: To get the most value, buy a quality used vehicle and drive it until it is no longer cost-effective to repair.

: You should never have more than half of your annual income tied up in things with motors (cars, boats, motorcycles). 2. Buy Used and Let Someone Else Take the Depreciation

: Use tools like Kelley Blue Book or Edmunds to ensure you aren't overpaying.

: Ramsey generally prefers buying from private sellers to avoid the overhead costs and high-pressure sales tactics found at many dealerships. 5. Think Long-Term

: If the seller won't meet your price or if the vibe feels "off," you must be willing to leave. There is always another car.

: Always have a trusted, independent mechanic inspect a used vehicle before you hand over any money.

: You should only buy a brand-new car if you have a net worth of at least $1 million and can pay for it in full with cash. 3. Research and Inspection are Mandatory

: Once you buy a car, immediately start a "sinking fund" (a specific savings category) for your next car so you can upgrade with cash later.