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Need help with picking out a car to buy

rjmaiorano

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If you are rationalizing the choice for a used car then continue to do so. At your age (my age) a car is essentially for utility purposes... the guy in the lotus got it from daddy so who cares.

Spend what you have to so you can get by with minor continuing cost. Your options become a cheap reliable car or a cheap reliable lease. Often times the standard upkeep on a lease can be paid for by the dealer because they want it in solid shape for resale purposes. The only reason I suggest a lease is because you don't need much if any $ up front, it will be more reliable than used, and once school has finished for you I would guess you would like a 'nice' car, so a 48 month lease or so gets you out of the car.

On the other hand you can spend a few grand up front for a used car. It is yours outright. But perhaps for social purposes not as good as a lease, but thats debatable. You can sell the car or trade it in when you are through with it, so some back end value exists, but not too much. But you leave yourself open to the ****** repair costs that can randomly appear in used cars.
 

Cognacad

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Wouldn't a 200$ a month lease (that is a pretty cheap example, right?) for 48 months end up being 9600$, enough for a very reliable and relatively decent car, what I would own and could then sell for X000$?
 

RedLantern

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Why are you even considering anything but buying a reliable used car? Find a seller that will allow you to take the car to a mechanic, spend the extra money to have the car checked out. Done.
 

Cognacad

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I am leaning towards buying a reliable used car, but that is as vague as saying I am interested in buying a suit and people reply with: "Go to a suit store and buy a suit made of wool". That could range from 200-15,000$.

Should I cheap out and buy a cheaper reliable car with higher mileage (e.g., 5000$; Civic with 120,000+km) or buy a newer car with lower mileage (e.g., 10,000$; good ford with 50,000km). I guess my concern is that buying a cheaper car may end up being more expensive than it looks because I may need to buy parts for it. Also, I guess I am a bit concerned about buying an older car and wanting it to last me an extra 5 years above its current age and mileage with relatively little fuss and $$. I have had one car with high mileage (Tercel with 300,000 miles +) and it didn't cost me one cent to repair, but I think that is an exception more than a rule.

Don't act as if this is a no-brainer, if it was there wouldn't be huge price differences between potential options, and simply saying buy a reliable used car is not all that helpful... Perhaps I am beating a dead horse with this question. I just don't like "wasting" money thats all I guess, either buy buying a car that is too expensive or buying a cheap car and putting money into it.
 

BBSLM

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Yesterday I bought an '09 Toyota Corolla with only 26k miles with full warranty and clean carfax/autocheck for $11,900 (a good $3k under retail.) It was a voluntary repo sold at auction to a small independant dealer, who marked it up $500. I found him on craigslist. You may want to seek out someone like this.

Depending in how long I drive it, I should be able to sell it for what I paid for it, or just a little less. This is much more attractive than the $11k I lost on 3.5 years of depreciation on the 335i I bought new.
 

Cognacad

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That is a pretty good deal indeed. I am looking at a 2009 Yaris with 36,000km right now for about 12,500$. Tempting.

I wanted a standard but beggars cannot be choosers I guess.
 

BBSLM

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Originally Posted by Cognacad
I am leaning towards buying a reliable used car, but that is as vague as saying I am interested in buying a suit and people reply with: "Go to a suit store and buy a suit made of wool". That could range from 200-15,000$.

Should I cheap out and buy a cheaper reliable car with higher mileage (e.g., 5000$; Civic with 120,000+km) or buy a newer car with lower mileage (e.g., 10,000$; good ford with 50,000km). I guess my concern is that buying a cheaper car may end up being more expensive than it looks because I may need to buy parts for it. Also, I guess I am a bit concerned about buying an older car and wanting it to last me an extra 5 years above its current age and mileage with relatively little fuss and $$. I have had one car with high mileage (Tercel with 300,000 miles +) and it didn't cost me one cent to repair, but I think that is an exception more than a rule.

Don't act as if this is a no-brainer


To me, the reliability and peace of mind of a warrantied used car far outweigh the savings provided from buying an older/higher mileage out-of-warranty car. Sure, you could find an e30 bmw or mkII vw for $2k that will last forever with no out of pocket costs other than gas and oil, but the chances of finding a perfect example like that are slim unless you know someone you trust who deals with them regularly. Newer cars also provide better safety features, cleanliness and technology. Plus having a loaner vehicle in the event that something does go wrong is a life saver. Just buy a brand that wont depreciate too much (honda, toyota) and youll be fine.
 

Cognacad

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Thanks
smile.gif


Unfortunately I just found out the Yaris I just mentioned has no AC.

Can a person live without AC? Gets like 30-35C here in the summer...
 

Cognacad

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Haha yeah that is what I was thinking.

Just got a phone call everything was great but last minute I got rejected for this specific line of credit because I am in a Masters program and not a PhD program next year. Balls.
 

RedLantern

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Originally Posted by Cognacad
I am leaning towards buying a reliable used car, but that is as vague as saying I am interested in buying a suit and people reply with: "Go to a suit store and buy a suit made of wool". That could range from 200-15,000$.

Should I cheap out and buy a cheaper reliable car with higher mileage (e.g., 5000$; Civic with 120,000+km) or buy a newer car with lower mileage (e.g., 10,000$; good ford with 50,000km). I guess my concern is that buying a cheaper car may end up being more expensive than it looks because I may need to buy parts for it. Also, I guess I am a bit concerned about buying an older car and wanting it to last me an extra 5 years above its current age and mileage with relatively little fuss and $$. I have had one car with high mileage (Tercel with 300,000 miles +) and it didn't cost me one cent to repair, but I think that is an exception more than a rule.

Don't act as if this is a no-brainer, if it was there wouldn't be huge price differences between potential options, and simply saying buy a reliable used car is not all that helpful... Perhaps I am beating a dead horse with this question. I just don't like "wasting" money thats all I guess, either buy buying a car that is too expensive or buying a cheap car and putting money into it.



Yes, as long as it checks out alright mechanically. Also, check out the interior condition of the car. If the car is clean (I can usually tell the difference between a car that has been kept clean and a car that has only been cleaned prior to sale), you can assume that they took care of the car in other aspects as well. Basically you want something that will be reasonably reliable for the time you are in school. Assuming that you could move anywhere after school, it will be a royal pain ********** figuring out what to do with your car if you've got a nice one.
 

Cognacad

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Yes this is true, thanks for the advice.

Currently I plan on looking at buying from a private sale. In my province you don't pay provincial 5% tax on used cars, so that helps a bit. People out there are selling cars for cheap for all kinds of reasons, moving, death, wanting to upgrade etc. If I look for a few months I should be able to find something for a good price. I need the car by end-august so I got time!

I just need to buy a car so I can drive around and look for cars to buy!
 

Mr.K

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I would say buy your mom's car. YOu konw how she treated it. I bought my farther's 15 year old 300ZX and it was great deal becuase he owned it form new and I had its entire history.
 

Cavalier

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That 2001 impala isn't a bad car at all, would be worth spending a weekend fixing it (and 100-200 in parts)
 

Cognacad

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Well turns out her car works now. Know that my knowledge in mechanics is limited, and it is unlikely I could perform any real repairs on it on my own. She said she would like to give the car to me. The only thing in my way is a 4000km drive. Crap!

I will probably take this deal. The only thing I worry about is if it has problems along the way im screwed, and dropping 500-600$ in gas at least, and I will need to pray there are not any further problems with it in the future.
 

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