Budgeting Tips for Buying a Used Car

Budgeting Tips for Buying a Used Car


If buying a used car will be your first formal vehicle purchase, you’ll need to learn some budgeting tips. Even Milford, Manchester, and Middletown, Connecticut, veteran drivers may gain some extra cash to spend on their next car by following these tips. So, take your first step toward a used car from KeyCars.com by reading this handy guide.


Budget

Consider Your Budget

Many shoppers may dive into buying a car without considering their budget. You want to enjoy your car for as long as you can, so purchasing one that’s out of your financial reach could be a rocky proposition.

Look at your budget and what you spend on housing, food, utilities, etc., and how much you make. Once you know how much you can realistically afford, figure out what you can comfortably buy. Remember to consider that you will be paying for insurance as well.

Embark on a Savings Spree

Unless you’ve already got a down payment set aside for a new set of wheels, you want to watch what you spend. Ordering your favorite coffee might be a treat, but couldn’t you make coffee at home? Same with eating out; how about packing a lunch and just going to your favorite restaurant on special occasions?

Give yourself some time, too, to save up for the down payment or a good chunk of the car you want. You could even set up a special bank account devoted to the save-for-your-used-car fund. Attempt to save for a new car at least a year ahead of time if possible.


List What You Need in Your Used Car

List What You Need in Your Used Car

Think about what you truly need in a car and what you would be using it for. Do you need a lot of space in the trunk for skis or sports equipment? Is your family growing at an exponential rate, which would require more seating? Will you be commuting daily to your job and need a reliable car?

All these factors dictate which rides may mesh with your lifestyle. Also, you’ll want to leave some room for the characteristics you really like…if they fit your budget. With a used car, many premium items may be more readily available to you. That panoramic moonroof may be a solid possibility.


Researching Vehicles Online

Start Researching

Now it’s time to start your car research. Your best bet will be looking online because you can find out about desirable brands and what they may cost. US News and World Report devote an entire site to all kinds of vehicles, their value, and how they rate amongst each other. You’ll get a lot of concrete information from Kelley Blue Book and Edmunds, too.

When you begin browsing our site, you’ll see our entire inventory of used cars including certified pre-owned vehicles. You can search by the make and model or by their specific features and characteristics. After making a quick list of your prospects, you’ll be able to visit us and see them in person.

Get Pre-Approved for a Loan

Before you’ve established the rides you’re considering or the one you plan to buy, apply for financing. You can get pre-approved by submitting an online application that goes to our financing center. This will speed up the entire process.


Schedule a Test Drive at KeyCars.com

Since you’ve now learned budgeting tips for buying a used vehicle, it’s a good time to investigate further and schedule your test drive. At KeyCars.com, we’re dedicated to helping drivers throughout Milford, Manchester, and Middletown find the used car they want. Come see us today!


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