Buying a Used Car
Presented by Your Name
Consider Your Income
• Determine your monthly net pay
• Multiply your net pay by 10%
• Multiply your net pay by 20%
• Budget between 10% and 20% of net pay for total transportation
costs
Consider Operating and Ownership Costs
• Research the expected monthly cost of
•
•
•
•
•
•
•
Gasoline
Repairs and maintenance
Tires
Insurance
Property taxes
License renewal
Registration
Determine Your Monthly Car Payment
• Add up all Operating & Ownership Costs
• Subtract Operating & Ownership Costs from total transportation costs
Calculate Your Price Range
• Use an online car affordability calculator to determine price range for
a car
• Enter the monthly budgeted car payment
• Enter state sales tax
• Enter down payment amount
Shop
• Look for cars within your price range
• Consider cars with low mileage
• Compare features such as
•
•
•
•
Reliability
Gas mileage
Safety
Additional features