Sure, new cars look good and smell nice, but they’re a poor investment. They cost a lot and lose value quickly. How much money is it best to commit to a used car? To be careful, you could allocate just 10% of how much you make per annum for purchasing a cheap car or truck.
If you earn $47,685 a year (the average income per household in Illinois), you would get a used car that costs only $4,769. Some cars with high mileage are better than others. Consumer Reports is a good tool for which used cars and trucks are the best. You can have a look at NADA Guides (NADA.com) to view Illinois used car prices.