902: How to Buy a Car, Part 5: The Single Best Technique to Source a Quality Used Car
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 8 December 2022
⏱️ 20 minutes
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| 0:00.0 | Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge |
| 0:03.0 | skills, insights, and encouragement you need to live a rich and meaningful life now, while |
| 0:07.0 | building a plan for financial freedom in 10 years or less. |
| 0:09.8 | On today's podcast, I want to share with you the single best technique for sourcing |
| 0:15.6 | a quality used car. |
| 0:18.6 | This episode, of course, fits into our How to Buy a Car series. |
| 0:21.8 | In episode one of that series, I talked about how to decide whether you should buy a car |
| 0:25.8 | or not. |
| 0:26.8 | I encourage that if possible, without giving too much lifestyle, just skip having a car. |
| 0:31.8 | Then of course, acknowledging that most of us are going to choose to have a car for |
| 0:35.7 | various reasons, we talked in episode two about how to decide what kind of car you should |
| 0:40.1 | buy, and then episode three setting a budget for that car, deciding how much you should |
| 0:44.5 | spend on a car before you go and look. |
| 0:47.8 | The natural outcome of the budget, for many people, is going to be that the decision about |
| 0:52.6 | buying a used car or a new car is going to be fairly obvious. |
| 0:56.8 | Remember that we're aiming for somewhere between around 10% of our annual income to as high |
| 1:02.6 | as 50%. |
| 1:04.4 | The lower the better for wealth creation purposes, as long as you can get a vehicle |
| 1:07.7 | that's appropriate for your needs. |
| 1:09.6 | That's our target in terms of overall spending, meaning amount of money to spend on a car |
| 1:15.2 | across our household, aiming for 10%. |
| 1:17.8 | If you're serious about wealth building and up to as high as 50%, if your wealth building |
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