I am very new to the market to buy a car, and my question is:
How much should I spend on a car, which will be problem free for a few years and should be spend as lest money as possible on the ticket price.
Thank
That’s an impossible question to answer. It depends entirely on the individual car. You can spend $50,000 for a used car that will be nothing but trouble, and you can spend $500 for a car that runs for 10 years with no problems.
In general, anything below $5,000 is more likely to be problematic. Anything between $5000 and $10,000 is less likely to be problematic, but still a fair risk.
It also depends on the model of car you are looking at and how the car was maintained. I can give you some specific examples of cars that are cheap and reliable, but I can’t say, “Spend $X and you will have a perfect car.”
The best way to answer this question is to read Click and Clack’s book titled [b]Should I Buy, Lease, or Steal My Next Car?[/b] See http://www.shamelesscommerce.com/ProductDetails.asp?ProductCode=B-STEAL for details. No, I don’t work for Click and Clack. I am just a fan.
Having read their book, based on what you have said, I think the best strategy would be to buy a three-year-old used car with a good maintenance history and keep it until it starts giving you problems. I would try to keep the price below $10,000.
You should also consider buying [b]How to Buy a Great Used Car[/b] (at http://www.shamelesscommerce.com/ProductDetails.asp?ProductCode=B-USED).
Once you have read both of these books, you should be armed with the knowledge you need to start shopping. Don’t worry, they aren’t long books. You should be able to read each one in about an hour or less.