ALT-1 When to Buy a used Car Older than five Years
The time to buy an older car depends on the deal, the car, what it will be used for, and YOUR abilities.
If an older car needs some work, can you do some of the work yourself or will you have to have EVERYTHING done by a mechanic - doing it yourself can save a lot of money AND it can be a good "hobby". Older cars make great hobbies!
What do you want the vehicle for - will it be your primary transportation, just used as a spare vehicle or a truck or van for hauling the things that won't fit in your current car. You might want a newer vehicle for everyday use BUT having an older "extra" vehicle is handy and you don't need to rent one if yours is in the shop because now you have a spare!
The car - what shape is it in, did the previous owner keep it well maintained, mileage, how much work does it need - is it just cosmetic or does it affect the drive-ability of the vehicle. Is is a vehicle that has held it's value and/or will be a "classic" in a few years? Always wanted this particular year, make and model when you were younger but couldn't afford it then?
The deal - is it a deal that is too good to pass up? Is it being sold for a lot less than "blue book" and if so why? Sometimes you are just in the right place at the right time and you can get a great deal that is just too good to pass up. This happened to me 2 days ago. I came across a 1987 (20 years old!) Nissan Pulsar NX SE for just $450. It was in very good shape - needed tires and brakes, minor paint chips, one door doesn't open from the inside, CD player works but radio doesn't. Mileage just over 110,000. Blue Book for it in its current condition in a private party sale was $1,200 (repaired $1900). A young couple expecting a new baby next week needed the money to pay for the circumcission (birth covered by insurance but not that part) and this was an extra vehicle for them. I can take care of a lot of the work myself and for an extra $30 a month in insurance, my family now has a hot little sports car with a T-top as an extra vehicle!
So don't pass up an older car just because it is old, if it meets YOUR needs check it out and give it a chance - besides it is a type of recycling and is good for the environment.
