Used car on a 2k-3k budget (lease, insurance, luxury)

[supa scoop]

This fall I hope to be finally upgrading from my 1990 Camry. Fantastic little car that has kept me mobile for years, but it will be time to upgrade soon.

I've mulled over options on Craigslist and some options I like in the range:

2004-2006 Ford Focus (I really like the ZX5. From what I understand the Duratec engine is top notch of the Focus engines. The Zetec is, from my reading, also a decent engine. It's the CVH that is the junker, right?)

2003-2006 Hyundai Sonata (Love the look but have really no grasp on reliability. Extremely mixed reviews.)

Mazda 626 or Millenia (Again, haven't read up much on these, just noticed they are in my price range.)

1998 - 2001 Honda Civic (Since Hondas hold their value so well, a lot of newer or low mileage Civics are priced too high.)

1998 - 2001 Toyota Camry or Corolla (^ Ditto.)

My needs are simple..

- Lowest risk of headaches. I'll be commuting quite a bit if I go back to school for teaching, so reliability is a #1. I won't be putting insane amounts of mileage on, but small, frequent commutes.

- MPG. Prior to my Camry, I drove a 1987 Pontiac Firebird. The Camry is a V6. I have never driven a very fuel efficient car. I dream of 27+ MPG.

- Size. I don't mind smaller cars, but I'm 6'2. Having some extra room would be nice. I have driven a friend's Focus and it is decent in that regard.

As far as budget, I say 2k - 3k because that is what I should have in hand. I am also considering putting money down on a dealership used car, as I should be able to swing a decent monthly payment. I still would not like to step into anything that's total value is over 5k - 6k. Even that is a stretch, the closer to 3k I can get the better, but I also need to make sure I get a car that lasts.

Opinions on the best way to go would be appreciated, as well as any opinions on the individual cars. I'm very curious to hear more of the ZX5 Focus.

[jaypee]

For 2-3k, I doubt you will have any good options for a 1998-2001 Honda or Toyota or 2004+ Focus for that matter.
I'd target the Geo Prizm or Ford Escort for reliable commuting.

[supa scoop]

It was an oversight to not mentioned that my budget may be flexible. Come September my work begins, possibly quickly accelerating to a full-time pace (I substitute teach), and depending how long I put off biting the bullet on a new car for.. I could have over 3 grand to spend.

I mainly wanted to get some opinions on first hand experience with the cars listed, the ZX5 being the model I'm enamored with now in my limited research.

[hensleya1]

Hi supa scoop--

For $3,000 or less, I suggest a 2000 or so Chevy Prizm. It's basically a Corolla, except it has Chevy badging and a GM Delco radio set. But because it has a Chevy name, the resale value is that much lower. Other than that, the only real way to get a decent car for that price is to find a reputable guy who does rebuilt cars.

[Caleb Longstreet]

1999-2000 camry if you can find one with reasonable miles on it.....roughly 130-150+ thousand by now. I drive a 99 and I swear, this thing is the best car I have ever owned for the same reasons you mentioned. Uber reliable, THE best air conditioning, very good transmission....get the 4 cylinder automatic....if you can find one in good shape it will run between 3.5 and 5.5k and worth every Penney.

Skip the ford, chevy, dodge exercise....you will get one cheap but end up putting as much in repairs and aggravation as you did buying the damn thing. Don't mess with what works. Find a clean camry and skip the rest. Period.

[TheViking85]

If your car is running fine I'd hold out as long as possible, save up, and wait until I had some more cash.

The used car market is a funny beast these days, in some cases used cars cost more than their new car equivalent, doesn't make sense but that's how it is, the market your shopping in right now is very limited and you really need to be knowledgeable about cars and how to spot a good and bad one to get one that will be reasonable reliable.

[JoshB]

As the Viking said hold onto your car, I've been tempted to drop my 93 Camry V6 lately as well and figured I'd drive it till the wheels fall off. Although VW does have some attractive lease options.... I'll save my money and drive my Camry. Just keep your car, enjoy the inexpensive insurance and someday get something nicer.

[Coldjensens]

Here is what my kids have found:

2003 Saturn Ion $500 with 214,000 (give or take). Now at 220,000. Give or take. Cost to date $500 (purchase price). Gets 36 MPG mixed driving. He loves this thing. You can eat a sandwich while accelerating to 60, but the gas mileage is great. They are cheap, it was $11,000 new in 2003. Only had it maybe 5 months or less so far.

1992 Lincoln Town Car About $2200. Repair cost to date $460. Lots of little things including a new windshield. Brake pedal switch, brake job (done by brother), Mileage 26 highway about 18 city. Not sure where she ends up mixed driving. She loves loves loves this car. It is basically a limo with a giant sunroof. Her friends always ask her to drive. Great ride, way comfortable for six people. Trunk the size of an apartment. Going strong for a year plus.

1999 Grand Caravan $2200. Brakes, calipers, struts u-joint window motor then transmission went out after 6 months. Eventually scrapped. We liked this van so much we bought another one. (They can't all be bad can they?) 1997 Grand Caravan $1800. Struts (special expensive ones for rotted out strut towers, brakes, calipers, transmission (repaired this one $1600), calipers again, some other things fixed, then we stopped fixing it. Now lots of things work only intermittently seat, radio, heater blower, windows, one door will not open, transmission on the fritz again, serpintine belt comes off every time it rains and you drive through a puddle (kit fo fix this defect is avaialble for about $250 installed). Rear end makes grinding sound. One seat belt will not work. Marvelously well planned vehicle. Could be aboslutely wonderful excpet for very poor excution of the plan. The engines seem to keep chugging away, it is just everything else that breaks - everything.

1994 Thunderbird GT. $500 100K miles. Trans was on the fritz at purchase. Still working though. windshield, snow tires, brakes, oil change, some minor electrical repair, replaced a visor. Seats are kind of messed up and do not move well (replacement available for $50 at scrap yard). Overall this is a decent car. A nice blend of luxury and performance. It is heavy though. Rides nice. 26 MPG highway. 15-17 city. Average around 22. When the trans goes, we can replace it with an F-150 trans for $1600, but my son thinks he can convert it to manual for $900.

2003 Ford Ranger. $4000 not many problems except a deer running into the side ($2500). Just maintenance, tires and brakes. The transmission is on the downslide though. We bought it at about 130,000 miles, it is now around 170,000. We beat the heck out of this truck, over load it, drive all kinds of crazy places. It just keeps going. My brother had one he sold at someting like 320,000 or 350,000 miles. My father had one scrapped ar 220,000. These seem to be pretty rugged.

I have a 1995 Camaro Z28 that is almost in your price range (worth maybe $5000 to $6000 at best, probably more like $4000). I would not recommend it. It has about 100,000 miles. I have sunk at least $5,000 into repairs in the last 18 months. I love it enough to keep fixing it, but not a good choice for someone on a budget. Besides the city gas mileage ranges from 8-18 MPG. Highway is up to 27 or 28 though.

You never know what you will end up with. If you told my son a year ago he would be driving a saturn Ion, he would have laughed at you. After riding in this one for a crew season, he started saving up to buy it. He loves the freedom the great gas mileage gives him.

[supa scoop]

Well, as of now that is the plan.

I purchased it from an Uncle about 5 years ago. Prior to me, it had been sitting in his yard for a solid 5-6 years. I had to get the head gasket replaced to get it running. It has served me well but over the years has required 2 new radiators among other things and recently it has been overheating frequently and leaking fluids.

My plan of action is to take it to my mechanic, and if it's within reason financial just get it back running in good shape. I plan on getting the most out of it, but at the same time I am weighing my options. I will no doubt be trying to get together as much money as possible though.

[vegaspilgrim]

Last year I sold my 1992 Camry (2 model years newer than yours, but 3rd generation vs your 2nd generation model) to an individual via a Craigslist ad. Overall pretty good condition, 125k original miles, had a BUNCH of repairs done recently, had a few more issues that were due soon for replacement/repair (timing belt, oil leaks), final sales price was $2,100. So if you're trying a find a car in the $2-3k range it may only be a few years newer than what you have now. Plus, a whole sea of unknowns with buying any used car. You're not going to get an upgrade unless if you cough up a whole lot more dough (or get a loan on a new or CPO used car). If you just want a lateral move, then a 92-96 Camry like the one I used to have might be a good idea. But do expect to put in some $$$$ and time into maintenance and repairs. If you don't have documented proof that the timing belt was replaced within the last 60k miles/10 years, then assume it wasn't done, and get it done ASAP.

And whatever you do, if you're looking at <$10k cars, you should be buying from a private seller, one who has maintenance records, not a dealer-- if you value your money, that is. A $5k car at a used car dealership is likely only worth $3k car from a private seller. A $3k car at used car dealership is likely a total pile of junk.