So, I currently drive a car that’s been giving me some trouble. It’s a 1993, previously used. I just got it out of the shop today–it’s tried to break down on me pretty frequently during the last year. The air doesn’t work, but given that I’m a college student, I don’t really wanna shell out the cash to fix it right now when having the windows down is a tolerable alternative. It was also shaking like crazy when I went to start it, but the guy checked it out for about 5 minutes, and it calmed down. I’ve been calling it a POS for a while now.
I don’t drive it in school, just during the summer–I’ve got one part time job right now, and I’m about to start another soon. My campus is nice enough that I don’t have to rely on a car to get me anywhere, save for to and from it. I figure that three years from now, I’m gonna need a different car–this is not the type of car I want to move out with, if it cooperates with me for that long. Don’t get me wrong, I’m thankful to have it, but I also feel like I should start on some course of action for buying another car eventually.
I’m hoping to find a used car at that point–I know a brand-new car would be hell to pay for, and that vehicles only depreciate–so does anyone have any suggestions of what I can do right now and within the next few years to prepare? I know saving is the key starting point, but things like financing and loans are confusing; I’m not sure how much I should save…especially since I’m about to work two part-time jobs just to get funding for college.
If you are willing to drive a larger gas guzzler (ie a boat) you can probably get some excellent deals around $ 3500 or so for cars with fairly low miles in good condition . Unless you are very handy or dating a mechanic, going much less than that (IMO) gets kind of chancy reliability-wise. If you want a smaller, more economical used car, which are in much higher demand, you are going to pay through the nose.
Well, you do seem to have lots of time to consider the purchase.
I advise that a person home in on a particular model vehicle and study that vehicle for pricing and reviews. Google for it and look on forums. You will see the things that go wrong with it. Some models are dogs. Some burn up transmissions regularly. The idea is to know what something is worth before you go looking seriously. Be willing to walk away from anything that is overpriced. Be sure to have any vehicle inspected mechanically before purchasing. Don’t worry so much about things that bolt on like tires, battery, cracked glass, exhaust or brakes. Factor deficiencies in those items into the price. Always keep some money ready to make repairs on the new-used vehicle.
Hopefully you will get a great job at the time and buy a new vehicle.
I’d recommend investing in Consumer reports. (the online one) They follow many cars for the last 8 or so years, rating the reliability of that particular car in several different areas. It will probably save you from making a big mistake.
Do you know anyone who routinely trades in their car for a newer model, by any chance? This is a good source for a used car, they may be willing to sell it to you, as a friend, for what the dealer is going to give them in trade in.
People who trade up every few years often take good care of their cars. Also they know they aren’t getting the best deal at the trade in, if you offer to match what they get offered you could find yourself with a good deal.
We have done this in the past and it worked out very well. Just keep your ear to the ground.
Above advice is good as far as researching particular models, etc. I will say in addition that I am a big fan of CarMax as a retailer. I’m on my second car from them and I couldn’t have been happier with either. You are still subject to the vagaries of any given model/year, but as far as condition, reasonable pricing, etc., I highly recommend them. Also if you have a particular model in mind and they don’t have any locally, you CAN research and have it brought from another location for a non-refundable fee. That’s how I got my current car.