Buying a Car Is Just Like Buying a House

When you go in search of that new pack of gum to buy, do you research the different brands, customer ratings and ingredients online first? Of course not! It’s a pack of gum. It’s a buck. Our time is too precious.

This makes a great deal of sense.

It stands to reason that as the price goes up the amount of time spent educating oneself should also increase, correct? As the kids say, “Obviously.”

So that brings us to today’s topic. We’re going to talk about the three ways that buying a car is just like buying a house. Then I’m going to hit you with the spoiler. Don’t skip to the end!

Right, let’s get started…

Time Spent Researching Cars vs. Time Spent Researching Houses

Just like buying a house: Low End

Often times the lower the value of the item, the more work it needs. But it should also come with a lower price tag.

When you need some wheels to get you from Point A to Point B and don’t have a lot of money to spend, what do you do? You buy a jalopie. A beater. A junker, clunker or bucket of bolts.

Odds are, you won’t spend nearly the amount of time on this purchase compared to buying a vintage Aston Martin.

The same holds true when buying a house. Most of the time, house hunters at the lower price levels will look at fewer homes and make their purchase faster than those in higher price tiers. It only stands to reason.

Car Investment vs. House Investment

Just like buying a house: Medium Tier

Middle class consumers are more likely buy a mid-size sedan along with a middle-tier house. After all, we’re all working our way on up!

So it’s not just time. It’s also money! Those looking to spend more money on their car are also more likely to spend more on their home.

Now, cars depreciate and homes appreciate but both are large purchases in the life of the consumer. And no, I’m not talking about leases, which are horrendous ways to finance a vehicle, I’m just referring to smart consumers looking to buy a medium priced car. These are the same folks who I’ll help buy their middle-tier home in St. Matthews or Jeffersontown.

These things work naturally the same way.

Car Criteria vs. House Criteria

Just like buying a house: High End

Now we’re talking! The life of the rich and famous, or at least those ready to put themselves in amazing debt.

When the price tag rises, so does the number of factors to consider. Satellite radio, heated leather seats and a navigation system please. Check.

Then my high-end home needs to come with high-end custom cabinets, a dedicated media room and an in-ground pool. Yes, I do believe it does.

Once the money starts flying, the number of criteria for both cars and houses goes through the roof!

Spoiler: Expert Assistance

Ok, now my spoiler. Ready?

In the case of purchasing your car, you’re basically on your own. Sure… the sales person at Tafel Motors dealership appears to be helpful, but all the while, they want you to buy their Mercedes and not drive down the street to Sam Swope BMW.

That’s where the buyer’s agent is different. We don’t care which house you buy. We just want you to be happy with your purchase. That way you’ll continue to use us in the future and recommend all your friends to us. (You will recommend all your friends to me, right?)

At the end of the day, the Realtor who helps you buy your home is actually on your side (or at least they should be, if they’re smart.)

But other than that… buying a car is just like buying a house.