: Some experts suggest a stricter 20% down , 3-year term , and 8% of income to minimize interest.

: Factor in taxes, registration, and immediate maintenance (budgeting $100–$200 for an inspection can save $3,000–$8,000 in repairs). 2. Where to Find the Best Deals Kelley Blue Book

Don't let a salesperson tell you what you can afford based on a monthly payment. Dealers often use long loan terms (up to 84 months) to hide a high total price.

Buying a used car for cheap requires shifting your focus from the monthly payment to the . In 2026, the average used car loan rate is approximately 10-11% , making it critical to secure your own financing before ever visiting a lot. 1. Set Your Real Budget

: Put 20% down , finance for no more than 4 years , and keep total monthly costs (including insurance) under 10% of your gross income .