I have always bought all my cars from GSA Auctions. Have never had to pay over $7k for low mile cars.
Now seems like you can't get anything under $15k which seems crazy. Last car I bought 5 years ago was a 2009 Jeep Patriot with only 22k miles for $5500.
Looking at like either a new Subaru Forester, Honda CR-V or accord , Toyota Rav 4 or Camery.
Buy it is very hard to justify spending $30 to $35k on a new car.. vs something low miles 5 to 7 years old for like $15k except the only options are basically Ford, or Hyundai which I'm not really thrilled about and no idea how we'll they were maintained.
Any advice on how to get the best value on a new or used car? Not interested in anything high miles. To old to deal with headaches no matter the savings.
Need Advice on Buying New or Used Car??
byu/lostandalone2023 inFrugal
Posted by lostandalone2023
4 Comments
Are there any local public auctions you can attend? We’ve bought several past few years. I’m in So. Cal and we have several within 100 miles.
Everyone said buying a new car is for chumps.
Got a 2016 Corolla end of model year Christmas of 2017 for 18500, 0% at the time. Don’t regret it once. It’s held half its value despite being almost a decade old and hasn’t given me a single problem.
Sadly Toyotas are not the bargain they once were. If I were in the market I think the Camry is 100% worth the asking price, but 6% is the best you’ll get if financing. it’s a bad time to be buying cars.
Nissan Versa can be had for just above 20k new. . . But it’s a Nissan. Ymmv. The Hyundai Elantra would be a better bet for my money, but expect that to push closer to 25k. Corollas go for about the same price. A Corolla hatch would not be bad new on the lot.
If you’re handy, buying used can be a good bet, but be prepared for the buying process. Find a buyer who is willing to get a pre-purchase inspection. arrange it with a local shop. Have them lay out any recommended repairs and use that to haggle price.
Lots of options, lots of consolations. Buying a car is like entering a relationship. Some are better than others, and all are commitments. Do your research, and just take the plunge on what feels right. Good luck.
It helps to look for models no one wants. I bought a Buick LeSabre for $1300 a couple months ago with only 127k miles. No rust. Nobody wants to buy an old grandpa sedan though.
It was older, a 94, but you can still find the 2000-2005 models for $3000 all the time around me.
In 2019, I bought a 2018 Chevy Cruze with 18k miles for under $14,000, from Hertz Rent-A-Car. I also got a good deal on the loan. I have 800+ credit but they got me a lower interest rate than what I got on my own from the same bank. I’m sure they make a small profit from getting me the loan, but it’s not like getting the financing from a dealer where they try to rip you off, everything with them was honest and straightforward. Now has 91k miles and the only expense other than minor things like oil changes was that the tires had dry rot and I had to replace them a few years ago. Even original brakes. You won’t get such good deals now, but the rental car websites might be worth looking into. My biggest concern when I bought it was if people illegally smoked in the cars (they were all non-smoking), but I sniffed around a lot and smelled no smoke. I’m really happy with the car but maybe I’ve been lucky.