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A 'Different' Perspective on Buying an Older Used Car

daveleencdaveleenc Member Posts: 17
edited November 2015 in General
I was in the market for a used car recently, and did my usual amount of lots of analysis. I was looking in the $5-7K range and the question of kind of "the gold standard" of 8-10 year old cars crossed my mind - Honda Accord (or Toyota Camry).

In playing with the numbers I chose a Ford Fusion as a 'comparable car' (similar size, anyway, and not a mechanical disaster AFAIK). Per KBB it would appear that you could buy a 2006 Accord in very good condition for a price in that range (private seller) or you could buy a 2009 Ford Fusion (same mileage) for roughly those same dollars.

Similarly you could buy a 2006 Fusion but with 65,000 fewer miles for the same price.

I just found it an interesting way to think about that.

FWIW.

dave

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    Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    I think "buying miles" is always a smart idea. Even if the car proves a bit troublesome, you can always unload a low mileage car.
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    carboy21carboy21 Member Posts: 760
    My philosophy is no used Detroit cars . Only Japanese , 
    Also never German  , even BMWs . They stay giving trouble after the warranty is over and service costs are a killer ,
    Lease American / German cars and hand them over after 3 years . 
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    carboy21carboy21 Member Posts: 760
    I think "buying miles" is always a smart idea. Even if the car proves a bit troublesome, you can always unload a low mileage car.
    Try unload a Detroit car . They are a dime a two dozen 
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    kyfdxkyfdx Moderator Posts: 238,965
    @daveleenc I think you are correct, if your goal is economical transportation at that price point. Honda/Toyotas are very pricy in the used car market, and it's tough to find a good one in that $5K-$7K window.

    In my experience, Hondas are better bought new... you can drive them more economically than purchasing a used one.

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    carboy21carboy21 Member Posts: 760
    kyfdx said:

    @daveleenc I think you are correct, if your goal is economical transportation at that price point. Honda/Toyotas are very pricy in the used car market, and it's tough to find a good one in that $5K-$7K window.

    In my experience, Hondas are better bought new... you can drive them more economically than purchasing a used one.

    Three year old 36 k miler Honda and Toyota are the best. Depreciated enough to be affordable but enough miles left to be worthwhile. But you will be hard pressed to find them unlike the dime a two dozen American brands .
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