What are all the expenses to consider when buying a car from the owner?

What are all the expenses to consider when buying a car from the owner?

I am buying a 2002 Toyota Camri Solara from one of my mom'-s friends this weekend. There is nothing wrong with the car, so it does not need any repairs (she took care of the car very nicely). I am new to buying cars in general, so I really don'-t know what all I need to budget for. The car itself is being sold to me for $1,100 (she is very generous thank GOD). I know that I am going to have to buy the license plates, insurance (I have to have a talk with my mom about putting me on her insurance), registration I think, and I'-m not really sure what else. I am going to get the car checked out to be completely safe, but I'-m sure it doesn'-t need any immediate fixes as she drives it to work everyday. What all do I need to budget for when buying this car from her? And how much do the things I need to budget for normally cost? I know prices are different from state to state, I live in Georgia. One last sort of related question, I started to look up quotes for auto insurance, and I went to Geico, and there is a car that pops up when I put in my information, but I do not own a car. Is someone using my info to get insurance on their car??? Thanks.

Mouseket

Sounds like a good deal best to have the car looked over by a mechanic this way there is no surprises. Next will be the cost of registering the car if you log on to your sates DMV web site if should give the the cost breakdown. Insurance is something else expect to pay at least $100 a month until you about 23 or 25 years old. Ask your mom for further questions I'm sure she will know.

TiggyWiggy

Sounds like you've got it pretty well thought out. The only thing you've left out is the new "title tax" in Georgia which went into effect March 1, 2013 (even for cars purchased from an individual). It's 6.5% of the value of the car, not what you actually paid. The good news is that you no longer have to pay an annual ad valorum tax, only a $20 tag renewal.

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