Five Simple Rules To Help You (and Your Partner) Find A Cool Used Car at a Great Price

00:00 - SHOW OPEN

Five Simple Rules To Help You (and Your Partner) Find A Cool Used Car at a Great Price  

We review five simple, yet effective rules to help you find the perfect, fun-to-drive used car at a price that’s within your budget. If you follow them during your search, you should be able to find the vehicle you want at a great price with less effort. 

In addition to reviewing the rules, we will also talk about how things can go a little bit sideways when there’s more than one person involved in the decision making process of finding a used car, and we will give you tips to get your used car search with your partner back on track.

00:58 - INTRO

We introduced five simple, yet effective rules to finding a cool used car at a great price way back in episode 2. 

The Five Rules Are:

• Rule 1 – Know your budget (so you don’t blow your budget)
• Rule 2 – Know what you want
• Rule 3 – Be realistic about your search to Stay Focused
• Rule 4 – Be patient during your search
• Rule 5 – Be Ready to buy when you find the right vehicle

02:20 - Why Review These Rules Again Now?

As we transition from winter to spring and the weather improves, more quality used cars, trucks and SUVs will be posted for sale, so you want to start preparing now if you're planning to buy one in the next couple of months so you are prepared to find and buy the right vehicle for you.

Also, I am personally reviewing these rules again because my wife's Toyota Highlander was totaled when a tree fell on it in January of this year, so my wife and I are back in the used car market and we have to find a way to make the process of finding a replacement vehicle fun.

04:05 - RULE #1: Know Your Budget (So You Don't Blow Your Budget)

Many people blow past their budget number because they don't consider extras, including license, title, sales tax (depending on which state they live in) and pre-purchase inspection costs, along with unknowns, like potential unseen repairs or maintenance.

To avoid that mistake, once you determine your budget, I suggest you subtract 15-20% from the total amount you can spend on a vehicle. The remaining dollar figure (or 80-85% of your total available cash) is the maximum amount you should pay for your new-to-you used car, with the remainder available for tax, license, title and any parts or repairs needed.

06:10 - RULE #2: Know What You Want

It may seem obvious, but the more time you spend up front getting really clear about the features you need and want, the more likely it is that you will find your ideal vehicle.

10:00 – What Happens When A Couple Has To Decide What They Want Together?

You have to put aside individual preferences and do the hard work of deciding together what you both really need and want in your next used car. Sometimes you will be in sync and sometimes you won't, at least at first. However, with effort you will eventually find common ground and come up with a list of vehicles that meet each others needs.

11:45 – Helping My Wife Get Clarity Around What She Really Wants In Her Next Car or SUV

I convey the details of how my wife and I worked through various potential used vehicle candidates that are in within our budget and came up with an initial short list of all-wheel or 4-wheel drive candidates, including:

• 2nd Gen Nissan Xterra
• Jeep Wrangler TJ
• Infiniti FX35 and FX45
• 3rd Gen Toyota RAV4
• Infiniti G37 Coupe

My wife isn't 100% convinced she will like these vehicles, so we need to go test drive each one over the next few weekends.

19:40 - Couple's Therapy - Make The Search and The Test Drive Fun

Figuring out which car you want as a couple can get emotional and going to various dealers to test drive cars can become painful, but that’s why we plan to make it fun. We will combine testdrives with fun places we want to visit and things we like to do (e.g. checking out interesting restaurants, bakeries, coffee shops, hiking destinations, etc.)

21:25 - RULE #3: Be Realistic About Your Used Car Search So You Stay Focused

Now that you know your budget and know exactly what you want in your next vehicle, you can use that information to remain realistic and stay focused while conducting your search. This will keep you from wasting time looking at cars or trucks that are fun, but out of your price range, not right for you, or both.

25:00 - Rule #4: Be Patient During Your Search

At some point during your used car search, you may feel like you are not even close to finding a car and you just want to give up and buy the next car, truck or SUV that comes along. But if you stay the course, the effort you put into a patient, focused search will definitely save you a lot more money in the long run when buying a used vehicle.

28:35 - Rule #5: Be Ready To Buy When You Find the Vehicle You Want 

Many people mess this up a time or two before getting it right.  Typically that's because they are too slow to act when they find a car that seems perfect at a low price, or they don't actually have the money ready to make the purchase. 

34:25 - Show Wrap/Close

The next time you’re in the market for a used car, truck or SUV, be sure to follow these five simple used car buying rules:

• Know your budget
• Know what you want
• Be Realistic and Stay focused
• Be patient
• Be ready to buy when you find a vehicle that meets your needs.

Stick to this plan and you should have an enjoyable and successful search for your next cool used car. And if you have go through this process with a partner, put in the extra time to make sure everyone is on the same page, then try to keep it as fun as possible when you hit the road to look at vehicles you’re interested in buying. 

This is one activity where the journey should be just as much fun as the destination.