How to Budget for an Affordable Used Car

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To budget for an affordable used car, start by determining your monthly car expense cap, ideally no more than 15% of your take-home pay. Research models known for reliability and factor in insurance, taxes, and potential repairs. Aim for a purchase price that allows a comfortable down payment to lower monthly loan costs. Remember, a slightly higher initial cost might save money long-term if the car requires fewer repairs. Always include a small emergency fund for immediate issues after buying.