Depends on your price range. Even cheap modern multimeters are "good enough" for most of what we do on our Bricks. I'd only worry about a higher-end one for serious problems involving O2 sensor outputs, testing for weird ground loops, and stuff that 90% of cars won't experience. And even of those 10% that do, most owners end up having someone else scratch their heads instead.

I have a lot of meters that I use daily. I like the Fluke models best, but there are times I don't want an expensive meter in my bag, because it could get broken/lost/stolen and I'm just looking for voltage or to see if a fuse is blown.

For those times, I use Meterman or Extech meters (I am fairly sure that Extech are sold by Sears as their Craftsman meters as well).

In order to reduce price without losing features, I skip out on autoranging. Especially for automotive use, where a 20V scale is what you'll be using 99% of the time. Make sure it takes standard "banana plug" leads or youu may be buying a new meter the next time you slam the door on one of the probes. If the leads are built-in, it's not what you want here.

It's up to you if you prefer a needle or a digital display; I like the needle for things like throttle position sensors and oxygen sensors. I like having a beeping continuity feature, especially when I'm under the dash and can't see the meter and the wires at the same time.

A backlight is worth splurging for; it's not mandatory but when you're under the car and can't see the numbers, and have to grab a flashlight, you'll be wishing you spent a couple more bucks. Or maybe you only work in well-lit areas and have a friend to read the numbers for you...

Avoid: Built in leads; leads that aren't standard "shielded banana plug" style; "features" that you don't need (if it's for auto/house use, you will need 2, 20, 200 volts; 200 through 2 meg-ohms; 2 amps, plus diode and battery check modes -- everything else is probably money for nothing).

Look for: Brand name (Craftsman, Extech, Meterman, Triplett, Greenlee are good inexpensive options, but there are others) with extra leads/universal leads easily available. Extra lead tips allowing clips, needles, etc for easy test hookups. CAT III /UL Listed. Backlight if it doesn't break the bank. Easy to read display. Holster to protect against bumps. Standard 9V or AA batteries and not some strange lithium oddity that will die at the same time your car does.

Good luck!