[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:01.41,0:00:04.44,Default,,0000,0000,0000,,- So you're looking to buy a car.
Dialogue: 0,0:00:04.44,0:00:06.72,Default,,0000,0000,0000,,So, I'll at least tell\Nyou how I would approach
Dialogue: 0,0:00:06.72,0:00:08.08,Default,,0000,0000,0000,,buying a car.
Dialogue: 0,0:00:08.08,0:00:09.36,Default,,0000,0000,0000,,The first thing is thinking\Nabout what you can afford.
Dialogue: 0,0:00:09.36,0:00:10.56,Default,,0000,0000,0000,,And, I would think about that before
Dialogue: 0,0:00:10.56,0:00:13.11,Default,,0000,0000,0000,,you even look at the types\Nof cars you might wanna buy.
Dialogue: 0,0:00:13.11,0:00:16.14,Default,,0000,0000,0000,,Because it could be very\Ntempting to get some car,
Dialogue: 0,0:00:16.14,0:00:18.51,Default,,0000,0000,0000,,and then somehow rationalize\Nthat you can afford it.
Dialogue: 0,0:00:18.51,0:00:20.28,Default,,0000,0000,0000,,So, look at your budget,
Dialogue: 0,0:00:20.28,0:00:22.59,Default,,0000,0000,0000,,look at how much money you can,
Dialogue: 0,0:00:22.59,0:00:24.18,Default,,0000,0000,0000,,you think you can put aside.
Dialogue: 0,0:00:24.18,0:00:25.47,Default,,0000,0000,0000,,Let's say, every month.
Dialogue: 0,0:00:25.47,0:00:29.46,Default,,0000,0000,0000,,Either for a payment on\Na car, to lease a car,
Dialogue: 0,0:00:29.46,0:00:31.11,Default,,0000,0000,0000,,or to save up for a car.
Dialogue: 0,0:00:32.47,0:00:34.80,Default,,0000,0000,0000,,And if you're going to\Nbe financing the car,
Dialogue: 0,0:00:34.80,0:00:36.27,Default,,0000,0000,0000,,or getting it on a lease,
Dialogue: 0,0:00:36.27,0:00:38.52,Default,,0000,0000,0000,,you're also gonna have to\Nput some money down there.
Dialogue: 0,0:00:38.52,0:00:40.56,Default,,0000,0000,0000,,But think about that, what you can budget.
Dialogue: 0,0:00:40.56,0:00:42.00,Default,,0000,0000,0000,,And then, whatever amount that is,
Dialogue: 0,0:00:42.00,0:00:44.07,Default,,0000,0000,0000,,remember, it's not just gonna be
Dialogue: 0,0:00:44.07,0:00:47.46,Default,,0000,0000,0000,,for the payments on the\Ncar, or the cost of the car.
Dialogue: 0,0:00:47.46,0:00:50.61,Default,,0000,0000,0000,,It's also going to be\Nneeded for things like gas.
Dialogue: 0,0:00:50.61,0:00:53.43,Default,,0000,0000,0000,,And things like insurance,\Nand maintenance.
Dialogue: 0,0:00:53.43,0:00:55.26,Default,,0000,0000,0000,,And maybe even a parking spot,
Dialogue: 0,0:00:55.26,0:00:57.99,Default,,0000,0000,0000,,if you need to pay for\Nwhere you're going to
Dialogue: 0,0:00:57.99,0:00:59.61,Default,,0000,0000,0000,,actually keep your car.
Dialogue: 0,0:00:59.61,0:01:02.07,Default,,0000,0000,0000,,So, keep all of those things in mind.
Dialogue: 0,0:01:02.07,0:01:03.84,Default,,0000,0000,0000,,Now, once you have that in place,
Dialogue: 0,0:01:03.84,0:01:07.53,Default,,0000,0000,0000,,you can think about what kind\Nof car you're going to buy.
Dialogue: 0,0:01:08.84,0:01:11.13,Default,,0000,0000,0000,,And, I really encourage you to think about
Dialogue: 0,0:01:11.13,0:01:13.20,Default,,0000,0000,0000,,the car that you need,
Dialogue: 0,0:01:13.20,0:01:16.59,Default,,0000,0000,0000,,versus some dream about\Nwhat you might want.
Dialogue: 0,0:01:16.59,0:01:18.45,Default,,0000,0000,0000,,I think all of us are, as human beings,
Dialogue: 0,0:01:18.45,0:01:20.67,Default,,0000,0000,0000,,we are very susceptible\Nto market, marketing.
Dialogue: 0,0:01:20.67,0:01:23.05,Default,,0000,0000,0000,,We imagine, "Hey, if I had this car,
Dialogue: 0,0:01:23.05,0:01:25.38,Default,,0000,0000,0000,,"my friends are gonna say\Nthis, this, and that."
Dialogue: 0,0:01:25.38,0:01:26.70,Default,,0000,0000,0000,,Usually they won't care.
Dialogue: 0,0:01:27.61,0:01:28.83,Default,,0000,0000,0000,,And almost any car you buy,
Dialogue: 0,0:01:28.83,0:01:31.98,Default,,0000,0000,0000,,even if it's a super-fancy\Nexotic sports car,
Dialogue: 0,0:01:31.98,0:01:34.65,Default,,0000,0000,0000,,within a week or two, it's\Ngonna get old. (chuckling)
Dialogue: 0,0:01:34.65,0:01:37.62,Default,,0000,0000,0000,,And you're gonna realize\Nit's just something
Dialogue: 0,0:01:37.62,0:01:39.00,Default,,0000,0000,0000,,to get from point A to point B.
Dialogue: 0,0:01:39.00,0:01:40.05,Default,,0000,0000,0000,,So, think about what you need.
Dialogue: 0,0:01:40.05,0:01:41.73,Default,,0000,0000,0000,,How much capacity, storage,
Dialogue: 0,0:01:41.73,0:01:43.95,Default,,0000,0000,0000,,how many people are you\Ngonna be transporting?
Dialogue: 0,0:01:43.95,0:01:46.86,Default,,0000,0000,0000,,In terms of cost? Gas.
Dialogue: 0,0:01:46.86,0:01:48.21,Default,,0000,0000,0000,,How much gas it is using?
Dialogue: 0,0:01:48.21,0:01:49.89,Default,,0000,0000,0000,,And it's not just the cost of the gas,
Dialogue: 0,0:01:49.89,0:01:51.84,Default,,0000,0000,0000,,but the convenience, or the inconvenience,
Dialogue: 0,0:01:51.84,0:01:55.38,Default,,0000,0000,0000,,of having to stop for gas\Nif you're driving a lot.
Dialogue: 0,0:01:55.38,0:01:58.86,Default,,0000,0000,0000,,Think about, when you think\Nabout the cost of the car,
Dialogue: 0,0:01:58.86,0:02:00.90,Default,,0000,0000,0000,,don't just think about how\Nmuch you're paying for it.
Dialogue: 0,0:02:00.90,0:02:02.94,Default,,0000,0000,0000,,Or, don't just think about the payment
Dialogue: 0,0:02:02.94,0:02:05.73,Default,,0000,0000,0000,,that you're making on either\Nthe financing, or a lease.
Dialogue: 0,0:02:05.73,0:02:09.99,Default,,0000,0000,0000,,Think about what that car\Nmight be worth in five years,
Dialogue: 0,0:02:09.99,0:02:11.88,Default,,0000,0000,0000,,or 10 years, however\Nlong you are taking it.
Dialogue: 0,0:02:11.88,0:02:13.44,Default,,0000,0000,0000,,So, there are definitely scenarios
Dialogue: 0,0:02:13.44,0:02:17.55,Default,,0000,0000,0000,,where Car A might cost more than Car B,
Dialogue: 0,0:02:17.55,0:02:19.98,Default,,0000,0000,0000,,but the amount that they have depreciated,
Dialogue: 0,0:02:19.98,0:02:21.45,Default,,0000,0000,0000,,over say five years,
Dialogue: 0,0:02:21.45,0:02:24.06,Default,,0000,0000,0000,,the more expensive car\Nhas depreciated less.
Dialogue: 0,0:02:24.06,0:02:25.72,Default,,0000,0000,0000,,So the cost of owning it,
Dialogue: 0,0:02:25.72,0:02:27.87,Default,,0000,0000,0000,,if you sell either car after five years,
Dialogue: 0,0:02:27.87,0:02:29.94,Default,,0000,0000,0000,,the cost of owning the more expensive car,
Dialogue: 0,0:02:29.94,0:02:32.22,Default,,0000,0000,0000,,in some cases, not always,\Nit's usually not the case.
Dialogue: 0,0:02:32.22,0:02:33.57,Default,,0000,0000,0000,,But sometimes it is,
Dialogue: 0,0:02:33.57,0:02:35.73,Default,,0000,0000,0000,,the more expensive car\Ncould actually be cheaper,
Dialogue: 0,0:02:35.73,0:02:37.65,Default,,0000,0000,0000,,because it has a higher resale value.
Dialogue: 0,0:02:38.64,0:02:40.95,Default,,0000,0000,0000,,Once you figure out the\Ntype of car you're getting,
Dialogue: 0,0:02:40.95,0:02:42.66,Default,,0000,0000,0000,,and even if you could afford more car,
Dialogue: 0,0:02:42.66,0:02:44.91,Default,,0000,0000,0000,,I do encourage, get the car you need.
Dialogue: 0,0:02:44.91,0:02:47.04,Default,,0000,0000,0000,,And if you have surplus money,\Nput it into your savings,
Dialogue: 0,0:02:47.04,0:02:48.69,Default,,0000,0000,0000,,invest it, like in all the other videos
Dialogue: 0,0:02:48.69,0:02:50.04,Default,,0000,0000,0000,,that we've talked about.
Dialogue: 0,0:02:50.04,0:02:51.24,Default,,0000,0000,0000,,But now you're ready to go,
Dialogue: 0,0:02:51.24,0:02:54.33,Default,,0000,0000,0000,,to actually go get the car itself.
Dialogue: 0,0:02:54.33,0:02:58.08,Default,,0000,0000,0000,,Now, if when you're selecting\Na car, be sure to test drive.
Dialogue: 0,0:02:58.08,0:03:01.56,Default,,0000,0000,0000,,Think about the warranty if\Nyou're getting a used car.
Dialogue: 0,0:03:01.56,0:03:04.35,Default,,0000,0000,0000,,Make sure you get the vehicle\Nidentification number,
Dialogue: 0,0:03:04.35,0:03:06.57,Default,,0000,0000,0000,,the VIN number, so that you can make sure
Dialogue: 0,0:03:06.57,0:03:08.04,Default,,0000,0000,0000,,that it hasn't been damaged,
Dialogue: 0,0:03:08.04,0:03:09.60,Default,,0000,0000,0000,,it hasn't been in an accident before,
Dialogue: 0,0:03:09.60,0:03:12.42,Default,,0000,0000,0000,,there isn't some shady history\Nassociated with the car,
Dialogue: 0,0:03:12.42,0:03:14.10,Default,,0000,0000,0000,,that you don't know about.
Dialogue: 0,0:03:14.10,0:03:15.45,Default,,0000,0000,0000,,And then, once you identify a car,
Dialogue: 0,0:03:15.45,0:03:16.28,Default,,0000,0000,0000,,everything looks good,
Dialogue: 0,0:03:16.28,0:03:17.73,Default,,0000,0000,0000,,it looks like a car you can afford,
Dialogue: 0,0:03:17.73,0:03:19.29,Default,,0000,0000,0000,,it's the car that you need.
Dialogue: 0,0:03:19.29,0:03:20.88,Default,,0000,0000,0000,,Then, you have to think about\Nhow you're gonna pay for it.
Dialogue: 0,0:03:20.88,0:03:23.52,Default,,0000,0000,0000,,And of course, if you've\Nsaved up money for a car,
Dialogue: 0,0:03:23.52,0:03:26.40,Default,,0000,0000,0000,,maybe you could pay with cash,\Nor significant down payment,
Dialogue: 0,0:03:26.40,0:03:27.99,Default,,0000,0000,0000,,finance the rest.
Dialogue: 0,0:03:27.99,0:03:30.36,Default,,0000,0000,0000,,Financing, as we talked\Nabout in other videos,
Dialogue: 0,0:03:30.36,0:03:32.61,Default,,0000,0000,0000,,it's gonna be dependent\Non your credit score.
Dialogue: 0,0:03:32.61,0:03:35.49,Default,,0000,0000,0000,,Definitely look carefully\Nat the interest rate.
Dialogue: 0,0:03:35.49,0:03:38.49,Default,,0000,0000,0000,,And then, leasing could also be option.
Dialogue: 0,0:03:38.49,0:03:41.61,Default,,0000,0000,0000,,Now leasing, if you own\Na business of some kind,
Dialogue: 0,0:03:41.61,0:03:43.32,Default,,0000,0000,0000,,especially a business that requires a car,
Dialogue: 0,0:03:43.32,0:03:44.70,Default,,0000,0000,0000,,a lease can be interesting,
Dialogue: 0,0:03:44.70,0:03:46.86,Default,,0000,0000,0000,,because it might be tax deductible.
Dialogue: 0,0:03:46.86,0:03:48.99,Default,,0000,0000,0000,,So it helps to reduce your tax burden.
Dialogue: 0,0:03:48.99,0:03:50.82,Default,,0000,0000,0000,,But in most cases,
Dialogue: 0,0:03:50.82,0:03:53.04,Default,,0000,0000,0000,,a lease ends up when you do the math,
Dialogue: 0,0:03:53.04,0:03:55.80,Default,,0000,0000,0000,,actually becomes more\Nexpensive than financing it.
Dialogue: 0,0:03:55.80,0:03:58.74,Default,,0000,0000,0000,,And there's some limitations\Nto leasing, as well.
Dialogue: 0,0:03:58.74,0:04:00.75,Default,,0000,0000,0000,,You can only drive it so many miles
Dialogue: 0,0:04:00.75,0:04:02.79,Default,,0000,0000,0000,,over the course of a year.
Dialogue: 0,0:04:02.79,0:04:05.01,Default,,0000,0000,0000,,Beyond that, the company might charge you.
Dialogue: 0,0:04:05.01,0:04:07.20,Default,,0000,0000,0000,,And then, you might lease\Nit for two or three years,
Dialogue: 0,0:04:07.20,0:04:09.30,Default,,0000,0000,0000,,and then after that point,
Dialogue: 0,0:04:09.30,0:04:10.98,Default,,0000,0000,0000,,you have to get in another lease.
Dialogue: 0,0:04:10.98,0:04:13.23,Default,,0000,0000,0000,,Sometimes they will\Nallow you to buy that car
Dialogue: 0,0:04:13.23,0:04:14.61,Default,,0000,0000,0000,,at a discounted price.
Dialogue: 0,0:04:14.61,0:04:18.90,Default,,0000,0000,0000,,But once again, usually\Nyou should do the numbers.
Dialogue: 0,0:04:18.90,0:04:20.22,Default,,0000,0000,0000,,It's gonna cost a little bit more
Dialogue: 0,0:04:20.22,0:04:21.60,Default,,0000,0000,0000,,than if you just bought it out right,
Dialogue: 0,0:04:21.60,0:04:23.19,Default,,0000,0000,0000,,or if you were to finance the car.
Dialogue: 0,0:04:23.19,0:04:25.92,Default,,0000,0000,0000,,But think about how you're\Ngoing to pay for the car.
Dialogue: 0,0:04:25.92,0:04:28.86,Default,,0000,0000,0000,,It's a very important consideration there.
Dialogue: 0,0:04:28.86,0:04:32.16,Default,,0000,0000,0000,,And then, you get the car.
Dialogue: 0,0:04:33.47,0:04:38.47,Default,,0000,0000,0000,,And there, the paperwork can\Nbe really involved sometimes.
Dialogue: 0,0:04:40.29,0:04:42.93,Default,,0000,0000,0000,,I encourage you, call ahead of time.
Dialogue: 0,0:04:42.93,0:04:45.27,Default,,0000,0000,0000,,Do as much negotiating as\Nyou can do on the phone.
Dialogue: 0,0:04:47.51,0:04:49.13,Default,,0000,0000,0000,,It's like, okay, this is a firm price,
Dialogue: 0,0:04:49.13,0:04:50.57,Default,,0000,0000,0000,,this is what we're gonna do.
Dialogue: 0,0:04:50.57,0:04:51.80,Default,,0000,0000,0000,,Get them to say, "Yes."
Dialogue: 0,0:04:51.80,0:04:53.66,Default,,0000,0000,0000,,And even on price, you can look up things
Dialogue: 0,0:04:53.66,0:04:56.69,Default,,0000,0000,0000,,like the MSRP, the Manufactured\NSuggested Retail Price.
Dialogue: 0,0:04:56.69,0:04:59.66,Default,,0000,0000,0000,,And you can also look the invoice price,
Dialogue: 0,0:04:59.66,0:05:02.18,Default,,0000,0000,0000,,which is essentially what the dealer is,
Dialogue: 0,0:05:02.18,0:05:03.83,Default,,0000,0000,0000,,what it cost for the\Ndealer to get the car.
Dialogue: 0,0:05:03.83,0:05:05.18,Default,,0000,0000,0000,,Now, if your car is on demand,
Dialogue: 0,0:05:05.18,0:05:06.77,Default,,0000,0000,0000,,if there's a shortage, a wait list,
Dialogue: 0,0:05:06.77,0:05:08.90,Default,,0000,0000,0000,,you're not gonna be able to\Nget close to the invoice price.
Dialogue: 0,0:05:08.90,0:05:09.98,Default,,0000,0000,0000,,It probably will be closer to
Dialogue: 0,0:05:09.98,0:05:11.72,Default,,0000,0000,0000,,the Manufactured Suggested Retail Price,
Dialogue: 0,0:05:11.72,0:05:12.77,Default,,0000,0000,0000,,maybe even a little bit more,
Dialogue: 0,0:05:12.77,0:05:14.54,Default,,0000,0000,0000,,if it's a really high-demand car.
Dialogue: 0,0:05:14.54,0:05:16.73,Default,,0000,0000,0000,,But if it's not a super high-demand car,
Dialogue: 0,0:05:16.73,0:05:18.77,Default,,0000,0000,0000,,there's a lot of inventory\Nat the dealership,
Dialogue: 0,0:05:18.77,0:05:20.90,Default,,0000,0000,0000,,you could actually\Ndiscount a pretty good bit.
Dialogue: 0,0:05:20.90,0:05:22.55,Default,,0000,0000,0000,,And you could even get invoice,
Dialogue: 0,0:05:22.55,0:05:24.92,Default,,0000,0000,0000,,or in many cases, you\Ncan even sometimes get
Dialogue: 0,0:05:28.97,0:05:31.04,Default,,0000,0000,0000,,Be really thoughtful on price.
Dialogue: 0,0:05:31.04,0:05:32.45,Default,,0000,0000,0000,,Don't necessarily,
Dialogue: 0,0:05:32.45,0:05:34.13,Default,,0000,0000,0000,,unless it's an option\Nthat you really want,
Dialogue: 0,0:05:36.68,0:05:39.08,Default,,0000,0000,0000,,and usually you're gonna\Nhave to get insurance
Dialogue: 0,0:05:39.08,0:05:42.14,Default,,0000,0000,0000,,within a few days of\Nbringing the car home,
Dialogue: 0,0:05:42.14,0:05:44.100,Default,,0000,0000,0000,,or sometimes you have to have\Nthe insurance immediately
Dialogue: 0,0:05:44.100,0:05:46.23,Default,,0000,0000,0000,,when you get it.