Buying your first used car can be a complex process involving financial planning, technical inspections, and negotiation. Below are the key steps and "rules" to follow, as outlined by experts and reputable consumer resources. 1. Establish Your Budget
: Budget for more than just the purchase price. Factor in taxes, registration fees, insurance, gas, and maintenance . buying my first used car
Experts recommend several formulas to determine what you can realistically afford: Buying your first used car can be a
: Be aware of the 30-60-90 rule , which highlights major maintenance needs at 30,000, 60,000, and 90,000 miles. 2. Research and Inspection buying my first used car
: Put down 20% , finance for no more than 3 years , and keep total car expenses under 8% of your monthly income.