Buying A Vehicle

What you need to know

Your Budget

  • Your budget for buying a car is based on what you make monthly.
  • To find a vehicle in your price you should look at places like autotrader, carsmart, Ford, and GMC.
  • To determine a fair price for your vehicle you can look it up on Kelly Blue Book.

Haggling Tips and Insurance

  1. Make your first offer below the asking price.
  2. Your second offer should be a little higher than the first.
  3. Think about additional costs.
  4. Read everything before you sign.
  • If you have a loan on your car, you should have full coverage insurance.

Financing and Sales Tax

  • You want a lower rate.
  • Your term depends on how much you make monthly.
  • If you don't make much, you want a 48 to 60 month term.
  • If you make a lot, you can do a 24 to 30 month term.
  • Your sales tax depends on where you live.

Operating Costs

  • Depreciation
  • Annual interest on auto loan
  • Annual insurance cost
  • Licence and registration
  • Property tax
  • Gas
  • Oil changes
  • Tires
  • Maintenance and Repairs
  • Parking and tolls