monarch: great idea about Consumer Reports. I used to subscribe...guess I need to again, huh? I didn''t know about Edwards so I''ll check into that. You know, I didn''t think about being a responsible consumer (I assume you mean because I plan to get a used car) I figured it would save me money and, right now, we have a plan to get out of debt so I am looking at every penny.
rockzilla: I saw several cars at CarMax online (figured I''d check out some place with lots of options to see what was out there and get an idea of prices) and I was shocked to see cars with over 100,000 miles and priced between $6k and $10k. I thought with so many miles the prices would be much, much lower. I guess your situation proves a good car can go well beyond the 100,000 mile mark and would be well worth the $5k you paid. I only hope I get so lucky with my next car. I''m putting Toyota on the list! Thanks!
brazen: Thank you for looking! I figured Hondas would be at the top. I have had two Hondas in the past, both CRXs, you know--those little two seaters with a flattened rear end--they don''t make them anymore but I absolutely loved them...I flipped one when I ran over a patch of ice on Christmas Eve, total loss of course, someone else hit me in the rear, also total loss. I didn''t get to drive them long enough to see if I would have problems....lol
movie: did you not worry about buying a car with so many miles on it? even for $4k i would think it would break down on me before i got a mile from where i bought it. we don''t like car payments, either, so maybe i''m thinking about this the wrong way...maybe i should consider more mileage on a car such as a honda that is considered to be so reliable. looks like both you and rockzilla are proving high mileage doesn''t necessarily mean bad car. i''m glad you love your car, that''s great!
Date: 5/11/2008 11:25:25 PM
Author: tevyk
yay, a topic I can actually offer advice on instead of begging the advice of others!
too funny, i feel like this a lot...most of the time i feel i can only contribute the "nice ring" comments and not much else.
I agree with the recommendations of going with Honda or Toyota *especially* for a used car. Their reliability track record is awesome. And when Hondas have abnormal problems (ie, the transmissions on 2001 Honda Accords), they extend the warranty [I just got my transmission replaced completely free under a 7-year, 100k mile warranty that they extended free on all 2001 Accords from the standard 3-year 36k mile warranty that was long expired]
A bit over a year ago, I had a similar budget to buy a car. If you look for a private party used car on craigslist or something, you can often get a pretty good deal on a 3-4 year old Honda or Toyota. In late 2006, I bought a reasonably equipped 2001 Accord in great condition with only ~40k miles for $10,500 -- right at blue book value. I personally think you might be better off going another 2 years back and looking for something with lower miles, since I don''t imagine you''d find a 2005 Honda/Toyota for under $12k unless .
You''re probably right.
Storm''s suggestion of a new Hyundai is actually a great idea -- I believe they offer a 10 year/100k powertrain warranty standard on most/all new cars, and 5-year bumper-to-bumper. Their reliability isn''t as good as the nice Japanese cars, but IIRC consumer reports said they had equal or fewer problems as most domestic cars. These comments all apply to Kia as well.
That does sound like a great warranty but Hyundai is still such a new name to me--i was curious as to how many folks would mention it.
And you''re much more likely to get good financing (0-5%) buying a new car than you are used. My credit score was over 700 when I bought my car, and I couldn''t get a loan under 8% (which is going to cost me almost $2k in interest over its 3-year term).
This is something I am struggling with, too--higher rates for used cars. last time i checked my score it was high 700s so i thought i would qualify for the best rate which still may be higher than i want to pay.
Yup, that is what I meant. Sticking to a budget, getting something reliable and letting someone else take the hit on the depreciation of a new car, and finding something that is great on gas mileage are all money savers and you can still have a nice looking set of wheels if you play your cards right. Also, I think Scarleta mentioned that if you buy from a private seller make sure to take the car to your own mechanic first to have an inspection done, especially if the seller hasn't kept all their records of maintenance on the vehicle. (Actually, try to buy from a seller who has kept all their records and has proof that the car was maintained--i.e. oil changes, tire rotation, etc. if possible.)
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