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StitcherCars are meant to get you to your destination NOT become your second home. But these days, people are spending so much even after buying a new car that it makes you stop and think… is it really worth it? Hayden Schreier breaks it all down pointing out the hidden costs, cheap parts, and big red flags to watch out for before you buy.
The car's purpose is to get you from point A to B not to become an extension of your living room.
Sponsors:
- tiny trash cans. The amazon must haves for your new car that hold one tissue and no trash bag. What’s not trash is our Spending Planner Spreadsheet! If you’re not an app girly and if you’re a spreadsheet girly, this is for you. It is mobile optimized and it’s got everything – annual dashboard, bill calendar, savings goal tracker, debt snowball tracker and our favorite opportunity cost calculator so you can see in real time how small choices impact long-term goals.
Hayden Schreier is a content creator, car enthusiast, YouTube mechanic, and entrepreneur passionate about exposing the hidden costs of everyday life, from spending habits to consumer traps. While studying marketing in college, he launched his YouTube career to help people rethink how they spend, save, invest, and live more intentionally.
Are New Cars Worth the Hype?
Reliability, the latest technology, and financing incentives are some of the reasons many people prefer buying a new car over a used one. While there’s nothing wrong with getting one if you have the means, Hayden sees a lot of red flags with new cars these days. From how they’re sold, to hidden fees, unnecessary features, and new tech that makes cars feel disposable.
How to Shop Used Cars
Hayden recommends going for cars that are 2–3 years old. Could be four years as this is usually when depreciation kicks so any early issues have likely been dealt with. Even 10–15-year-old cars can be a good choice if you’ve done your research. He suggests checking out Car Care Nut on YouTube for tips and doing pre-purchase inspection or having a professional do it to save you thousands later.
He also reminds us not to judge a car by how it looks. It’s what’s underneath that really matters, because that’s where the expensive problems usually hide.
Look Out for These Cars Going Forward
Hayden warns that unfortunately, it’s becoming a trend among manufacturers like Ford, Audi, and Volkswagen to replace critical engine components with plastic, calling it “weight saving.” Parts like the oil pan used to be metal, which could handle heat better. Now, with plastic, it becomes a safety and durability issue. More and more plastic in engines means more expensive repairs down the line. Brands like Kia and Hyundai are also known for this.
Therefore, he advocates sticking with the car you already have as it’ll likely cost less to maintain than buying a new one. He believes that if you stay on top of preventive maintenance, your car will keep treating you well too.
How to Negotiate When Buying Used Car
Jen and Jill drop a quick tip on how to negotiate when buying a car, and it all comes down to four key moves: don’t mention that you’re making a down payment, skip talking about any trade-ins, say you’re aiming for the lowest monthly payment possible, and most importantly, act like you know exactly what you’re doing.
Best deal you’ve ever scored on a car? (purchase/insurance/repair,etc)
Jen saved $4K by walking away from a bad deal. Jill? She traded her car for a kitchen renovation and sold it to another friend for a great deal!
Get more from Hayden
Youtube: Hayden.Schreier
Instagram: @hayden.schreier
Bill of The Week
Hey Billy the car kid – we found our own BILL!
Thanks so Much for Listening!
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LONG VERSION … It will help you understand what deeply drives your financial desires, give you tools to better understand your partner’s desires and learn how to prioritize it all, giving all the things proper value for the season you find yourselves in. These tools can be used in any and every life season because let’s be real, life seasons change, finances shift (and change) but knowing ourselves, what we value and how to honor that is a skill we should utilize every day. This book helps you do that in a relatable, attainable way.
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