Quote:
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Originally Posted by Agamemnon
Sometimes people aren't part-time mechanics, and find value in a slightly more expensive car (and newer), as it may save them money/time/hassle when the 1992 Golf they bought for $2500 craps out on them.
More money doesn't always = more reliable... but less money doesn't always = smarter way to go.
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I don't buy that at all.
I've had less than $1,000 of work done on my 87 Buick Century and I've owned that car for just under 5 years (bought it for $2200). If it ever craps out on me I'll just buy another one. It'll take a lot of cars before my spending comes anywhere near $12,000.
I owned a Neon for 5 years. I bought it for $3500 and paid approximately $500 per year in maintenance on it. Eventually it was so beat up to **** that I sold it to a wrecker for $200 and bought a mini-van for $4,000. That was just over a year ago, and I've paid nothing in maintenance.
So, over the last 5 years I've spent no more than $13k and I've owned 2 cars. 100 bucks says there aren't a whole lot of $12k cars that will cost you less than $1k in maintenance over 5 years. Not to mention the interest you're paying on your car loan. And the way cars are built these days you probably have to buy another car after 5 years to replace that $12k car you bought to save money.
Do your research, get the car inspected by someone you trust, and you will very rarely suffer for buying a cheap car. Unless you consider it suffering by looking as poor as you really are.