door numbers,

530
00:27:50,520 --> 00:27:52,840
Speaker 1: and then you're comparing more apples to apples, and then

531
00:27:52,880 --> 00:27:54,600
Speaker 1: you can play them off of each other, and whoever

532
00:27:54,640 --> 00:27:58,240
Speaker 1: brings the best deal and the best customer experience to

533
00:27:58,280 --> 00:28:00,399
Speaker 1: the table is the one you can give your business

534
00:28:00,400 --> 00:28:03,800
Speaker 1: too nice And is that a standard number? Right? Is

535
00:28:04,200 --> 00:28:06,480
Speaker 1: that sort of like on a loan origination form, like

536
00:28:06,720 --> 00:28:09,280
Speaker 1: when you're getting a mortgage where it allows you to

537
00:28:09,320 --> 00:28:13,000
Speaker 1: compare dealerships to dealerships, that that out the door number. Yeah,

538
00:28:13,040 --> 00:28:15,600
Speaker 1: it does, because that's your your total do at signing

539
00:28:16,080 --> 00:28:18,879
Speaker 1: and that's really the last the bottom number on that

540
00:28:19,000 --> 00:28:21,840
Speaker 1: quote sheet or the buyer's order. Always ask for a

541
00:28:21,920 --> 00:28:25,040
Speaker 1: buyer's order because that shows the out the door numbers

542
00:28:25,080 --> 00:28:27,520
Speaker 1: and that's the breakdown that you will see it delivery,

543
00:28:27,560 --> 00:28:30,760
Speaker 1: and it's a legal document, so that will help you compare.

544
00:28:31,000 --> 00:28:33,159
Speaker 1: Sometimes they have different things on different lines and they

545
00:28:33,200 --> 00:28:35,720
Speaker 1: call things differently, and even now I have to ask

546
00:28:36,240 --> 00:28:39,360
Speaker 1: what is this? And they have some fees that you've

547
00:28:39,400 --> 00:28:41,760
Speaker 1: never heard of before in your life. Right, Well, sometimes

548
00:28:41,760 --> 00:28:43,600
Speaker 1: they just call it different things, And especially when I'm

549
00:28:43,640 --> 00:28:46,840
Speaker 1: shopping across states, the rules are a little bit different,

550
00:28:46,880 --> 00:28:48,440
Speaker 1: and so in some states they might call it this

551
00:28:48,640 --> 00:28:51,240
Speaker 1: or call it that. So I just always always ask

552
00:28:51,280 --> 00:28:53,520
Speaker 1: and get clarification. Yeah, I just want to get that

553
00:28:53,560 --> 00:28:56,480
Speaker 1: bottom the bottom line number. What's what's the deal? As

554
00:28:56,520 --> 00:28:58,600
Speaker 1: far as with dealerships and like maybe buying a car

555
00:28:58,640 --> 00:29:00,320
Speaker 1: at the end of the month or versus like at

556
00:29:00,320 --> 00:29:01,920
Speaker 1: the end of the year, is there any advantage to

557
00:29:02,600 --> 00:29:05,320
Speaker 1: you know, when you would buy a vehicle, there can be.

558
00:29:06,320 --> 00:29:09,360
Speaker 1: Dealers obviously have quotas that they need to meet both

559
00:29:09,360 --> 00:29:11,760
Speaker 1: on the new and use side. On the new side,

560
00:29:11,760 --> 00:29:14,920
Speaker 1: it's a little bit more important because the number of

561
00:29:14,960 --> 00:29:19,720
Speaker 1: cars that they sell that month determines how many cars

562
00:29:19,760 --> 00:29:23,600
Speaker 1: they get their allocations for future months, as well as

563
00:29:23,640 --> 00:29:28,480
Speaker 1: things like marketing dollars from the manufacturer. The dealership is

564
00:29:28,520 --> 00:29:32,880
Speaker 1: a franchise of that manufacturer, and that franchise or franchise

565
00:29:32,920 --> 00:29:35,600
Speaker 1: the relationship has a lot of things going on in

566
00:29:35,600 --> 00:29:38,640
Speaker 1: the background, money going back and forth. So the dealers

567
00:29:38,720 --> 00:29:41,080
Speaker 1: definitely want to make their quotas by the end of

568
00:29:41,120 --> 00:29:43,120
Speaker 1: the month, make those sales goals so that they can

569
00:29:43,160 --> 00:29:47,360
Speaker 1: get those incentives from the manufacturer. And that's why they

570
00:29:47,560 --> 00:29:50,800
Speaker 1: will even sometimes take a loss on a deal because

571
00:29:50,840 --> 00:29:52,440
Speaker 1: they're looking at the bigger picture and they want that

572
00:29:52,440 --> 00:29:56,840
Speaker 1: bigger numbers. So you can work with that pressure. Just

573
00:29:57,000 --> 00:29:59,280
Speaker 1: don't wait until the very last minute. One of my

574
00:30:00,040 --> 00:30:03,120
Speaker 1: rules for car buying is that it is a process,

575
00:30:03,600 --> 00:30:05,680
Speaker 1: not an event. So if you wait till the last

576
00:30:05,800 --> 00:30:08,880
Speaker 1: day to start, then you're probably gonna have to settle

577
00:30:08,880 --> 00:30:10,600
Speaker 1: for a car you didn't want. You're going to be

578
00:30:10,640 --> 00:30:12,200
Speaker 1: there all day and you may or may not have

579
00:30:12,240 --> 00:30:14,560
Speaker 1: gotten the best deal because you didn't give yourself time

580
00:30:14,840 --> 00:30:16,960
Speaker 1: to do the homework and shop around. But at the

581
00:30:17,040 --> 00:30:18,320
Speaker 1: end of the month and sometimes at the end of

582
00:30:18,360 --> 00:30:20,560
Speaker 1: the year, you can get some really good deals. Just

583
00:30:20,600 --> 00:30:23,880
Speaker 1: also be aware that the car that you want they

584
00:30:23,880 --> 00:30:25,560
Speaker 1: may have sold out of them. Always be aware of

585
00:30:25,600 --> 00:30:29,000
Speaker 1: the inventory situation, especially if you're looking at the model

586
00:30:29,040 --> 00:30:32,880
Speaker 1: you're change over. They stop production on the old models

587
00:30:32,920 --> 00:30:35,360
Speaker 1: and start ramping up production on the next year's models,

588
00:30:35,440 --> 00:30:39,040
Speaker 1: and there's usually this kind of gray area in between

589
00:30:39,720 --> 00:30:42,800
Speaker 1: where sometimes they run out of inventory and now there's

590
00:30:42,840 --> 00:30:44,600
Speaker 1: nothing to buy until the new ones come out and

591
00:30:44,640 --> 00:30:47,560
Speaker 1: you miss the good deals. Gotcha. I want to know

592
00:30:47,600 --> 00:30:51,160
Speaker 1: your take two lean on electric vehicles where obviously we're

593
00:30:51,200 --> 00:30:53,400
Speaker 1: seeing a lot of manufacturers shifting a lot of their

594
00:30:53,440 --> 00:30:57,320
Speaker 1: production or all of their production towards electric vehicles. So yeah,

595
00:30:57,320 --> 00:30:59,080
Speaker 1: what's your opinion do you think more people should be

596
00:30:59,120 --> 00:31:03,360
Speaker 1: considering and EV these days? And in your in your opinion,

597
00:31:03,400 --> 00:31:05,080
Speaker 1: is it more of a gamble even to buy a

598
00:31:05,080 --> 00:31:08,240
Speaker 1: new gas vehicle right now as evs are kind of

599
00:31:08,400 --> 00:31:11,720
Speaker 1: starting to become a major threat. I don't think it's

600
00:31:11,720 --> 00:31:14,560
Speaker 1: a problem buying a gas vehicle now. We are still

601
00:31:14,600 --> 00:31:19,240
Speaker 1: a number of years away from Number one, the technology

602
00:31:19,240 --> 00:31:23,080
Speaker 1: in the e V vehicles to make them reliable, to

603
00:31:23,680 --> 00:31:29,160
Speaker 1: really maximize that driving range, and also the infrastructure to

604
00:31:29,360 --> 00:31:33,440
Speaker 1: support them. If you live someplace like Los Angeles, you

605
00:31:33,440 --> 00:31:36,480
Speaker 1: can plug in your car pretty much at any Starbucks.

606
00:31:36,480 --> 00:31:39,520
Speaker 1: They have a great infrastructure for that, so looking at

607
00:31:39,560 --> 00:31:43,280
Speaker 1: an electric vehicle makes a little more sense out there.

608
00:31:44,000 --> 00:31:47,320
Speaker 1: Keep in mind, the vast majority of electric vehicles out

609
00:31:47,360 --> 00:31:51,720
Speaker 1: there are still much more expensive than their gas powered

610
00:31:51,800 --> 00:31:56,000
Speaker 1: or even hybrid counterparts. The technology is still new, and

611
00:31:56,080 --> 00:31:59,719
Speaker 1: believe me, they are still working out the kinks. So

612
00:32:00,000 --> 00:32:03,000
Speaker 1: if you do choose to buy an electric vehicle now,

613
00:32:03,480 --> 00:32:05,120
Speaker 1: be aware that you're going to be a little on

614
00:32:05,160 --> 00:32:08,560
Speaker 1: that bleeding edge of that technology and expect to potentially

615
00:32:08,680 --> 00:32:11,280
Speaker 1: spend some time sitting in the dealership while they figure

616
00:32:11,320 --> 00:32:13,000
Speaker 1: out what's wrong with it and how to fix it.

617
00:32:14,360 --> 00:32:15,960
Speaker 1: If you live someplace, you know, like you know, we're

618
00:32:15,960 --> 00:32:17,720
Speaker 1: in the South, you guys are what in Atlanta? I'm

619
00:32:17,720 --> 00:32:21,440
Speaker 1: in Charlotte. We don't have that infrastructure yet. We have

620
00:32:21,480 --> 00:32:25,280
Speaker 1: a handful of stations where you can plug your car in.

621
00:32:25,760 --> 00:32:29,720
Speaker 1: I think we have one Whole Foods here in town. Literally,

622
00:32:29,720 --> 00:32:32,440
Speaker 1: I think we have one. Maybe there's two now, but

623
00:32:33,120 --> 00:32:36,600
Speaker 1: it's we're still so far behind the times here that

624
00:32:36,720 --> 00:32:41,120
Speaker 1: for most people in electric car is not necessarily the

625
00:32:41,160 --> 00:32:45,800
Speaker 1: most practical thing to support their lifestyle. So yeah, I

626
00:32:45,880 --> 00:32:47,240
Speaker 1: really have to look at that. If you're gonna be

627
00:32:47,280 --> 00:32:50,400
Speaker 1: doing a lot of long road trips. We don't have

628
00:32:50,640 --> 00:32:54,280
Speaker 1: the infrastructure across the country on our freeway systems like

629
00:32:54,320 --> 00:32:57,080
Speaker 1: we do gas stations, So the last thing you want

630
00:32:57,080 --> 00:32:59,200
Speaker 1: to do is be heading over the river and through

631
00:32:59,240 --> 00:33:01,240
Speaker 1: the woods to Grahama there's house for the holidays, and

632
00:33:01,240 --> 00:33:07,160
Speaker 1: you run out of electricity. So if that happens, right,

633
00:33:07,200 --> 00:33:13,480
Speaker 1: But even they can't they can't recharge your electric car, right,

634
00:33:13,480 --> 00:33:17,000
Speaker 1: that's a completely different ballgame. So depending on where you

635
00:33:17,040 --> 00:33:20,560
Speaker 1: live and what your lifestyle looks like. If you just

636
00:33:20,680 --> 00:33:23,320
Speaker 1: tool around and have a fairly short commute and you're

637
00:33:23,400 --> 00:33:25,520
Speaker 1: living in a very urban environment, it can be a

638
00:33:25,560 --> 00:33:29,000
Speaker 1: good idea. Just if you're doing it to save money,

639
00:33:29,160 --> 00:33:32,080
Speaker 1: then really look at the business case between what's the

640
00:33:32,160 --> 00:33:35,720
Speaker 1: initial costs of that electric car versus how much am

641
00:33:35,720 --> 00:33:40,160
Speaker 1: I really saving on gas? That business case is usually

642
00:33:40,200 --> 00:33:42,120
Speaker 1: not there. But if it's something like, hey, I want

643
00:33:42,160 --> 00:33:45,280
Speaker 1: an electric car, I'm looking towards the future, then then

644
00:33:45,280 --> 00:33:47,479
Speaker 1: that might be something to consider. I tell my clients

645
00:33:47,480 --> 00:33:49,680
Speaker 1: in the Southeast, and we're not quite there yet, guys.

646
00:33:49,920 --> 00:33:51,880
Speaker 1: I even recently just talked to a client that I

647
00:33:51,920 --> 00:33:54,280
Speaker 1: have out in Los Angeles out of it because it's

648
00:33:54,320 --> 00:33:56,720
Speaker 1: just not the right decision for her. Right now, but

649
00:33:57,000 --> 00:33:59,200
Speaker 1: probably in three to five years it might be the

650
00:33:59,280 --> 00:34:02,600
Speaker 1: right decision for Yeah. Not only that, the technology will

651
00:34:02,600 --> 00:34:04,320
Speaker 1: have gotten better too, and I'm sure we're gonna see

652
00:34:04,400 --> 00:34:08,880
Speaker 1: ranges continue to continue to climb all those batteries. So Leanna,

653
00:34:08,880 --> 00:34:12,839
Speaker 1: we're gonna talk more about buying cars, specifically use cars, uh,

654
00:34:12,840 --> 00:34:16,640
Speaker 1: and the potential pitfalls of of leasing a vehicle. We're

655
00:34:16,640 --> 00:34:27,480
Speaker 1: gonna get to all that right after the break. All right,

656
00:34:27,480 --> 00:34:30,200
Speaker 1: we're back to the break. We're talking about car stuff

657
00:34:30,280 --> 00:34:33,279
Speaker 1: with the car chick Lean Shattuck Lean. I want to

658
00:34:33,280 --> 00:34:37,120
Speaker 1: ask you about leasing because as personal finance nerds over here,

659
00:34:37,680 --> 00:34:40,000
Speaker 1: when someone asks us about leasing a car, it kind

660
00:34:40,000 --> 00:34:42,400
Speaker 1: of makes us shutter a little bit. The the expenses

661
00:34:42,440 --> 00:34:45,080
Speaker 1: can be great, and there are some pitfalls when to

662
00:34:45,120 --> 00:34:47,839
Speaker 1: consider when you're considering leasing too. So what do you

663
00:34:47,880 --> 00:34:51,560
Speaker 1: suggest to folks who are thinking about leasing a car

664
00:34:51,680 --> 00:34:56,480
Speaker 1: as opposed to buying one. Leasing is a lifestyle choice.

665
00:34:57,000 --> 00:34:59,799
Speaker 1: It's it's not a financial strategy for buying a car.

666
00:35:00,320 --> 00:35:04,080
Speaker 1: It really is for people who like to have the

667
00:35:04,200 --> 00:35:07,560
Speaker 1: latest and greatest thing every few years. They don't like

668
00:35:07,640 --> 00:35:11,719
Speaker 1: dealing with the long term maintenance costs, so it's something

669
00:35:11,760 --> 00:35:13,719
Speaker 1: that they have to make the personal choice in their

670
00:35:13,760 --> 00:35:18,120
Speaker 1: own overall financial plan. And I always tell people I

671
00:35:18,160 --> 00:35:20,279
Speaker 1: am not a financial planner. I do not play one

672
00:35:20,320 --> 00:35:24,040
Speaker 1: on TV. And yes, all of the financial gurus like

673
00:35:24,120 --> 00:35:26,640
Speaker 1: you guys will say, you know, long term, it's not

674
00:35:26,760 --> 00:35:31,440
Speaker 1: a smart financial strategy. But for me, for people this

675
00:35:31,520 --> 00:35:33,120
Speaker 1: is just what they love to have a new car

676
00:35:33,200 --> 00:35:35,480
Speaker 1: every few years, and it's something that they plan for

677
00:35:35,560 --> 00:35:38,279
Speaker 1: in their finances. I have no problem with it so

678
00:35:38,320 --> 00:35:42,879
Speaker 1: long as they are not driving a bazillion miles year.

679
00:35:42,920 --> 00:35:45,880
Speaker 1: And that's where most people get into trouble with leasing.

680
00:35:45,920 --> 00:35:50,279
Speaker 1: The average commute and an annual mileage for people is

681
00:35:50,320 --> 00:35:53,440
Speaker 1: really about fifteen thousand miles year, not the ten to

682
00:35:53,520 --> 00:35:57,440
Speaker 1: twelve that it used to be. And so I quiz

683
00:35:57,560 --> 00:36:02,719
Speaker 1: my clients very very detailed level of quizzing. So how

684
00:36:02,880 --> 00:36:04,719
Speaker 1: you really have to know how many miles a year

685
00:36:04,719 --> 00:36:06,560
Speaker 1: do you drive? You think that's going to change? And

686
00:36:06,600 --> 00:36:09,200
Speaker 1: obviously the pandemic has thrown that out because I don't

687
00:36:09,200 --> 00:36:11,000
Speaker 1: know about you guys, but I've gotten about three months

688
00:36:11,000 --> 00:36:16,160
Speaker 1: to the gallon right now. It just as a lifestyle,

689
00:36:16,200 --> 00:36:18,840
Speaker 1: it's not it shouldn't be a financial strategy if you're leasing,

690
00:36:18,880 --> 00:36:21,080
Speaker 1: so that you could afford this car. You're looking at

691
00:36:21,120 --> 00:36:24,479
Speaker 1: too much car, You're just asking for trouble. It's gonna

692
00:36:24,480 --> 00:36:27,480
Speaker 1: be interesting going forward because now that more and more

693
00:36:27,480 --> 00:36:29,680
Speaker 1: people are working from home, and I think a lot

694
00:36:29,800 --> 00:36:33,720
Speaker 1: of industries and businesses are going to continue this virtual

695
00:36:33,800 --> 00:36:36,160
Speaker 1: or part time virtual model because they realized they can

696
00:36:36,160 --> 00:36:38,520
Speaker 1: save money on their office expenses by letting people work

697
00:36:38,520 --> 00:36:41,240
Speaker 1: from home. I wonder if our annual mileage will drop

698
00:36:41,239 --> 00:36:44,080
Speaker 1: in many cases and that will make leasing more attractive

699
00:36:44,120 --> 00:36:46,759
Speaker 1: to a larger portion of the population that you should

700
00:36:46,840 --> 00:36:48,359
Speaker 1: drive too much. But now they're like, hey, I work

701
00:36:48,400 --> 00:36:50,600
Speaker 1: from home three days a week, maybe I can lease

702
00:36:50,680 --> 00:36:53,080
Speaker 1: this nicer car. Yeah. I love what you said there

703
00:36:53,080 --> 00:36:55,839
Speaker 1: about it being a lifestyle decision, right, because yeah, it's

704
00:36:55,840 --> 00:36:58,400
Speaker 1: never gonna probably make sense from a financial standpoint. But

705
00:36:58,560 --> 00:37:00,520
Speaker 1: there's a lot of things that we do that we

706
00:37:00,560 --> 00:37:02,960
Speaker 1: do because we really enjoy them and to us, you know,

707
00:37:03,000 --> 00:37:04,960
Speaker 1: that's why again we call it our craft beer equivalent.

708
00:37:04,960 --> 00:37:07,560
Speaker 1: But if cars, if if having the latest and greatest

709
00:37:07,680 --> 00:37:11,480
Speaker 1: car is your craft beer equivalent, then does it financially

710
00:37:11,520 --> 00:37:13,680
Speaker 1: make a lot of sense? No? But you know what,

711
00:37:13,800 --> 00:37:17,120
Speaker 1: neither does a nice beer Because water is virtually free

712
00:37:17,320 --> 00:37:21,160
Speaker 1: and it hydrates me almost just as well. And calories,

713
00:37:21,320 --> 00:37:24,400
Speaker 1: that's your calories, but it doesn't have the delicious flavor

714
00:37:25,280 --> 00:37:28,759
Speaker 1: to the company. But yeah, let's let's talk more a

715
00:37:28,760 --> 00:37:31,839
Speaker 1: bit about buying used cars. What what are your best

716
00:37:31,880 --> 00:37:34,839
Speaker 1: tips for for folks out there to protect themselves from

717
00:37:34,840 --> 00:37:38,160
Speaker 1: buying a car you know that have a ton of problems,

718
00:37:39,200 --> 00:37:43,560
Speaker 1: get a pre purchase inspection by a qualified mechanic. I

719
00:37:43,640 --> 00:37:47,720
Speaker 1: can't tell you how often and how loudly I preached

720
00:37:47,719 --> 00:37:51,600
Speaker 1: this back when my husband was still working as a mechanic.

721
00:37:51,840 --> 00:37:54,560
Speaker 1: We would just smack our heads into the wall with

722
00:37:54,600 --> 00:37:56,320
Speaker 1: a number of people that would come into have a

723
00:37:56,480 --> 00:38:00,480
Speaker 1: used car that they had just bought, inspected and lo

724
00:38:00,640 --> 00:38:04,720
Speaker 1: and behold it was a pos that needed six thousand

725
00:38:04,719 --> 00:38:07,040
Speaker 1: dollars worth of repairs just to make it safe to

726
00:38:07,120 --> 00:38:09,399
Speaker 1: drive off the parking lot. And they thought they got

727
00:38:09,400 --> 00:38:12,840
Speaker 1: a deal, but they didn't. Well, people just don't realize.

728
00:38:12,880 --> 00:38:15,920
Speaker 1: And now, one of the challenges with some of the

729
00:38:16,000 --> 00:38:18,840
Speaker 1: changes we're seeing on the used car side over the

730
00:38:18,960 --> 00:38:21,480
Speaker 1: last few years, I'm sure you guys have seen the

731
00:38:21,560 --> 00:38:27,120
Speaker 1: number of online only car dealerships that are cropping up

732
00:38:27,239 --> 00:38:29,440
Speaker 1: where you just go online and you pick out the

733
00:38:29,480 --> 00:38:33,160
Speaker 1: car and you do all the paperwork online and then

734
00:38:33,160 --> 00:38:35,799
Speaker 1: the car shows up at your doorstep and you have

735
00:38:36,000 --> 00:38:38,719
Speaker 1: never seen it, you have not touched it, you have

736
00:38:38,800 --> 00:38:42,719
Speaker 1: not driven it, and you can't. You have to buy

737
00:38:42,760 --> 00:38:45,480
Speaker 1: it first, and then you're allowed to test drive it,

738
00:38:45,520 --> 00:38:49,160
Speaker 1: which is just so backwards to me. I understand the

739
00:38:49,200 --> 00:38:52,719
Speaker 1: convenience of it, and I commend those companies for their

740
00:38:52,760 --> 00:38:55,560
Speaker 1: innovative business model, but what at least they have the

741
00:38:55,600 --> 00:38:59,640
Speaker 1: excellent return policy right they do that? That is that

742
00:38:59,760 --> 00:39:02,319
Speaker 1: is a big plus factor. It does kind of give

743
00:39:02,320 --> 00:39:04,719
Speaker 1: you the chance to do an extended test drive. It

744
00:39:04,800 --> 00:39:07,680
Speaker 1: does keep in mind that window is only about five

745
00:39:07,719 --> 00:39:11,480
Speaker 1: to seven dates. And so what I suggested people if

746
00:39:11,520 --> 00:39:14,120
Speaker 1: they are going to look at going with one of

747
00:39:14,120 --> 00:39:17,279
Speaker 1: those companies, they need to as soon as they know

748
00:39:17,480 --> 00:39:21,080
Speaker 1: when the vehicle is going to be delivered, set up

749
00:39:21,120 --> 00:39:23,400
Speaker 1: that prepurchase inspection or in this case it is a

750
00:39:23,440 --> 00:39:27,080
Speaker 1: post purchase inspection. But make that appointment with your mechanic

751
00:39:27,480 --> 00:39:30,719
Speaker 1: to get it inspected right away before you get too

752
00:39:30,760 --> 00:39:33,440
Speaker 1: far into that window and you run out of time.

753
00:39:34,480 --> 00:39:36,400
Speaker 1: It's just something that requires a little bit more planning,

754
00:39:36,400 --> 00:39:39,680
Speaker 1: a little bit more discipline. And of course these companies

755
00:39:39,680 --> 00:39:43,160
Speaker 1: are relying on the fact that probably nine of the

756
00:39:43,200 --> 00:39:45,120
Speaker 1: people that buy their cars are not going to be

757
00:39:45,120 --> 00:39:48,040
Speaker 1: disciplined enough to do that, and therefore we'll not return

758
00:39:48,080 --> 00:39:50,320
Speaker 1: the cars. Yeah, that's I think that's totally true. I

759
00:39:50,360 --> 00:39:52,520
Speaker 1: think that's it that you know, they can say. And

760
00:39:52,520 --> 00:39:54,399
Speaker 1: and the thing is too, like those periods of time,

761
00:39:54,480 --> 00:39:57,160
Speaker 1: like those return windows are getting longer and longer. But

762
00:39:57,239 --> 00:39:59,720
Speaker 1: I think they're essentially counting on the fact that folks

763
00:40:00,040 --> 00:40:02,359
Speaker 1: won't go through the hassle over turning it. They're kind

764
00:40:02,360 --> 00:40:04,520
Speaker 1: of turning a blind eye to maybe a problem that

765
00:40:04,560 --> 00:40:06,600
Speaker 1: they think might be there because they just don't want

766
00:40:06,600 --> 00:40:09,960
Speaker 1: it to be so they pretend it's not there. But

767
00:40:10,120 --> 00:40:12,000
Speaker 1: it kind of makes me think of just like the mattresses,

768
00:40:12,040 --> 00:40:15,720
Speaker 1: all these online mattress retailers and some of these companies.

769
00:40:15,760 --> 00:40:18,520
Speaker 1: You can return your mattress after a year, but like

770
00:40:18,560 --> 00:40:21,680
Speaker 1: here's the thing, who's going to actually say, Okay, yeah,

771
00:40:21,719 --> 00:40:23,320
Speaker 1: you know what, this mattress isn't really working out. It

772
00:40:23,320 --> 00:40:25,200
Speaker 1: actually makes my back hurt. Like after a year, you're

773
00:40:25,239 --> 00:40:27,759
Speaker 1: kind of committed to it, and uh, it's like there's

774
00:40:27,760 --> 00:40:30,160
Speaker 1: there's a mental hurdle to sending it back. And I

775
00:40:30,200 --> 00:40:31,959
Speaker 1: think the same thing could be true when it comes

776
00:40:31,960 --> 00:40:34,799
Speaker 1: to these like Carbonna. Like in certain instances, we feel

777
00:40:34,840 --> 00:40:37,040
Speaker 1: that carbon It could be a good option for folks,

778
00:40:37,080 --> 00:40:40,600
Speaker 1: but that's only if you actually are willing to send

779
00:40:40,640 --> 00:40:43,120
Speaker 1: it back or have them make a repair. That's actually

780
00:40:43,160 --> 00:40:45,200
Speaker 1: something that I was able to do is get Carbonna

781
00:40:45,320 --> 00:40:48,279
Speaker 1: to pay for the timing belt to be repaired and

782
00:40:48,280 --> 00:40:50,680
Speaker 1: replaced on our van. But yeah, I think a lot

783
00:40:50,719 --> 00:40:52,279
Speaker 1: of folks may not be willing to do that. That

784
00:40:52,360 --> 00:40:55,360
Speaker 1: was and that was a six repair that Matt, Yeah

785
00:40:55,640 --> 00:40:57,799
Speaker 1: nine hunter. Whatever was that that Matt was able to

786
00:40:57,840 --> 00:41:00,440
Speaker 1: get Carbonna to pay for because he did have a

787
00:41:00,440 --> 00:41:03,080
Speaker 1: mechanic check it out. And that is like number one

788
00:41:03,120 --> 00:41:06,440
Speaker 1: step right to make sure that you're buying a decent car, uh,

789
00:41:06,560 --> 00:41:08,920
Speaker 1: not a car with a lot of problems. Yeah, definitely.

790
00:41:09,200 --> 00:41:12,160
Speaker 1: And if you're shopping for a used car, one of

791
00:41:12,160 --> 00:41:14,480
Speaker 1: the things that often you have to do to find

792
00:41:14,520 --> 00:41:17,160
Speaker 1: a good one is find a car outside your geography.

793
00:41:17,360 --> 00:41:21,799
Speaker 1: So places like auto Trader, cars dot com, those conglomerate websites,

794
00:41:21,840 --> 00:41:25,239
Speaker 1: those portal sites, they're great for finding what you're looking for.

795
00:41:25,760 --> 00:41:28,520
Speaker 1: And if you find something that is two or three

796
00:41:28,560 --> 00:41:32,160
Speaker 1: hours away but looks like it would be perfect, there

797
00:41:32,200 --> 00:41:35,560
Speaker 1: are companies that you can hire that will do a

798
00:41:35,600 --> 00:41:38,920
Speaker 1: prepurchase inspection for you so you don't have to be there.

799
00:41:38,960 --> 00:41:41,000
Speaker 1: I work with the Lemon Squad. I've had a great

800
00:41:41,040 --> 00:41:44,840
Speaker 1: relationship with them since they started, and I can send

801
00:41:44,920 --> 00:41:48,319
Speaker 1: them to anywhere in the country and I have used

802
00:41:48,320 --> 00:41:51,080
Speaker 1: them from New York to California, and they send out

803
00:41:51,600 --> 00:41:55,600
Speaker 1: a certified mechanic. They have a very detailed process. Then

804
00:41:55,640 --> 00:41:59,200
Speaker 1: they post a report and they literally send me over

805
00:41:59,239 --> 00:42:02,160
Speaker 1: a hundred pictures and they're very, very detailed pictures. Some

806
00:42:02,280 --> 00:42:03,960
Speaker 1: of them I have to look at and I'm like,

807
00:42:04,440 --> 00:42:08,040
Speaker 1: what the heck is that? That's the backside of the

808
00:42:08,080 --> 00:42:11,719
Speaker 1: exhaust manifold. Well, that's really cool. Okay, there's no rust

809
00:42:11,760 --> 00:42:14,520
Speaker 1: on it. Excellent. You might have to know what you're

810
00:42:14,560 --> 00:42:18,000
Speaker 1: looking at. But I have used them very successfully and

811
00:42:18,040 --> 00:42:20,040
Speaker 1: it allows me to shop for clients all over the

812
00:42:20,080 --> 00:42:23,719
Speaker 1: country and it really helps reduce the risk. So I

813
00:42:23,920 --> 00:42:27,200
Speaker 1: I highly recommend taking advantage of companies like that. If

814
00:42:27,239 --> 00:42:29,239
Speaker 1: you're looking at a used car that's not in your

815
00:42:29,239 --> 00:42:31,359
Speaker 1: local area that you can physically pick up and take

816
00:42:31,400 --> 00:42:34,320
Speaker 1: to your mechanic and so you missoned the Lemon Squad.

817
00:42:34,360 --> 00:42:37,080
Speaker 1: Is that a company that just typical consumers can use

818
00:42:37,080 --> 00:42:39,960
Speaker 1: as well. Yeah. Absolutely, lemon squad dot com. I absolutely

819
00:42:40,000 --> 00:42:43,480
Speaker 1: love them and best branding ever, right, yeah, right, you

820
00:42:43,480 --> 00:42:46,640
Speaker 1: want to avoid the Lemon So he speaking of risky

821
00:42:46,719 --> 00:42:49,600
Speaker 1: ways to purchase a car. Maybe we've got some friends,

822
00:42:49,840 --> 00:42:51,960
Speaker 1: I know, Matt, what We've got one friend in particular

823
00:42:52,320 --> 00:42:55,319
Speaker 1: who likes to buy his cars at auctioned auctions, and

824
00:42:55,360 --> 00:42:57,479
Speaker 1: it's it seems like a great way to potentially save

825
00:42:57,680 --> 00:43:00,000
Speaker 1: some money. But there's got to be some downsides there, right,

826
00:43:00,080 --> 00:43:02,839
Speaker 1: because you you don't really have the chance to get

827
00:43:02,880 --> 00:43:06,960
Speaker 1: that prepurchase inspection if you're buying in an auction. That's correct,

828
00:43:07,160 --> 00:43:09,879
Speaker 1: and the term buying at auction can mean a few

829
00:43:09,880 --> 00:43:12,879
Speaker 1: different things because there's a lot of different types of auctions.

830
00:43:13,320 --> 00:43:16,040
Speaker 1: There are the majority of auctions out there are dealer auctions,

831
00:43:16,040 --> 00:43:17,920
Speaker 1: and you have to have a dealer's license to be

832
00:43:18,000 --> 00:43:20,080
Speaker 1: able to go there and to buy cars through there.

833
00:43:20,120 --> 00:43:23,400
Speaker 1: It's what all the dealerships across the country use. And

834
00:43:23,440 --> 00:43:26,160
Speaker 1: in the past I have worked with dealers because I

835
00:43:26,200 --> 00:43:28,400
Speaker 1: don't have a dealer's license. I am what's considered a

836
00:43:28,400 --> 00:43:32,480
Speaker 1: buyer's agent, but I have great relationships and there may

837
00:43:32,520 --> 00:43:35,719
Speaker 1: be two dealers in the entire United States that I

838
00:43:35,760 --> 00:43:37,839
Speaker 1: actually trust to go look at cars at auction for

839
00:43:37,840 --> 00:43:41,040
Speaker 1: me because there's picky as I am. But we used

840
00:43:41,080 --> 00:43:43,839
Speaker 1: to do that back in the day. But really since

841
00:43:43,880 --> 00:43:47,759
Speaker 1: two thousand nine when the market really shifted, we used

842
00:43:47,800 --> 00:43:52,160
Speaker 1: to see ten thousand cars go through a single day

843
00:43:52,320 --> 00:43:54,160
Speaker 1: at an auction like the one in Atlanta, are the

844
00:43:54,160 --> 00:43:56,640
Speaker 1: ones in Florida, and we had a lot of great

845
00:43:56,680 --> 00:43:59,800
Speaker 1: choices for cars, especially looking at the the off lease cars.

846
00:44:00,719 --> 00:44:03,240
Speaker 1: Since the used car market change, now you might see

847
00:44:03,280 --> 00:44:05,640
Speaker 1: two to three thousand go through and half of them

848
00:44:05,640 --> 00:44:09,799
Speaker 1: are total junk. So I have not The last car

849
00:44:09,960 --> 00:44:12,840
Speaker 1: that I bought at auction for a client was actually

850
00:44:12,840 --> 00:44:16,120
Speaker 1: a used sprinter van because we just couldn't find one retail.

851
00:44:16,320 --> 00:44:20,279
Speaker 1: And I will never ever do that again. That was

852
00:44:20,400 --> 00:44:24,279
Speaker 1: not fun um and so the average person can't go

853
00:44:24,320 --> 00:44:26,120
Speaker 1: to those now. If you've got a buddy who has

854
00:44:26,120 --> 00:44:29,400
Speaker 1: a dealer's license and there are some smaller dealers that

855
00:44:29,480 --> 00:44:31,960
Speaker 1: this is how they operate, they just I think that's

856
00:44:31,960 --> 00:44:34,440
Speaker 1: what he does. He goes through a small dealership and

857
00:44:34,520 --> 00:44:37,160
Speaker 1: they basically act as act as like a broker, right

858
00:44:37,400 --> 00:44:39,239
Speaker 1: and they are they are brokers. And you know, if

859
00:44:39,239 --> 00:44:41,520
Speaker 1: you've got a good relationship. Depending on how picky they are,

860
00:44:42,400 --> 00:44:44,960
Speaker 1: that can be good. I haven't been buying at auction

861
00:44:44,960 --> 00:44:48,480
Speaker 1: because the good stuff doesn't end up there. Here's how

862
00:44:48,560 --> 00:44:50,440
Speaker 1: they used I'll give you the inside scoop on how

863
00:44:50,440 --> 00:44:54,359
Speaker 1: the used car market works. When you trade in your car,

864
00:44:54,560 --> 00:44:56,880
Speaker 1: which remember you're selling it, you're not trading it in.

865
00:44:57,160 --> 00:45:00,919
Speaker 1: It's actual money. Negotiate that price, but the dealer that

866
00:45:01,040 --> 00:45:03,279
Speaker 1: buys it from you, they're either going to keep it

867
00:45:03,320 --> 00:45:05,440
Speaker 1: for their lot. And what I have found is if

868
00:45:05,480 --> 00:45:09,600
Speaker 1: you trade in anything remotely good, they're gonna keep it

869
00:45:09,719 --> 00:45:13,400
Speaker 1: because they need the used car inventory. So I find

870
00:45:13,560 --> 00:45:15,600
Speaker 1: most of the good stuff is not even making it

871
00:45:15,640 --> 00:45:19,520
Speaker 1: to the auction. The If you have a lease car

872
00:45:19,560 --> 00:45:22,840
Speaker 1: that you're turning in, the dealers, you know, may or

873
00:45:22,880 --> 00:45:24,839
Speaker 1: may not keep that for their lot, depending on if

874
00:45:24,880 --> 00:45:26,520
Speaker 1: they've already got a ton of them, or it's just

875
00:45:26,560 --> 00:45:28,640
Speaker 1: a car that they can't sell. Like the Toyota dealer

876
00:45:28,680 --> 00:45:30,960
Speaker 1: can't sell the newer Hondas because the Honda Gays are

877
00:45:31,000 --> 00:45:35,040
Speaker 1: next door. Then those cars end up going to internal

878
00:45:35,680 --> 00:45:40,680
Speaker 1: auctions that are run by the manufacturer's captive finance company

879
00:45:40,760 --> 00:45:44,560
Speaker 1: and the dealer. The franchise dealers get first DIBs on those.

880
00:45:45,200 --> 00:45:48,200
Speaker 1: So if none of the franchise dealers anywhere in the

881
00:45:48,320 --> 00:45:51,600
Speaker 1: United States they choose not to buy this car, then

882
00:45:51,640 --> 00:45:55,080
Speaker 1: it goes to the auction lanes that you're independent dealers

883
00:45:55,120 --> 00:45:57,640
Speaker 1: like you were talking about, your friend has can buy

884
00:45:57,760 --> 00:46:01,239
Speaker 1: at and usually car Vanna and a lot of those

885
00:46:01,280 --> 00:46:04,600
Speaker 1: big companies they have been buying up inventory like crazy

886
00:46:04,600 --> 00:46:08,400
Speaker 1: and driving the prices up. So literally, the smaller dealers

887
00:46:08,440 --> 00:46:11,200
Speaker 1: are really struggling to find good cars at auction because

888
00:46:11,239 --> 00:46:15,480
Speaker 1: they just end up getting all the leftover junk seconds,

889
00:46:15,640 --> 00:46:18,000
Speaker 1: they get sloppy seconds. Now that's not to say that

890
00:46:18,040 --> 00:46:21,200
Speaker 1: there's not a few gems that that trickle through, but

891
00:46:21,320 --> 00:46:24,400
Speaker 1: it's just a whole different game than it was, you know,

892
00:46:24,440 --> 00:46:26,760
Speaker 1: before two thousand nine and even just in the last

893
00:46:26,760 --> 00:46:28,840
Speaker 1: ten years. So that's why I don't even look at

894
00:46:28,880 --> 00:46:31,520
Speaker 1: the auctions anymore. It's just a waste of my time. Yeah,

895
00:46:31,520 --> 00:46:33,760
Speaker 1: that makes a lot of sense, you know. I mean basically,

896
00:46:33,760 --> 00:46:37,000
Speaker 1: I feel like companies like Carvonna, they identified an opportunity,

897
00:46:37,200 --> 00:46:39,440
Speaker 1: yeah at those auctions, and so it's like, hey, we

898
00:46:39,480 --> 00:46:41,920
Speaker 1: can get pretty new vehicles, make sure that they're in

899
00:46:41,960 --> 00:46:44,160
Speaker 1: pretty good shape, get them dressed up, sell them online,

900
00:46:44,160 --> 00:46:46,719
Speaker 1: So it's super convenient because you know, going through this

901
00:46:46,760 --> 00:46:50,160
Speaker 1: broker guy that our friend knows, that's not nearly as convenient.

902
00:46:50,160 --> 00:46:52,520
Speaker 1: It sounds as shady as it actually is. I think

903
00:46:52,560 --> 00:46:55,120
Speaker 1: like like it's not convenient as opposed to being able

904
00:46:55,120 --> 00:46:57,439
Speaker 1: to yeah, see lots of pictures online. So that's yeah,

905
00:46:57,480 --> 00:46:59,759
Speaker 1: that's that's true. And Leeah, this has been such a

906
00:46:59,760 --> 00:47:03,160
Speaker 1: great conversation. We really appreciate you spending the time with

907
00:47:03,239 --> 00:47:05,359
Speaker 1: us today. Where can folks learn more about you and

908
00:47:05,560 --> 00:47:08,319
Speaker 1: your podcast and what it is that you do. Absolutely,

909
00:47:08,360 --> 00:47:11,160
Speaker 1: they can go to the Car Chick. That's c h

910
00:47:11,280 --> 00:47:13,840
Speaker 1: I c K dot com and the link to the

911
00:47:13,880 --> 00:47:16,279
Speaker 1: podcast is on there. You can also go to about

912
00:47:16,360 --> 00:47:20,880
Speaker 1: directly at the Straight Shift don't forget the f dot

913
00:47:20,920 --> 00:47:23,840
Speaker 1: com and that's where all the podcasts are. We have

914
00:47:23,880 --> 00:47:26,840
Speaker 1: a YouTube channel on there as well, so lots of

915
00:47:26,840 --> 00:47:30,040
Speaker 1: fun videos. As you said, I'm just passionate about educating

916
00:47:30,080 --> 00:47:32,840
Speaker 1: people and empowering them to make these smart financial decisions

917
00:47:32,880 --> 00:47:36,040
Speaker 1: when it comes to buying, selling, and servicing their cars. Well,

918
00:47:36,080 --> 00:47:38,040
Speaker 1: that's why we wanted to have you on Lean and

919
00:47:38,040 --> 00:47:39,880
Speaker 1: this has been such a such a fun combo, So

920
00:47:39,920 --> 00:47:42,440
Speaker 1: thanks again for joining us. We really appreciate it. It's

921
00:47:42,440 --> 00:47:45,040
Speaker 1: been my pleasure. Guys, thanks for having me all right, Well, Joel,

922
00:47:45,080 --> 00:47:48,000
Speaker 1: you know, considering how much kind of crap that we

923
00:47:48,040 --> 00:47:52,040
Speaker 1: give cars because we're such huge fans of riding bikes,

924
00:47:52,440 --> 00:47:54,440
Speaker 1: it's really important to make sure that you, you know,

925
00:47:54,480 --> 00:47:56,360
Speaker 1: you get things right when it comes to purchasing a vehicle.

926
00:47:56,400 --> 00:47:57,880
Speaker 1: So I'm really glad that we were able to have

927
00:47:58,000 --> 00:48:01,080
Speaker 1: lean On talking through just the the car buying process.

928
00:48:01,239 --> 00:48:03,640
Speaker 1: I mean even too at the beginning, they're talking about maintenance,

929
00:48:04,000 --> 00:48:06,400
Speaker 1: but then of course, you know, going about buying a

930
00:48:06,560 --> 00:48:09,720
Speaker 1: used car. Uh So yeah, it was all really helpful information.

931
00:48:09,719 --> 00:48:12,120
Speaker 1: But what was your big takeaway from this episode, Buddy? Yeah,

932
00:48:12,120 --> 00:48:15,799
Speaker 1: lots of great information for sure, and just like concise

933
00:48:16,040 --> 00:48:19,720
Speaker 1: in depth like Leanne crushed it. I think the biggest

934
00:48:20,040 --> 00:48:23,320
Speaker 1: takeaway I had from this episode that I think is

935
00:48:23,360 --> 00:48:25,160
Speaker 1: gonna be helpful to a lot of people is when

936
00:48:25,320 --> 00:48:28,080
Speaker 1: Leanne was talking about when repairs are needed on your car,

937
00:48:28,440 --> 00:48:32,440
Speaker 1: she said, ask for specific quantitative info. You might even

938
00:48:32,480 --> 00:48:33,920
Speaker 1: have to do a little research. But she was like,

939
00:48:33,920 --> 00:48:35,920
Speaker 1: show me the fluid. Yeah, yeah, you might even have

940
00:48:35,920 --> 00:48:37,759
Speaker 1: to do little a little research to find out what

941
00:48:37,920 --> 00:48:41,319
Speaker 1: question you need to ask you're probably not gonna know, right, Like,

942
00:48:41,600 --> 00:48:44,239
Speaker 1: what is the life left the friction life left on

943
00:48:44,239 --> 00:48:45,960
Speaker 1: my brakepad? Like, That's not a question that would have

944
00:48:46,000 --> 00:48:48,319
Speaker 1: popped into my mind at that point in time, but

945
00:48:48,800 --> 00:48:50,839
Speaker 1: I think maybe, yeah, just doing a little digging when

946
00:48:50,840 --> 00:48:53,680
Speaker 1: a mechanic tells you what's wrong before you just like

947
00:48:54,080 --> 00:48:56,440
Speaker 1: sign off on it and drop eight d nine hundred

948
00:48:56,440 --> 00:48:59,680
Speaker 1: dollars two thousand dollars whatever it may be, and uh,

949
00:49:00,200 --> 00:49:02,279
Speaker 1: formulate two or three questions that are important to ask

950
00:49:02,320 --> 00:49:05,040
Speaker 1: and then get that second opinion, you know, if you

951
00:49:05,040 --> 00:49:08,399
Speaker 1: feel like you're not being steered straight. But I think asking, yeah,

952
00:49:08,440 --> 00:49:11,600
Speaker 1: a couple of questions is majorly helpful. Can help you

953
00:49:11,719 --> 00:49:14,080
Speaker 1: get to the root of whether your car does have

954
00:49:14,160 --> 00:49:16,560
Speaker 1: this issue or whether it's something that maybe can wait

955
00:49:16,680 --> 00:49:19,480
Speaker 1: even six months or a year to have to have

956
00:49:19,520 --> 00:49:23,040
Speaker 1: that work done. So yeah, I love that specific, quantitative

957
00:49:23,239 --> 00:49:25,440
Speaker 1: ask those hard questions to make sure that you're not

958
00:49:25,480 --> 00:49:28,600
Speaker 1: getting taken advantage of by by a mechanic. That was

959
00:49:28,680 --> 00:49:31,200
Speaker 1: such great advice. Not the mechanics live to take advantage

960
00:49:31,200 --> 00:49:32,960
Speaker 1: of people, by the way, you know, I'm just saying, like,

961
00:49:32,960 --> 00:49:34,800
Speaker 1: you gotta stick up for yourself and know the right questions,

962
00:49:34,880 --> 00:49:37,440
Speaker 1: and like she said, I mean, mechanics are paid by

963
00:49:37,480 --> 00:49:39,040
Speaker 1: the job, so a lot of times if they're like,

964
00:49:39,040 --> 00:49:41,200
Speaker 1: you know what, it's probably this. I don't know, Like

965
00:49:41,239 --> 00:49:44,040
Speaker 1: I'm sure there are some garages whether they're like there's

966
00:49:44,040 --> 00:49:45,360
Speaker 1: a good chance that that's what it's going to be,

967
00:49:45,360 --> 00:49:47,719
Speaker 1: and so they're just trying to move to the next job. Uh.

968
00:49:47,840 --> 00:49:49,799
Speaker 1: And but it may or may not be, you know,

969
00:49:49,840 --> 00:49:52,279
Speaker 1: in the best interest of you and your money, uh

970
00:49:52,280 --> 00:49:54,880
Speaker 1: in your vehicle as well. But yeah, that was great advice,

971
00:49:55,040 --> 00:49:58,399
Speaker 1: and mine simply, I'm gonna go with lemon squad dot com.

972
00:49:59,440 --> 00:50:03,040
Speaker 1: I really that there's a service out there that's specifically

973
00:50:03,280 --> 00:50:05,640
Speaker 1: for out of town vehicles. And so if you're trying

974
00:50:05,640 --> 00:50:08,759
Speaker 1: to find a really good deal on a specific car, uh,

975
00:50:08,760 --> 00:50:10,400
Speaker 1: and maybe you're looking out of state, you're looking in

976
00:50:10,440 --> 00:50:12,799
Speaker 1: a different city, having a service like that that can

977
00:50:12,840 --> 00:50:15,879
Speaker 1: go and check that vehicle out even before you take

978
00:50:15,920 --> 00:50:17,560
Speaker 1: the time off work or go on the weekend and

979
00:50:17,920 --> 00:50:20,399
Speaker 1: buy a plane ticket, right, I mean, I've we've got

980
00:50:20,400 --> 00:50:22,399
Speaker 1: friends who have done that before. Well they'll fly into

981
00:50:22,440 --> 00:50:24,640
Speaker 1: it to a different city one way ticket, they buy

982
00:50:24,640 --> 00:50:26,680
Speaker 1: the vehicle, and then they drive it back. But if

983
00:50:26,719 --> 00:50:29,480
Speaker 1: you're not getting it inspected ahead of that purchase, you

984
00:50:29,520 --> 00:50:32,000
Speaker 1: really might end up strained because if you're counting on

985
00:50:32,000 --> 00:50:34,040
Speaker 1: that vehicle to get you back home, I mean, there's there,

986
00:50:34,080 --> 00:50:35,960
Speaker 1: there's a lot on the line there, and we checked

987
00:50:35,960 --> 00:50:37,640
Speaker 1: it out lemon squad dot com and you can get

988
00:50:37,640 --> 00:50:39,640
Speaker 1: an inspection done on a standard vehicle for a hundred

989
00:50:39,640 --> 00:50:42,200
Speaker 1: and eighty bucks. I definitely think that that is money

990
00:50:42,280 --> 00:50:45,680
Speaker 1: well spent. Saves you time, uh and hassle, but then

991
00:50:45,719 --> 00:50:47,920
Speaker 1: potentially a lot of money as well. And you know,

992
00:50:48,040 --> 00:50:50,960
Speaker 1: Leanne said that her husband used to be a mechanic

993
00:50:51,040 --> 00:50:55,120
Speaker 1: until recently, and people would bring their car in after

994
00:50:55,320 --> 00:50:59,239
Speaker 1: the fact without a warranty or a window how's it look?

995
00:50:59,280 --> 00:51:01,439
Speaker 1: And it's like, actually needs thousands of dollars worth of work.

996
00:51:01,680 --> 00:51:03,920
Speaker 1: And that's a terrible position to be in. Pay the

997
00:51:03,960 --> 00:51:05,680
Speaker 1: pay the money up front, whether it's to a local

998
00:51:05,719 --> 00:51:09,160
Speaker 1: mechanic or someone from lemon squad dot com, to to

999
00:51:09,200 --> 00:51:11,560
Speaker 1: get that car checked out, because you're gonna save yourself

1000
00:51:11,640 --> 00:51:14,680
Speaker 1: money and headaches and just have the confidence in knowing

1001
00:51:14,680 --> 00:51:17,200
Speaker 1: that you're buying a vehicle that's been maintained well and

1002
00:51:17,280 --> 00:51:20,319
Speaker 1: not something that is a problem left over from the

1003
00:51:20,320 --> 00:51:22,480
Speaker 1: previous owner. That's right. You don't want to inherit someone

1004
00:51:22,480 --> 00:51:25,040
Speaker 1: else's problems, Joel. Let's go ahead and shift gears. Let's

1005
00:51:25,040 --> 00:51:27,360
Speaker 1: take it back to the beverage that we're drinking on

1006
00:51:27,360 --> 00:51:30,839
Speaker 1: this episode, because this is technically not a normal craft beer.

1007
00:51:31,080 --> 00:51:34,120
Speaker 1: You and I are enjoying an American I p A. However,

1008
00:51:34,239 --> 00:51:37,840
Speaker 1: this is what is called a non alcoholic near beer.

1009
00:51:38,280 --> 00:51:40,840
Speaker 1: This is uh, technically I guess uh an n a

1010
00:51:40,960 --> 00:51:44,319
Speaker 1: beer by a brewery here, and again is it even

1011
00:51:44,320 --> 00:51:47,359
Speaker 1: a brewery if it's not technically a beer? But this

1012
00:51:47,400 --> 00:51:49,799
Speaker 1: is my right side brewing here in Atlanta, and they

1013
00:51:49,840 --> 00:51:51,839
Speaker 1: send us a couple of their beers to try out

1014
00:51:51,880 --> 00:51:53,799
Speaker 1: to enjoy on the show, And so yeah, what we

1015
00:51:53,800 --> 00:51:56,239
Speaker 1: were thoughts on this are very first Na. Yeah, I

1016
00:51:56,280 --> 00:51:59,160
Speaker 1: was super glad to see that we have a local

1017
00:51:59,480 --> 00:52:02,640
Speaker 1: brewery making non alcoholic beers because there are so many

1018
00:52:02,640 --> 00:52:06,000
Speaker 1: people that do want the taste of beer without the

1019
00:52:06,040 --> 00:52:08,960
Speaker 1: alcohol that goes alongside of it. And in this I

1020
00:52:09,040 --> 00:52:11,960
Speaker 1: p A, it's it's actually it's it reminds me of

1021
00:52:12,000 --> 00:52:14,080
Speaker 1: some of the old school I PA is almost like

1022
00:52:14,080 --> 00:52:17,080
Speaker 1: a Sierra Nevada i PA or something like that, but

1023
00:52:17,640 --> 00:52:19,920
Speaker 1: it has like a little more of like a multi

1024
00:52:20,080 --> 00:52:23,680
Speaker 1: vibe presence going on. But it definitely tastes different than

1025
00:52:23,880 --> 00:52:26,160
Speaker 1: an i PA that's alcoholic, than like a five or

1026
00:52:26,239 --> 00:52:28,799
Speaker 1: six percent i p A. Yeah, this one's point five percent.

1027
00:52:28,960 --> 00:52:30,919
Speaker 1: Yeah exactly. Yeah, Yeah, but it gets you, It gets

1028
00:52:30,920 --> 00:52:32,839
Speaker 1: you some of the way there if you really do

1029
00:52:33,000 --> 00:52:35,799
Speaker 1: like the taste of beer and you miss it. But yeah,

1030
00:52:35,920 --> 00:52:39,160
Speaker 1: I think going with a non alcoholic craft beer is

1031
00:52:39,160 --> 00:52:40,799
Speaker 1: going to be a better way to go than going

1032
00:52:40,840 --> 00:52:42,839
Speaker 1: with you know, the old school ones that have been

1033
00:52:42,840 --> 00:52:44,880
Speaker 1: around for for twenty years. But yeah, I thought this

1034
00:52:44,880 --> 00:52:48,759
Speaker 1: one was a decent representation of the craft style. Absolutely. Yah.

1035
00:52:48,760 --> 00:52:51,800
Speaker 1: It's not that we're against beers quote unquote beer is

1036
00:52:51,840 --> 00:52:54,440
Speaker 1: that don't have any alcohol. It's just often times, you

1037
00:52:54,480 --> 00:52:58,760
Speaker 1: know what companies that alcohol is flavor with the different

1038
00:52:59,000 --> 00:53:01,400
Speaker 1: ingredients that they're able to brew into the beer. But

1039
00:53:01,480 --> 00:53:03,239
Speaker 1: this one I feel like was even still able to

1040
00:53:03,280 --> 00:53:05,360
Speaker 1: get a good amount of flavor in there. Honestly, what

1041
00:53:05,400 --> 00:53:06,960
Speaker 1: it reminds me of is that if you've ever been

1042
00:53:07,000 --> 00:53:08,960
Speaker 1: around a homebrewer, or like if you go to someone's

1043
00:53:08,960 --> 00:53:11,400
Speaker 1: garage or something like that in their homebrewing and you're standing,

1044
00:53:11,640 --> 00:53:14,160
Speaker 1: like I've got memories of standing over a big old

1045
00:53:14,320 --> 00:53:16,880
Speaker 1: pot sitting on top of a turkey fryer burner, you know,

1046
00:53:16,960 --> 00:53:19,760
Speaker 1: like the outdoor giant things there. Uh, and the wart

1047
00:53:19,880 --> 00:53:22,440
Speaker 1: it's called the warts. It's when they're boiling, I guess,

1048
00:53:22,480 --> 00:53:24,200
Speaker 1: like the you know, the malts and the hops and

1049
00:53:24,239 --> 00:53:27,880
Speaker 1: they're it's it's it's basically you're like cooking beer. But

1050
00:53:27,960 --> 00:53:31,200
Speaker 1: it reminds me of that smell because that aroma that

1051
00:53:31,200 --> 00:53:32,880
Speaker 1: that it puts off, it's not exactly like what you

1052
00:53:32,880 --> 00:53:34,680
Speaker 1: would get out of a beer when it's time to

1053
00:53:34,680 --> 00:53:37,319
Speaker 1: actually drink it. It's sort of like this, I don't know,

1054
00:53:37,360 --> 00:53:39,480
Speaker 1: it's it's the smell of it before you drink it,

1055
00:53:39,520 --> 00:53:41,799
Speaker 1: which is like this pleasant, earthy kind of Yeah. Yeah,

1056
00:53:41,800 --> 00:53:44,839
Speaker 1: it's really earthy. It's very like vegetably like it makes

1057
00:53:44,920 --> 00:53:47,239
Speaker 1: you think of, like, I guess, the actual ingredients that

1058
00:53:47,280 --> 00:53:49,560
Speaker 1: go into making the beer kind of makes sense. I

1059
00:53:49,600 --> 00:53:52,000
Speaker 1: guess if it hasn't I don't know, fermented, maybe this

1060
00:53:52,160 --> 00:53:54,439
Speaker 1: is just this is beer that hasn't cooked all the way,

1061
00:53:54,480 --> 00:53:56,839
Speaker 1: I guess. But all that being said, I'm I'm really

1062
00:53:56,880 --> 00:53:58,520
Speaker 1: enjoying this one. Glad that you and I got to

1063
00:53:58,640 --> 00:54:02,120
Speaker 1: enjoy this American IPA from Right Side Brewing here in Atlanta,

1064
00:54:02,360 --> 00:54:04,600
Speaker 1: and we'll actually have another one of their beers here

1065
00:54:04,640 --> 00:54:07,120
Speaker 1: on Wednesday's episode as well, no doubt. All Right, well,

1066
00:54:07,120 --> 00:54:09,480
Speaker 1: that's gonna do it for this episode. For folks that

1067
00:54:09,520 --> 00:54:11,640
Speaker 1: want the show notes including links to some of the

1068
00:54:11,719 --> 00:54:14,640
Speaker 1: sites that got mentioned in our interview with Leanne, just

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00:54:14,680 --> 00:54:16,480
Speaker 1: go to our website at how to money dot com.

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Speaker 1: That's right, and Joel, that's gonna be it for this episode, buddy.

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Speaker 1: Until next time, Best friends Out, Best Friends Out.