Diamond in the rough…does it exist, we’re talking about cars here, there’s no secret here, we all seek that perfect deal whether we like to admit it or not. Even the most lax of consumers doesn’t want to over pay for a car, it’s a big investment. Solution: buy smart and buy used! Buying new cars in today’s market has become risky business due to a combination of 0% financing, $10,000 dollar rebates, and too good to be true offers on “new cars”, causing market values to plummet. Answer! Buy used! Pre-owned cars have taken the driver’s seat, with 50 – 80% off original msrp’s. You can still look cool in a late model car, and feel cooler when you have money in the bank; I’m all about smart economical, hence country hill motors and our $3-12 thousand dollar price range.
So let’s talk about buying a used car…there’s a term I like to use called “sweet-spot” buying, technically, for you brainiacs out there, it’s buying a car where the market value vs. the book value favor the customer…now let’s break that down for us laymen, in the words of my Jewish grandmother…”picture this”, imagine buying a car, and financing the whole thing, say you borrowed a round number like 10 grand, and your monthly payment is $250 greenbacks, what’s happened to a lot of people, is when they go to trade that car-in in two years “which might I add is an average length of ownership”, they owe more than the cars is worth, this naughty dirty phrase is called “negative equity” (scary sounds)…so now, grandma…”picture this” same scenario, except we go trade in the car, and the dealer gives us more than it’s worth…freedom!!!, …how do you do this? Understand that a car is a depreciating asset, and invest in vehicles that have a great track record in holding value, a great example is a Honda accord, simply look at what it sold for new, then look at an average of what used models are going for as they age, and you can do this by simply getting on auto trader’s website. I’m all about knowledge, and how about this for help…email me at CountryHillMotors@gmail.com, and ill email you back my top ten, simply tell me what style of vehicle you want…again, CountryHillMotors@gmail.com Want to learn more? Listen to “The Auto Advocates” Live on KCMO Talk Radio 710 Saturdays @ 1:30PM CST !
Your Voice of Reason
-Danny Z
