The transmission is dying, and it will cost $800+ to get it rebuilt.
The struts are bad, and the steering really sucks.
Trunk has hard time staying closed in 90+F weather.
A/C has never worked, and it doesn't want to work.
Rotors are warped and the wheels make a horrible noise.
This car has potential, but the transmission really sucks, and the struts are bad. Can't seem to get the alignment to stay either. I suggest you do not get this car if it has more than 100,000 miles on it.
Why would anyone buy a car with 100,000 miles??? I buy a new car every year to insure I have the latest technology and contemporary styling. If you do the same, I doubt you will encounter any repair issues.
So you buy a new car every year and think everyone else should do the same. If so who would buy your old one?
It's your choice: you pay an incredible amount for depreciation, because the loss of value is extremely steep from new to 3 years. Then it starts leveling off. How much do you pay for a new one and how much do they give you for a trade in? You might be looking at a $8000 hit every time. That's hardly a bargain.
On the other extreme is the car that has 10 or more years and much more than 100K miles on it. Your purchase price may be low, but you have to figure in some major repairs.
To me it seems best to buy a 3 to 4 year old car with about 60K miles on it, take care of it and drive it until about 160K or expensive repairs are required. Your average annual cost for the vehicle (depreciation + repairs/ years of ownership) may run as high as $2000 or as low as $1000. A well chosen vehicle with more than 100K miles can make a lot of sense in particular if a person is not very flush with cash.
To the commenter above. Studies have shown that if you were to buy a new car and keep it for 15 years, repairing things as they break, you are saving thousands and thousands of dollars over leasing a car every year or two.
Buying a new car and returning it soon after (leasing) has got to be one of the worst investments, short of throwing your money away. Its like renting a car and returning it a year later.
I don't know how you can stand making car payments every month of every year of your life. I like to purchase a car, and drive it for a considerable amount of time in order to get my money's worth.
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