{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/69c148bb1a160b44db9c8fcc/6aa17639b520126fa0d4224f?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Buying a car? 6 steps to avoid costly mistakes","description":"<p>1050. Buying a car can feel like a financial landmine. Host Laura Adams answers a listener’s question about buying a car before starting his first job. You’ll learn how to evaluate your current car, set a budget, secure financing, and find a great deal that doesn’t wreck your financial goals!</p><p><br></p><p><strong>Key Takeaways:</strong></p><ul><li>Compare a car’s repair bill against months of new car payments and a potentially higher insurance premium before giving up on an older vehicle.</li><li>To keep transportation costs affordable, follow the 20/4/10 rule to put 20% down, finance for no more than four years, and cap total expenses at 10% of income.</li><li>Get an auto loan pre-approval before you start car shopping so you have an interest rate benchmark if a dealer offers financing.</li><li>Request auto insurance quotes for different cars you’re considering so you understand the cost before buying a vehicle.</li><li>Focus negotiation on a vehicle’s total purchase price rather than the monthly payments, which can be adjusted to include fees or longer loan terms.</li><li>Leasing a car may make financial sense if you need a lower monthly payment, drive lower annual miles, prefer a new vehicle every few years, and don’t care about building long-term equity.</li></ul><p><br></p><p><strong>Discover more from Money Girl!</strong></p><p><a href=\"https://www.facebook.com/MoneyGirlQDT\" rel=\"noopener noreferrer\" target=\"_blank\">Facebook</a></p><p><a href=\"https://www.quickanddirtytips.com/money-girl-newsletterhttps://www.quickanddirtytips.com/newsletters\" rel=\"noopener noreferrer\" target=\"_blank\">Newsletter</a></p><p>Transcripts available at <a href=\"https://www.quickanddirtytips.com/transcripts/money-girl/\" rel=\"noopener noreferrer\" target=\"_blank\">QuickandDirtyTips.com</a>.</p><p>Email: Laura@LauraDAdams.com or leave a voicemail: (302) 364-0308.</p><p><br></p>","author_name":"QuickAndDirtyTips.com"}