Car Buying 101 Apr 2026

Aim to keep your total monthly car expenses (payment, insurance, fuel, and maintenance) around 10% of your gross monthly income.

A car can lose up to 25% of its value the moment you drive it off the lot. Buying a 2–3 year-old vehicle can often save you thousands. 3. Get Pre-Approved car buying 101

Visit your bank or a credit union first. A pre-approval gives you a baseline interest rate to compare against whatever the dealer offers. Aim to keep your total monthly car expenses