Wed. Oct 23rd, 2019

SmartMoney podcast: ‘How Do I Purchase a Used Automobile?’

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Welcome to NerdWallet’s SmartMoney podcast, the place we reply your real-world cash questions — in 15 minutes or much less.

This week, Sean and Dayana settle a debate they’ve been having: What’s one of the simplest ways to purchase a used automobile? Sean’s been prowling Craigslist, whereas Dayana is about on a extra conventional route. 

Our suggestions

Earlier than buying round, set your finances. Goal to maintain the complete value of proudly owning a automobile, together with upkeep, gasoline and insurance coverage, inside 20% of your month-to-month take-home pay. 

Discover the car-buying route that works greatest for you. If you happen to’re a professional haggler, you may have the ability to discover a deal on Craigslist. CarMax, in the meantime, presents a extra relaxed car-buying expertise that doesn’t contain negotiating. New choices, like Carvana, make it simple to purchase a automobile from the consolation of your sofa and have the automobile delivered to you.

Know how you can vet a used automobile. Look at the car historical past report of any automobile you’re inquisitive about, in search of issues like severe accidents and what number of homeowners it’s had. And take into account the automobile’s mileage; about 12,000 miles yearly is typical.


Monitor your automobile bills and discover the perfect path to financial savings.

Extra about automobile shopping for on NerdWallet

Methods to purchase a used automobile

Methods to purchase an inexpensive, drivable used automobile

Ditch the dealership with on-line used automobile sellers

Your car-buying cheat sheet

Have a cash query? Textual content or name us at 901-730-6373. Or you may e mail us at [email protected]To listen to earlier episodes, return to the podcast homepage.

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