What I Learned After Selling My Used Car For The Most Money

I bought a used 2014 toyota prius for about $9,000, I ended up selling for about $8,000 but I paid a fee of $500, so I only pocketed $7,500 cash, I lost $1500, plus more because I make a lot of dumb mistakes.

The reason I’m making this video is simple: to tell you my mistakes so you don’t make the same mistakes. This way you can buy for at a good price and sell for a good price also.

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Story: I didn’t buy this car to resell, I bought it for personal use, but when I had bought it as if I was searching for a great deal, I would have been a lot better off.

Ignore savings (hybrid car, save on gas) and focus on Repairability Savings

When I bought the Prius with less than 100k miles, I knew I was going to save a bunch of money on gas

I spent about $30 per month literally.

And when gas prices went up, I was not hurting that much at all

However:

When something broke, like the brake regenerative system, that was like 2k

Fixing the bearings was going to be like $600 or something.

Everything was more expensive on that hybrid vehicle

Looking back:

I would have bought a Toyota Corolla, maybe spend a few extra bucks on gas but barely anything, because I barely drove.

And when things broke, it was going to be a lot easier to repair and cheaper.

I would have also bought a 2017-2018 model, that way I could have brought it with me

Ignore Brands and Focus on Quality

Micheline tires

Eventually I got a flat tire and I knew it was time to switch them

I went and spent a bunch of money on 4 brand new tires like a dummy

However my friend

Bought the same tires used for a fraction of the price

Their something about the marketing and thinking long term, that worked against me

I could have bought used tires, that would have worked just fine but a few years because I barely drove anyways

Advice: buy used tires for a good price that have a good amout of life in them, do the penny test

Buy Below Market Value

I bought in rush, I didn’t have a car, I barely knew anyone and I needed it

I was so worried about not getting the deal, that when they decline to negotiate, I offered full price

If you are not willing to walk away from the deal, then you are at a disadvantage.

I would have looked to buy a car for at least 10-20% discount of kelly blue book trading value

That would have meant a lot of nos

But I was also offering cash.

And I could have bought something that look nasty but could be washed.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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