The Hello Bar is a simple web toolbar that engages users and communicates a call to action.

135 Past Due – Do-Overs: Buying A Car

by Derek Sisterhen on December 10, 2010


Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Past Due: Radio 135 – Do-Overs: Buying A Car

Right-click to download

Send me your feedback or leave me a voice mail: (919) 374-0501

Leave a review on iTunes

Remember when you’d yell, “Do over!” while playing games as a child? It was so easy to have a second (or third, or fourth) chance back then. When I reflect on how I purchased my last car (over five years ago), I can easily say I’d like a do-over.

Today, I discussed three mistakes (and one success) I made when purchasing the car that ultimately became what Elisa and I buckled down to pay off in 16 months.

1) Beware of car dealerships – there’s no such thing as “just looking”!

2) Beware of letting a car repair “force” you into buying a brand new car; emotions can get the best of you (and your savings account).

3) Beware of not running the numbers; my car buying decision has negatively impacted my net worth by over $17,000.

4) Success: Whenever possible, sell your vehicles yourself.

Remember when Pontiac became a collector’s item? Check out our “Pontiac Gets the Axe” video.

Subscribe to the Past Due: Radio Podcast:

  • Jon White

    Derek, I really enjoyed listening to your car purchasing story. I have a similar story in purchasing real estate; being unprepared, not running the numbers, and making an emotional purchase without really negotiating the price. It just goes to show that, even if you are a “Financial guy”, making purchases based on emotion can cost you thousands of dollars. Thanks for sharing!

    Jon White

  • 139 Past Due – Stress Testing Your Finances — Past Due: Radio

    […] Episode 136 – Do-Overs: Buying A Car – Check out why repairing a vehicle could save you thousands versus buying a new one […]

  • 143 Past Due – What Rising Interest Rates Mean To You — Past Due: Radio

    […] Episode 135 – Do-Overs: Buying A Car – My car-buying decision cost me a fortune…in interest and depreciation. We don’t advocate borrowing on assets going down in value; I experienced it firsthand. […]

Previous post:

Next post:

Derek Sisterhen on Twitter Derek Sisterhen on Facebook Derek Sisterhen on LinkedIn Past Due: Radio YouTube Email us