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[Solved] Buying a used vehicle for 5K

  

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My 2008 Ford Escape is on its way out and I'll be buying a used car at the end of next month. My budget is around $5K all in, including taxes/fees etc. Strongly leaning towards buying it from a dealer so hopefully I can get at least some type of warranty.

I would prefer something reliable and good on gas, and that doesn't look ancient so like a 2007 or newer. My step dad has been a mechanic for 40 years and has always worked on my cars. He suggests me to get a Honda or Toyota and says mileage is everything so I'm strongly leaning towards a Civic, Accord, Corolla or Camry. Would also consider a Fit, Yaris, etc. I like Subarus and we do live in the northeast where we get some ice/snow for 4-5 months out of the year, I travel 15 miles for work each way every day and can't really just call off from my job. My dad says they are decent cars but he doesn't have very much experience working on them and they are not as reliable as a Honda/Toyota.

Any recommendations or what cars/years I should specifically avoid? 


4 Answers
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Posted by: @chucktobias

For $5000? At a dealer? Good luck with that.

Well I've seen a lot of them. My friend bought a used mid 2000s Yaris from this dealer around 6 months ago for $2500 I believe and he hasn't had to put anything into it. I'm just continuing to save money until the inspection on my Ford runs out at the end of next month before I have my dad actually look at any vehicles.


This post was modified 2 years ago 2 times by Squid1024

Dealers that sell cars 20 years old and older are truly the bottom of the barrel. Sounds like your friend got lucky.


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Posted by: @squid1024

My budget is around $5K all in, including taxes/fees etc. Strongly leaning towards buying it from a dealer so hopefully I can get at least some type of warranty.

At that price level you'd be looking at the worst bottom-of-the-barrel used car dealers out there, probably BHPH lots, who I'm sure will be happy to sell you a worthless "warranty" at extra cost. You'd be much better off with a private seller.

Posted by: @squid1024

I'm strongly leaning towards a Civic, Accord, Corolla or Camry.

For $5000? At a dealer? Good luck with that.

Posted by: @squid1024

I like Subarus and we do live in the northeast

With your budget you'd be looking at older Subaru models that are prone to head gasket failure which costs $$$$ to repair.

Posted by: @squid1024

Any recommendations or what cars/years I should specifically avoid? 

That's a tall order and the unfortunate answer is going to be "most of them".  Certainly you'll want to avoid the domestic U.S. brands as well as Hyundai/Kia. Some models of Toyota and Honda should even be avoided due to inherent problems. See the FAQ and search the board for details. You can also get an idea of failure trends by going to sites like carcomplaints.com and plugging in the make and model you're interested in.


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I'm not a mechanic, but I'm in a similar situation - looking for a replacement car that is going to last but I have little money to spend.   

I have used vehiclehistory.com to look up the engine for the particular car I'm looking at, then going to motorreviewer.com to read up on that engine and problems it has had.  I also go to carcomplaints.com to see what problems owners have had with that particular car - as Chuck Tobias suggested. 

This information helps me know what I should be asking when I talk with the salespeople or the owners.  Knowledge is power!  Just thought I would share what I'm experiencing ... still have not found the right car!


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I have never purchased a vehicle with a warranty. Warranty's are only as good as the person backing it up. They can make any excuse to get out of paying for repair work.

I like to thoroughly check out a vehicle, and know if it has any common issues. I look up reviews like on edmunds to see what owners are saying, I won't buy a car if it has owners saying that the engine or transmission have issues, or anything else big.

Once I have found the specific type of vehicle, and years that I want, I start looking. For example, 4th Gen toyota 4Runner.

When I find one that seems to be a good one, I get as much info on that vehicle as I can. How many owners, any records, maintenance records etc, and a good inspection.

I have never had any major issues in any car I have had. The biggest expense besides the normal, like brakes, was an AC for my 2005 Matrix, that had 210k miles on it. That cost about $1K.

A warranty is like having good air bags and seat belts in a car, when a big issue hits, you hope it is there to help you.

I prefer to get ahead of potential issues as best I can, by buying cars that are not prone to the big issues.

I bought the 2005 Matrix with 191k on it, 1 owner, for $2800 a year and a half ago. I have 225k on it and have a total of about 5k in it, and I did some custom TLC to it, like new suspension.

I also have a 2005 Vibe, and have about the same amount in it. However, it will eventually need some of the wear items like AC, alternator, starter etc, but so far, it is running well, I bought it at 127k miles for $3800. 

For me, private party is the way to go.

 


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