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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.
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.
CAR COSTS ALL OVER THE MAP?
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.