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NerdWallet's Smart Money Podcast
Car Leasing vs. Buying: Hidden Fees, Dealer Agendas, and When to Buy Your Leased Car
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- [00:01]
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- [00:56]
A
Every couple of months, I get an itch to buy a new car. And Sean, seeing as I'm about to pay off my car note that I've had for, I don't know, maybe four years now, I want a new car.
- [01:07]
B
Elizabeth, I'm going to say paying off your car is the best reason to not get a new car because you'll have no car payment. And how nice is that?
- [01:14]
A
Honestly, I've been daydreaming about it, so we'll see where I land.
- [01:16]
B
Well, this episode we're going to talk about what happens if you have a never ending car payment through leasing. Welcome to NerdWallet's Smart Money podcast where you send us your money questions and we answer them with the help of our genius nerds. I'm Sean Pyles.
- [01:32]
A
And I'm Elizabeth Ayola. Now, Sean, I want you. I need some motivation from you. I need you to tell me or give me some reasons why I should not buy a new car at the beginning of next year.
- [01:43]
B
I have so many reasons for you, Elizabeth. First of all, how much is your car payment?
- [01:47]
A
I'm paying extra payments. So with the extra payments, it's about $450. Without the extra payment, about 350.
- [01:54]
B
Okay. That's a lot of money each month that you could put towards so many things. I'm sure there's something in your house that your son has broken. I'm sure there was something on your blind Zara.com that you want to buy. I'm sure there's a nice trip that you have in mind that you'd like to go ziplining on. There's so many things that you could do with $450 each month. And think about how this is going to add up month after month. In a little while, you'll have thousands of dollars by not having a car
- [02:18]
A
payment Now, I think that you're selling me on the thousands of dollars for fun money, not for saving. Of course I like saving, but the fun money. I don't know if I told you, but my itch really is coming from. I have been driving the car for a while. This was my first big girl car. And when I say that, I mean I was driving a hoopdy of the hoopdies before this one. And when I drove on the highway, the car used to shake, like if I drove.
- [02:40]
B
Oh, yeah, I've had a car like that before. It feels very scary.
- [02:43]
A
Yeah, it does. So then I got a letter in the mail about a recall and some kind of defect with the car. And I was like, well, maybe it's time to get a new one. And I got my first finance car, which is this one. Ayo has grown up in this car, my kid, and he has. There's gum, there's melted crayons. He took a rock and scratched the back of my trunk the other day. So my poor baby is really, really beat up. So I don't know. I don't know.
- [03:09]
B
Your poor baby being your car, not your son.
- [03:13]
A
Exactly.
- [03:14]
B
Well, hey, here's an idea. I don't know if they have this for kids, but I have a little hammock in my car for my dog so that she doesn't shed all over the inside. Maybe there's something like some plastic wrap you can do for wherever he's sitting so he's not going to be able to tear up the inside so much.
- [03:27]
A
That's a good point. When he gets back from school, he is tasked with picking up all the popcorn Dorito packets, folded paper from the back of my car. Sean, what was your first car? And do you have an itch to buy a new car?
- [03:40]
B
My very first car was a 1993 Honda Civic hatchback that we called Speed Racer. And she was a piece of junk. Like, the front fender was gray. The rest of the car was hot red. Oh, the windows were manual and they were off their track, so when you would crank them up, they would turn into the car. So you had to, like, pull them up as you were cranking them up. The muffler was rusted out and Would drag on the road behind us. It didn't have a CD player, so we just used the radio. We had a little like radio plug in for my ipod that I thought was the peak of technology at the time. And yeah, frankly, it was a piece of crap. There was one time where I was driving and I was in this line of traffic and I was like putting my car in park and in drive a lot and the shifting knob just came apart into several different pieces. And so it was just a spike that I had to push into. It was just the worst car. It got me all over the country for a little while there. I had it in high school and then into college when I was in Vermont. But I was really glad to say bye to it. And I think because I had such a crappy car, that's why I went in the other end and got myself a much nicer ride when I finally bought one six years ago almost. And I paid off my car last year or the year before, I forget which. And I have no desire to buy a new car because I love not having a car.
- [04:54]
A
So you're driving it into the ground?
- [04:56]
B
Absolutely. I mean, I'm only at 70 something thousand miles on this car and I want to take it to at least 200.
- [05:01]
A
Okay, let's dive into the listener question for today and it comes from Patty. Hello, nerds. I have a question about car leasing. I had never considered a lease. I like to live without a monthly car payment if possible. I've needed to take out auto loans, but I paid them off and then enjoyed many years of driving with a paid off car. I was in the market for a replacement car during the pandemic and I was interested in going all electric. So I bought a new all electric car from the dealer. The sales rep kept trying to explain to me that the lease option made more sense than the purchase option because when the lease term ended, I could apply all my lease payments towards the purchase of the car and if I wanted to buy it. Is he correct? What are his motivations in pushing the lease over the purchase? I know this is a hard question to tackle because there are so many different lease programs. This one was through Volvo Financial Services. Spoiler. I did try the lease because the monthly payment was so much lower than the purchase for the same car. It was at a time in my life when that was helpful. Paying for kids college in brackets. My second lease term is almost up and I now have three options to either lease again, buy the car or return the car and lose what I've paid in. I will not be picking option three. Thanks, Pattie.
- [06:19]
B
To help us answer Patty's question, we're joined this episode by autos nerd Shannon Bradley. Welcome back to Smart Money. Shannon.
- [06:26]
C
Thank you. It's always good to be back.
- [06:27]
B
Let's just lay out some terms really quickly here. Can you talk us through what a car lease is and how it works?
- [06:33]
C
You can think of a car lease, kind of like a long term car rental. The lease enables you to drive the car for a certain period of time and number of miles, typically about two to four years and 10 to 15,000 miles a year. A car lease payment is usually lower than what you would find with a car loan, but that difference is because you're expected to return the car. So really you're paying to drive the car. You're paying for depreciation, which is the loss in value of the car during the time that you have it. And, you know, with all of that said, you know, you can opt to keep a leased vehicle, which is something I think, you know, Patti indicated you would have to buy it for a predetermined price, which is called the residual value. And that residual value is set by the leasing company at the beginning of the lease. And it's just kind of an estimate of how much they think the car will be worth at the end of the lease. If you decide to buy it, you would have to pay either cash for the residual value if you had that, or you could finance the residual value with what's called a lease buyout loan.
- [07:45]
B
What if the actual value varies greatly from the determined residual value? When you go to set up your lease contract, is there any room for negotiation?
- [07:54]
C
Usually there's not a lot. Back during the pandemic, there was a situation where cars actually, at the end of the lease, which was very unusual, they were worth more than the residual value, which meant there was equity in there that people who at least the car could take advantage of back during that time. Obviously there was like no negotiation. People just wanted to buy the car and some of them were reselling them to actually make a profit on it.
- [08:23]
B
It's nice to have an upper hand over a car dealership if at all possible.
- [08:28]
C
Yeah. So we're kind of back to a period of time where the residual value is closer to the actual value of the car. And there's really not a reason, you know, for a dealer to negotiate because basically they'd like to get that car back and resell it.
- [08:43]
A
Shannon, something stood out to me that you said initially and it's like leasing a car is like a long rental and that sounds like a nightmare. I have gone back and forth between leasing and financing, but I hate renting cars. But with that said, what are the primary differences between buying and leasing a car? And when I say buying, I mean financing.
- [09:03]
C
Well, the biggest difference with leasing is ownership. You know, when you buy a car or, you know, finance it, whether you pay cash or take out a loan, you're building equity and, you know, eventually, hopefully you have a paid off car and no monthly payments, which, you know, we've, several of us have mentioned already today, we like no monthly payments. You know, so when you're leasing, your monthly payments are lower, but you aren't building equity. You know, once that lease ends, you know, unless you choose to buy the car, you don't own anything. So, you know, that's really, I think, the biggest difference between buying and leasing. And then, you know, one other difference, and this is just a minor detail, but if you're new to leasing and you hear the term money factor when leasing, that's basically the interest rate expressed as a decimal rather than an annual percentage rate. You can take that money factor, multiply it by 2400 to convert it to, you know, an approximate APR.
- [10:07]
B
That makes me think about other fees that people might encounter when they're buying or leasing. What differences might there be between those, the fees when people are buying and leasing?
- [10:16]
C
Leasing can have more fees. I already mentioned the mileage limits. If you take out a lease, you really want to know how many miles a year that you typically drive before you sign a lease agreement? You could have an excessive mileage fee, and that usually runs about 12 to 30 cents per mile, which may not sound like a lot, but at 30 cents a mile, for every 1,000 miles you go over, that would be about $300. And then you have excessive wear and tear fees. So if you, you know, opt to turn the car back in, you could have a fee if it has damage beyond, you know, traditional spills or scuffs inside the car.
- [10:58]
B
Like if your son has melted some.
- [11:00]
C
Exactly. I was thinking, yeah, thinking that earlier when Elizabeth said that when my kids were young, I. The first time that I purchased a new car, actually, I leased it. The first time I leased a car, my son, the very first day, spilled a milkshake right in the floorboard. So, of course, yes, so I was thinking that when you said that. But there are other fees that you would find, you could find with a lease that you wouldn't typically have with an Auto loan. You know, leases tend to. If you. If you decide you need to end the lease early for some reason, you could have a penalty fee there. And most auto lenders don't have prepayment penalties anymore. So, you know, you don't typically have those with an auto loan if you decide to pay it off early. And then another fee that you may have is what's called a disposition fee. If you decide to turn the car back in, then, you know, the dealer may charge you a fee for, you know, prepping the car and getting it ready to resell it again.
- [12:04]
A
This might be premature, but Shannon, as you're talking and Shawn, as you're talking, I'm not buying another car. No, I'm not. I'm gonna wait until my car.
- [12:12]
B
You're leasing. That's for sure too.
- [12:13]
A
No, I'm gonna wait until aisle is 16. I'm not even gonna do that to myself and destroy my brand new, beautiful baby. So we're gonna drive this.
- [12:20]
B
I love this teenager. Good call, Elizabeth.
- [12:23]
A
Speaking of buying a new car, my sister's currently in the market for a new car, and she is complaining about how excited expensive the cars are at the moment. That's another reason I'm not buying a new car. So buying a new car has become expensive over the past few years. You all know that tariffs and also the impact of COVID 19 on supply chains are two factors contributing to those higher prices. Shannon, can you expand on why these cars have become so expensive?
- [12:49]
C
Yes, I can. And I'll tell you right now, the average, average new car price is still right around $50,000.
- [12:57]
B
So how much money for a depreciation creating asset?
- [13:01]
C
Yeah, that gives some perspective on how high car prices are. And a lot of that does come from during and after COVID 19. You know, we had supply chain disruptions and inventory shortages. And then in 2024, you know, prices seem to be coming down a little bit. But then last year, we threw tariffs back into the mix. And so what you had were some or you still have some car manufacturers that are passing those higher tariff costs that they're experiencing through to consumers. So, you know, I think that has also contributed to keeping car prices high. We can't overlook the fact that, you know, the higher car prices aren't all a result of outside factors. You know, you just. You look at new cars today, they have a lot more advanced technology and safety features which just, you know, keep that price higher.
- [13:54]
A
Well, have you seen the cost of leasing go up too, Shannon?
- [13:57]
C
Yes, it has, and it's really for the same reasons that car prices cost more to take out when you take out a loan. Those same supply chain issues and inventory shortages that caused the higher vehicle prices overall contributed to an increase in leasing costs because that lease payment is based on the car's residual value. So that translates into a higher lease payment. And just like taking out an auto loan, the cost of leasing hasn't returned to pre Covid prices because it's still, you know, based on the value of the vehicle and you know, higher interest rates. You can find some lease specials today, I double checked yesterday. And you know, you can find some lease payments around $250 to $3 monthly. But you know, those usually require a down payment of about $3,000 or more. And you know, those are really usually reserved more for people with excellent credit.
- [15:00]
B
The down payment on a lease is, has always been something that I can't swallow. It just seems like you're really throwing money away. I'm paying a cap of money, a surcharge essentially to be able to rent this car for a couple of years and then I don't see any of that money back. And I know that it's going toward making the monthly payment more affordable, or I assume that that's the case, but I just really have a hard time with that.
- [15:22]
C
Auto experts actually recommend not putting a down payment on a lease car because something like you said, if something happened, you wrecked the vehicle, or as you said, you know, you turn it back in, that money's really just gone.
- [15:35]
B
You're not getting much for it. Right. When you're buying a car, your down payment is going into building that equity you mentioned before and again, hopefully having a lower monthly payment and you're just not really getting the same trade off with a lease. But that said, there is still a use case for leasing and sometimes it can be a better option for people. So can you lay that out for us?
- [15:54]
C
Yes, I can. There are, there are benefits and a lot of it really just depends on, you know, your financial situation. Situation. You know, we mentioned lower monthly payments. Maybe you just really need a lower monthly payment. You know, to illustrate the difference in payments, I have, you know, some real numbers from Experian, the credit reporting agency. They put out a quarterly state of the automotive finance market report. And late last year, their average lease payment for a new car was around $596 and compared to average new car loan payment at 748.
- [16:32]
B
So, you know, still so much money for both of those.
- [16:34]
C
Yeah, yeah. It's still a lot for both. But of course, that's an average. You know, that's what you have to keep in mind. You, you know, you look at a lot of people are still leasing or buying. Actually, the majority of people are still are leasing and buying large vehicles, you know, the vehicles with advanced technology. So that really pushes that average payment price up. But, you know, you can find, like I said, lease specials with monthly payments for less than $300. But again, that's typically for people with excellent credit, the lease specials. I will say this. Right now, it seems like more automakers are motivated to offer some great lease specials because during COVID the interest in leasing for consumers really dropped off. And at that time, car manufacturers, you know, they pulled back on lease incentives so that, you know, the interest, like I said, just really tanked. Auto manufacturers, they're trying to rebuild that leasing business. So to do that, they're making some attractive lease specials. And you can usually find those, you know, on the auto manufacturer's website.
- [17:45]
B
Leasing can also be a lifestyle choice, too. I'm thinking here about one of my sisters who's gone through three cars in about the past five, six years or so. Oh, wow. Going through two cars or going through a car about every two years she was buying these cars is a really expensive financial decision. And so she most recently has actually made the decision to lease because she just knows, hey, I'm someone who likes a new car. Every couple years, she's getting more into electric vehicles, which have technology that's increasing and improving really rapidly. And so if you are that type of person who wants a new car on a regular basis, especially an electric vehicle, leasing can just be a better option for you there.
- [18:23]
A
Yeah, I have a friend in the same situation. I met her maybe three years ago, and I've maybe seen her with three different cars. Wow. So she, yeah, she likes driving new cars and leasing works for her and her budget, and she doesn't want to buy. So I agree with you, Sean.
- [18:36]
C
Yeah, a lot of people do that. And it's, you know, too, they like the newest technology. So they, you know, they don't mind the fact that they're not building equity. They want to, you know, they want to be able to try the newest model every few years, you know, that latest technology. And then there are, you know, a group of people that, you know, maybe they just, you know, want to try a particular type of car before they actually commit to it long term with a loan. You know, maybe they go into it knowing that, you know, they're going to lease and drive for a few years and that if they like that car, they know that they can go ahead and take out a loan later and purchase it.
- [19:16]
B
Yeah, I'm glad that works for them. I am not that type of car owner. My 2016 car still has physical buttons and a CD player. Not a touch screen in sight on my car. And I love it.
- [19:27]
A
That is fun. All right, let's get into Patti's question. She had a couple questions for us. So Patti wants to know if the lease payments applied, go towards the purchase, since that's what the salesperson told her. Was the salesperson telling the truth, Shannon?
- [19:43]
C
No.
- [19:45]
A
Sorry, Patty. Sorry.
- [19:49]
C
So I just. I'll state that very clearly. No, you know, I assume what he may have been trying to imply, that if she decided to buy the car, her payments would have already covered the car's depreciation. But you could say the same for an auto loan. You know, I think the way he worded that is misleading.
- [20:11]
B
Made it sound like it was rent to own, right? Yeah, wasn't really the case.
- [20:14]
C
Exactly. It's like you don't just transfer credit for your lease payments over to a new car loan. The lease and the loan are two different things. And that's kind of the way he worded it. That's what it kind of sounds like. For example, you know how that would work when I say it's two different things. Let's say you take out, you know, a 36 month lease for a $50,000 car loan. I'm using just rounded numbers here. This is very simplified. So, you know, you would have an estimated residual value of around 30,000. So, you know, you're paying roughly 20,000 in depreciation over that three years. So let's say using, you know, building on that example, your lease payment is 700amonth, and you had. So you would have about 550 of that going toward the 20,000 in depreciation. The rest would cover like interest and sales tax. So at the end of the lease, you decide to buy the car and you get a lease buyout loan to cover that 30,000 residual value. That's a separate transaction. You know, it's like kind of like buying a used car from yourself. But that $700 payment you paid on the lease in no way reduces the $30,000 you now have to pay to buy the car.
- [21:32]
A
Sounds pretty expensive. Since we're doing some math here, Shannon, mathematically, is there a difference between the total cost of leasing than buying versus just financing the car from day one?
- [21:43]
C
Yes. There can be and usually there is, you know, when you finance from the start, you know, think about that. You're paying the full purchase price over time, including any fees or interest and you know, on a declining balance. So that's it, you know, that's pretty cut and dried. You know, if you lease and then buy, if you think of, you know, you're paying financing charges during the lease, then you're paying financing charges again during the car loan and then you, you know, you probably are going to have lease specific fees that wouldn't apply if you just purchased up front. So, you know, usually it does cost more to lease and then buy, especially if you're doing it perpetually compared to just financing from day one.
- [22:29]
B
Okay, we're going to take a quick break and after that we'll be back with more about leasing versus Buy.
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A
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Okay, we are back, so let's continue this conversation. Shannon Patty is essentially thinking about buying a used car because that's what they would be getting if they buy the car they have been leasing at the end of the term. And aren't used car interest rates typically higher than that of new cars? You know, to me, that sounds like another way that buying after leasing may turn out to be more expensive than buying the car outright or buying a new car. Now, new cars may also sometimes, sometimes come with incentives like 0 APR or maybe even cash back. Although you're probably a lot less likely to get that with a lease, correct?
- [25:04]
C
Yes. But one thing that I want to say, you know, used car rates are higher than new car rates, but most lenders don't actually use their used car rate for a person who's buying a leased car. Most of them have a specific lease buyout loan. We do review a number of lenders here at NerdWallet that offer lease buyout loans. So, you know, I checked yesterday, and the lowest rate right now for excellent credit for a lease buyout loan is around 4.5%. And that is slightly below what a, you know, a typical used car rate would be. You know, if you're comparing the difference between used car rates and lease buyout loan rates, you know, the lease buyout loan, yeah, it's, you know, going to be more than a new car rate, but less than most used car interest rates. And yes, you probably would be skipping some new car incentives, but, you know, you have to think about the fact that you are financing a significantly smaller amount. So that's still often the cheaper approach. You know, you just, you want to look at the total costs for both options, not just the monthly payment, before deciding.
- [26:19]
B
Okay, I'm also wondering here what the dealer might be getting out of this, because we know that dealers have their own agendas. So could there be any sort of hidden motivations about pushing the lease over a purchase from the dealer's perspective? What are your thoughts there, Shannon?
- [26:34]
C
Yes, there can be several Dealers do like to lease cars because that brings the customer back into the dealership every few years for repeat business? You know, it's not like you, Sean, that have your car and you don't see the dealer.
- [26:47]
B
They want me back in the dealer. They keep emailing me, sending you letters.
- [26:51]
A
They call me up once a month.
- [26:53]
C
They call me, too.
- [26:54]
A
I said, no, I don't want no more payments. No, no, no, no, no.
- [26:57]
B
It's flattering because they, they use this flattering language like you are extremely well qualified for another car and so. Sure I am, but you will not be getting my money.
- [27:06]
C
But the other thing is the return lease cars gives the dealer supply of used cars to sell, so they profit off of the car twice. So yes, you know, the automakers, they do a lot of times instead of eyes dealers to push leasing, you know, for those very reasons.
- [27:23]
A
Patty has three choices, as we mentioned earlier. Leasing again, buying the car or returning the car and then losing what they've paid in. Can you talk through those three options for us?
- [27:35]
C
Let's look at Patty simply turning in the car and walking away. First, you know, as we've said, she would lose what she's paid in. She would have no equity to put toward purchasing another car. She could lease again and that would keep her payments lower and get her into a new vehicle. But that would also continue the cycle of never building equity and always having a car payment. And you know, that's the reason why continuous leasing can be the most expensive option of the three for the long term. But then again, her third option, she could buy. And if she decides to do that, you know, she should compare the buyout price with the car's current market value. The buyout price is lower than the market value are close. That could be, you know, a strong argument for buying the car. You know, if she's anticipating any extra fees or penalties at the end of the lease. Buying the car for that original buyout price could also be a way to help cut those losses because, you know, then she wouldn't owe those to the dealership.
- [28:39]
B
So it really seems like the buyout is the most cost effective option.
- [28:42]
C
Yes, it would be. You know, if she likes the car, it's dependable. The buyout price is reasonable. You know, I would say buying the car would be the most cost effective. And you know, eventually it would allow her to enjoy years without a car payment which she mentions she values. And I want to go back to, you know, what, what she originally said about wanting to go all electric because I don't want to make it sound like she shouldn't have leased in the beginning. That was actually really a smart move on her part if she was new to looking for and driving an EV. You know, with the high price tag of EVs, that gave her a chance to see if she liked driving an EV before making a long term commitment.
- [29:28]
A
Where does the cost, Shannon of auto insurance come in here. I think whether you're leasing or buying, one should factor insurance into their car budget also. So is auto insurance usually more expensive when you're leasing versus buying a car?
- [29:42]
C
Yes. You know, whether you lease or you get an auto loan, you're always going to be required to carry car insurance to cover that asset or the car for the leasing company or lender. But leasing companies tend to have stricter requirements to protect themselves. They may require lower deductibles, they may require higher liability coverage than a lender, or even that your state requires, so your insurance costs can be higher. One thing I do want to say too, though, the total cost of lease. If we're looking at the total cost of leasing a car, there is one area where you could reduce expenses, and that's in maintenance, because often routine maintenance like oil changes, is included in a lease agreement.
- [30:26]
B
So if someone still isn't sure if leasing or buying is right for them, what main factor should they be weighing on either side?
- [30:33]
C
Well, first consider your driving habits. You know, do you drive long distances that would put you over that mileage limit, as we've mentioned here several times. Do you have kids or dogs that might destroy the interior of your car? You know, if that's the case, leasing may not be for you. And then think about your financial needs and priorities. You know, are you able and willing to make a higher monthly car payment in return for eventual ownership and a break in car payments? Or are you most focused on your financial situation right now, which could mean leasing is the only way to get a car that you need to get to work at a payment that you can afford. And then the final thing would be your vehicle goals. We've kind of touched upon that some people just like driving a new car every few years. They want to try out a certain type of car before buying it. You know, leasing can be an easy way to do that. In fact, as I said, you know, we recommend consumers, you know, that are new to EVs lease, it's a good idea to lease them before buying them since it can be a total lifestyle change.
- [31:42]
A
We have had a long, lengthy discussion about buying versus leasing. Shannon, if you were Patty, what would you choose? What option would you choose?
- [31:50]
C
If I really liked the car, I'd get a lease buyout loan, and I'd keep it, you know, because I would already know how it drives, if I liked how it drives, whether it's been maintained well. And, you know, really, as I keep saying, I like not having a car payment.
- [32:07]
B
Yeah, I'm in the same boat as you, Shannon. I want to get rid of my car payment as quickly as possible. So I'd probably just.
- [32:12]
C
Have either of you ever leased Shawn or Elizabeth?
- [32:15]
A
I have not, but I did consider it. But every time I go back to the points of, like you said, it's like eternally renting a car. I'm like, I don't know if this makes much financial sense for me, if I can justify paying whatever the payment is, 500 to $800 a month for years on a car that I'm not gonna own in the end. And even if I was a little on the fence based on this conversation, I will not be leasing a car. I also will not be buying a new car, and I will be using that extra money to do all the things that Shawn listed in the beginning,
- [32:45]
B
like buff out the scratches that your son put into your car.
- [32:49]
A
Listen, I'm not gonna lie. I'm one of those people who just jerks my car around. I don't know half of what the lights on the car mean, so it took me a long time to even notice the scratch was on the car. So clearly it doesn't bother me that much. So I probably won't be buffing the car. No.
- [33:03]
B
Well, Shannon, thank you so much for coming on and talking about all this with us.
- [33:06]
C
Well, thank you for having me. It's always fun meeting with you, too.
- [33:09]
B
Okay. And that's all we have for this episode. Shannon, will you please read us out?
- [33:13]
C
Remember, listener, that we're here to answer your many questions. So turn to the nerds and call or text us your questions at 901-730-6373. That's 901730, nerd. You can also email us@podcasterdwallet.com I'm going
- [33:33]
A
to tell you this very quickly because somebody in Sean's house wants a walk. We want you to join us next time to hear about using AI Versus a real person. For financial advice, follow Smart Money on your favorite podcast app. That includes Spotify, Apple Podcasts, and iHeartRadio to automatically download new episodes.
- [33:52]
B
And for those who are only listening and not watching, my dog Pepper made an appearance and started licking my face because it's walk time here. All right, here's our brief disclaimer. Because I have a dog to go walk, we are not your financial or investment advisors. This nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.
- [34:10]
A
This episode was produced by our fabulous team that includes Tess Viglund, Hilary Georgie helped with editing. Nick Krisimi and Eve Krogman helm our audio and video production. And a big thank you to NerdWallet's editors for all of their help.
- [34:24]
B
And with all that said, until next time, turn to the nerds.