How to Buy a Car And Not Get Screwed (in 2026!)

The Personal Finance Podcast

Andrew Giancola

Entrepreneurship, Investing, Business

4.7 • 1.4K Ratings

🗓️ 16 March 2026

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Join Andrew’s FREE Investing for Beginner’s Masterclass. Click the Link Here 👈 Join the community built to help you master your money, stay accountable, and reach financial freedom. 👉 Join Master Money Academy today! In this episode of The Personal Finance Podcast, Andrew breaks down exactly how to buy a car in 2026 without wrecking your finances, covering why paying cash for a depreciating asset is almost always the smarter wealth move, the 20-4-12-10 rule and why it changes how you think about every car purchase, how to protect yourself from being underwater on a loan, why gap insurance is a band-aid and not a strategy, the difference between thinking like a borrower versus thinking like a wealth builder, why the monthly payment question is the wrong question to ask, how total transportation costs quietly destroy budgets when you ignore insurance, fuel, and maintenance, and why keeping your car for 10 years or longer is one of the most underrated wealth-building moves you can make. Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! Partner Deals Join the loyalty program for renters at joinbilt.com/PFP Indeed: Start hiring NOW with a SEVENTY-FIVE DOLLAR SPONSORED JOB CREDIT to upgrade your job post at http://Indeed.com/personalfinance Go to http://policygenius.com to get your free life insurance quote. Thanks to Fundrise for Sponsoring the show! Invest in real estate going to http://fundrise.com/pfp Go to Acorns.com/pfp and start automating your investments and get a $5 bonus today! Get 50% Off Monarch, the all-in-one financial tool at http://www.monarch.com/PFP DeleteMe: Go to https://joindeleteme.com/PFP20/ and Use Promo Code PFP for 20% off! Connect With Andrew on Social Media: Instagram TikTok Twitter Master Money Website Master Money Youtube Channel Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	on this episode of the Personal Finance Podcast, how to buy a car in 2006.
0:14.4	What's up, everybody, and welcome to the Personal Finance Podcast.
0:19.9	I'm your host, Andrew, founder of mastermoney.com. And today on the
0:23.9	personal finance podcast, we're going to dive into how to buy a car in 2026. If you guys have
0:30.1	any questions, make sure you join the Mastermoney newsletter by going to mastermoney.com
0:35.2	slash newsletter. And don't forget to follow us on Apple Podcasts, Spotify, YouTube, or whatever podcast player
0:41.6	you love listening to this podcast on.
0:43.8	And if you want to have out the show, consider leaving a five-star rating and review on Apple
0:48.1	podcast, Spotify, or your favorite podcast player.
0:51.8	Now, today, we're going to be diving into how to buy a car in
0:55.5	2006. Now, our goal is we're not going to take you step by step on how to find the best
1:00.6	deal at a dealership or how to make sure that you are following the right process when you're ready
1:05.3	to buy a car. What we're going to be talking about here is how to make the best financial decision
1:09.1	for your situation. We will do another episode in the future on some of the tactics and tips with some car buying
1:14.5	experts on how to buy a car and get the best deal when you're looking at a dealership.
1:19.5	Because right now, as you and I both know, cars are at their highest level that they have been
1:23.7	in a very long time. And so we need to make sure that we do not make a mistake
1:28.1	when we are buying something like a depreciating asset. So if you don't know, cars go down in value
1:33.7	over time. And in fact, over the course of the first couple of years, cars can go down
1:37.7	20 to 30% for a brand new car. And over the course of five years, they'll go down 40% in value, meaning you are losing
1:45.5	those dollars every single day. They are liabilities that are not something that you want to
1:50.7	overspend on. In fact, you can get yourself in some really bad financial situations if you do this.
	...

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