when do repairs exceed depreciation?
how old the car is to provide great value? little repairs until you rack up more miles.
buy cpo, used, or from private party.
let us discuss. helping fiance’s bro. he is poor.
rental car? multiples owners? accidents?
The chances of finding a CPO or rental car for less than $10k is extraordinarily small. The mileage, repairs, etc., all depend on the vehicle itself. SUVs and trucks cost more than sedans, so the mileage has to be higher to get into that price range.
Accidents themselves are not disqualifiers. You can usually get a copy of the accident reports on the applicable state’s website. Accidents where airbags deploy should be avoided, as well as accidents where there’s potential suspension damage.
A co-worker of mine recently bought an almost-new Ford Focus (I think it’s 3 years old and had like 20k miles) for $12k, so that might be a good direction to start in if the type of car doesn’t matter.
life comes at you fast
Yea I mean a 10k car 6 year monthly payment is only 150. Crazy cheap. Perhaps we may boost it I gotta figure out what he can afford. Not so sure on his income. But he just graduated high school and works at a warehouse. Minimum wage laws here are 13 bucks I think.
I bought my current Toyota Corolla barely used during the Great Recession for 10k and still driving it today with no issues. I’d imagine similar bargains exist right now or will exist fairly soon.
My .02 - New cars cost a LOT less than used cars.
I have bought a few used cars over the years. They all died about 3 years after I bought them.
I have bought one new car, and it has lasted my 16 years so far.
I realize that n=1 is a small sample size, but still…this is my real-life observation.
you gotta get a new car greenie. bluetooth and backup camera are game changers. i think those are basic for 2016 models nowadays.
I don’t know. I have mixed feelings.
New car pros -
- They look nicer (and people here do judge you by your car),
- It would be bigger (mine is a 2004 Mazda Tribute, the smallest SUV in the Ford lineup), and
- I have to get a new one someday.
New car cons -
- I like having a paid-for car.
- It would be bigger, and I like driving a smaller car. Easier to drive.
- Even though my car is a “compact” car, it still feels really roomy inside. Feels roomier even than my wife’s giant SUV.
- It’s paid for.
What kind of cars were the used ones?
I’d get a Civic or Corolla but if you really want CPO, you should be able to find a Kia or Hyundai sedan around there.
Yea I’d get a Hyundai if I was a poor. Those are good cars with great warranties.