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"looking into buying" is correct and usable in written English.
You could use it when you want to express that you are in the process of researching the possibility of buying something. For example, "I'm looking into buying a new car."
Exact(25)
Galaxy Entertainment, a local casino firm, is looking into buying a tract there.
Apparel company Liz Claiborneis among the companies looking into buying handbag maker Kate Spade, industry sources said Wednesday.
Mr. DeBiase said he was prepared to build an old-fashioned outhouse for waste when the water supply is gone and was looking into buying a kerosene refrigerator.
But now we are actually looking into buying a car, and in the past two years I would not have thought it possible".
But a Saudi prince looking into buying a condominium in that building, near the United Nations, felt that the floor — described as being on the 88th but actually on the 70th — wasn't high enough.
"A year ago, I was looking into buying one of these for my wife," said Kurt Garland, the terminal manager overseeing the unloading of the white, silver and black sports cars, sport utility vehicles and sedans.
Similar(32)
We looked into buying a place here.
We looked into buying a print.
WEDNESDAY -- Look into buying the rights to the word "Boston".
Mr. Lynch looked into buying a vintage car, then discovered London Taxis.
The residents looked into buying a plot of land, but it was too expensive.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com