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FYI, the Geo/Chevy Prizm and Corolla are essentially the same car.
Sounds like you'd want to avoid both models between 98 and 2002.
They ARE the same car, and they all came off the same assembly line. The only differences are in certain body trim, and some of the electronics. The drive train/engine, etc is Toyota all the way.
Haven't heard of any oil consumption issues on the 03-08 Pontiac Vibes, which use the same drivetrain as Corollas. So maybe they did get it fixed. The Vibe replaced the Prizm in GM's lineup in 2003. Due to the Pontiac name, you can often find them for sale in the $2-3K range with under 200K miles, and if they were maintained, they can last a good 300K+ miles.
I am thinking about buying a Toyota, Honda, Hyundai, Mazda or Nissan for no more than $2000. All I want is a reliable car that will last me about 3 years before I buy something nicer.
What were your experiences buying a cheap, used Japanese/Korean car? What should I look for?
Good question. At your budget, there are no guarantees, period. A Kia might outlast a Toyota at that point--you never know. Maybe you'll get lucky and find a car that's had lots of work done on it and you've then bought yourself some time before something major happens, but maybe not.
If this was 1998 and econoboxes were cheap (that recent gas price deal, you know...), then it'd be easier to guess for you. But, it's not.
Older, cheap cars are like rolling the dice. Some last forever and some become money pits. If you find a nice one, research the car on the forums and look up TSB's for that car. Take it to a mechanic for a look over.
Or......Toyota has a lease deal on on new Corolla that is pretty cheap. More than a $2000 car but no worries and free maintenance. Or......buy a cheap car and hope for the best. I've bought a few in my day. A few worked out but 2 of them cost me a fortune before I'd had enough. Repairs aren't cheap these days and it only takes one major one to double the cost of your cheap car.
My .02, worth as much.
I have purchased quite a few used cars as well and I paid anywhere from 600 -1500 . and I found that the nissans , Toyotas and Hondas were the most dependable albeit some minor repairs such as clutch , brakes , tires and that was about it . I remember one Honda civic for 800 lasted me almost two years before it went to the great junkyard in the sky . Yep two years for 800 is a steal ...Now im on the hunt after I move for another used vehicle I hope I get lucky again .
I just bought a 2001 Honda Accord with 168,000 miles 4 cylinder and manual transmission. Higher miles but the car is great shape inside and out. I plan on using it as a go to work and back car and hopefully can get a few years out of it.
You get what you pay for. Just saying. You might be better off with a low mileage recent model that you can then sell for a decent price when you're ready for your new car. Or just hold onto it until it dies, which is the recommended approach.
My experience with cheap used cars has not been as good as Jeepman91919's. If you know cars really well, as he obviously does, and what to avoid, and what to fix, and when to sell, you can make out OK. For the rest of us mere mortals, it's a crap shoot and usually you will lose.
As far as specific makes and models go, I think that a lot of less-expensive cars get a bad rap since they are often driven by inexperienced (or careless) drivers who are hard on the equipment and don't understand the importance of proper (and timely) maintenance. The trick is finding one that's been reasonably cared for by its previous owner(s).
I bought a 2001 Hyundai Accent about 3 years ago. It had about 125k on it at purchase and we put about 25k per year. Its been a great car for us and has paid for itself in better MPG, cheaper parts, and easier maintenance.
As others have noted, buying a car in this price range is a roll of the dice and you'll have to dig thru a lot of garbage to find a keeper. Our mechanic spotted a few minor things that needed doing. I also had him do the routine stuff so I knew where we were in the cycles for belt life, etc. I factored all that into the purchase price for establishing the pay-back threshold.
When this one dies, I'll find something comparable and do it again.
Heck OP limiting yourself to cars in your price range may not work well either since if you give some wiggle room on fuel economy a 2nd Gen Ford Explorer 1995-2002 can be had in your price range quite easily.
they sold millions of them and any independent/Mechanic shop can work on and find parts them and they are built of the same platform as the Ford Ranger so they are stout SUVs or a Chevy Astro Van with the 4.3 V6 or Ford Aerostar Van with the 4.0 V6..
They may not be lookers or cool but they are reliable vehicles that are cheap to work on and very DIY repair friendly thus should be able to get you through 3 years of use and heck you may be able to sell it after you are done driving it for what you paid for it.
Last edited by GTOlover; 12-29-2014 at 08:30 AM..
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