Buying My First Used Car Apr 2026

: Put down 20% , finance for no more than 3 years , and keep total car expenses under 8% of your monthly income.

Experts recommend several formulas to determine what you can realistically afford: buying my first used car

: Alternatively, keep your monthly car payment under 15% of your monthly income. : Put down 20% , finance for no

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 Below are the key steps and "rules" to

: Budget for more than just the purchase price. Factor in taxes, registration fees, insurance, gas, and maintenance .

Never skip a thorough vetting process to avoid "buying someone else's problem." Buying a Used Car From a Dealer - FTC Consumer Advice

: 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