4.8 β’ 7.8K Ratings
ποΈ 24 February 2025
β±οΈ 12 minutes
ποΈ Recording | iTunes | RSS
π§ΎοΈ Download transcript
In this clip of EYL featuring special guest Christian Charvet, we dive deep into the impactful decision-making process of purchasing a car. Whether it's a new vehicle or a pre-owned one, Christian breaks down the pros and cons of each choice and shares crucial tips to help you make the best financial decision for your needs.
π *Used Cars vs New Cars:* Christian meticulously explains why mileage, interest rates, and warranties play a critical role when deciding between a used or new vehicle. This clip captures valuable insights for anyone looking to buy a car, especially in todayβs fluctuating automotive market. Avoid common financing pitfalls and stay informed!
*Key Topics & Timestamps:*
0:00 β Rashad Bilal kicks off the discussion on whether buying a used car or a new car is better.
0:19 β Christian shares why purchasing a car is more about financial decisions over ego.
1:01 β The importance of buying used cars from authorized dealers and rigorous inspections.
2:06 β Certified pre-owned cars: Why warranties offer peace of mind and save you costs.
3:01 β COVID-19 pandemic's impact on the used car market and price escalations.
4:07 β Christian elaborates on used car interest rates (7%-14%) and their impact on financing.
5:06 β A lesson on simple interest loans, depreciation, and the financial dangers of being "upside down" with car repayments.
7:04 β Tips to get out of a negative equity cycle, the benefits of leasing as a solution.
8:29 β Breakdown of warranties by mileage and time using the concept of "Date of First Use" (DOFU).
*Hashtags:*
#UsedCars #NewCars #CarBuyingTips #CarFinancing #EconomicDecisions #Warranties #VehiclePurchasing #EYLMotivation
Dive into the full clip and gain an in-depth understanding to make smarter car-buying choices! Donβt let hidden costs and depreciation catch you off guard. πβ¨
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0:55.0 | secure. You mentioned used cars and new cars, right? So can you go down that rabbit hole as far as, |
1:04.7 | like, what's the benefits of having a used car versus a new car or a new car versus a used car. |
1:14.9 | All right. |
1:15.5 | So there's a lot of this is a huge question that we get. |
1:21.0 | Should I buy new or should I buy used? |
1:22.8 | One, I'll tell you something. |
1:24.4 | You got to take your ego out of this. |
1:26.5 | Okay. |
1:29.3 | This is a financial decision. I tell people all the time, if you're going to keep a car, let's just say you're going to drive a lot of mileage. |
1:36.3 | When I say a lot of miles, I'm talking about over 20,000 miles a year and you plan on keeping this car you know for a certain amount of time for |
1:44.8 | let's say an extended period of time it makes sense to buy used now when you are buying used |
1:50.3 | i recommend that you buy it from the authorized dealer and here's the reason why |
1:57.8 | when you're buying the car from an authorized dealer these vehicles have gone through an inspection so that dealership |
2:03.7 | Meaning let's just say you're buying a pre-owned Honda okay |
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