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Buying a Car • Mercer County, WV
All resources
Resources for Module 3 - Mercer County
Kelley Blue Book: Research car prices, values, and reliability
Carfax: Get vehicle history report showing accidents, owners, and maintenance
Edmunds: Car prices, reviews, and buyer tools
Consumer Reports: Owner satisfaction and reliability ratings for cars
CFPB Auto Loans Guide: Government guide to understanding auto loans
Mercer County Teachers Federal Credit Union: Local credit union with competitive auto loans
West Virginia Lemon Law: Your rights if you buy a vehicle with serious problems
Action steps
- • Use the 20/4/10 rule with your income. For example, if your gross monthly income is $2,000, your total car costs should not exceed $200 per month. Calculate how much that allows you to spend on a car. Sometimes it is ok for this to be more depending on how much you rely on consistent access to a car.
- • Calculate how much you can afford for a car based on your monthly income. Contact a local credit union or your bank. Get pre-approved for an auto loan. Write down the APR. Compare at least two lenders.
- • Find a car you like. Look it up on KBB.com and Consumer Reports.
- • Once you buy a car, make a plan to set phone reminders for oil changes and inspections. Keep all service records in a safe place.