How to buy a car (without being taken for a ride)

Life Kit

NPR

Health & Fitness, Self-improvement, Kids & Family, Education, Business

4.3 • 3.9K Ratings

🗓️ 18 February 2020

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Whether you're a pro at car buying or intimidated by the thought of stepping into a car dealership, there are always ways to play the car-buying game better. This episode will help you strategize to avoid the potential pitfalls when it comes to getting a car loan, so you can drive away with a great deal.

Transcript

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0:00.0	Car buying can be tricky.
0:03.4	Those folks at the dealership, they know everything
0:06.3	about how to play this game and you don't.
0:09.3	When I was being trained to be a car salesman,
0:12.0	the teacher drew what looked like a speedometer
0:14.9	on the whiteboard and he said,
0:17.2	you need to get your customer up on the excitement meter.
0:20.8	That's Philip Reed.
0:22.0	He spent decades helping people make smarter
0:24.2	car buying decisions and that excitement meter
0:26.3	he's talking about, you wanna keep an eye on that too.
0:29.0	So they ask, what is this car worth?
0:31.0	You say, well, we can sell it to you for 19,000.
0:34.4	But look at the car.
0:35.7	Can you imagine having this in your driveway?
0:38.3	Can you imagine your friends saying,
0:39.6	whoa, you got a new car?
0:41.3	So that's the excitement meter
0:43.3	and they're always trying to get you
0:45.5	as high on that as possible.
0:48.7	So your job is to not get as high as possible
0:53.3	on the excitement meter.
	...

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