For many of us, buying a new car just doesn’t fit into our budget or lifestyle. However, buying a used car can seem a challenge. But it doesn’t have to be! If you’re planning to buy a used car, follow these steps to be sure you get the best deal.
Identify Your Budget. Before you begin looking for cars, you need to know what you can afford. That will help narrow down your options. It is recommended that you put down at least 20% and finance for no more than 4 years. If you can put down more than 20%, that’s even better!
Get Financing. If you can’t afford to buy a car outright (it’s okay, a lot of us can’t!), look into financing options. Get a few quotes from different lenders to see who will offer you the best rates. You might even be able to finance through your bank.
Know What You Want. What make and model of car do you want? What’s the most important feature in a car to you? Identify what you want most in your new (to you) car so you can use those specifications to narrow down your search. Continue reading