Steps To Buying Your First Used Car

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.

Steps to buying your first used car. 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. So set a budget whether it s 10 000 20 000 or 30 000. Your monthly car loan payment should be less than the resulting figure. A completed emissions test. If the owner or dealer doesn t want you to then walk away.

Research online what the current wholesale price aka trade in price is for the car based on its condition mileage. And unlike a new car or leased car that comes with complimentary maintenance the responsibility of servicing a used car will be on you. 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. A completed vehicle safety inspection. Car buying began in parallel with the first car sold.

If you re buying from a private seller negotiating is usually straightforward. First a little history. 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. Buying your first car can be exciting but there s a lot to manage.

And despite credit given to karl benz for the automobile s invention we ve not been able to find its first time. Planning ahead can help make the process easier and help ensure you end up with the best car for you. Otherwise hop in and take it for a drive. Don t get swept away by the excitement of getting your first car. Be sure the engine is cold before you begin because an engine that has been warmed could be hiding problems.

Take the vehicle for a pre purchase inspection. 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. Subtract all costs from your income. 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.