Tips For Buying A Car On A Budget

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At some point in life, nearly everyone shops for a car. Buying a car is exciting, but it can also be a bit overwhelming. Although most people would love to buy a new car, used cars are way more affordable if you're shopping on a budget. Whether you’re buying a new or used vehicle, here are a few tips for making a Car Purchase.

Budget

Before you can even begin to shop around you must figure out how much you are willing or able to spend. Keep in mind the actual cost of the car is not the only thing to consider. One must also consider insurance prices, interest rates if applicable, possible maintenance or repair, and depending on the vehicle, gas consumption may need factored in.

Research

Knowing what you are getting is very important. Cars, especially used, have many variables. Cars.com has a guide for inspecting a vehicle which I recommend. They also have a variety of resources to help you know all you need to know, but if that sounds like a daunting task a certified pre-owned car might be the best option. Certified pre-owned vehicles typically have already been inspected, and found quality vehicles and have an extended warranty. This of course will cause a car to cost more but is great if stability is important, and it can save you from future headaches.

Where To Buy

Cars.com provides listings for vehicles sold by owner or by a dealer, each having their own pros and cons. Buying from an individual is generally a bit riskier in terms of getting what's advertised, however it could be much cheaper. Buying from a dealer gives the buyer more protection, but it comes at a price. Expect to pay extra in interest and more to get insurance on the vehicle. That being said if you do not have the required funds buying from a dealer might be the only way to go, through financing.

Don't Rush!

Most importantly, take your time and be sure you are making a smart purchase. Be sure to research the value of the vehicle to ensure it is a fair price. Try to get all history of the car, and if possible have a mechanic inspect the car for you. The more you know and the less surprises down the road, the better.

What is your best tip for making a car purchase?