November 2, 2023
7 Steps for Buying a Used Car
Faith & Finance with Rob West
Inflation has jacked up the price of just about everything these past three years, but perhaps nothing so much as used cars. We’ll take a look at current prices and give you 7 steps for making a wise used car purchase, today on Faith and Finance.
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Show Notes
According to the car shopping site iSeeCars.com, used car prices have jumped 41% over the past several years! Here are some tips to take the edge off of that sticker shock.
OUR 7 TIPS FOR BUYING A USED CAR: 1. Establish Your Budget: Determine how much you can afford, whether paying in cash or financing, ensuring the payments fit within your budget. Aim for a down payment of 10-20% and keep the loan term as short as possible, ideally three years.2. Choose the Right Make and Model: Consider your family size, cargo space needs, safety, and vehicle reliability, and be open to having two or three options.3. Use or to estimate the value of your chosen vehicles. Look for fairly priced vehicles on , Craigslist, , and , creating a list of potential options.
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