How to buy a reliable used car to save money?

[FirstTimer90]

My neighbor and I were talking about debt over this past weekend. We talked about buying used cars rather than new cars and keeping the car for many years, but she is now having some car troubles. and though she has been driving her used car for many years, she owes more than it's worth - she had poor credit so her interest rate is locked around 7%

I have heard from many people on here and other places that a quality used car can be found for around $3,000-$5,000 but I don't know enough about cars to give her any more advice.

Are there any websites that people use or does anyone have any tips on buying lower cost used cars? Also, she is worried her car will break down as soon as she drives it off the lot - are there ways to avoid this fear in the way of a warrantee or things to check for?
thanks to all in advance for the help here.

[btctony]

If I were buying a used car with no warranty of any kind, I would make sure to take a trusted mechanic with me to check it out before the purchase. Even if you have to pay the mechanic for his time, I would think it would be worth it.

She could also look for certified pre-owned vehicles. I think most of those come with a warranty. Personally I would look for something that is going to last, like a Toyota or a Honda. Not sure you'll find something like that in the 3K-5K range though.

I bought a new Toyota Corolla a little over five years ago. It's paid for and should last another 5 years. The point is ... The money I've saved by not having a car payment over 7 years will be way more than enough to pay cash for another new 15K car that will hopefully last 10 years and when I'm ready to buy yet another car in 15 years, I will have saved the equivalent of 10 years of car payments, which will be way more than enough to pay cash for another 15K car which will again hopefully last 10 years.

I know a lot of people who probably have a different opinion and will say "buy cheap used cars". However, if you're having to replace or repair that cheap used car frequently, I don't see the upside as opposed to paying cash for a dependable new or 1-2 year old car that is going to last you ten years.

[FirstTimer90]

I know a lot of people who probably have a different opinion and will say "buy cheap used cars". However, if you're having to replace or repair that cheap used car frequently, I don't see the upside as opposed to paying cash for a dependable new or 1-2 year old car that is going to last you ten years.

that is a very good point. thank you.

[jeninebaker]

I have just bought a used peugeot from autoreflex as they have such used cars in good conditions and their selling prices is also quite reasonable.

[bjl584]

How much money does your friend have to work with?

$3000 to $5000 can get you a decent used car, but to get something approaching new status that won't give you any trouble whatsoever for years to come may take more money.

[George707]

For me, buying a new car is the biggest waste of money imaginable. I have always run used cars and while I'd be lying if I said there have never been issues, overall its been remarkably trouble free. The reliability of cars is such these days that a 10 year old that is well serviced and from a good home is quite likely to last you for a further 5 trouble free years of motoring. Especially true if you stick to Japanese or the more reliable European brands.

I think often it is a lack of knowledge about cars that prevents more people taking this option and saving money. Now its true that when I first owned my own car I was quite capable of servicing it myself and I still do basics like oil changing and the like. However, the reality is that now even 10 year old cars are beyond me if anything complex goes wrong. - which leaves me in the same boat as anyone else and dependent on my - thankfully - reliable local garage on the rare moments I have had a problem.

I agree with the other advice posted about getting the car thoroughly checked out. As long as you do this and are not super unlucky, there's no reason why you should have problems.

[Danawolmer]

One thing that comes to mind is that never by a used car from a repair guy who has done all kinds of tweaking and funky wiring in it. I once bought a car just like that and although worked great for a long time it was impossible to fix afterwards.

[97guns]

1) buy a japanese car, they can go several hundred thousand
2) check oil, most people do not change oil, it would be thick and black
3) does it smoke? caused from not changing oil
4) test drive it, if it drives good buy it

[couponkingpeter]

Yeah be sure to take a mechanic or knowledgeable friend with you.

[tripods68]

Yeah be sure to take a mechanic or knowledgeable friend with you.

I've own tons of used cars over the years. Sometimes buying a cheap used car often buying "problem". My advice is unless you some experience/knowledge in repairing old cars that you can do yourself (most people don't) I'd buy a used car that is still within warranty period reliable like Honda or Toyota. You may pay more than 5 grand, but you don't have the headaches of expensive repairs.

[theoracle]

I've own tons of used cars over the years. Sometimes buying a cheap used car often buying "problem". My advice is unless you some experience/knowledge in repairing old cars that you can do yourself (most people don't) I'd buy a used car that is still within warranty period reliable like Honda or Toyota. You may pay more than 5 grand, but you don't have the headaches of expensive repairs.

I agree... buying a cheap used car is a false economy as you often end up splashing out quite a lot on expensive repairs. Age, mileage and prior service history are all important but the truth is its a gamble and you really don't know what you're buying!

[offbeatmove]

Buying a used car can be a great saving tips if don't have that money to buy a brand new one. Just put it in mind that if you buy a used car inspect it carefully, test drive it, and of course it comes in handy if you have a friend who is knowledgeable about engines and cars.

[SpruceMoose]

Beaters

I'm currently driving around a car I bought for $3k almost 4 years ago. My husband has one that he bought for $2k 3 years ago. Both are very reliable. The most expensive thing either has had done to them was the suspension work, but my husband was able to do it by himself or with the help of some backyard mechanics on CL.

I don't recommend this for people who have no idea what they are doing about cars. We learned A LOT about how cars work, how to diagnose problems, what warning signs look like, how to evaluate what is worth repairing, learning how to recognize car scammers, the traits of a good owner, and avoid title issues. It can be a real minefield out there if you aren't prepared. There are good cars, but you have to dig through a lot of junk to find them.

On the upside, I have never gotten the math to work that it would have been better to finance a car than drive around the beaters we have now, even with the repairs put into them. NEVER. So I understand doing it from a convenience standpoint, but financially for us, it has never made any sense.