Steps To Buying Your First Used Car

Subtract all costs from your income.

Steps to buying your first used car. Don t get swept away by the excitement of getting your first car. If you re satisfied with the above then the next stage of our first car buying guide is to take the car for a test drive. Your monthly car loan payment should be less than the resulting figure. If you re buying used make sure you verify reports from independent sources about the vehicle s history from places like carfax and don t buy a car you can t test drive. Otherwise hop in and take it for a drive.

If the owner or dealer doesn t want you to then walk away. Take the vehicle for a pre purchase inspection. And despite credit given to karl benz for the automobile s invention we ve not been able to find its first time. And unlike a new car or leased car that comes with complimentary maintenance the responsibility of servicing a used car will be on you. Keeping your budget top of mind is one of the most important tips for how to buy a car within your means.

Here are some important things to keep in mind as you start shopping for your first car. The title in your name. During a pre purchase inspection a mechanic will give the used vehicle a detailed examination to determine the cosmetic mechanical and safety conditions of the vehicle. Planning ahead can help make the process easier and help ensure you end up with the best car for you. Interest rates favor large down payments and new cars over used cars but regardless your budget will be the primary driver in what you can buy.

Car buying began in parallel with the first car sold. If you re buying from a private seller negotiating is usually straightforward. Even if you re buying online more on that below there should be a risk free period of driving. If you are buying a used car from a private seller you will almost always have to wait in line at the dmv and pay several hundred dollars to get the vehicle transferred and registered. Before you register your car you will need.

A completed vehicle safety inspection. Research online what the current wholesale price aka trade in price is for the car based on its condition mileage. Be sure the engine is cold before you begin because an engine that has been warmed could be hiding problems. Down payment financing you will need to determine how much cash you can put down when buying your first car and how much you can afford on a monthly basis if you plan to get a loan. Buying your first car can be exciting but there s a lot to manage.