Thank you for the feedback, SteveCBT and Mustangman. I have never bought up a car in the past and all this is new to me. It’s encouraging to get your validation that I am on the right path.
In terms of prep, I have also done the following:
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Built a simple financial projection spreadsheet that the Total Cost of Ownership and Operation of the car will be about $30k over the next 5 years. $500/month is something I can live with, although I’ll prefer it to be less expensive.
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Checked CarFax, Autocheck, KBB, and a bunch of other sources using the VIN. While info is consistent, not everything matches up. For example, their recent servicing in Feb 2021 is not in the Carfax report. I saw the sticker from the Toyota dealer mentioning the date of the oil change.
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Our insurance is going to be crazy as we are new drivers. Anywhere from $250 - $300 per month for me and DW. I am looking for ways to reduce this expense, and one of them is to buy an inexpensive car.
If you have any additional advice at all, I am all ears.
Thank you so much!