I am a novice when it comes to buying and selling cars.
Every single person around me has a different opinion. With great difficulty I decided that I would get a 2009 Corolla.
Now the problem is there are few people who say that if I buy a 2009 then I should buy it with higher miles on it (90k-120k) so that I get a good deal and if and when I decide to sell the car after 3-4 years I will get a good deal.
There are other who say that I should get a 2009 with lower miles (below 40k).
$9,000 - $ 10,000 For A Car That Is 3 1/2 To 4 1/2 Years Old With 60,000 Miles ?
Save your money. You’ve almost got enough for a great car. That’s too much to spend on a car that old with that many miles. Even if the car is checked by a competent mechanic and passes inspection it’s still risky.
There is no way of knowing anything about a car based on pictures. The year model and mileage also mean nothing because a high miles car may be in great condition and a low miles car a heartbeat away from the recycling yard.
It all comes down to a gamble. Have a thorough inspection performed and then roll the dice.
You are making a big mistake here, you seem to have fallen in love with a particular model and that rules out any negotiating on your part. These Corolla’s are also prone to the P0420 code that is difficult and expensive to fix, it usually occurs around the 110k mile range. I know some people who are very unhappy with these models.
Open your mind up and just look at each car on its own merits, not just its curb appeal or reputation. That is the only way to find a gem in all the broken glass out there.
12-20k miles per year. My brother who is very successful in buying used cars told me that he looks at the interior and exterior of the car first. He will not buy a car that has after market seat covers, new paint or any major engine or transmission work done. Then if he sees any damage to the body or paint or any excessive wear and tear n the interior, he walks away and looks for another one.
After meeting this criteria, then he gives the car a good going over, checking maintenance records and looking for any potential issues, like uneven wear on the tires (be wary of new tires on a used car), soft brakes or an engine that doesn’t seem to have the power it should have.
U plan on selling car in 3-4 yrs. what will your total costs be? Purchase price minus selling price. 10k now and 5k later for 5k out of pocket. New car lease is 2400/yr x 3 yrs is 7500 or so. But u have warranty. U already said u want to sell it.
It’s tough to find a good used car that’s 4-6 years old because 4-6 years ago people were not buying new cars.
At this age and milage you are going to expect some bigger maintenance issues. A Corolla will have cheaper tires, brakes, timing belts, wires, plugs, fluids, etc that need to be addressed. So a Corolla at 5-6 years, 60-80kmiles will need tires $500, brakes and other stuff for another $1000 + $9000=$11500 cost to own. You might has well get a new Corolla and not worry about this things for 5 years.
No telling what the market will be in another 3~4 years, but I agree with @stoveguyy in that if you KNOW you’ll be getting rid of it in that amount of time, a lease on a new vehicle would be a better option
@SAZ you should be looking for a car with around 60k miles, IMO. It probably wouldn’t be too trashed yet. And when you sell it in 3-4 years, it’ll still have reasonable mileage.
What about a 2009/2010 Chevy Cobalt for around $10,000? I bought a 2010 Cobalt LS 3 months ago for less than $10,000 with 14,500 miles on it. Check dealer stock on line. You might find a gem like I did, too. BTW, I found it at a Nissan dealer, not a Chevrolet dealer. There’s no telling where the previous owner will trade it.
I think you’re so focused on price, year, and the odometer reading that you’re ignoring the fact that miles per year may mean nothing.
There are countless vehicles out there for sale with very low miles for the year and they either have major problems or will be suffering them soon.
Many people lease cars and have no intention of any discretionary spending for maintenance. They drive it into the ground and hand it back to the dealer so the process can start over. The dealer is going to sell the car rather than scrap it, so…
Compression checks of an engine are less feasible now but at a bare minimum a vacuum gauge should be connected. This can reveal any engine abnormalities and only takes a minute.
Ok, good luck with that " I will not loose 5k in 4yrs". A lease is actual depreciation. That is how much any car looses in value. 250 lease payment is 250 loss. If the lease is 7800 for 3yrs than that is the facts. U can tell yourself the sky is not blue but you are still wrong. So u chose whatever car you want and let me know in 4 yrs how your resale goes. It’s not my car.