After writing Cars of a Lifetime every Sunday for the last year, I realized I have bought a lot of used cars! Not just the ones I owned, some of which I passed over writing about, but the many I have helped others to buy. I am often the go-to guy for a used (and sometimes new) car purchase. It’s hard to say if that’s a good thing. But I got to thinking that maybe someone out there on the Interweb might need some of the knowledge I have accrued (without making the mistakes it took to get said knowledge themselves). In the beginning of this three-part series I will recall several stories of success and failure to highlight the right and wrong ways of buying a used car. In the rest I will sum up the most important things I have learned. I hope my mistakes and my successes will help you when you go to look over that Curbside Classic for sale down the road.
I think I have come a long ways from the first used car I ever purchased. For example: just last year I was looking for a family wagon and saw an seven-passenger Audi station wagon advertised on the Coast. So we drove down to look at it. I was early; I was supposed to call them when I arrived and get the exact location of the car. But the owners were not answering their phone. I found it myself and gave it the once over. It was in a hard to find apartment complex parked far away from all of the buildings. It was OK looking from the outside. I waited fifteen minutes past the appointed time and finally they showed up. They were all in a Suburban and the car was supposedly the guy’s daughter’s. He said he had done some work on it for her. When I asked him how much he knew about European cars he became slightly defensive. Then, when I asked him about the history of the car and why she didn’t want it anymore he became almost aggressive! He opened the hood and I was greeted with the sight of an engine bay that had been hastily cleaned up but still had an oily sheen to it. The acrid smell of hypoid oil wafted out and into my nostrils. I told the man that a test drive was not necessary and thanked him for his time. He wanted to know why I didn’t want it. So I told him: he doesn’t know anything about it, it has no provenance, no records, it’s oily, it smells, it’s not taken care of, and it’s in a strange location. He became very red in the face but I shook his hand and wished him the best of luck. Someone can’t punch you with their good hand if you are shaking it.
Just last week I drove up to Portland, still looking for that elusive seven seat family wagon, to look at a Volvo 245. Undisclosed in their ad was that it was located at a big Volvo shop/used dealer, red flag number one. When I got there, lots of grimy guys and poser kids were milling about the garage smoking cigarettes, red flag number two. I was directed inside to find a youngish fellow waiting for me. We went out to the car which looked nice enough at first glance. I asked him if he worked there and he told me he was the stock boy. I asked him how he came about the car, I told him I didn’t mind people buying cars, fixing them up and turning a profit. He told me that’s just what he had done but that the heater core had to be replaced and so he had it done and now he would see no profit. So I asked him who’s name the title was in, he was unsure, red flag number three. Now the hood was up, and it looked good inside. But I was mostly set against buying it by now. Out of hope, I looked it over some more. My senses told me that there was bad news somewhere in this car. No water in oil, no oil in water, the engine looked OK. But next I got under it and the first thing I found was a big hole in the floor. It was rusted through in several large spot. I thanked him and told him that I would not be the man to fix those.
But it hasn’t always been that way, oh no…
The first used car I actually purchased was from a dealer (often a mistake, given the need to meet overhead costs, the generally accepted higher asking prices, and the poor reputation of used car salesmen). But I was desperate (another mistake).
Our year-old Hyundai was sitting idly behind our college dining commons in a pool of transmission fluid (thanks to my high speed driving antics) while we continued to make payments on it. As I knew nothing about working on cars, fixing the Hyundai myself was out of the question. Our insurance deductible was $500; we had $300. So I went down to the used car lot down the street. That was mistake number one: I should have kept looking.
He had several cars that were too expensive and I did not want to finance. But just as I was planning to go, I saw an old blue pickup in the grass behind a shed. I asked him about it and he said he thought it needed some carburetor work but really didn’t remember. So I asked how much if it would run? He said three hundred and come back with a battery and some gas and we will see.
I did, and somehow we got it going. I handed him over the $300 and drove off. As I pulled into the turn lane of the highway, I immediately discovered several important things about this truck. One, it handled crazily (later found that it had different sized tires and wheels all around, one being the front wheel/tire from a Ford tractor) and it had about six inches of play in the steering. Two, the brakes felt all wrong (later discovered that only the front brakes were hooked up). Three, the passenger side door would not stay shut, and four, it backfired, a lot. Down the road I went, holding the door shut across the seat.
That truck got us down to Jackson, Tennessee, and all the way up to Utah. But not without a good deal of fixing (rigging). It was cheap but could I have gotten a better deal for my three hundred bucks? I think so, after all I once had a very dependable (for a Rabbit) cks.
So what could I have done differently my first time?
Step One: Set goals and do the math:
The first thing one should do is to consider exactly what it is they need. Do you need a car at all? Cars are more than just an initial expense or even monthly payments. One should calculate the cost of ownership to include the initial purchase/down payment amount, monthly payment and/or insurance payments, projected maintenance and upkeep, and projected fuel expenditures. So if you can just walk to work, you might want to forgo a car and all its expenses and troubles altogether. But if you have a family of five and occasionally haul people to church/kids to soccer/prostitutes to johns, etc., then a Mazda Miata might not be the right choice for you. On the other hand if you are retired and it’s just the spouse and you, and you have some money to spend on an enjoyable ride, a sports car or even a large comfortable car might be right for you.
Another thing the inexperienced car buyer should do is to look into private party sales. I have often heard people exclaim that buying from a private party is risky because one does not know anything about the person one is buying from. And that used car dealers have certain standards they must conform to. It’s true that some states/countries have lemon laws and such, but those laws have specific limits of time and claim-ability. On the other hand, one can often find a private party that bought the car new and can provide complete service records with it, something most used dealerships can’t or won’t do. And a Carfax report is not service records. Further more, any Carfax style report, while helpful can only tell you a very small amount. Either way, it pays to take your time and look a lot. Borrow or rent a car if you are in desperate need, don’t buy one under those circumstances if at all possible; it’s like grocery shopping while you are hungry.
And lastly for part one; if the car is to be your daily driver (or even if it is supposed to be a project) you should consider everything it will need to bring it up to safe, legal, and reliable operation. Figure that sum up, add about 20-30% to that sum for all the stuff you might have overlooked or could not expect. And then add that sum to the price of the vehicle. That is the real initial cost of the vehicle. If you don’t have that much, look for a better car or bargain the owner down enough to make it affordable. Remember: be ready to move on and keep looking, don’t fall in love with a car, there are lots of cars out there and the more you look at, the more likely you are to find the perfect one for your needs.
In my next post I will cover research and initial inspection. Good luck until then! Read part two.
Nice article, looking forward to parts 2 and 3.
I’ve always had better luck buying low buck used cars from private parties. I know this will offend the professionals in the car business but it’s basically true – dealers are crooks, and regular people are mostly honest. And you can “read” people, much the way you read people you didn’t buy a car from. It’s harder to read salesmen because they are used to lying.
I’ve only bought one used vehicle that I had to finance. I bought it from a dealer. I paid too much (but I was in need of wheels) but the truck has lasted – I still have it. A ’98 Ranger bought in 2000.
Figure that sum up, add about 20-30% to that sum for all the stuff you might have overlooked or could not expect. And then add that sum to the price of the vehicle. That is the real initial cost of the vehicle.
Bingo. Took me a long time to learn that lesson…
John Muir’s chapter on buying a VW (from The Idiot Guide) is worth reading before buying a car, too…
Yup, having read that book years ago it still rings true, for more than just air cooled VW’s but cars in general.
Good ol’ John Muir, a wealthy of auto wisdom. I think a lot of us learned a lot from his books. They were way more than manuals, they were lifestyle guides.
Good write-up Micheal, but as someone who has also bought a zillion cars, new and used, I will add a few points:
1. Do your research. Figure out what you need and what you can afford. If you do not need a 454 Suburban, don’t buy one because the cost of running it will be obscene, especially in Soviet Canuckistan.
2. Do more research! Once you have a good idea of what suits you needs, get on ye humble internet and find everything you can about it. Check all the review sites and also car parts places like Rock Auto to check replacements part prices.
3. Fanbois love to hate Consumer Reports because they don’t always like the cars that particular fanboi does, but in my experience they are very accurate in their assessments of cars. Get a copy of CR and read up on the model you want. Their recommended picks for used cars are a very good place to start.
4. Get looking. I tend to go for older, low km cars when I can find them, meaning around ten years old. Here on the Wet Coast cars tend to last a long time due to mild winters. If the car you are looking for has a good rep, find the lowest km one you can, that has service records and has never been whacked in any serious way.
5. Have cash. When you do find your cream puff, be ready to snap it up but also perform your due diligence. Have it inspected at a dealer, which will know what to look for. If all checks out, buy it.
6. Be ready to pay good money for a good car. If you find, like I did last year, a very low km cream-puff, it ain’t gonna be as cheap as shit-heap beater. If you can’t afford the money for a super-clean low km car, then you really can’t afford the price of a high km one, since you’ll be wrenching in it for sure.
7. Finally, this is my rule and may not apply to others: I ask myself, “Can I afford a new model of this car?” If the answer is “yes,” then I go ahead. If “no,” I move on. This is because luxury cars can have high repair costs and time investments. If you get a nice ten year old luxury car for say, $9000 like I did, realise you are saving a fortune over the $40,000 a new one would cost and laugh all the way to the golf course.
My top picks for used cars at the moment:
Under $2000.
GM H-body. These are great cars and reliable, with good interiors, since the interior is where you spend your time. Many are old lady or men cars and well looked after.
$2000-$5000
Toyota Camry, 1993-1999, especially V-6
Low milers do exist and they are such good cars that 400,000 km out of them is easy.
$5000-$7000
Honda Accord V-6, 2003-2007. Great rides, excellent sleepers with wonderful engines, great interiors. Make sure the transmission has been replaced after 2006. Most have
$7000-$10,000
Acura TL, 2000-2003. Wonderful cars, fantastic handling, great engine, fantastic interior, reliable electrics. Only get one owner models as many are now having the bark beat off them by youngsters. Many available with low km on them as they were not cheap new, so tend to driven by older types and thus well maintained. Transmission issue same as above Accord.
And now, I await flames….
Good list. I’ve found that the key thing is patience. In my neck of the woods there isn’t a huge supply of decent cars so at times I have jumped too fast — and regretted it.
One of my rules of thumb is to go simple. The more bells and whistles, the more things to go wrong. It’s becoming harder and harder to find a simple car, so my tendency is to stick with older models.
My limited experiences with dealers have been yucky. I’ve always bought private party. I seek out the straight shooters who take care of their cars and have extensive maintenance records to prove it. I’ll have my own mechanic check out a potential purchase but have also called up the owner’s mechanic if I have questions.
Consumer Reports has a website that includes discussion groups for individual car makes and models. Well worth the subscription. You can get a generalized sense of problem areas to look out for.
If I find a really good car I’m willing to pay a reasonable premium for it. Why not? I’m already saving a boatload of money over a new (or newer) car. In addition, I prefer having an interaction with the seller where we both go away feeling that the deal was fair. It’s a karma thing.
Model specific forums are the best place to find a car’s weaknesses and ailments, and have helped me avoid a number of potentially awful cars.
Reading Audiworld.com turned me off from getting a used A4 due to carbon buildup problems with the direct-injection four cylinder and V6 engines. I opted for a car with “old fashioned” port fuel injection.
Rock solid advice, from a pro.
Good article, Michael. I much prefer dealing with private owners, particularly the ones who have owned the car for a long time. As most of my used car purchases have been in the 10-15 year old range, that is a lot of time for history to build up. I like to know it before I plunk down good money.
Actually, my best cars have been found accidentally, when I am not really looking for a car (although, in truth, I am always kind of looking). When you really need a car, you will be tempted to settle on something which is usually a bad thing.
> although, in truth, I am always kind of looking
I’m always looking too! Its an obsessive-compulsive thing I guess, but any time I see a car that vaguely interests me, I work out whether I want to buy it. Needless to say, I don’t buy ’em, but its is sure nice thinking about it. The best used car I’ve bought real cheap has been from an older widow. Sometimes the stereotypes are worth something.
I think along the way you have managed to turn from amateur to pro. Also have gotten pretty good writing about it.
Thanks for sharing.
Thanks!
Well, I dealt with this subject – sort of – the other day. When I bought my avatar, I advertised on base in May-June 1970: “Wanted: Chevrolet convertible automobile…” I can’t remember the rest of the ad, but I posted it on the base exchange (BX) bulletin board and eventually the guy who owned the car I bought called me. The top was shot, but he had a brand-new top in the box – a Sears $25.00 top complete with rear vinyl window. Also, the powerglide was shot. I got a loan and paid what he asked – $800 – because I fell in love with the car – DON’T DO IT! DON’T FALL IN LOVE WITH A PROSPECTIVE PURCHASE! I was 19 years old and extremely immature, even in the military.
It cost me $200 for a new tranny and another $25 to have Sears at Arden Fair Mall in Sacramento install it.
I figured the three years, three months I owned that car, it cost me a total of $2,400. Not just for repairs, but eventual repainting and repairs after I wrecked it once, engine rebuild and various other results of constantly tinkering because I couldn’t get enough of that car.
I should have just enjoyed it and drove it and saved lots of money…
Live and learn! Wish I still had that car…
I’ve made a few other car-buying mistakes in the years since…
Good times!
I’m not the perfect car buyer either, but when I wasn’t given my car (hand me downs), I bought the rest.
The biggest mistake was purchasing the 1978 Chevy Nova in 1985, I was, I think 20 at the time and just HAD to have a 2 door. I can’t recall if it was the first or the only car I looked at, but I saw it, it ran, don’t recall if I test drove it, or anything like that but took the seller at his word that the car had 50K miles on it, it didn’t smoke, had a loan (smart thing on my part) and bought it at his price, $2000. Sold.
The AC ran, the AM/8-track worked though I don’t know if the tape transport did though the dial didn’t work (as it doubled as the tape slot), the AC worked, the interior while basic tan vinyl, bench seat, was in good shape but the paint could’ve used a good waxing/polishing but had hail dents all over it.
While a basic 2 door sedan, in yellow, it had the left and right sport mirrors to match, argent colored ralley wheels, the aforementioned AM/8-track deck and AC, and had the column mounted automatic shifter and the 305 V8.
I immediately put in a cassette deck in that I had from my previous Nova (a very stripped out base 4 door with inline 6/auto that didn’t have a radio in it originally) and put the original tape deck my oldest sister and her first husband had installed back in to sell with the car. I don’t recall how the original factory crap speakers were done but I did add some home brew speakers in the back seat though. Anyway, 3 months later, the camshaft went, had that repaired but unfortunately, young, a driver for Domino’s when the 30 minute guarantee was still in affect basically did that poor car in. Sold it 2 years later for I think $200 in pretty sad shape.
The best purchase in my past was when I bought my ’83 Honda Civic used in 1992. I learned my lesson and had it checked out by a mechanic and he assured me it was the cleanest he’s seen for it’s age (9 years old), mileage (just under 113K miles) and all it needed was a new clutch, clutch cable (yes, those cars had a non self adjusting cable actuated clutch system), with a quick call to the guy I was buying it from, I asked him if he’d replaced the timing belt, nope and it was most likely way overdue so budgeted that in, a price estimate from the Honda dealer we’ve dealt with gave me a quote for $882 for all of that and I used that to bargain the price down from $3000 to $1500, sold. Only the windshield, which was cracked still needed to be replaced, but I’d worry about that later.
It turned out to be a fantastic car, drove it 6 years, put about 70K+ miles on it and the only other things i did was have the AC recharged, added a nice cassette deck and speakers, built a solid cargo cover for the back, replaced the front partial sheepskin seat cover on the driver’s side with a MUCH nicer full sheepskin cover and eventually had the passenger seat done. I eventually got the windshield replaced, replaced the tires with some Michelin X radials, added fog lights, replaced the CV boots, new exhaust, brakes all around (not all at once though). Outside of that, it was oil changes and the periodic tuneups and clutch adjustments (and a valve adjustment) and that’s been it.
Sadly, it got rear ended and thus lasted another year and a half before I replaced it with an inherited ’88 Honda Accord that was Dad’s after he passed away in 1998.
Then friends offered me the 92 Ranger truck that had a bunch of stuff (new clutch pack, new wheel bushings, front brakes, transmission oil) for $3000, bone stock, even down to the factory craptastic tape deck and speakers.
All it still needed was an oil change, new spark plugs and wires and it was good to go. I still needed to install the rear glass to the canopy and have the T handles re-keyed (got the glass installed with hinges from a wrecked Explorer) but never got it re-keyed to be locked, nor got it resealed so it leaked in the winter months.
It proved to be another fantastic buy, paid it off in about 3 years or so, put new tires on it, had the master clutch and slave cylinders replaced at 2 different times and several months after buying it, had to replace the exhaust system and that’s been it, outside of the thermostat in 2010, the shifter bushings, 2009 and a decent, but basic CD head unit in ’08, along with some Infinity 6×9 speakers for the rear cargo area of the cab. Otherwise, I kept the oil changed, replaced the plugs and wires one more time and ended up keeping it 6 years, about 3 years longer than I had originally intended to, but it was rock solid the whole time.
And the Mazda Protege5 I bought in January to replace my dying truck. That was not done in the fashion I’d have preferred due to circumstances and I was not ready to have to replace the truck then, but it is what it is. In the end, it kind of found me while on reconnaissance to price out what I can get for my budget while awaiting for the loan approval. After a good test drive, I decided, loan not finalized as yet to just go for it. I got it, at a price that was lower than I was about to pay – at a little more than the monthly payment I was hoping to obtain (I think by $13 or so, so not complaining) and it was through a new car dealer’s used car department – all because I was financing, it had more than 100K on the clock but we were still able to finance it (thankfully) and I got a good trade in on my truck, which was what I’d hoped I’d get (it was based on what I could REALISTICALLY SPEAKING) get for it in its present condition and the dealer bought so in the end, got to put down $2100 down or so towards the balance.
It’s been, so far a great car. The only things I’ve done are improve the instrument cluster lights (finished that up yesterday) and will be replacing the head unit with one that has Bluetooth, Aux and USB ports. I have the head unit on order and it should arrive next week with all the related pieces to install it.
A great article for whomever is about to purchase a car and I largely agree with your points there, especially when buying from a private seller.
Last year after my grandparents gave me the Mercury Mystique, I decided to sell my HHR. No payment, sounded good to me! Well, about the same time the HHR went away, the Mystique quit-the main wiring harness under the hood fell apart. I was car-less. After a month of using my mom’s car, I just had to do something. So I took a day off from work and went to Saginaw, where I found my LeSabre. One owner, 103k 1995 model, it drove like a new car. They wanted $5700, ended up agreeing to $5200. It was a lot, but I felt the car was worth it. It was my daily driver till late October when I was finally able to get the Mystique fixed. After that I put the LeSabre in the garage for the winter.
Fast forward to now, the Mystique is gone (best friend asked to buy it, he loves it), I have a brand new Escape (courtesy of mom selling dad’s truck and giving me the proceeds for a nice down payment). Every time I look at the LeSabre, it reminds me of last year and my dad. You see, my dad liked that car, and he was very sick during that summer and ended up passing away at the end of August. The memories are starting to get to me. I finally put it up for sale. I put it on Auto trader and CL. What few emails I did get wanted to offer me about half of what I wanted. I listed it at $4800. Yesterday I finally got fed up and sat it out at the end of the road with a sign, $3850 Firm. Twenty minutes later my phone rang, people wanted to see it. Today a friend of them called me saying she might seriously want it for her daughter. I’m hoping they come tomorrow evening.
I’m considering replacing it with a cheap car so I can keep the miles off the Escape. But I am NOT spending a lot of money again!
Thank goodness the LeSabre was as good as I hoped, but like I said, the memories are getting to me…
You are the kind of guy to buy a car from. Selling it not because of any problems, purely issues unrelated to the car.
It can be hard to sell a car sometimes, don’t go down on the price below your current asking. Just wait it out. The right person will come along and be happy to have it at that price.
Thank you.
I can’t go any lower, I have a small loan against it. I kept telling that to the people that emailed me, but they just didn’t seem to get it…
Like I said, the car is wonderful, I love it, but all the trips to the hospital, the funeral home, the cemetery…
(taking a deep breath)
I could look at this from another point of view I suppose. The ten year old PT Cruiser I looked at is about two foot shorter than the Buick, so it would fit better in the garage…
And, (because it’s late and I’m going to bed after I write this) maybe I just want to find a reason to keep my now thirteen year old license plate valid.
I’m done, good night 🙂
Really good article. I’m also looking forward to parts two and three. I think your remark about “the true cost of purchase” is right on. I have always believed that when purchasing a used vehicle, EXPECT to put some money into it. I think a lot of people don’t get that. I agree that you can usually read people to get a good idea if they’re being straight with you or not. One dealer story: years ago, I was looking at a used Camry at a dealership. Getting ready to go for a test drive. Gas gauge was below empty. Told the salesman I was a little concerned about the gas. “Don’t worry about it” he said. I told him if the car runs out, I’m going to get out and leave it there. Then he decided to go away and came back with a coupon for a few dollars gas at the station beside the dealership. Dealers….
Classic!
In my experience, the most true constant in the used car buying universe holds that the least appealing car available at any given time is always the most practical purchase.
I forget when I realized this, but I know I’ve thought it for a long time – probably around the time I was up to my 20th or so car. What does this mean? At least for me, it means that practicality alone is not necessarily a “desirable” virtue. What makes a vehicle desirable are it’s other less easily defined traits that are either aesthetic or visceral in nature, or possibly even just academic/nerdwave if we’re talking about uniqueness or rarity. Can the mint one-owner low mileage automatic base model 2003 Kia Rio make me happy because of it’s innate ability to reliably transport me on a daily basis over the course of 4-8 years for an affordable price? Never. Can the Lancia Beta Coupe that sat under a tarp on the back end of a farm since the mid-80s but “ran great when parked!” and “will turn over on starting fluid” get me to the places I need to be on a daily basis? Of course not…
So in my mind, the art of buying a used car falls to finding the ultimate compromise between those two polar opposites. Utility is a desirable trait, longevity is a desirable trait – a new-ish car that manages to not expire before 150k miles is not a desirable trait. In fact, it’s not even a trait. It’s a very fine line I’ve imagined for myself – one that allows Jeep Cherokees and older Hondas to be revered while shitting all over their modern counterparts. Essentially, the goal is to find the most interesting thing out there, that I can live with.
Or maybe this is just some mumbo-jumbo bullshit rationale for why I’m almost 30 years old and I own an old Saab that I drive in constant fear of being stung by the wasps that live inside of it – for no practical reason other than “I like that!” (and honestly, this is among it’s smaller problems). Who knows, I’m too stuck in my ways. Gone off the deep end in search of automotive zen long ago. Most of us here probably suffer from this same sickness, I’m absolutely positive Michael Freeman does…
Maybe some better used car/life advice is: never underestimate the value of a good story?
Hear hear. The most “appealing” cars I’ve owned have also been the biggest nightmares as far as maintenance and everything else go.
Thank you for sharing that, you made me chuckle. I may wish to quote you at some point. You have summed up our disease adroitly my friend!
And I should remind you (do to your obvouis writing talent) that writers are needed 😉
Very well said, Michael. I also have heard the same about private party sales, and I laugh at them because I ask them if they’ve ever bought a car from me? While the last three vehicles I’ve sold were 12, 17 and 18 years old respectively they all came with detailed breakdowns of the issues that might exist, issues I’ve already dealt with, and what kind of maintenance were done. For the buyer of the 1993 Taurus GL I saw them think “BS!” in their eyes when I told them I always filled it with Mobil 1 every 5k miles and K&N filters, until they looked under the hood. I always sell cars when they are upgraded, and try to ensure that any issues are either taken care of or properly described.
Granted there are bad apples, but you hit it – they’re pretty easy to gauge. People as a whole are bad liars, but car dealers are excellent liars.
I also applaud the advice on considering what you truly need in a car. I often see people buy vehicles for terrible reasons, and pay the price. The one time I’ve done it myself, or rather two, I’ve paid the price. First time when I was young and saw red flags everywhere, but still was convinced I “needed” the car. Second was when I was older and bought a Chrysler minivan despite the fact that I knew they were maintenance nightmares, because it fit the up-front/first year cost budget and my wife “needed” it. I’ve learned from those lessons.
I also scream when I hear of people comment on “you should buy a newer car, old cars are so unreliable”. I know many who keep up this myth religiously, and comment every time I talk about my experiences.
Six years ago I was between a 1992 F-150 XLT and a 2003 Ranger FX-4. The F-150 was coming from my mechanic who is a great guy that I trust, was in great shape, and cost $2200 – which I could pay cash for. The Ranger was at a local dealership for a cost that was way too high, I didn’t like the interior “space”, didn’t drive very well in my opinion, and the financing terms were horrible. I almost bought the Ranger, but some quick math showed me that the down payment of all that cash plus the monthly payment meant that in a year even if I had to replace tires, engine, and transmission on the F-150 – I’d be ahead. I bought the F-150.
I sold the F-150 two years ago having only (religiously) kept it’s crankcase fresh with Mobil-1, adding a nice stereo, and putting a new set of rather nice tires on it. I sold it for $1350 to a rather nice guy who realized the deal he got on it. For the sale price plus tires the truck cost me right around $1500 for four years of faithful, comfortable service. Had I sold the Ranger at the same time, it would have cost me around $12,000 assuming only tires for it.
To those who comment on why I buy old cars, that’s why.
Well put yourself. It’s true people don’t really do the math. The one that gets me is people who buy a new car because of the “better gas mileage”. Hmm, how much gas could you have bought for what you paid?
Interesting, looking forward to parts 2 and 3!
All my cars have been bought from dealers, except one. Guess which one cost me over twice the purchase price before finally expiring? Yup, the private one – a 1994 C34 Nissan Laurel Medalist diesel with 210,000km on it that I bought from a mechanic who owned his own garage and had used the car for 6yrs as the courtesy car! Why’d I buy it? I could afford it without a loan, it looked good (nice colour and alloy wheels), and mechanics don’t lie!
I fixed the many, many problems as they arose, and finally gave up when the head gasket blew and cracked the head. It cost NZ$2,250 to buy in December 2009, then cost $4+K in repairs, and I finally sold it for scrap value ($400) in July 2010 to the diesel mechanic who’d been trying to keep it alive for me. He promptly dropped another engine in and onsold it for a profit – good on him too!
Needing another large comfy economical rear-drive commuting car (I live 138km from my job, so travel almost 280km most days), I immediately bought another diesel Laurel – a 1997 C35 model with 190,000km on it…but I bought it from a dealer with a 3yr/100,000km warranty (which is almost up due to the high mileage I travel). What a dream! It was exactly as described, came with service history, and the one major problem that arose (heater and a/c cores spontaneously disintegrated) was covered under the warranty.
I’d like to buy privately again one day, but will insist on a full professional mechanical inspection first…!