HerMoney with Jean Chatzky – Ep 506: The Smart Woman’s Guide to Cars: Buying, Leasing, and Not Getting Ripped Off (Dec 17, 2025)

Episode Overview

In this insightful episode, Jean Chatzky and guest Kaia Milstein, automotive educator and author of Mechanic Shop Femme’s Guide to Car Ownership, demystify the process of buying, leasing, and maintaining cars — with special focus on what women need to know to make confident, informed decisions and avoid common pitfalls. From electric vehicles vs. hybrids, to negotiating at the dealership and strategic insurance choices, this episode is a practical, empowering roadmap for women navigating one of their largest financial decisions.

Key Discussion Points and Insights

Kaia’s Journey and Mission in Automotive Education

• Kaia’s Backstory: Entered the automotive industry by accident, aged out of the foster system, seeking stability, and started as a Sears Auto Center employee (03:20).
• Gap in Knowledge: Saw firsthand how people—especially women—were scammed or confused by automotive jargon and opacity.
• Motivation: Realized her skill was explaining car issues plainly, leading to her blog “Mechanic Shop Femme” and, eventually, her new book.

“I took a lot of pride. And when you walked away from my desk, you understood what you were paying for and why, and you felt good about taking care of your car.”
— Kaia Milstein (04:28)

Electric Vehicles: Are They Right For You?

(08:29-15:01)

• Popularity & Satisfaction: 97% of EV owners would buy another EV.
• Lifestyle Fit:
  • Main concern: Where will you charge your car?
  • Home Charging: Ideal but not always possible (35% of Americans rent).
  • Public Charging: More expensive, slower, less convenient.
• Cost Considerations:
  • Upgrading home electric can add $2,000 or more (12:49).
  • Insurance may be slightly higher; check with your agent.
  • EVs require less maintenance (no oil changes, fewer fluids).
  • Battery replacement costs mostly covered by extensive warranties.

“Most people charge their car at home overnight, which frees them from having to make those pit stops...charging at home regularly alleviates most of the range anxiety.”
— Kaia Milstein (11:48)

Used vs. New Cars: What Makes Sense Now?

(15:01-18:03)

• Major Price Difference: Average used car ~$30k, new car ~$50k.
• Depreciation Matters: Some brands (Subaru) hold value better; luxury cars depreciate faster.
• Case by Case: Your ideal depends on budget, how long you’ll keep the car, preferred features, and tolerance for repairs.

“So for most people, it’s certainly a better option to purchase used.”
— Kaia Milstein (17:45)

How to Choose the Right Car for You

(18:03-22:04)

• Self-Assessment is Key: Make a list:
  • What do you need? (AWD, seating, cleaning, safety, etc.)
  • What did you love/hate about past cars?
  • What’s non-negotiable?
• Process: List > Research > Narrow choices by fit and budget.
• Test driving reveals preferences (e.g., steering “feel”).

“There are so many vehicles and options and safety features…this can just make you feel like you’re at this endless buffet, except everything’s very expensive and you have to choose between one or the other.”
— Kaia Milstein (18:28)

The Modern Car Buying & Negotiation Process

(22:04-24:36)

• Preparation is Power: Research everything beforehand. Know car value, going rates, desired features, and market prices.
• Negotiation Options: By email, in person, or play the “walk away and sleep on it” strategy.
• Women Make the Decisions: 85% of car buying decisions are made by women. Own your power!

“All of your questions should have already been answered. You should have done your research…this is your money, this is your purchase. And you have the right and opportunity to walk out of there at any given time.”
— Kaia Milstein (22:35)

Go-To Resources for Car Buying

(24:42-25:53)

• Consumer Reports: For objective data on safety, reliability, cost, and features.
• Edmunds: For reviews and comparisons.

The Importance of Test Drives and Inspections

(25:53-28:36)

• Test Drives Are Essential: Don’t buy sight-unseen, especially from rental services (rental vehicles often poorly maintained).
• Pre-purchase Inspection: Always get even a “certified” used car checked by a third-party mechanic to avoid costly surprises.

“A pre purchase inspection is absolutely the best tool in your toolkit when it comes to purchasing a used car. In most states, when you buy a used car, you’re buying it as is.”
— Kaia Milstein (26:57)

Rapid Fire Listener Q&A

(30:27-36:21)

Should I buy gap insurance?

• Yes, for most buyers (unless you have lots of liquid cash).
• Get it through your credit union for better rates.

How much down payment on a lease?

• Zero.
• Any money “down” is lost if car is totaled. Pay monthly, save the rest in case.

Where to finance a car: Dealer vs. Bank/Credit Union?

• Depends: Dealer promotions can be great for new cars, but credit unions often offer more flexibility and human touch during hard times.

Does mileage matter on used cars?

• Depends how much you drive. Higher miles = more issues for road warriors, less critical if you drive infrequently but want newer tech.

EV: Buy or Lease?

• Leasing has advantages: Tech evolves quickly, high depreciation, and leases let you upgrade more easily.

Practical Tips and Notable Quotes

Kaia’s #1 Car Shopping Tip

“My favorite tip is that you need to trust your gut. So often we walk into the automotive space…it’s like suddenly we’re not grown adults. We’re children. Trust yourself…Your gut is the biggest tool you have.”
— Kaia Milstein (36:36)

Notable Moments & Quotes

• On Underestimating Your Experience:
  “Suddenly we’re not grown adults…Trust yourself. You’ve dealt with people for your entire life…Your gut is the biggest tool you have.” (36:36)
• On Women as Decision Makers:
  “Women make 85% of all car buying decisions in the United States…this is your purchase.” (22:22)
• On Why EV Owners Are Loyal:
  “97% of people who actually own an electric vehicle…will buy another one.” (08:50)
• On Gap Insurance Woes:
  “It turns out that if I had gap insurance, that would have covered the difference between what I owed and what the car was worth.” (31:00)

Timestamps for Important Segments

• Kaia’s Automotive Story & Mission — 03:13-05:46
• Electric Car Considerations — 08:29-13:38
• Used vs. New Decisions — 15:01-18:03
• Making Your Car “Needs and Wants” List — 18:25-20:39
• Negotiation Tips & Buyer Power — 22:04-24:36
• Best Sources for Car Information — 24:42-25:53
• Importance of Inspections — 26:15-28:36
• Listener Q&A (Gap Insurance, Leasing, Financing, Mileage, Leasing EVs) — 30:27-36:21
• Kaia’s Top Advice: Trust Your Gut — 36:36

Conclusion

Kaia Milstein’s approach makes car buying approachable and confidence-boosting for women. She encourages research, careful self-assessment, and above all, trusting your instincts—reminding listeners that car decisions are not just about the best “deal,” but what actually meets your needs, values, and comfort. Jean Chatzky guides the discussion with warmth, humor, and candor, making this episode a must-listen for anyone ready to tackle the car market empowered and informed.