Buying a "cheap" used car is a high-risk, high-reward process where your time and research act as your currency. To secure a reliable vehicle without overpaying, you must shift from being a "consumer" to a "detective." 1. Define Your "Cheap" Budget
Before browsing, calculate your . A common guideline is the 20/3/8 rule : a 20% down payment, a three-year loan term, and total monthly car expenses under 8% of your income. how to buy a cheap used car
: Budget for registration, sales tax, insurance, and an immediate $500–$1,000 for maintenance (fluids, filters, or tires). Buying a "cheap" used car is a high-risk,