Buying your teen a car? Ask yourselves these questions

How much can you afford to spend on a used car? Before you step onto the lot, arrive at a figure that won’t break your budget, and stick to that figure.

Shop around for a car that you and the young driver in your family can be comfortable driving. Also, remember that each state has different requirements regarding safety features, so make sure the used vehicle you’re buying meets the requirements for air bags, seat belts and child safety features.

Read up on reliability ratings of the used vehicles you’ve got your eye on. Not all cars are created equal, so find a model with a proven record of going the distance.

Whether used or new, a car is a big purchase. When shopping for a used car, in particular, prices can vary vastly based on dealership and region. Put in the time to comparison shop, and you could save some serious money.

Using the car’s vehicle identification number (VIN), search online to find out the car’s history. Any accidents the vehicle has been in will show up in the report. Also read up on whether there were any recalls for the model and year in question.

You’ve done your research and have a sense of what experts say the used vehicle is worth. Put that information to work for you, and negotiate with the dealer toward what you think is a fair price.

Twelve thousand miles per year is generally regarded as average, while 10,000 miles per year (or less) is low and 15,000 miles per year (or more) is considered high. Look at the odometer, which tracks mileage, and do a quick calculation based on the age of the vehicle. If the mileage seems alarmingly high or low in comparison to the average, ask the dealer if they know why.

The monthly payment on the used car is the most important figure to consider, but the cost doesn’t end there. Factor in the cost of interest and other dealer add-ons like rust-proofing and extended warranties. Also consider the price of auto insurance — younger drivers often have higher premiums.

Just as it’s important that your teen driver feel comfortable behind the wheel of her car, you want to make sure the used car you’re buying feels right for you. Always take a vehicle out for a spin before buying it.

If you’re not satisfied with the test drive or the details of the deal being offered, remember that it’s OK to walk away. Remember, too, that this is a business transaction, so there’s nothing personal in telling the dealer you’re not prepared to sign on the dotted line.

Spend time thoroughly reading the contract. Are all verbal promises the dealer made included in writing? Are any commitments to repair the vehicle before the purchase spelled out clearly? Does the contract include details about payments and money down? Make sure everything is in writing, and if you have questions, be sure to ask.

If you have a trusted mechanic, take the car for a visit.  Many mechanics will, for a nominal fee, go over a car and give you their perspective on what might be potential red flags or upcoming maintenance.