: Budget for more than just the purchase price. Factor in taxes, registration fees, insurance, gas, and maintenance .
: Alternatively, keep your monthly car payment under 15% of your monthly income. buying my first used car
Never skip a thorough vetting process to avoid "buying someone else's problem." Buying a Used Car From a Dealer - FTC Consumer Advice : Budget for more than just the purchase price
: Put down 20% , finance for no more than 3 years , and keep total car expenses under 8% of your monthly income. Never skip a thorough vetting process to avoid
Experts recommend several formulas to determine what you can realistically afford:
: 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 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