Does buying used cars even make sense anymore?

[Seafood Junky]

'0'% financing is great if you can get it. Makes a new car more attractive (if you can get it for a good price).

Wife and I both drive early/mid 2000s vehicles we bought new. We are dreading the time when we have to replace these vehicles. Its been great having no car payments for many years. We would much rather pay to keep them running.

So far so good (knock on simulated woodgrain plastic)...

Mike G

[skinsguy37]

Originally Posted by Parsec

thejackalope said he works for the government and later said a teacher, a cop, and fireman can't save $20k either. So I was giving examples of what each of these earn locally in MA. A school teacher must live well in NC because $44k goes a lot further in NC than $69k does in Boston. I have family in Oak Ridge which is probably the nicest suburb of Greensboro. My house which is half the size of theirs but it costs double what their house is worth

I can shed some light on this. I, too, work for the state. I make a little more than the $44,000 median salary posted for teachers. I can tell you that if you think $44,000/year is living well in G'boro, you're crazy. Maybe if you're single with no debt and no kids. But if you have a family to support, $44,000/year here is not a lot of money. And, by the way, I live in Oak Ridge. The average cost of the homes in my neighborhood is around $300k. It's going to be more than that living in the city limits. While I understand that housing in Boston might be double that, a $200k-$300k house is not cheap for someone who's trying to take care of a family on $44,000/year. Consider this, your take home pay is going to be around $2500/month. The cost of mortgage is going to be at least $1000/month. Add in health insurance for the whole family - and let met tell you, the state health insurance plan for your spouse is over $600/month. Then you have to add in the cost of your child, which is nearly $300/month. We haven't even gotten to food, utilities, clothing, car insurance, gas, and taxes. Honestly, if you're left with anything at the end of the month, it's either a miracle or you forget to pay a bill!

Point being, the OP does have a point. I can definitely back him up on that.

[boiselover]

problem I have with used cars is reliability/maintenance. I like that I can get a nicer car but honestly I'm willing to buy a basic economy car again brand new so I don't have the headache of maintaining and repairing an older car. Looking at things like the nissan versa, corolla etc. might splurge for a jetta diesel for my long highway commute

[Dopo]

I bought a Ford Focus 2005 last year with 90,000 for $4000
No issues at all with the car = great deal

[bxlefty23]

used makes sense when you aren't paying 11% interest and getting bent over on warranties

[bxlefty23]

Originally Posted by SOON2BNSURPRISE

What would have made more sense is to walk in with cash and offer them $6,000 for the Volvo with no interest rate. Then take it over to a shop and have them go thru it for maybe $1,500. You then maintain the car and drive it for the next 200,000 miles, changing the oil every 3,000 having the tires rotated every 6,000 miles, keeping up with the service during the life of the car.

Even better deal: Look for a car auction. Our friends picked up a 2007 Honda Civic for $500 at auction. They have auctions in our area each month. The current list has almost 30 cars and trucks on it. The smart thing to do is look for one that is late model and has a current registration. In California you have to pay to bring it current meaning it can cost you for each year the car was not registered.

how damaged was it?