Best Way To Buy A Used Car

[Andrew Michaels]

I'm going to need to buy a new car soon, or rather a new used car. I don't have a ton of money and the job I'll be getting won't pay a lot of money so I need it to be fairly cheap. I'm looking for a car that is only a few years old. I need it to be inexpensive, reliable, and gas efficient. I'm thinking about a civic or Yaris, but would be open to other suggestions.

Anyway, I want to know the best place to look. All the used Yaris prices seem to be no less than the new Yaris prices, for some reason, though civics seem to be cheaper.

Do you just go to dealers? I know that if you go to a new dealer a few days before the end of the month and tell them that you want to pay 5% over invoice that you can often get a deal. Is there any such rule with used cars?

Are there used car websites to search? Just ebay?

Any advice welcome.

Thanks.

[Still Growing]

Buy a used Ford Taurus.

Why? They depreciate so fast you can buy one with 50K miles for $5K. They are not sexy but they are reliable.

[Love]

Dealers will overcharge you to make money, and you will not be guaranteed that your car is any better than one you bought from a normal person. I say this because I bought a used car from the dealer, which deteriorated pretty quickly and left me in a pickle. I would try and find someone who is selling their car personally, through some car site... there are a couple, I think carmaxx.com is one. Then, have a mechanic tell you the ins and outs of the car so you won't have any surprises down the road. If you are far away from the car you want to buy, you can send a mechanic there using some online sites ( I think there are two, can't remember their names) and the mechanic will inspect the car, write a report, and post pictures. I did this for one car (unfortunately, not for the car I ended up buying) and found the service to be very thorough..
Good luck!

[WanderingOak]

'Fairly Cheap' and 'Reliable' don't often go hand-in-hand. You could go with an off-brand import such as Hyundai, Kia, or Daewoo, and aside from the automatic transmissions being made from used chewing gum and rubber bands, you might get a good deal. If you can drive a stick-shift, you might want to go that route. I know from personal experience that most shops do not know how to rebuild automatic transmissons for the oddball imports. A Taurus or other 'boring' compact or mid-sized car would work as well, although again make sure the transmission is strong. Avoid Hondas, Toyotas, and VWs, becasue they tend to be pricey, and in the case of WVs, mechanically unsound. The only advantage that a dealer would have over a private seller is a warranty, although again, that would probably drive it out of the 'fairly cheap' range.

[mustard76]

Don't buy from a dealer. I just bought a used car on craigslist.org. You have to find a private seller who is selling for the "right reasons". For example, he/she loves the car, but needs a bigger one. Make sure you get a low mileage car (under 20k miles) because it's unlikely to have any problems.

Check the carfax.com report on the vehicle. Have the car inspected by your favorite mechanic. Most auto shops will do this for you.

Once you get an idea what you want watch the listings on craigslist until you see a good deal, then jump on it. You'll have to watch craigslist for week or so to get and idea how much you should pay.

I bought a used '04 Toyota Camry with 18k miles. I would recommend the same to you if you want a good deal. I bought this car 6 hours after the ad was posted because it was a great deal. Of course, I had to do my homework before I could even recognize a good deal.

Believe it or not, I learned how to buy used cars from the book "The Millionaire Next Door". In Chapter 4 there is section called "Purchase behavior" that talks about how millionaires buy cars. This section is only about 20 pages long, but it's based on real scientific behavioral studies and it helped me saved a bundle. You could read it in the bookstore.

[mustard76]

do you mind telling us how much you want to spend? that makes a big difference.

[joelyle]

hello,

I vote for a Honda Civic; as new as you can afford; they have five-star long-term rating from Kelly Blue Book (I believe). If you can make payments: apply for a pre-approved loan (Capital One did well for me).
Consider also Acura Integra (good long-term reliability).
I strongly suggest an older Honda/Toyota/Nissan/BMW over a newer American branded vehicle. There is no comparision to a Japanese car with 100k+ with an American car with 100k+.

[Andrew Michaels]

Originally Posted by mustard76

do you mind telling us how much you want to spend? that makes a big difference.

10kish max. Preferably less.

[mustard76]

For $10k you could get a used toyota corolla or honda civic with about 40-50k miles. These cars are very reliable and should last you a long time. Personally, I stick to toyota and honda because I have had such a good experience with the reliability of their vehicles. My last car was a toyota corolla and it went 170k miles (10 years) before it needed its first unscheduled repair. It still runs great.

[Greg]

Definitely do your research - and buy a car that is reliable - it will save a you a lot of headaches later on.

Remember when buying - keep in mind the period of time you expect to be driving. So if you are buying a car for 5 years, put together a spreadsheet that has all associated costs for 5 years of driving (plus a little contingency). Then do the same for all cars you compare and you can see how repairs / gas millage (plus gas inflation) will affect the total life cost of the car.

That is probably the most objective way to do it. Then factor in subjective stuff that you want like air conditioning and "nice looks."

[shant121]

buy a reliable car!!!

nothing beats Toyota Corolla (Toyota RAV-4, Chevy Prizms and Pontiac Vibe are corollas with a different makeup) or Honda Civic or a Nissan Sentra.

Ofc for 10K you'll get good Camrys, Accords and Altimas as well. get one of these, they are bigger with more powerful engines and better appointed.

all the best


P.S. my frnd has a Sentra with 275K miles and it still runs well. another one had a Corolla that went 200K. another bought a 1992 Honda at 142K miles two years ago, its at 160K now and w/o any repairs. another uses a 1991 Honda, looks OLD, but runs awesome!! my Prizm is at 120K and I love it, everything including the gas mileage ) 30 + mpg in the city in worst conditions and 35 + on the highway. very reliable.

just in case you're wondering, we're all students

[Thomas Jensen]

You could try buying a used car with one of those 0% credit card deals. Whenever the 8 months/12 months is over, simply transfer the debt to another card offering a similar deal. This way at least you're never paying interest (depreciation is enough of a problem as it is, already).