What do you drive, and what’s your payment?

Tom and I get asked a lot about what it takes to build a trusted brand. Our go-to strategy is always centered around a URL that is not only memorable but also exudes the potential for vintage equity, meaning when people hear it, they think our brand has been around for many years. Once we have that branding, we then look at what is the killer application or product/service we can build to solidify ourselves to be one of the top players in a specific niche, with the goal being we become the go-to brand - hence CarInspection.com.

“What do you drive, and what’s your payment?” is a great question to ask to see if you’re practicing financial discipline or not. Coming from the investment space, we’re often in shock when we see the increase in average monthly car payments these days. I think we can make the argument that a reliable car that is paid off is actually a great asset. I know financial media doesn’t always give kudos to this idea, but we do - and it’s part of why we’re building this app.

Here’s a great example of a sub-$10K cheap car that tends to be a great daily driver. This one has AWD, but does have an open recall when you take a look at the CARFAX. One other thing I like to look at when examining an older car’s carfax is to see if there have been any recent failed inspections. If there is one that just happened, don’t be afraid to ask the dealer for a copy of the failed report. 

If they don’t present one, I’d be a bit leery and would highly recommend a mechanic look over the car, check for codes that could have been wiped, etc. As would be expected, this car scores well in our ratings system:

Thanks for reading everybody!

-Paul