Car Buying 101 Guide

A car can lose up to 25% of its value the moment you drive it off the lot. Buying a 2–3 year-old vehicle can often save you thousands. 3. Get Pre-Approved

For a financially conservative approach, put 20% down , finance for no more than 3 years , and keep the monthly payment under 8% of your income.

Use tools like CarEdge or Autotrader to see what others in your area are actually paying. car buying 101

Before you fall in love with a car, know what you can actually afford.

Dealers may lower your monthly payment by stretching the loan to 6 or 7 years, which actually costs you much more in interest over time. Always negotiate the total purchase price , not the monthly payment. 4. The Test Drive & Inspection A car can lose up to 25% of

Here is a guide to help you navigate the process like a pro. 1. Set a Realistic Budget

Visit your bank or a credit union first. A pre-approval gives you a baseline interest rate to compare against whatever the dealer offers. Dealers may lower your monthly payment by stretching

Never walk into a dealership without financing already in your pocket.