Helpful Links & Data

• New cars lose 15-30% of their value the moment they are driven off the lot. With a median new car price of $25,500.00 that's a $3,825.00-$7,650.00 loss right off the bat!
• You could get a pretty reliable used car for the $3,800.00-$7,600.00 that you'd be throwing out the window, and have the remaining $17,900.00-$21,000.00 to spend on chocloate or beer or whatever.
• If you need basic transportation, a used car gets you what you need without the lingering heavy expense.
• If you want a status car, you can find a used one at a fraction of the cost (I sold a used BMW for $4,000.00, nobody knows it's used except me and the owner).

• Car prices, used and new, are likely to head up. Wholesale prices for used cars are already rising in light of global competition for cars (used cars are being bought in the US and exported to places like China, India, and Africa). Here's an informed opinion on other factors and future trends.

• Here's an online calculator!
• Here's a rule of thumb: Your budget should fall between 15 and 21 weeks of income (that is, as much as you earn in 4 or 5 months). Of course, less is better, and if you're looking to get a second car, or one for the kids, why stretch your budget?

• What's it's history? Check it with Carfax
• What's it worth? Get a ballpark figure from the Kelly Blue Book