What is the best site for private car sales?

How can I buy a car with low money?

What is a good first car under 5000?

What is a good downpayment on a 5000 car?

A down payment between 10 to 20 percent of the vehicle price is the general recommendation. But if you can afford a larger down payment, you can save even more money on interest payments over the life of the loan.

How much money should I have if I want to buy a car?

Follow the 35% rule

Whether you’re paying cash, leasing, or financing a car, your upper spending limit really shouldn’t be a penny more than 35% of your gross annual income. That means if you make $36,000 a year, the car price shouldn’t exceed $12,600. Make $60,000, and the car price should fall below $21,000.

At what salary you can afford a car?

Remember the thumb rule: Always remember the thumb rule of not spending more than half of your annual income on a new car. For instance, if an individual earns Rs 10 lakh per annum, the ideal budget for the vehicle would be Rs. 5 lakhs.

How much should I save if I want to buy a car?

In general, a good rule of thumb is to aim for 10% down for used cars and 20% for new vehicles. For example, if the new car you’ve settled on costs $25,000 and you want to make a 20% down payment, you’ll need to save $5,000.

What is the 20 rule for buying a car?

Basically, the rule goes that you provide a down payment of 20% of the balance, sign a loan for a four-year period, and pay no more than 10% of your monthly income on car expenses. These expenses include any money you put towards your new vehicle, including gas, insurance, and loan payments.

What car will save you the most money?

How much should you spend on a cheap car?

Calculate your take-home income. This is how much you earn after taxes. In general, experts recommend spending 10%–15% of your income on transportation, including car payment, insurance, and fuel. For example, if your take-home pay is $4,000 per month, then you should spend $400 to $600 on transportation.

Is mileage more important than age?

Ultimately, car age and mileage both matter when buying a used car. They both affect the vehicle’s depreciation rate and they are both interlinked – mileage is taken as being high or low based on a car’s age and the older the car, the more miles it’s likely to have driven.

How much of your monthly income should a car cost?

Financial experts say your car-related expenses shouldn’t exceed 20% of your monthly take-home pay. So, let’s say you bring home about $2,500 each month. The total amount you should spend on your car — including loan payment, gas, insurance and maintenance — is right around $500.

How much should I pay for a used car?

Great second-hand cars can cost as little as £85 per month or less than £5,000, so don’t think you have to spend big money to get a solid, reliable and desirable car. Even sub-three-year old, low-mileage family cars could be yours for well under £150 per month or £10,000 outright.

How many miles on a used car is too much?

What is considered high mileage on a car? Often, 100,000 miles is considered a cut-off point for used cars because older vehicles often start requiring more expensive and frequent maintenance when mileage exceeds 100,000.

How do you talk down a car price?

Explain that you are looking for the lowest markup over your bottom price. As an alternative, ask if the salesperson is willing to beat a price you got from a legitimate buying service. If so, tell him what it is, or better yet, show them a print out. Try not to be argumentative.

Is it cheaper to pay in cash for a used car?

Cheaper – Purchasing a car upfront is usually cheaper as you don’t have to pay any fees or interest on the car. Moreover, you may be able to negotiate a better deal since you’re paying with cash. Lower Debt – Unlike a car loan, you won’t be increasing the amount of debt you have.