Used Car Advice

[FrugalTexan75]

So ... I'm suddenly without a car. My 97 Honda Civic with about 147k miles decided to blow a gasket today, and ... I'm done. The car is worth less than the repairs would cost and I'm tired of putting money into it.

So ... I am looking at a "new" car. I have roughly $6k available to put towards a purchase of a new vehicle. Looking at Auto Trader in the $4k - 6k range, the majority of the cars were *really* high mileage (more than my defunct car, but in better shape.) So I upped the range to $9k. I'd really hate to take out a loan, but $3k could be paid back relatively quickly, probably within a year or less (depending on my tax return.)

These are some of the vehicles I'm looking at - most interested in the Versa, but am curious what opinions others may have. (All of these would involve a drive of 90 minutes+ to even test drive.) I'm most interested in longevity and mpg - do not care about resale value because whatever I buy will be kept til it dies or the maintenance becomes too much. (I had my Honda since it was brand new in 97.)

I live 30+ miles from the main town where the grocery shopping is, as well as my church. There is no public transportation here. So I *must* have a good, reliable car with *good* gas mileage.

Thanks for any suggestions!

2007 Suzuki Forrester $7,498

2005 Saturn ION $8,998

Used 2004 Honda Civic Hybrid $6,998

Used 2004 Honda Civic LX $4,500

Used 2002 Honda Accord EX $7,900

Used 2007 Nissan Versa SL $8,950

Used 2005 Hyundai Accent GLS
$6,995

[Marius]

My two cents worth

I would rule out the Saturn and the Hyundai--their reputation and reliability do not compare with the likes of Honda. I'm assuming you meant Subaru Forester, not Suzuki. I like Subaru's a lot. We own an '09 Legacy, and it is a terrific car. Being in the Northeast US, we like having an all wheel drive. The down side is lower MPG in city driving due to that same all wheel drive. Repair costs to the drive train might be more, too, if there is ever a problem. So of the cars you named, I'd recommend the Civic if you don't need the Accord's larger size. Also, I'd say buy as new as possible without putting yourself too deep in debt. Personally I'd stick with the gasoline engine and avoid the hybrid. Otherwise you might get a rude shock regarding upkeep somewhere "down the road". Depending on how sophisticated a driver you are you might consider adding a Mazda to the list--a "3" would likely be comparable. We had a Mazda several years ago, and it was an incredibly tough, good-handling machine.

My experience with Nissan lately is that they are unrefined and overpriced compared to Honda and Subaru. (I do miss my 1990 Stanza, though. It was a heck of a car!) In my opinion they put a lot more effort into style, and not enough into improving the performance and handling of the car!

Anyway, my opinion is only worth what you paid for it! Good luck and happy motoring!

[snafu]

I suggest looking at the Lemon Aid Best Used Cars [Phil Edmundston] at your library to learn of weaknesses and compare the repair records of your choices. Since Hyundai hired Honda's Quality Control team, their Accent & Sonata improved dramatically. I suggest looking at KBB to review their suggested prices. Check with your insurance agent to see if there are higher rates for any of the cars on your list. Brush up your negotiating skills and you can likely do a good deal at this time of year. Most people are focused on holiday spending so their aren't many buyers kicking the tires.

I wouldn't buy a Saturn nor Suzuki product; Subaru makes a terrific car but I'd check to make sure it can be serviced at your favorite shop and not need often more expensive dealership servicing. If GLS means 'sport' model, it will have a harder ride/firmer suspension. Personally I love Accord but it might be more expensive to operate than you expect. Have you looked at Honda CRV?

[BMEPhDinCO]

So ... I'm suddenly without a car. My 97 Honda Civic with about 147k miles decided to blow a gasket today, and ... I'm done. The car is worth less than the repairs would cost and I'm tired of putting money into it.

Used 2004 Honda Civic LX $4,500

Used 2007 Nissan Versa SL $8,950

Those three would be my pick from your list. A hybrid isn't good to buy old, it's expensive to repair. The Hyundai would be better newer, back then they had too many issues.

I am surprised you don't have a toyota on this list... here are a few that would work (not too old, not too high mileage, not sure if you can drive a stick so didn't narrow that down).

Cars for Sale: 2005 Toyota Corolla LE in Show Low, AZ 85901: Sedan Details - 334144539 - AutoTrader.com

Cars for Sale: 2005 Toyota Corolla in ALBUQUERQUE, NM 87123: Sedan Details - 331302922 - AutoTrader.com

Also, you can usually negotiate down, don't forget to add taxes, and expect any Honda or Toyota <2008 to last over 200k miles. Also, look on craigslist, etc for other candidates. Finally, a NEW versa or similar should be $10-12k so keep that in mind (ie, if you are going to pay $9k, it's worth another $1-2k for a NEW car).

[FrugalTexan75]

Thank you both for your replies. I've decided against all the cars on the list I put here. My family is insisting on me getting a newer vehicle (and have put their money where their mouths are .. so to speak.) So I am looking at:

2010 Nissan Versa - 41k miles, $10,950
2011 Nissan Versa - 37k miles, $12,200
2011 Hyundai Accent - 36k miles, 11,999 (40 months left on warranty)

Neither of the Versa's have a warranty left. I have ridden in a Versa - long distances - and that is what really put me onto them. I've had a Hyundai before, and it was a good little car. The 2nd and 3rd vehicles were rental vehicles, so I'm not sure what to think on that. Also, all the dealer sites I'm coming across have the "no haggle" concept which is annoying.

Whatever vehicle I get, I will keep for at least ten years. (I did look into Mazda 3's - I rented one a few years ago and really liked it. But there were none available in my area.)

I'm going into ABQ on Friday to look at the three cars I mentioned, as well as to see if I find anything else. My plan is to buy on Friday - I can't be without a car for very long here (currently borrowing a friend's car, but they need it back by no later then Sunday.)

[FrugalTexan75]

Those three would be my pick from your list. A hybrid isn't good to buy old, it's expensive to repair. The Hyundai would be better newer, back then they had too many issues.

I am surprised you don't have a toyota on this list... here are a few that would work (not too old, not too high mileage, not sure if you can drive a stick so didn't narrow that down).

Cars for Sale: 2005 Toyota Corolla LE in Show Low, AZ 85901: Sedan Details - 334144539 - AutoTrader.com

Cars for Sale: 2005 Toyota Corolla in ALBUQUERQUE, NM 87123: Sedan Details - 331302922 - AutoTrader.com

Also, you can usually negotiate down, don't forget to add taxes, and expect any Honda or Toyota <2008 to last over 200k miles. Also, look on craigslist, etc for other candidates. Finally, a NEW versa or similar should be $10-12k so keep that in mind (ie, if you are going to pay $9k, it's worth another $1-2k for a NEW car).

---
Actually, I have looked at what a New Versa would cost, and they start in the $16k range, before adding packages.

I'll have to take a look at your Toyota links, although I am now looking towards 2010-11 cars. I'd love to get another Honda, but to get one that is 2008+ AND less than 60k miles puts me well over $12k which I'm really trying to avoid.

** I can't drive stick unfortunately. I have asked around here if someone would teach me, but no one HAS a stick who is also willing to teach me ...

[creditcardfree]

I think at least one of our vehicles had been a rental. It worked great for many years before it was totaled in an accident. I wouldn't let it sway you away too much. Good luck finding that 'new' vehicle.

[MakeAStash]

Mr. Money Mustache wrote about some good selections earlier this year http://www.mrmoneymustache.com/2012/...-smart-people/

[FrugalTexan75]

I think at least one of our vehicles had been a rental. It worked great for many years before it was totaled in an accident. I wouldn't let it sway you away too much. Good luck finding that 'new' vehicle.

Thanks CCF. I've been doing some research on rental cars and for the most part it sounds like they're not a bad purchase - you just have to keep your eyes wide open. (I have checked the CarFax reports on all the cars I was interested in, but none of them seem to really tell you anything much -- just "vehicle serviced", not what was done to it, etc.)

[FrugalTexan75]

Mr. Money Mustache wrote about some good selections earlier this year Top 10 Cars for Smart People | Mr. Money Mustache

Thanks That list actually is what I started with when doing my car research. Unfortunately the cars on the list/years/range either aren't available in a 200 mile radius of where I am, or are extremely high mileage. If I could bike 35 miles one way for my town trips (along a super busy freeway with little to no side roads) then I could go with a cheap, high mileage car. Unfortunately, I'm nowhere near that point.

If my car had just lasted another 6 months, I would not be in a position of needing to borrow any money for it. Life happens though.

**I did find one of the cars on MMMs list at carmax - a 2012 version for $12k. For the life of me it's make/model is escaping me right now. I may take a look at the Carmax lot if the first car doesn't work out.

**Toyota Yaris That's the name I was trying to remember.

[bjl584]

I'd choose the 2002 Honda Accord.

Larger car, low miles, plenty of options. 10 years old, but that isn't as important as it used to be.

[nimisht]

Have you considered a lease?

[elessar78]

I just went through the auto loan process (didn't end up using it) but most banks will not fund anything over 80,000 miles. Or they will jack up the rates to not make it worthwhile. The rates go up as the model year gets older too.

So you're financing options may be limited as well.

Also, the smaller the amount you're borrowing the higher the rate, but if the principal isn't very big and the duration isn't long then the argument is moot.

$7900 for an 02 Accord with 50K miles on it is a fantastic price. You're essentially buying a new car—that's really just break-in for Hondas. Also if it's in Texas you probably don't have to deal with salt and rust as much as up here in the Northeast. Not sure if it's the same, but out in Arizona cars are essentially preserved by the dryness.

[FrugalTexan75]

Thanks everyone. I ended up buying a 2010 Toyota Yaris with 47k miles on Friday. I test drove a 2011 Versa with 37k miles, but liked the Yaris so much better. So no more car shopping for me for a long, long time (I hope!)

I did get a small loan at 1.9% for 36 months, although I plan to have it paid off in a much shorter time period. Even so, the co-owner/salesperson told me that it was the lowest Finance Charge he'd ever seen. I told him that it would be even less in the end, since I don't intend on taking 36 months to pay it!

[MardenI]

Yes, you're right.

If it is possible and affordable, the faster you get rid of the loan, the better.

Good luck! with your new car and take care.