Buy a Beater or Finance Used Car?

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Loud_Entertainer2724@reddit

I would stick to the reliable brands like Honda and Toyota. I would avoid Nissan.

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What 10k buys is someone jumping off before VVT or other issues that get mis diagnosed. Cost them a fortune. Cars are designed for the avg person who neglects preventive maintenance to last about 145k Then the you buy it with 150 almost double the mileage that shocks struts suspension components brake components not just the pads & rotors braking is an entire hydraulic system with no H20 that absorbs about 1% per year through atmospheric conditions. Shocks and struts work in unison with braking system to prevent premature wear Over 80% of 150k cars in junk yards have original shocks and never had the moisture removed from braking system. Not to mention the fuel systems that aren't properly maintained. Avg vehicles that people think are in excellent condition because they regularly changed oil. And have had brake pads/rotors replaced. Automobiles are mechanical marvels that will go and go until they dont.

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verygoodreason@reddit (OP)

Okay thanks for the info. So what do you suggest I do?

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ramtough_63@reddit

What I have done in the past is ask around for a reliable mech who works out of his garage have them look at your car. It needs a motor is not a diagnosis its a remedy. I would find out exactly what's wrong with it. Before I decided to buy something. The best deals are the ones you aren't looking for. If you need something to get back and 4th to work do a short term rental often for less than 1 month car payment. I had to do that to keep a job once. While I spent almost as much as I brought home those 3 weeks a deal found me and I kept my job. I found a car a freind of a freond kind of thing. Was his daughter's car while she was in college. It was cheap like real cheap lasted 2 yrs 90 miles a day commute. Another deal found me before that one was done I got a small loan for the other deal sold it and paid that towards loan on new deal. Still have the new deal 12 yrs later have also bought the wife 2 new cars within those 12 years myself a motorcycle and a project car.

You will be amazed at how many people understand your delimma

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campmars6089@reddit

Learn to work on them and you can beater forever. I've been getting vehicles for less than a years car payments and I make them last many years. I got 7 years out of the last one.

I got my wife a new car and it felt like an awful financial decision

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upsidedown-funnel@reddit

Here’s the thing… not everyone wants to, or has the time or means, to work on a car. So may don’t have a garage to work out off let alone the proper tools, or the mechanical inclination. Also, A lot of newer cars you’ll need diagnostic tools for as well. We have all the tools and means to work on our cars, and have done for years, So I know from where I speak. It took years and a lot of $ to accumulate all the tools, specialty tools, skill level, etc.

But.. Wouldn’t it be nice to own something you didn’t have to constantly work on and repair? And at some point, you get older, and you get tired, and it’s the last thing you want to deal with. Wouldn’t it be nice to spend $ on something and have it actually work for you?

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jules083@reddit

I've been doing that my whole life.

But anyone who reads this has to realize that you're going to have to work on your own junk.

My Ford Fiesta has been wonderful. I've saved a ton of money by owning it. But only because I can do all my own repairs. If I had to take it to a shop every time something broke I'd be like $10k deep right now on a car worth about $800.

As of now I'm into it counting all repairs and excluding maintenance for about $3500. For my 3500 I've driven about 70k miles. Really hard to complain about that. It's only came home on a flatbed twice in that time, second one was my fault on a botched repair job, so not too terrible I don't think.

AC doesn't work, it would never pass any type of state inspection, and the dash is lit up like a Christmas tree, so there's that. Lol

Also it regularly stalls coming off the highway. Has always done it, no idea why. About 2 or 3 times per week. Push the clutch in, motor stalls, let the clutch back out, motor restarts itself, good to go for a few more days or so.

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littlemonky420@reddit

just went through that with my fiancé and yeah, it feels awful.

hers wasn’t even new. just too new for my liking!!!

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AgonizingGasPains@reddit

$900 VW Rabbit 2.5L with 157k miles that I refurbished for under $500 in parts, drove three hard years (120-mile commute) and then sold to a friend who's nephew needed it (and I had a $400 Jetta TDI). Shipped it to him in Guatemala, and it is still toodling around in the mountains there.

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Feisty-Journalist497@reddit

I bought a used ID 4 but it was around 17K

I would suggest looking for a CPO instead; my monthly is 280$

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verygoodreason@reddit (OP)

Oh yeah i saw some i3s under 10k on the sites I was on. U said u recommend CPO… so like carmax?

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Feisty-Journalist497@reddit

No CPO is done through a dealer; hence why it cost more,

Certified preowned. Until 100k miles i have warranty, through the manufacture

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verygoodreason@reddit (OP)

Oh okay. Yeah I was looking at cpo on some dealer websites but I haven’t found anything in my budget. They’re all mostly $15k and up still.

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upsidedown-funnel@reddit

CPO’s isn’t a guarantee. Go drive a few EV’s. They’re quick and fun, far more reliable than a gas car will be. Avoid the Nissan leaf. The chevys are solid (EV not gas).

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Numerous-Major5878@reddit

Everyone says "avoid Nissan Leaf" but not why. The Leaf doesn't have any cooling in the battery pack, so it degrades faster than other EVs and unevenly. This is a design flaw, there's nothing that can be done to fix it, and as soon as one has been driven the damage has started. See also any Nissan E-NV model, Renault Zoe, Mitsubishi Outlander PHEV.

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upsidedown-funnel@reddit

I admit I cannot attest to all the leaf’s made. I’d just heard about its earlier reputation with the battery degradation with an already poor range. So I’ll defer to you here. I’d suggest anyone buying to do their diligence and make sure they know what they’re getting into.

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Feisty-Journalist497@reddit

yes the CPO has a value attached to it. the point is you can drive off the lot and it blows up on you, knowing there is still warranty on it

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Throwawayffxg1972@reddit

Used Chevy bolt is a solid choice. My dad had both Gen 1&2 bolts. He loved the first gen, it never gave him any problems, he just charged it with a slow charger at night and he had all the range he needed… and then an F250 ran a red light and demolished it. The car was obliterated but my dad got out of the accident unscathed, he went straight to the dealership to buy another one. By this time the Gen 1 bolt had been retired and they were selling the Gen 2 bolt. He’s had it for a few years now with no complaints. Same experience as the first one but with improvements everywhere, so he’s been perfectly happy with it.

If you’re considering a used EV, get a bolt, they are solid cars.

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Viking2151@reddit

I hate owing money, I'll drive a beater until the day I die. I use my stuff, I don't want to be worried if something were to bump it or scratch it, and I really dislike newer cars, I feel the quality is terrible with all brands these days, I'll stick to my 32 year old hoopty.

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Sideburn_Cookie_Man@reddit

Beater.

I've got 2 now.

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howrunowgoodnyou@reddit

Beater Prius is the absolute cheapest way to have a car.

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Reejerey1@reddit

How much to repair the current car and what is it?

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verygoodreason@reddit (OP)

It’s a 2000 Mazda Mpv minivan that I bought for $500 months ago. I definitely got my moneys worth lol. But they said it needs a new engine so it’s just not worth it to fix

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ajm91730@reddit

More details? Is it currently running and driving, check engine light, ...on fire?

It might not be worth it to fix from a shop's point of view, but if you can limp it along that might be your best bet.

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ramtough_63@reddit

I dont have enough fingers & toes to count how many "they" said it needs a motor that are going an additional 25000+ miles with simple repairs. I have 1st hand experience withh. However given the type of vehicle it very well could be wore out 500 well spent.

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Top_Independence2676@reddit

If you have room, two beaters. Insuring an old car and a second car should not be much. Really depends on the rust factor of your state.

Buy an economy car and an old pickup. From 1995-2008

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Imaginary-Badger-119@reddit

If you can be disciplined buy a beater keep it going tell you can buy a used with a very high down payment very low monthly and keep saving for any repairs while paying off as quickly as possible.

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WillieMakeit77@reddit

Beaters are $10k now.

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eggnog_56@reddit

Depends on your budget for a beater.

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verygoodreason@reddit (OP)

Without financing, my budget is maybe $2k-$3k.

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upsidedown-funnel@reddit

Sorry, I keep commenting. Just saw your budget. See if there’s a Chevy spark EV for sale near you. I’ve seen them around $3500 and they’re a good EV. (Range is about 80, and you’ll want to make sure, as with any EV, that it’s charging to the expected range.). A $3500 ice car is going to be super risky.

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eggnog_56@reddit

If it was me on that budget I'd be hunting for a high milage Toyota yaris or pontic vibe and then save up 5k as fast as possible. Sell the shitbox and get a decent car for 5k. I do have a garage with tools, and am a decent mechanic though. Financing a 10k car with 2k down is not terrible though if you commit to paying it off asap. Interest rates are often high on cheap used cars.

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lumpiawrappers@reddit

yep always a caveat, recommendations is always to buy a shitbox but a lot of people leave out the handyman, tools and garage space aspect of ownership

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Ornery_Ads@reddit

If an EV works for you, I'd get an EV.
Don't get a Leaf.

If you just want a beater, there's plenty available in the $1k-$2k range.

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upsidedown-funnel@reddit

The bolt is an excellent choice.

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upsidedown-funnel@reddit

If you have a way to charge a car, look at EV’s. Your risk of buying a POS is slashed easily in half. Right now you can get EV’s for a steal as well. A nice little EV bolt seems to be the best value under $10k (or an EV spark, if you can find one).

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135is@reddit

If you don’t care about looks get a Honda fit in cash. they handle pretty good, good on gas. Very practical.

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Stock-Lobster-303@reddit

When you finance, you usually go through a car dealership which would give you the option for warranty, and is a more secure way of moving money because it's through a trusted business. Where buying a beater is usually through another individual, in a private location, and you don't get the possible benefit of having that warranty on the vehicle if anything breaks or needs to be repaired, etc.

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Ok-Huckleberry1970@reddit

The dealer usually chatges 3k for a warranty so that would probably put op closer to 20k on a 10k car plus the full cover insurance

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Stock-Lobster-303@reddit

Most likely. But it's over a longer period of time than just paying 10k flat. And some of that 10k OP does have, they can use as a down payment and use the rest for the first couple installments

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Ok-Huckleberry1970@reddit

On a car under 20k knowing if maintenance is up to date can get challenging.

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Stock-Lobster-303@reddit

Yeah. Especially if it's older or have had multiple owners. But isn't maintenance tracking something that Carfax provides; or other similar apps/websites?

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Ok-Huckleberry1970@reddit

If you take it to a shop that has cardax yes otherwise no. For example im a mechanic so i do all my own work. No carfax on my cars

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Stock-Lobster-303@reddit

Yeah. That's true. But the vehicle may be in better condition coming from a dealership than a private seller. Just because dealerships need to sell you on a car in order to make money within the competitive economy. I'm not completely against buying from a private seller, but if financing is an option of a consideration, then I think financing is a better way to go. Buy from a private seller if you don't have good enough credit, have a fixed amount of money for a long period of time, etc. Anything that would prevent you from keeping up with the payments

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Ok-Huckleberry1970@reddit

The dealership only makes sure its safe and not leaking too bad other than that if you dont purchase their warranty you get the tailight warranty from them

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Ok-Huckleberry1970@reddit

Also op has bad credit so getting bigger loans might not be an option. On top of the fact that a 10k car could also have a lot of issues so in this scenario i would say get beater and save for repairs

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Stock-Lobster-303@reddit

I didn't read OPs last post because I thought he summarized it completely under the link. But yeah, with his bad credit buying from a private seller is probably the best way to go. Pretty severe thing just to leave out in his summary tbh

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Stock-Lobster-303@reddit

Fair

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FunAccountant4482@reddit

I'd buy an auction car depending on your area. 10k is a pretty good budget for a reliable used car. No dealership BS just base taxes and a small fee to the auction.

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CauliflowerTop2464@reddit

Get pre approved and get yourself a Chevy bolt of you can charge at home and electricity is cheap.

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Awkward_Intention_15@reddit

I drive below a beater. A rebuilt title truck that I fixed. I owe nothing on it, I rack up miles without worrying about depreciation. Do I wish I had another truck? Sometimes Sure but I’m happy not paying almost 2 grand all in on a vehicle per month just to say I drive something fancy when in truth I’m broke.

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Coolmacde@reddit

Pay cash and be done with it.

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FenderBass1994@reddit

Buy a beater Toyota and be done with it.

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sisyphus_met_icarus@reddit

He's probably going to need to finance that though

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Valuable_Salt7585@reddit

Get a beater, you'll save way more money. Buy the things you can afford, don't finance something because you can't afford it, you'll never get ahead that way. You can get very decent vehicles for under 5 grand, even under 3. Put the money you save on payments and insurance away for your next vehicle, and I'll bet by the time you can afford a 10k car you would rather get another cheap one and keep all that money.

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Zealousideal-Goat839@reddit

Don't buy from CarMax, their cars cannot be trusted. Don't buy a Nissan leaf unless you can live with piss poor battery range.

If you're comfortable buying private, there are some deals to be found on Facebook marketplace if you get yourself a prepurchase inspection.

This guy has you covered for good car choices https://youtu.be/m5OXNsOLl_g

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Ok-Huckleberry1970@reddit

Your ev cars that you say are under 10k arent great and carmax isnt the best either. Some of their cars have been through many owners that cant pay their biweekly payment so then the car gets shut off remotely and repoed

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verygoodreason@reddit (OP)

Okay so what do you think is the best option?

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Ok-Huckleberry1970@reddit

Beater. No full cover insurance no overpriced paperwork fees and no interest compared to financing and paying a 15% or higher interest rate due to your vad credit ooorrrr fix your old car

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Effyew4t5@reddit

I would do CarMax and get their extended guarantee coverage

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CheezBurgrHandy@reddit

Depending on your beater budget. Go for an older Lexus es300 or es350. Lexus rx300 as well. They take a ton of abuse with minimal maintenance. But,…. If you take care of them, they last forever.

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annyongggg@reddit

Play the tape forward. Which will give you less headache and be the most responsible decision?

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steak5@reddit

If you have bad credit, don't finance anything until you rebuild it.

All the finance deal will be predatory.

If your budget is $10k, best bet is buy a beater that needs work but with a good Body condition for $5-6000, and be ready to put $4000 worth of works into it.

Get an inspection from a good mechanic, figure out the necessary type of work it will need, and go from there.

You rather buy a Nissan with a Blown transmission for dirt cheap and install a new transmission than buying something that cost you all your money and still may break down.

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Ok-Huckleberry1970@reddit

With a 10k budget you are going to have fun finding something

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verygoodreason@reddit (OP)

Why you say that?

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lumpiawrappers@reddit

I think they mean it literally lol, 10k gives you a pretty modest budget to work with