The Best Strategy to Buy a Used Car Every Two Years

The cost of a new car can be prohibitive for many people. Purchasing a dependable used car can save a lot of money while still providing a reliable vehicle. Some consumers devise a strategy to buy a used car every two years, each of a higher value, to save enough money to eventually purchase a new car.

Budget

Set a specific price range for your next used car. Save a weekly or monthly amount to reach the goal for the price range set for the next used car.
Set a selling or trade-in price for your current car. Use the Kelley Bluebook or a website service to estimate the value of your current car. Keep up with and document maintenance so you get the best trade-in amount or sales price for your car.

Shop for the Best Used Car

When you have reached your financial goal, review cars in the target price range for performance, maintenance issues and personal preferences. After choosing the car you intend to purchase, be sure to check the history of the car for accidents or major maintenance issues. Ask if the used car is still under warranty for any major components of the car.

Inspect the interior and exterior for damage. Inspect the engine for worn belts, leaking fluids and check the level of fluids such as engine oil, brake fluid and transmission fluid. Ask to have a mechanic inspect the car and provide feedback on the condition of the car. The cost of a mechanic to inspect the vehicle might be a minor expense compared with dealing with a major problem with the car later.