$10,000 cash budget for a used car

[Anonymous]

Can someone give me a good story about buying a used car with this budget?

This is a second car to be used to transport our kids to their activities a few times a week.

I know I can put this cash down but I hate to take out a loan to cover the expense of a new car. Especially with the current interest rates.

I guess I’m open to hearing horror stories too.

[Anonymous]

Not quite $10k, as we were looking for a used compact SUV, we spent $15k on a 2017 Honda CRV with 75k miles. It’s been great; zero issues.

[Anonymous]

If you stick to Hondas and Toyotas you should be good. We still have a 2003 Honda and a 2010 Toyota that our kids are using. No major issues.

[Anonymous]

We bought a 2016 suburu for that amount with 90K

[Anonymous]

In 2019 bought a 2008 Hyundai entourage for $7.5k cash. Had 90k miles on it. But we don't drive often and today it only has 105k miles on it (after 4-5 years..)

Found the car, via Autotrader (was a dealer), paid for a "pre-purchase inspection" via YourMechanic without seeing the car ($100 at that time). The thought was that I'm not mechanical and need a third party to verify I'm not buying a lemon. Seemed worth $100 to not waste further time and energy until verified it's solid.

Received the clean report from YM. Drove out to test drive it and make the decision. Bought it same day.

I get a lot of flack from extended family about being frugal, like the newest sienna is what you should purchase just because you can afford it. Screw that. Our entourage has served us just fine at a fraction of the cost. And I don't care if it gets dinged up or the kids spill things.

Cars under $10k --> totally possibly. Get high quality brand, low miles, and pre-purchase inspection by third party. You should be just fine.

Btw, I acknowledge I bought pre-pandemic before prices for used cars went nuts.

[Anonymous]

Over the past few years we’ve bought four different used cars, three for less than $5k and one for $6,500. All were fine. They included a jeep Cherokee, a Volvo, a mini cooler and a Nissan Murano.

[Anonymous]

If it’s for the nanny I highly recommend hiring someone with their own car

[Anonymous]

Anonymous wrote:Over the past few years we’ve bought four different used cars, three for less than $5k and one for $6,500. All were fine. They included a jeep Cherokee, a Volvo, a mini cooler and a Nissan Murano.

Where did you find them and how old were they?