Secure financing from a bank or credit union before visiting a dealer to give yourself the power of a "cash buyer" during negotiations. 2. Research & Sourcing
Experts at Edmunds suggest capping car expenses (payment, insurance, fuel) at 10% of your take-home pay.
A popular finance guideline from Money Guy suggests putting 20% down, paying it off in 3 years, and keeping the payment under 8% of your gross income. process of buying a used car
Listed on Facebook Marketplace or Craigslist , these are often cheaper but offer no consumer protection.
Use the VIN to get a report from Carfax or AutoCheck . Check for accidents, salvage titles, or odometer rollbacks. Secure financing from a bank or credit union
Sites like Carvana or CarMax provide transparent pricing and delivery options. 3. Verification & History Never skip a background check on a vehicle.
Ensure the seller has the physical title on hand and that there are no outstanding liens (unpaid loans) on the car. 4. Physical Inspection & Test Drive A popular finance guideline from Money Guy suggests
Offer "Certified Pre-Owned" (CPO) vehicles, which include factory-backed warranties but cost more.