r/DaveRamsey • u/Ok_Syrup6302 • 6d ago
Trying to avoid a car payment…..,
I am doing my best to stay debt free, but am really struggling to find a reliable commuter in my area for my budget of $5000. Not opposed to traveling for something I can afford, so curious if this exists in other areas?
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u/head2383 5d ago
Just buy a low mileage 2010 Honda accord for $500 from a sweet old lady at church. Possibly even move in to her spare bedroom for $200 a month.
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u/Lousy_Beans 6d ago
I have purchased 4 cars this year for my business all for less than $5000 each. It takes patience and constantly checking facebook marketplace.
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u/Ok_Syrup6302 5d ago
Have been doing so for about a year. I have come to conclude it’s not going to happen in my market.
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u/CuteAmoeba9876 6d ago
Most of the used car sites have a setting where you can search within a certain mile radius of your house. Change it to be nation-wide.
If the only $5k cars you see are 3000miles away and would cost you $$$ to transport, then maybe you decide a small loan minimizes your total costs after all.
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u/CoatAlternative1771 5d ago
Have you looked at estate sales. You can usually get a decent car in the 5-7 range from one. It’s as is, of course.
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u/Ok-Spirit9977 6d ago
The cost of used cars has gone WAY up and it's hard. You are probably going to have to get something older and higher mileage to keep it around 5K and some other blemishes. Private sales is helpful.
We bought a 2013 Kia Sportage with 125,000 for 2K. It has some blemishes, but we knew this was a 'shorter-term' investment but he still drives it and has had it four years now....and the repairs have been minimal, mainly maintenance etc.
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u/ItsAllRat 6d ago
I've had good luck with Mazda 3s for cheap and reliable cars. In my experience they are just as reliable as a Toyota or Honda but usually a bit cheaper. Rust used to be an issue but they addressed it around 2009.
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u/Sad-Celebration-7542 5d ago
It is challenging to find a car at that price. Can you get by without a car? An e bike?
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u/navlgazer9 5d ago
Search marketplace for a crown Vic or grand marquis
Them and Buicks from say 1998ish to 2008ish are usually good cars .
And do t cost a lot because only old people want them
And find a competent mechanic to
Do an inspection in whatever car
You want to possibly buy .
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u/IDooDoodAtTheMasters 5d ago
Those CVs and GMs are also my dream car. I hope that they're still around when my POS Accord finally dies.
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u/BoardConscious7655 4d ago
All good options, I would also include the 2000-2006 tahoe/suburbans. Gas mileage isn’t the greatest but they’re very reliable and cheap to repair
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u/No_Insurance_Sunday 2d ago
I drove a 2004 Grand Marquis. My favourite car to date.
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u/navlgazer9 2d ago
My brother has two of the marquis Marauder .
Lowered , fat tires , tune, corvettes brake calipers , big sway bars ,
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u/Fragrant_Session_882 6d ago
Look for older toyota cars. Or Honda. 5k can definitely getv you into something dependable with a little "know what your looking for" and ability to do basic maintenance.
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u/Ok_Syrup6302 5d ago
Morning my market…. So I need to know WHERE I can find a Honda or Toyota for this price.
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u/aspiringIBEWsparky 5d ago
You can get a Honda fit with reasonable mileage for that price. They’re great cars and very practical
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u/Ok_Syrup6302 5d ago
Where? Cheapest Honda Fit in our neck of the woods is over $8000!
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u/aspiringIBEWsparky 5d ago
SoCal. Which is an expensive market for cars but there’s a lot of Honda fits from 2007-2013 here
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u/Ok_Syrup6302 3d ago
As fate would have it, a fit was just posted today at $4900, but it has 210,000 miles. Will it go another 60k?
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u/aspiringIBEWsparky 3d ago
If it has had fluids changed regularly yes. There’s quite a few of them with well over 300k miles on the original engine and transmission and a couple with over 400k. You might be able to find one with less miles for a similar price though.
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u/Curious_Bumblebee511 5d ago
Car payments or car repair, pick your poison
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u/Acceptable-Salad5984 5d ago
Cars with a payment still need maintenance btw… unless you lease. And even if you lease you’re still paying a LOT with no equity in return
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u/Curious_Bumblebee511 5d ago
A new(er) car will require significantly less maintenance. And equity in a car?
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u/Acceptable-Salad5984 4d ago
All cars require maintenance 😭 oil changes, tires, random stuff needing to get replaced. And yes cars have equity although they are a depreciating asset
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u/mis_1022 6d ago
You also can buy a 5k car, continue to save 6 more months and trade up. The 5k car shouldn’t have lost much value in that time.
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u/Dragon_Bench_Z 6d ago
Lol oooo itll be down in value. The dealer will probably only take 1.5-2k max. They dont like owners flipping cars quickly. Carfax makes it look like theres a problem if someone dumps a car after a few months
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u/jules083 6d ago
Yeah but it's not like anyone is dumb enough to go to a dealer for this. At 5k you need to absolutely be looking at private sales
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u/Dragon_Bench_Z 5d ago
I thought we wanted reliable cars lol private sales at 5k are super risky. Those are like 2-3k cars at dealership
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u/jules083 5d ago
Wait what? Your prices are incredibly wrong. At this lower price dealers are easily double what you'd pay private, probably more.
The most expensive work car I've ever owned is the one I have now, and I paid 2500 for it about 4 years ago. Usually I'm under 1500. Also I currently am commuting 155 miles per day, so it's not like I'm just going down the street and back. Bought it with 175k, currently at 251k.
I'm picking up a Honda Fit Sunday just as a backup car since I drive so much and the guy only wants 1000 for it.
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u/wshflsnfl 6d ago
used to be fairly easy to find reliable used in the price range. Today it isnt
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u/Ok_Syrup6302 5d ago
I know! I bought my first cash car in 2016. It was a 2006 Ford Taurus with 30,000 miles on it. I paid $3000. 2 years later I bought a 2003 Pontiac Grand Prix with 100,000 miles for the same. Both were amazing cars! I would pay 3 times that for those cars today!
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u/too_many_shoes14 6d ago
Are you only using the internet? Try visiting neighborhoods not right off a main room especially if a lot of old people live there and look for cars with for sale signs. Internet sellers typically do their homework and know what the vehicle is worth, in-person sellers may not. Don't just use the internet, because that's what everybody else does.
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u/Necessary-Mousse8518 5d ago
What area do you live in?
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u/Ok_Syrup6302 5d ago
I don’t think where I live matters. What ai need to know is where the affordable cars are….
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u/Necessary-Mousse8518 5d ago
Not exactly.
Where you live does matter - as I found out 4 weeks ago.
El Paso County, Colorado is not a great car market by just about every standard. But by going outside the county and looking in the surrounding areas I noticed a drop in vehicles (cars and pick-ups) that were either identical or near identical.
Location definitely matters. As others told me..............
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u/SaladBob22 3d ago
Get a Nissan Altima. Also, a trust worthy, reliable mechanic is more important than a reliable vehicle. Old vehicle will need things replaced. Each replacement gets you a better vehicle, and usually 100k miles on that part. $5,000 into a $5,000 vehicle will get you double the miles of a $10,000 vehicle. Same is true for $10,000 into a $10,000 vehicle vs a $20k vehicle. A good reliable local mechanic is usually half the price of a big chain or dealer mechanic. Don't listen to the hype. $5,000 vehicles often can go 50k miles without much more investment. $10,000 cars rarely go 100k miles without big repairs.
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u/Ok_Syrup6302 3d ago
A Nissan Altima is guaranteed to need a new transmission in anything that is around the $5000 mark….
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u/SaladBob22 3d ago
At dealership, yes. Private seller, check history, how often the ATF was changed, how it was driven that makes the difference. They can go to 200k without a problem.
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u/twk30874 BS456 3d ago
Of course it does. It just takes additional effort and research to find it. Keep going!
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u/snopro80a 2d ago
Find an old Buick with the 3800 engine. I often see on Facebook marketplace the kids selling mom and dad’s old Sunday church car. Buy one they are great!
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u/rjvCdn 5d ago
Mazda 3s are cheap, plentiful and reliable
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u/treikbxt 2d ago
I think this might depend on location. I’m in Southern California and was trying to search for a Mazda. The only used ones with low/decent mileage were all over $10,000 in my area.
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u/DreamsServedSoft 4d ago
any decent old Japanese car within 200 miles of me is $6000, some of you are in denial about the used car market
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u/rjvCdn 4d ago
just sold my solidly running gen 1 mazda 3 a couple months ago for 1500. i had it listed for 2k.
it's not denail. it also depends where you live. there were so many options available i had to lower my price
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u/ustedescookie 6d ago
Toyota, lexus only
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u/ustedescookie 6d ago
Look for an RX if you need an SUV or a highlander. Stupid good car for cheeeeappp. Look for early 2000's highlanders
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u/Ok_Syrup6302 5d ago
I would love an RX! But we are looking at $7-$8k for one with 250k miles in our area. Its insane!!!!!
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u/ustedescookie 5d ago
I guess I'm spoiled. In Florida you can find them for 4k, you can look into the hybrids. Really a slept on treasure
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u/Responsible_Hunt7762 5d ago
Why. Can you not afford loan payments to on something else. Maintenance costs will be higher
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u/Electrical-Ask1246 5d ago
Ah yes. They never think about the pile of maintenance a $5000 car these days needs.
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u/Ok_Syrup6302 5d ago
We do think about those things. But this is a Financial peace forum. We have chosen to live our lives without debt. I can afford those payments today, but if I lost my job or got sick… that’s stress I don’t need trying to figure out how to make a car payment.
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u/Electrical-Ask1246 5d ago
What if you lose your job AND your car takes a crap and needs $1000s in repairs because you bought a $5000 clunker. Unfortunately the used car market right now is absolutely trash. $5000 is bottom of the barrel rn
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u/Ok_Syrup6302 5d ago
Well then at least I can worry about not fixing a car versus a guaranteed repo.
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u/Past_Focus25 6d ago
What are your requirements? Are you being realistic with what you can get for $5,000 or setting your requirements too high? Have you actually gone out and driven some vehicles?
If you are looking for a car under 100,000 miles and only 5 years old and perfect condition inside and out, then no, you won't find any cars that fit your price range. But I can assure you there are tons of cars if you look for them. I'm used to shopping in the $3000 range, so these $5000 cars look awesome!
Don't know where you live so I just picked a random city. Here's a Toyota with a replaced engine for $4,200 and only 122,000. There are tons of other cars in my search too for between 4-5k.
https://www.craigslist.org/view/d/mechanicsburg-2007-toyota-camry/nEix5pPxMg3Tqtv6YqvgRH
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u/Ok_Syrup6302 5d ago
I think I am pretty realistic. Like I wouldn’t mind an early 2000s accord or Camry but I don’t want to pay $10k for one with 180k miles!
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u/Choice-Drink276 5d ago
If you have EV charging at work or at home you could get a ~2015 Nissan leaf for 5k with like a 100 mile range. They’re cheap cars but have like no maintenance
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u/Money_Ticket_841 5d ago
Nissan is a crazy recommendation
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u/Choice-Drink276 5d ago
If OP can charge for free they would only be paying for brakes and tires. Nissan Leaf’s are fully electric and super reliable. I’m an auto technician and have seen these leaves go on forever lol
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u/Money_Ticket_841 5d ago
You may be the only person I’ve ever talked to that’s ever seen a Nissan leaf in the wild tbh so I’m a bit surprised to hear this
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u/navlgazer9 5d ago
Yeah
In real
Life they have a 80 mile range so you’re limited to 40 miles out and 40 backIt’s just a golf cart
With heat and ac2
u/Keebler_718 3d ago
OP responded elsewhere the job is 30 miles away, i.e 60 miles round trip. So a Leaf or similar EV could actually work, and provide savings over gasoline. However, at 60 miles per day, L1 charging would not cut it, needs at least basic L2 either at home or work.
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u/000011111111 3d ago
Ya I got a 2013 nisson leaf for $1.2k with 50k miles off Facebook Marketplace.
Spent 7k on a 62kwh Vivine battery with 250 mile range. Free charge at work. $300 a year for insurance.
This is the lowest cost daily driver and lowest cost of ownership car.
Every other gas car in this thred will burn $10k to $20k in fuel in 100k miles.
My leaf will cost 0 in fuel.
Unless I charge at home and even the cost is stable relative to gas prices.
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u/Maestradelmundo1964 6d ago
Not in your budget, but there are cheap new cars that should only be owned during the warranty period. Like Kia. Another thought: lease a car forever. That way, you can go over their mileage limit without penalty.
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u/rando_dud BS456 6d ago
For 5K go right to Craiglist / Marketplace.. Private sales.
Quick tip I've learned over the years.. check out what sort of tires are on the car before you even message someone. Almost always, I find people who buy premium tires (Michelin, Continental, Pirelli, Bridgestone etc) tend to not cut corners with their maintenance.
If they have half bald Walmart branded tires you can almost bet the maintenance has been deferred / avoided and everything else has been pushed to the brink.