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Tips for buying your first used car

Posted on Thursday, June 21, 2012 at 9:51:05 PM

In June, the used car market often sees an influx of young car buyers. New high school and college graduates are looking for their first set of wheels, and with grad money and savings in hand, they often take a trip out to a local dealerships.

However, before signing a contract for auto financing, every first-time car buyer should consider how they are going to use the car, how much they have in funds and potential vehicle options. Not every car is the same, and while a graduate may want to drive away in a new sports car, it may not be possible. Yet at the same time they should not force themselves to buy a vehicle just for practical reasons.

"Here's a heretical notion: Buy a car you like," Jack R. Nerad, executive editorial director of Kelley Blue Book, told Fox Business. "Don't, however, mortgage your future just to drive a cool car."

Here are three used car buying tips to remember:

1.    Remember to budget for the total cost of the car, including insurance, maintenance and fuel.
2.    Research the make, model and year of any vehicle under consideration.
3.    Don’t be afraid to haggle or negotiate with the dealer.ADNFCR-16001052-ID-800802535-ADNFCR