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Episode-2806- Expert Council Q&A for 1-15-21 — 2 Comments

  1. Re vehicle shopping: Also look around for, lack of a better term “car flippers”, kinda like house flippers but with vehicles. They buy vehicles coming off lease or, even better, insurance salvage vehicles. After an accident, insurance companies can deme a vehicle a total write-off for the weirdest reasons. A good example is mynextcar.com. My friends and I have purchased 5 vehicles from this place and 100% happy with them. Note that these guys are in So Cal, so the vehicles are indicative of market demand, i.e. very few trucks. Find someone in your local area and they are likely to have more of a truck focus.

    As an example, my current car is from these guys. It is a 2016 Lexus RC300, purchased in 2016 with 4600mi on it. It was in a minor accident while still owned by the dealer and declared a total by insurance. After repairs, done by mynextcar, I purchased it for about 60% of the going price. When it hit 5000mi, I took it in for its first oil change (free per Lexus if purchased new), they did it for free. The dealer also replaced a bad shock for free under warranty a year later. Lexus service is great, but that’s another story.

    Net-net, take a look at flippers. You can get some great deals. If they don’t have what you want, give them a deposit and ask them to keep an eye out at insurance auctions. And always have your mechanic check out the vehicle before purchase.

    Can’t find a flipper near you? Contact mynextcar and work with them. A buddy in Dallas did and bought a BMW X5. They will ship to you. Just be sure to have a mechanic look it it before shipping.

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