How much should I budget for a used car?

The amount you should budget for a used car will depend on a number of factors, including your needs, your budget, and the current market value of the type of used cars you are looking for. A good rule of thumb is to budget for a car that is no more than three to five years old and has fewer than 100,000 miles. A certified pre-owned (CPO) car has been inspected and certified by the manufacturer to meet certain standards of quality and condition. CPO cars typically come with a warranty that is longer and more comprehensive than the warranty on a non-CPO used car.