WEBVTT - Buying A Car the Right Way #470 0:00:00.120 --> 0:00:02.920 Welcome to How the Money. I'm Joel Matt, and today 0:00:03.000 --> 0:00:25.759 we're discussing buying a car the right way. That's right, buddy, Transportation, 0:00:25.800 --> 0:00:28.680 that's one of those big expenses. We spend a lot 0:00:28.720 --> 0:00:32.240 of money on transportation every single year, but every few years, 0:00:32.680 --> 0:00:35.639 hopefully not too much. More often than that, folks are 0:00:35.640 --> 0:00:39.479 oftentimes faced with the very large purchase of a vehicle. 0:00:39.880 --> 0:00:43.000 And we're gonna dedicate an entire episode towards buying a 0:00:43.120 --> 0:00:46.040 car the right way. Yeah, and well, I would say this, 0:00:46.120 --> 0:00:48.560 if you're buying a car every year, you're doing it wrong, okay, 0:00:48.760 --> 0:00:50.720 or definitely you should be leasing if you're doing that, 0:00:50.720 --> 0:00:52.559 And we don't really recommend leasing, but if we need 0:00:52.600 --> 0:00:55.080 a new car, everyone do that either. At least that's 0:00:55.120 --> 0:00:57.680 probably the only situation which that makes sense. We're already 0:00:57.720 --> 0:01:00.520 off to a bad start, and you can do it 0:01:00.560 --> 0:01:01.840 the wrong way. There are ways to do it the 0:01:01.840 --> 0:01:03.800 wrong way, and leasing is kind of sort of the 0:01:03.800 --> 0:01:06.000 wrong way too. Well, yeah, we'll get into all our 0:01:06.000 --> 0:01:09.120 thoughts on that in this episode. But Matt, before we 0:01:09.160 --> 0:01:10.840 get to that, I wanted to mention that there was 0:01:10.880 --> 0:01:12.960 a study that came out from U c l A. 0:01:13.400 --> 0:01:16.920 And this they basically said that there isn't a lot 0:01:16.959 --> 0:01:19.520 of learning loss if you're watching videos or listening to 0:01:19.600 --> 0:01:22.240 content at two X speed. And I thought I was 0:01:22.319 --> 0:01:24.160 gonna say that again for all of our listeners listening 0:01:24.160 --> 0:01:28.039 at two point five. Slow it down, at slow it down, 0:01:28.280 --> 0:01:31.600 and so you can understand me. So I just wanted 0:01:31.600 --> 0:01:33.759 everybody that is listening to the two X is gonna 0:01:33.760 --> 0:01:35.880 hear that, and it's gonna mess with their heads? Did 0:01:35.920 --> 0:01:39.520 I just hear? So? I'm personally the kind of person 0:01:39.600 --> 0:01:42.200 who there's a lot of podcasts I enjoy listening to, 0:01:42.680 --> 0:01:44.640 and I don't quite have enough time to fit them 0:01:44.640 --> 0:01:46.360 all in. And if I want to fit most of 0:01:46.400 --> 0:01:48.920 them in, then I do have to listen at a 0:01:48.960 --> 0:01:51.640 faster speed. And so, depending on the podcast I do listen, 0:01:51.640 --> 0:01:54.080 it somewhere between like one point seven and two X speed. 0:01:54.320 --> 0:01:56.440 And it's good to know that. Like I will say, 0:01:56.600 --> 0:01:59.000 I don't think I'm getting quite as much. I don't 0:01:59.000 --> 0:02:00.600 think I'm retaining quite as which as I would if 0:02:00.600 --> 0:02:03.040 I was to listen at one X. But also it's 0:02:03.080 --> 0:02:05.440 almost harder for me to listen to something at the 0:02:05.480 --> 0:02:07.640 normal speed these days. Shut up. I almost needed to 0:02:07.680 --> 0:02:09.160 be like at least one point two or I'm like, 0:02:09.200 --> 0:02:10.920 what's wrong with these people? It sounds like they're just 0:02:10.960 --> 0:02:13.840 talking way too exactly. Well, okay, so I want to 0:02:13.880 --> 0:02:17.480 call bs on the study because I, like you, I 0:02:17.520 --> 0:02:19.000 listened to a lot of podcasts, we listen to a 0:02:19.040 --> 0:02:21.200 lot of audio books, and I want this to be true, 0:02:21.360 --> 0:02:23.840 right Like, I want to read this study, this report 0:02:23.880 --> 0:02:26.440 and say, there you go, see like you can listen 0:02:26.440 --> 0:02:30.000 to something at two x speed and retain just as 0:02:30.080 --> 0:02:33.079 much information. But dude, come on, this is confirmation by us, 0:02:33.160 --> 0:02:35.040 right like, this is something we want to be true. 0:02:35.280 --> 0:02:38.120 And so you come across the story, it looks like 0:02:38.200 --> 0:02:41.120 it's well researched out there in U. C. L A. 0:02:41.160 --> 0:02:42.560 But if you search, like, there's a lot of other 0:02:42.560 --> 0:02:45.160 studies to that point to the fact that, oh, in fact, 0:02:45.240 --> 0:02:48.600 it does reduce your ability to retain information. But like 0:02:48.639 --> 0:02:50.840 you said, I am okay with that. I think as 0:02:50.840 --> 0:02:53.120 long as folks are able to make the decision knowing 0:02:53.360 --> 0:02:55.040 the facts, and so if I know that I'm only 0:02:55.080 --> 0:02:57.480 going to be able to retain eighty or nine percent 0:02:57.560 --> 0:02:59.960 of the information, but if that means I'm able to 0:03:00.000 --> 0:03:02.760 listen to twice as much stuff because I'm listening to 0:03:02.800 --> 0:03:05.480 it at two x speed, then that's that's a trade off, right, 0:03:05.520 --> 0:03:07.560 Like in all throughout life, we make trade offs, and 0:03:07.680 --> 0:03:09.240 this is one of those. And so if you are 0:03:09.280 --> 0:03:12.760 a high consumer of audio content, yeah, this is good 0:03:12.760 --> 0:03:15.200 news as long as you are aware of the decisions 0:03:15.200 --> 0:03:18.480 you're making. Yeah. So I think maybe the ideal range 0:03:18.480 --> 0:03:20.239 for people is somewhere between like one point five and 0:03:20.280 --> 0:03:21.799 one point seven if you can handle it, if you 0:03:21.840 --> 0:03:23.760 want to listen at that speed, and the first time 0:03:23.800 --> 0:03:26.040 you hear it, you're like, who does this? It's it 0:03:26.160 --> 0:03:29.079 sounds almost garbled. But once once you kind of get 0:03:29.120 --> 0:03:31.800 used to it, Yeah, it's yeah, it's like building a muscle, 0:03:31.880 --> 0:03:34.720 like your brain gets better at it. And I will 0:03:34.760 --> 0:03:37.360 say sometimes I'll flip something on and by default it's 0:03:37.360 --> 0:03:38.960 on at like one point five and k it's like 0:03:38.960 --> 0:03:41.800 whoa whoaa, Like this sounds like it's on warp speed. 0:03:42.120 --> 0:03:45.080 But over the years she has slowly kind of ramped 0:03:45.160 --> 0:03:48.040 up her ability to listen to something faster as well. 0:03:48.080 --> 0:03:51.000 And she's she said specifically that if I listened to 0:03:51.040 --> 0:03:53.240 it first at kind of one point two, she can 0:03:53.280 --> 0:03:55.320 then slowly ramp up because you get used to the 0:03:55.320 --> 0:03:58.160 way somebody speaks to the way they talk and the 0:03:58.200 --> 0:04:00.120 other thing too. Man, it depends on what you're listening 0:04:00.240 --> 0:04:02.760 two as well, right, Because if I'm listening to an 0:04:02.760 --> 0:04:06.360 audio book, like a narrative a story, to even two 0:04:06.400 --> 0:04:08.680 point five is not difficult for me because it it 0:04:08.720 --> 0:04:11.800 oftentimes depends on who's narrating, right. But if it's a 0:04:11.840 --> 0:04:14.560 podcast and they're really diving into like very technical things 0:04:14.560 --> 0:04:17.320 and they're talking about the economy and the jobs report 0:04:17.360 --> 0:04:20.560 and just different things like that, uh, slow that, Yeah, 0:04:20.680 --> 0:04:23.600 you slow down because there's a lot of technical information 0:04:24.120 --> 0:04:26.640 that is more difficult to you know, when you're jumping 0:04:26.680 --> 0:04:28.320 from one bit of information to the next, to the 0:04:28.320 --> 0:04:30.040 next to the next, and none of them are really linked. 0:04:30.240 --> 0:04:32.560 It's difficult, I think, to to follow along on a 0:04:32.560 --> 0:04:35.720 really rapid clip. Yeah, alright, well, just blessings on you. 0:04:35.760 --> 0:04:37.000 If you want to listen to How the Money a 0:04:37.040 --> 0:04:38.880 little bit faster than one x, that's totally cool, And 0:04:38.880 --> 0:04:40.760 a lot of the podcasting apps have made it so 0:04:40.839 --> 0:04:43.560 much easier to to actually do that. I know, Google Podcasts, 0:04:43.600 --> 0:04:45.360 it's like you can you can go one point six, 0:04:45.400 --> 0:04:47.840 one point seven, one point eighty. It literally only used 0:04:47.880 --> 0:04:50.720 to be like one x one point five x two 0:04:50.920 --> 0:04:53.480 x yeah, but now yeah, a lot of and have 0:04:53.600 --> 0:04:55.599 all of those fine adjustments that you can go in 0:04:55.600 --> 0:04:58.120 there and kind of like those beer ratings on untapped, 0:04:58.160 --> 0:04:59.960 you know, and it used to be like half a point, 0:05:00.000 --> 0:05:01.400 and now you can. I think you can dial it 0:05:01.440 --> 0:05:04.320 in pretty specifically. Although I don't really post my beers 0:05:04.360 --> 0:05:06.360 there anymore. So I tried to, but the last time 0:05:06.360 --> 0:05:07.360 I was on there, I thought it was still doing 0:05:07.440 --> 0:05:09.000 just quarter quarter of a point. I thought you can 0:05:09.040 --> 0:05:10.600 dial it in more than that. Maybe maybe I'm wrong. 0:05:10.640 --> 0:05:12.400 I really don't get on there bar Okay, So all right, 0:05:12.440 --> 0:05:14.560 but let's mention the beer that we're having on this episode. 0:05:14.560 --> 0:05:17.520 This one is called Pothole City. It's a rocky road stout. 0:05:17.520 --> 0:05:19.800 It's by Pipeworks Brewing. And we'll let you know our 0:05:19.839 --> 0:05:22.000 thoughts on this one at the end of the episode. 0:05:22.279 --> 0:05:24.400 But Matt, onto the topic in hand. Let's talk about 0:05:24.400 --> 0:05:28.640 buying a car the right way. Yeah, yeah, exactly. Any 0:05:28.800 --> 0:05:31.880 of your transportation needs, uh, And some of the most 0:05:31.920 --> 0:05:36.200 important financial decisions that we make are done infrequently. And 0:05:36.200 --> 0:05:38.080 because of that, Matt, we we feel like a little 0:05:38.120 --> 0:05:41.000 rusty every time we perform that task. Even just doing 0:05:41.000 --> 0:05:42.320 your taxes, You're like, how do I, how do I 0:05:42.360 --> 0:05:44.800 do this again? It's coming to be that time. Fortunately, 0:05:44.839 --> 0:05:46.920 their software to help you out with that, or or 0:05:46.960 --> 0:05:48.560 if you take someone that you pay, or if you 0:05:48.560 --> 0:05:50.440 take really good notes. That's what I do is I 0:05:50.520 --> 0:05:52.400 kind of keep this document that I refer back to 0:05:52.480 --> 0:05:54.400 and then I just have everything listed out step by step. 0:05:54.400 --> 0:05:56.359 There you go. Makes it super quick, see quick and easy? 0:05:56.839 --> 0:05:59.920 But yeah, so the average person buys a car one 0:06:00.160 --> 0:06:03.120 in every six years, and so that's plenty of time 0:06:03.120 --> 0:06:05.640 for most of us to completely forget how the process 0:06:05.680 --> 0:06:07.960 works by the next time we need to buy a car. 0:06:08.120 --> 0:06:10.680 It makes me think of traveling abroad these days. It's 0:06:10.720 --> 0:06:12.680 been a while for pretty much all of us. I 0:06:12.680 --> 0:06:15.159 know some folks have still been been traveling abroad, but 0:06:15.279 --> 0:06:17.480 there's the truth that there are a lot of countries 0:06:17.520 --> 0:06:21.240 that won't even allow us to visit their shores right now, 0:06:21.440 --> 0:06:22.920 and so there's a lot more questions we have when 0:06:22.920 --> 0:06:26.240 we're booking that trip. Do I need trip insurance? Is 0:06:26.320 --> 0:06:29.159 the country I want to go to even accepting visitors 0:06:29.200 --> 0:06:32.839 from the US. What sort of vaccination documentation do I need? 0:06:32.920 --> 0:06:34.760 How early do I even need to get to the airport. Again, 0:06:34.920 --> 0:06:36.599 those are the kind of questions the funnel and be 0:06:36.640 --> 0:06:38.760 like how long does it take too to go through 0:06:38.760 --> 0:06:41.400 security and stuff like that, Like I've forgotten at this point. 0:06:41.440 --> 0:06:43.440 So we all need this refresher and so that's kind 0:06:43.440 --> 0:06:46.120 of what this episode is. It's a refresher on buying 0:06:46.160 --> 0:06:48.760 a car the right way, And obviously part of that 0:06:48.839 --> 0:06:51.320 has to do with kind of what's currently happening in 0:06:51.320 --> 0:06:54.440 the car space. We've seen a lot of change, that's right. Yeah, 0:06:54.560 --> 0:06:57.000 In a similar way, the car market has experienced a 0:06:57.000 --> 0:07:00.000 lot of turmoil. So if you bought a car six 0:07:00.040 --> 0:07:02.120 years ago, the way that you go about buying a 0:07:02.120 --> 0:07:06.359 car has changed significantly. We've seen a huge shift, especially 0:07:06.360 --> 0:07:09.480 over the past eighteen months, in pricing and just different 0:07:09.520 --> 0:07:13.040 purchasing dynamics. A global pandemic led to a chip shortage, 0:07:13.160 --> 0:07:15.200 and then that chip shortage led to supply chain issues. 0:07:15.560 --> 0:07:19.160 All of the problems created a tighter car market, resulting 0:07:19.160 --> 0:07:22.640 in fewer cars on the lot and much much higher prices. 0:07:22.960 --> 0:07:25.000 Edmonds is even predicting that the average price of a 0:07:25.080 --> 0:07:27.840 used car is going to surpass thirty thousand dollars this year. 0:07:28.200 --> 0:07:31.160 And that's right. I actually said used cars the average 0:07:31.320 --> 0:07:34.200 used cars and o K, that's a lot of money 0:07:34.440 --> 0:07:38.320 for a second and uh form of transportation. And because 0:07:38.440 --> 0:07:40.200 so much is at stake here, it's crucial that you 0:07:40.240 --> 0:07:43.400 take the proper steps to make sure that you're going 0:07:43.400 --> 0:07:45.400 about things in the right way. Yeah, you don't want 0:07:45.440 --> 0:07:48.760 to buy a thirty thou do lemon, that's for sure. 0:07:49.040 --> 0:07:51.200 And so let's talk about kind of more of what's 0:07:51.280 --> 0:07:54.240 changed in recent years and how those shifts impact us 0:07:54.280 --> 0:07:56.720 as consumers. If we're in the car market, Matt, you 0:07:56.760 --> 0:07:58.480 mentioned the average price of a used car is going 0:07:58.520 --> 0:08:01.600 to hit thirty dollars, which is true. I see that 0:08:01.680 --> 0:08:04.280 happening this year. But the average price of a new 0:08:04.320 --> 0:08:07.600 car costs for dollars now, which is a heck of 0:08:07.640 --> 0:08:09.360 a lot more right. And on top of that, even 0:08:09.360 --> 0:08:11.760 fancier new cars are getting launched. For instance, like the 0:08:12.040 --> 0:08:15.120 new Jeep Grand wagoneer. It starts the starting price is 0:08:15.120 --> 0:08:17.840 almost ninety dollars, So you can get that car or 0:08:17.880 --> 0:08:20.840 that ride up into six figures. And I'm sure it's nice. 0:08:20.880 --> 0:08:24.440 It's got the perfectly quaffit interior and the fancy screen 0:08:24.560 --> 0:08:28.280 or something like that. Yeah, everything you could look. I'm 0:08:28.280 --> 0:08:31.080 sure it's lovely, But there's just so much more we 0:08:31.120 --> 0:08:34.280 have to think through as car prices expand and as 0:08:34.320 --> 0:08:37.079 fancier cars are are put out there on the market, 0:08:37.080 --> 0:08:39.400 and there's just so much at stake, Uh, so much 0:08:39.440 --> 0:08:42.040 of your money at stake when with that next car purchase. 0:08:42.320 --> 0:08:44.600 And here's what you need to think about. Two. That 0:08:44.679 --> 0:08:48.120 ninety thousand could easily become a million dollars in thirty 0:08:48.160 --> 0:08:50.280 years if you left it to grow in the stock market. 0:08:50.360 --> 0:08:53.160 So there is this reality that where you allocate your 0:08:53.200 --> 0:08:55.560 money makes a big difference in your ability to build 0:08:55.600 --> 0:08:58.360 more wealth. And if more of your money is going 0:08:58.400 --> 0:09:01.319 towards the four wheels that riding around in, it's gonna 0:09:01.400 --> 0:09:04.040 detract in a big way from your ability to build 0:09:04.080 --> 0:09:06.079 wealth the way you want. It's right, And why's it 0:09:06.120 --> 0:09:07.520 gonna be four wheels? Man? Why can it be one 0:09:07.559 --> 0:09:09.800 of those three wheeled vehicles you see driving down the 0:09:09.840 --> 0:09:13.360 ones that kind of batmobiles. Yeah, yeah, they've got like 0:09:13.400 --> 0:09:15.440 two wheels up front for steering, but there's only like 0:09:15.520 --> 0:09:17.800 one like bigger wheel in the back. I still don't 0:09:17.840 --> 0:09:20.760 understand that, Like white people get those, but they look 0:09:20.880 --> 0:09:22.680 kind of interesting. There's a couple of those that we 0:09:22.720 --> 0:09:25.400 see driving around the neighborhood. But you know, folks already 0:09:25.400 --> 0:09:27.240 know this as well. But one of the other things 0:09:27.280 --> 0:09:30.000 that we've seen change over the years is that folks 0:09:30.000 --> 0:09:32.880 have gotten way more comfortable buying a used car site 0:09:32.960 --> 0:09:35.959 unseen based on just the different pictures of the car 0:09:36.120 --> 0:09:40.439 on the internet descriptions. I'm specifically thinking about Carbona, but 0:09:40.520 --> 0:09:43.800 CarMax as well, that they both have led that charge 0:09:44.000 --> 0:09:46.160 and are the two big names in the used car 0:09:46.320 --> 0:09:49.560 buying market these days. GM they just launched car Bravo 0:09:49.760 --> 0:09:52.199 to be another competitor in the space. Uh and and 0:09:52.280 --> 0:09:55.040 they're not just selling GM vehicles as well, they're selling 0:09:55.040 --> 0:09:57.840 all types of vehicles. So generally speaking, we do like 0:09:57.920 --> 0:10:00.280 these sites. They've made it easier to shop on line 0:10:00.400 --> 0:10:03.120 for a vehicle, and most of us are looking for 0:10:03.160 --> 0:10:06.200 some more convenience in our lives. They'll often deliver it 0:10:06.200 --> 0:10:09.720 to you, right Caravanna they've got that seven day return policy, 0:10:09.880 --> 0:10:12.880 and CarMax they've got that thirty day return policy. This 0:10:12.960 --> 0:10:14.840 gives you plenty of time to take it to the 0:10:14.880 --> 0:10:17.840 mechanic and know if you'll like it. But this is 0:10:17.920 --> 0:10:20.960 another reason we're talking about this because the way just 0:10:21.000 --> 0:10:23.160 the actual mechanics of what it looks like to purchase 0:10:23.200 --> 0:10:26.160 a new vehicle has changed significantly. Yeah, five years ago, 0:10:26.400 --> 0:10:28.800 buying a car on the internet was not really a 0:10:28.800 --> 0:10:30.599 thing or we're taking a risk. Yeah, exactly. It was 0:10:30.640 --> 0:10:32.520 a new thing. Like I mean that we purchased our 0:10:32.960 --> 0:10:36.360 Honda Odyssey on CarMax like about I guess it's like 0:10:36.360 --> 0:10:37.720 four or five years ago. Yeah, that was kind of 0:10:37.720 --> 0:10:40.160 even towards the beginning. Really it was kind of like 0:10:40.160 --> 0:10:42.640 this novel idea and you and I were talking, We're like, oh, 0:10:42.800 --> 0:10:44.199 do we get to see it come down like the 0:10:44.600 --> 0:10:49.960 car vending machine, like for picturing it like two little kids, 0:10:50.040 --> 0:10:52.000 like we're gonna watch a gunball like go down the spiral. 0:10:53.040 --> 0:10:55.480 That was kind of tradition. The fame was that vending machine. 0:10:55.679 --> 0:10:58.200 And now they have one literally like down the Downtown 0:10:58.240 --> 0:11:00.720 Connector in Atlanta, and now they've built ones in other 0:11:00.760 --> 0:11:03.320 locations too as they've expanded nationwide. Always look at it. It 0:11:03.240 --> 0:11:05.480 It is cool. Yeah, but it is this new way 0:11:05.520 --> 0:11:07.520 of buying a car, and I guess not so new anymore, 0:11:07.679 --> 0:11:09.920 but but it is one of those things where it's 0:11:09.960 --> 0:11:14.280 important to note that buying online is is really helpful. 0:11:14.320 --> 0:11:15.600 I think in a lot of ways, or at least 0:11:15.600 --> 0:11:18.280 searching online some of those sites has made the car 0:11:18.360 --> 0:11:21.360 buying used car buying process a little more transparent. But 0:11:21.480 --> 0:11:24.360 in addition to those newer companies that have gotten pretty 0:11:24.360 --> 0:11:27.200 dominant in recent years, some of the older companies like 0:11:27.280 --> 0:11:30.520 Craigslist and auto trader, even the just the classic for 0:11:30.600 --> 0:11:33.160 sales sign in the car window, those are still legitimate 0:11:33.160 --> 0:11:35.920 ways to buy the car. All those options are still around. 0:11:36.160 --> 0:11:38.720 And the great thing is that, unlike those other sites 0:11:38.800 --> 0:11:42.400 we mentioned, the price isn't fixed, whereas like carbona, you're 0:11:42.440 --> 0:11:44.319 not gonna be able to negotiate and be like, can 0:11:44.320 --> 0:11:46.559 I get bucks off that price? And they're like, nope, 0:11:46.600 --> 0:11:49.560 the prices the price, Well, you can stay, that's right. 0:11:50.240 --> 0:11:53.440 When it's a private sale, you can haggle. And that's 0:11:53.440 --> 0:11:56.120 a beautiful thing that that might sound awful to you, though, 0:11:56.120 --> 0:11:58.560 I think that some people they're like, haggling, I don't 0:11:58.600 --> 0:12:00.840 want to interact with another human being exactly. Let me 0:12:00.960 --> 0:12:02.440 do what I want to do, and some people don't 0:12:02.440 --> 0:12:04.440 take joy in that. I personally do take joy in that. 0:12:04.880 --> 0:12:06.520 I like to kind of negotiate the price, but some 0:12:06.559 --> 0:12:09.360 people find that to be appalling and I get it, 0:12:09.840 --> 0:12:12.480 but yeah, you want to take extra precautions to say 0:12:12.480 --> 0:12:15.360 safe if you're meeting private car sellers all over your town. 0:12:15.760 --> 0:12:17.679 We would say meeting in the parking lot of a 0:12:17.720 --> 0:12:20.559 police station is certainly one way to help keep yourself 0:12:21.120 --> 0:12:24.640 safer when you're buying a used car from an individual. 0:12:24.960 --> 0:12:27.199 But just remember, even with the advent of these online 0:12:27.240 --> 0:12:29.800 buying services there, you can still go the old school 0:12:29.880 --> 0:12:32.000 route and sometimes that is actually going to save you 0:12:32.240 --> 0:12:35.320 the most money. In large part mat because some of 0:12:35.320 --> 0:12:38.400 those online car buying sites they don't really have many 0:12:38.480 --> 0:12:41.520 older models up for sale, so the starting price point 0:12:41.559 --> 0:12:44.320 is usually fourteen fifteen dollars, and if you're looking for 0:12:44.400 --> 0:12:46.760 a car, a great used car in the five to 0:12:46.920 --> 0:12:48.959 fifteen thousand dollar range, you're not going to find that. 0:12:49.000 --> 0:12:51.600 There's yeah, it cannot be difficult, and honestly, that's what 0:12:51.640 --> 0:12:53.840 we found when we purchased our vans. We purchased about 0:12:53.960 --> 0:12:56.240 about five years ago, and at the time it was 0:12:56.240 --> 0:12:59.240 about five years old, and that was the oldest and 0:12:59.480 --> 0:13:01.880 honestly that we could find. And for us then we 0:13:01.880 --> 0:13:04.880 were like, okay, this is used, but we were still 0:13:04.920 --> 0:13:08.120 paying a lot of money for a vehicle. That was 0:13:08.160 --> 0:13:09.640 something that we had to grapple with and if we 0:13:09.640 --> 0:13:11.920 wanted to save more, we would have had to look 0:13:12.040 --> 0:13:15.120 at a more traditional method of buying. That's right for 0:13:15.160 --> 0:13:16.240 a lot of for a lot of how the money 0:13:16.280 --> 0:13:18.520 listeners who who do want to save a lot, they 0:13:18.520 --> 0:13:21.959 want to drive something that is older and cheaper. Online 0:13:21.960 --> 0:13:24.320 shopping is is probably not going to get the job done. 0:13:24.360 --> 0:13:25.640 You're gonna have to look at some of those more 0:13:25.640 --> 0:13:27.320 old school methods. You're gonna have to look at something 0:13:27.360 --> 0:13:29.920 a little bit older than five years old. Uh. One 0:13:29.920 --> 0:13:32.320 of the other changes we've seen, too, man like in 0:13:32.320 --> 0:13:34.679 the past several years, is that we've seen the number 0:13:34.720 --> 0:13:38.959 of electric vehicles on the road skyrocket. However, that being said, 0:13:39.440 --> 0:13:42.080 range anxiety like that is still an issue when it 0:13:42.120 --> 0:13:46.840 comes to electric vehicle adoption, but massive strides have already 0:13:46.880 --> 0:13:50.440 been made since the first evs debuted. For instance, I 0:13:50.440 --> 0:13:53.160 saw the Mercedes. They just revealed this concept car that 0:13:53.200 --> 0:13:54.800 they claim is going to have a range of six 0:13:55.040 --> 0:13:58.000 d and twenty miles, which is awesome. That's impressive. Yeah, 0:13:58.000 --> 0:14:01.360 it's comparable to what a typical busttion engine powered vehicle 0:14:01.400 --> 0:14:03.439 would be able to get on one fill up. Yeah, 0:14:03.520 --> 0:14:05.760 but you know, like once automakers are able to hit 0:14:05.800 --> 0:14:08.240 the like the five to seven hundred mile range on 0:14:08.280 --> 0:14:11.760 a single charge, mass adoption is likely going to occur. 0:14:12.080 --> 0:14:15.240 I truly believe that's what's kept folks from jumping on 0:14:15.360 --> 0:14:18.520 evs even more because you can't have this benefit, right, 0:14:18.559 --> 0:14:21.440 So with a typical gasoline powered car, you can't have 0:14:21.440 --> 0:14:24.440 a car that where you could drive six miles if 0:14:24.440 --> 0:14:26.680 you wanted to without stopping and then take it away. 0:14:26.800 --> 0:14:29.920 I think for most people that's what caused the anxiety, Like, 0:14:29.920 --> 0:14:32.640 that's what caused the problems. However, like if in some 0:14:32.680 --> 0:14:36.120 bizarro world, if gasoline powered cars only got like two 0:14:36.160 --> 0:14:39.120 hundred or three hundred miles per fill up, there would 0:14:39.120 --> 0:14:41.080 be no hesitation. I think when it came to folks 0:14:41.120 --> 0:14:43.080 switching over to evs, because that's what they would be 0:14:43.160 --> 0:14:44.520 used to, I would say, I think you're a little 0:14:44.520 --> 0:14:46.320 bit wrong on this because I think the average gas 0:14:46.320 --> 0:14:48.640 car when you want my miles, man, well, when you 0:14:48.640 --> 0:14:51.120 do the miles, you're not getting five miles before you 0:14:51.200 --> 0:14:55.560 fill up. You're getting maybe and so it's important to 0:14:55.560 --> 0:14:57.920 to to realize that that's probably But here's the thing. 0:14:58.400 --> 0:15:00.320 So thirty miles per gallon on a twenty gall take. 0:15:01.400 --> 0:15:04.320 Not not on the odyssey, but dude, a lot of 0:15:04.320 --> 0:15:06.360 people are on I mean, and not not even to mention. 0:15:08.000 --> 0:15:09.440 I'm just saying, like, I think, maybe, let's say you're 0:15:09.440 --> 0:15:11.520 getting three fifty. But here's the thing. When you fill 0:15:11.600 --> 0:15:13.240 up at the gas station, it's much quicker than it 0:15:13.320 --> 0:15:15.440 is to charge, and that's part of the slow nure 0:15:15.600 --> 0:15:18.160 in adoption is because the charging still takes so long. 0:15:18.360 --> 0:15:20.720 And so that's why the greater mileage I think is 0:15:20.760 --> 0:15:24.480 needed for in order for people to adopt evis in 0:15:24.560 --> 0:15:27.280 higher numbers totally. But I think even just like the idea, 0:15:27.440 --> 0:15:30.040 like the fact that this was something that was available 0:15:30.080 --> 0:15:32.080 to people, even if they weren't taking advantage of it, 0:15:32.200 --> 0:15:34.480 or even if maybe on a in a perfect world, 0:15:34.640 --> 0:15:36.280 the mileage sheet says that you should be able to 0:15:36.360 --> 0:15:38.160 do this to then take that away. People don't like 0:15:38.200 --> 0:15:39.920 things being taken away from them, right, and so from 0:15:39.920 --> 0:15:42.400 a psychological standpoint, I think that that has been a 0:15:42.440 --> 0:15:44.880 major hurdle for folks as well. But there's good news, right, 0:15:44.920 --> 0:15:47.520 because the median range of a new electric vehicle surpassed 0:15:47.520 --> 0:15:50.520 two fifty miles last year, and that's plenty of range 0:15:50.560 --> 0:15:52.720 for the way that most folks drive. And so while 0:15:52.840 --> 0:15:56.240 evs are typically more expensive upfront, some of them still 0:15:56.280 --> 0:15:59.280 come with a federal tax credit. And plus they're gonna 0:15:59.280 --> 0:16:02.160 save you a holide chunk on gas and maintenance over time. 0:16:02.400 --> 0:16:04.040 And then on top of that, if a two to 0:16:04.120 --> 0:16:07.360 three year old EV makes sense for your family, you 0:16:07.360 --> 0:16:09.720 can save even more by letting someone else take that 0:16:09.800 --> 0:16:11.920 depreciation hit. That's right, because those first three years of 0:16:11.960 --> 0:16:15.360 ownership where you see the biggest depreciation hit come. And 0:16:15.400 --> 0:16:18.360 so yeah, if you're often for that slightly older electric vehicle, 0:16:18.640 --> 0:16:20.120 that might be the sweet spot for a lot of people, 0:16:20.680 --> 0:16:22.200 as also as the range works for you. So do 0:16:22.240 --> 0:16:24.080 you when we were talking about electric vehicles, do you 0:16:24.120 --> 0:16:26.600 say e V typically? Like? So the reason I the 0:16:26.680 --> 0:16:28.880 reason I asked this is because so our oldest daughter, 0:16:28.880 --> 0:16:31.240 her name is Evy, and eight years ago when we 0:16:31.360 --> 0:16:35.400 named her evs as electric vehicles, as a popular term 0:16:35.480 --> 0:16:37.360 like that wasn't on our radar at all. I mean, 0:16:37.400 --> 0:16:39.760 electric vehicles existed, but I think you just called them, Oh, 0:16:39.800 --> 0:16:42.040 that's an electric car or something like that. But we 0:16:42.120 --> 0:16:44.800 often refer to electric cars now as e v's, and 0:16:44.880 --> 0:16:46.920 I feel like we name it's. It's like ten years ago, 0:16:47.040 --> 0:16:51.560 somebody named their daughter Siri or Alexa. Like, it's probably 0:16:51.600 --> 0:16:54.840 pretty annoying right now. Yeah, but yeah, obviously I think 0:16:54.880 --> 0:17:00.160 people are going to be nearly as ubiquitous in our language. Well, 0:17:00.160 --> 0:17:02.760 and at this point I'll share it, like, I I'm 0:17:02.800 --> 0:17:05.760 sorry for everybody whose devices just activated. I just realized 0:17:06.280 --> 0:17:09.080 you're not supposed to actually say those names podcasts more, 0:17:09.080 --> 0:17:10.919 aren't you? No, I don't think so, sorry everybody. Well, 0:17:10.960 --> 0:17:12.679 so I'll share that I I had an Evy for 0:17:12.680 --> 0:17:15.680 a long time. I bought a Nissan Leaf. In part 0:17:15.680 --> 0:17:17.680 of it was because of the tech tax credit that 0:17:17.720 --> 0:17:20.760 you mentioned, Matt, which helped plunge the price down in 0:17:20.800 --> 0:17:23.880 a big way. And you know, there weren't a lot 0:17:23.880 --> 0:17:25.760 of other folks at that period of time, almost ten 0:17:25.840 --> 0:17:28.959 years ago, willing to take that plunge into the electric 0:17:29.040 --> 0:17:31.280 vehicle market. And you're an early adopter. Yeah, well I 0:17:31.320 --> 0:17:34.280 get it. There was a big, big discrepancy in what 0:17:34.440 --> 0:17:36.880 you got then versus what you can get now there 0:17:37.040 --> 0:17:38.719 and so yeah, the range on my Leaf I think 0:17:38.760 --> 0:17:40.840 was something like eighty miles to the charge. That was 0:17:40.840 --> 0:17:44.719 on a warm day. That's right. Well, the condition certainly affects, 0:17:44.720 --> 0:17:46.240 like how many miles you're gonna get out of it, right, 0:17:46.480 --> 0:17:48.320 And so it worked great for us as a two 0:17:48.320 --> 0:17:51.439 car family living in town where my my job was, 0:17:51.600 --> 0:17:53.520 you know, five or six miles away from the house. 0:17:53.800 --> 0:17:56.720