: Alternatively, keep your monthly car payment under 15% of your monthly income.
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 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. : Alternatively, keep your monthly car payment under
: 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
Experts recommend several formulas to determine what you can realistically afford: