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it seems like the more i search online, its much harder to buy a good car for $5000. in the past it was doable, but now its seems like 8000 is the new 5000.
criteria: no body damage, 120k miles or less, and less than 10 years old or less.
around here, i see 2003 accords with 200k miles still selling for 5000.
Back in the day- In my old rural neighborhood...the guys would by a car every couple of weeks if need be- It was the 50 dollar car....50 bucks was the going rate for some old wreck that was still operational. Then years later the going rate was about 12 hundred...then up to 2000...and then car lot prices of around 5000....I would not say that the 5 thousand dollar car is gone...I am sure you can still score something privately for less.
I see lots of good cars under $5000, Don't limit your self to a set criteria. Age/Mileage of a car is nothing, its condition you have to look at
If the car has a lot of miles on it--- it does not mean much if it was maintained. Just have a listen..You can tell if the motor was kept in clean oil...an engine that is ready to go is hard to hide.
I see lots of good cars under $5000, Don't limit your self to a set criteria. Age/Mileage of a car is nothing, its condition you have to look at
i get what your saying, but in the end, if i get anything over 150k miles, and i drive of 15,000 miles annually, by 5 years i will have 225k. most cars starts to go downhill at 200k+, and this is coming from a friend who owns a auto shop business.
it seems like the more i search online, its much harder to buy a good car for $5000.
in the past it was doable, but now its seems like 8000 is the new 5000.
I've had this same conversation about $1000 - $1500 cars
Quote:
criteria: no body damage, 120k miles or less, and less than 10 years old or less.
Yeah... $1000 used to be enough; maybe $1200. And not that long ago.
Sometimes another $500 for tires or some brake work and probably another $500 the next year.
But still plenty cheap enough for a commuter beater or for the kid to get to high school in.
Cash for Clunkers did that market in.
Now the low end starts at $3000 for anything worth starting up with.
$5000 a few years ago would have gotten you a rather nice specimen or something unusual.
Don't know where you're getting $8000 from.
Quote:
...most cars starts to go downhill at 200k+
Most cars start to go downhill well before 100,000.
The discussion is about the cars which were well cared for and haven't done so.
There is no reason to believe these won't go another 100,000 miles with ordinary care.
Of course they'll also need all the common servicings and wear items replaced and a few extra's too
Tires, brakes, bearings, shocks and everything else don't wear any less at 140,000 vs 40,000.
Quote:
if i get anything over 150k miles, and i drive 15,000 miles annually
Then you'll need unload it sometime in year three and start over. Plan for it.
Give it to a kid down the block... it's paid for itself 3X over by then.
Last edited by MrRational; 07-23-2013 at 08:16 AM..
There may be a few good ones left under 5k, but times are different. 80's and 90's cars are nothing like they are were in the 2000', to today. Price as well. They do cost more, but we are squeezing much more out of these cars today.
Most maintained cars nowadays will see well over 200k. I see pickup trucks all day long over 250-300k.
My truck is an 01 with 145k on it. Powertrain wise, looks, sounds, and operates as if it were still brand new. It was just maintained through its life. And when one goes, I can rebuild or replace both for under 3500 and have it for another 6 or 7 years.
I dont think its just cars, but everything is a bit more expensive now.
You can thank "Cash for Clunkers" for reducing the supply of used vehicles. The demand for used cars didn't go down, but the supply did--hence the higher prices.
You can thank "Cash for Clunkers" for reducing the supply of used vehicles. The demand for used cars didn't go down, but the supply did--hence the higher prices.
how long do you think the market will correct itself? another 5 years? while i didnt like the fact that its much harder to get a decent car, but the good thing about the program is, my current car, i bought it right before the clunkers program, and now i can still sell the car for the exact same price.
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