Abc News Car Buying Tips 🆒

: Be wary of 72-month or 84-month loans. While they lower monthly bills, they increase total interest paid and keep you "underwater" (owing more than the car is worth) for much longer.

: Reference resources like Edmunds or Kelley Blue Book to determine the True Market Value (TMV) and invoice price before visiting a dealer. Budgeting and Financing abc news car buying tips

: Secure financing from a bank or credit union before arriving at the dealership. This provides a baseline rate that the dealer may try to beat with manufacturer-backed promotions. : Be wary of 72-month or 84-month loans

: Experts recommend putting 20% down , limiting the loan term to 4 years , and keeping total vehicle expenses under 10% of your monthly income . Budgeting and Financing : Secure financing from a

: Always hire a trusted, independent mechanic to check a used vehicle before buying. If a seller refuses an inspection, consider it a major red flag.

ABC News offers a variety of car-buying tips focusing on negotiation strategies, budgeting, and inspection to help shoppers avoid common pitfalls like overpaying or taking on unmanageable debt.

: Holidays or the end of the month, quarter, or year are often good times to find motivated sellers.