I bought a 2007 Mazda6 from a used car dealership for 6k, a little over 2 years ago. 117k miles. The only money I've had to put into it is basic maintenance ( brakes, tires, oil changes) Now it's just under 140k miles and still haven't had any major issues
I have a 2013 Mazda 6, bought it at 45k miles and I now have over 250k miles, alot of those as Uber miles. Never had a single major problem with it, just routine wear and tear. Engine and transmission still going strong.
I recently looked for a used Honda or Toyota in the middle TN area for under $5000. In reading the Carfax, most did not have clear titles, were in multiple major accidents and / or needed a couple of thousand dollars of basic repairs when I had a mechanic look them over. it’s one thing to look at ads, it’s another to actually go out and test drive the vehicles. I found it more difficult than the way you present it in this video.
I’ve bought several used cars in my time and it’s the same thing every time.. most people don’t do ANY maintenance except the bare minimum. I buy it and have to do all the fluids, brakes, rotors, tires, shocks, new headlights cause the old ones are beyond restoration and who knows what else. Usually takes several thousand in maintenance to get $2k to $8k dollar used car really reliable. These guys make it sound sooo easy but I know George has no idea how to replace ball joints or probably even the oil. It’s definitely cheaper than financing but most times more complicated and time consuming.
I flew to Detroit to buy my used truck. Saved me $8k over local prices. Negotiated the cost before I bought the ticket. Flew out for $90 one way. $70 cab ride to dealer. $200 gas back. Used 1 day of vacation.
@afcopwife , exactly. have no reservations about flying across the country to buy a vehicle. Especially if it is 2-3 years old and still under warranty. Trucks deprecate 1k a month from new. Pick up a nice lease return. Save $30k from new. I live in an area with an older population, and dealers keep the prices high because older folks are less likely to travel 6 hours to the next set of larger towns. I just book a ticket and fly out. Pickup the best deal I can find in the country.
@@getinthespace7715 Nice! I grew up in MI, the newer vehicles don’t usually have a ton of rust on them yet, but the older ones there you have to watch out for. A lot of people from MI actually seek out older vehicles from the south due to rust. Another reason for the cheaper truck price could be shear volume and because the vehicle may be imported from Canada. A lot of vehicles in MI comes from Canada…dealers in the US pay less at auction due to the exchange rate. Best of luck and congratulations on your new vehicle!
its not ideal, but it is doable. And if you are buying one of these cars to help get out of crippling debt, you have to do all things doable to clean up your mess
Another approach is to have a super strong sixth sense (or bring someone with you who has it) to detect someone's character and honesty. I know this approach isn't for everyone, but I don't have the car inspected before I buy it by doing the following: Of course run the Carfax and look at any maintenance records they have. I know the basics of looking over a car, what I can see and gather while around it and driving it (e.g. shifting slowly from gear to gear while parked and listening to transmission, listening to suspension while driving slowly in a parking lot and taking turns, looking for oil and fluid leaks, etc.) And I'm able to discern if I can trust what the seller tells me about the car with a high level of probability through the posting language, photos, communications via email/phone/text, and the condition of the car interior, their house, and other belongings. All of these things work together to tell me if they take care of their stuff and if they're telling me the truth. It's not 100% fool proof, but it hasn't failed me yet in 10+ old used car purchases. And if I smell anything funny along the way in terms of their character or honesty, I walk away immediately. Just my 5 cents!
Not quite that far but I've done this. I told him it was my car, I had a fat tax return and I wanted to know the top priorities he would put into the car, necessary or optional. 50 bucks later, he told me $2500 worth of small upgrades he suggested, I haggle the price of the car down $1000 and got $400 worth of repairs done back home. Didn't even have to trust the mechanic, his incentive was to tell me every little thing wrong to milk my repair budget.
Awesome video George. One thing worth mentioning, is ask yourself, how much does your car sit parked doing nothing. Most cars likely spend most of their lives parked and not actually in motion, proving the point you don't need the latest and greatest or coolest as your poor bessy is sitting idle most of her life anyhow. It's a tool to get you from A to B for most of us.
Make sure to get the car inspected. In a lot of the country, the Toyota or Honda may run great but the subframe or suspension may be rusted away. My son had a Lexus RX400h that ran perfectly for 285k miles but had to be junked because of the subframe rust holes. Make sure to get an inspection.
My daughter just bought her very 1st car. She bought a 2003 Toyota Camery with a clean title & Car Fax Report, 1 previous owner with 149,000 miles. She paid $5,500 cash here in Texas.
Currently helping a coworker get out of debt. He had a car payment on a Camry but carvana is willing to pay 8 grand over what he owes. I recently purchased a cheap Corolla to fix up. Told my co worker I’d sell him the Corolla after I fixed it up for a fair price if he takes the remaining money and pays off some of his debt.
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
Honestly, I'm surprised that this mrs Angela Christine Derle is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well.
I just bought a 2011 Ford Fusion SEL for only $4,000 and from a dealer. Has 168k miles but I'm so glad I found something for a reasonable price Also, to add this car to my insurance (USAA) along with my 5th wheel and motorcycle. It was only an extra $20.25
I miss my Buick LaSabre. When it finally died it had over 500,000 miles. I was able to drive it 518 miles without having to fill up, one way. I would fill up before leaving and top off again before finishing my trip. Oh how I miss my LaSabre 😔😞
But I also think that $8500 is the new $5000 car. You can get a car within 10 years and under 150k miles for $8500 but its really hard for 5k. A $5k car today is the equivalent of a $3500 car from 5 years ago
Had the VW Beetle been water-cooled, it would still be on the market in some form today. It's not, but the water-cooled Corolla is. The Corolla out-Beetled the Beetle.
08 Corolla owner here. Definitely plan on driving until the wheels fall off and it’s been a great car. But repairs and maintenance costs are high no matter what these days. $700 radiator, $500 for front brakes (did myself, would have been $1500 at the shop since the calipers were bad too), $1700 for AC (had driven without AC for years but eventually the compressor clutch seized preventing the entire serpentine belt from running properly), you get the point. I’ve been putting off a clutch replacement (230k miles on original clutch, about a 2k repair needed in the near future) and new shocks/struts which will run 2k total if I don’t do them myself. It’s possible to get from a to b like I am but at some point things need repaired/replaced no matter how reliable the vehicle is, and those costs are not cheap.
What's 700.00 for a radiator on a 08, I bought a 97 model Corolla deluxe edition back in November of 2023 and it had 319,000 mi on it it's now at about 336-3370 me I just have to check the oil transmission fluid once in a while check the oil more frequently because it has so many miles on it and the air conditioning still works for a 27 almost 20 years old car and I think that the body style looks better in the 93 through 2001 model Corollas which are a little bit smaller but they're even more iconic turn the 2001 to 2010 or 11 models. According to the original owner Sherry the car sat for a year I had to get a new battery for it but other than that the only other thing I had to do is fix the trunk latch and buy some new tires because the tires on it were dry rotted but I drove around for a few months like that until I could afford newer tires, I think the original radiator still in this car and a new radiator for it would be like $200 or less.
@loodakris5928 lol well the thing for my cars. I started with corola. I need a bigger car so as family grew I got larger cars but never sold the old ones because I they run great. Corola..camry..rav4..4runner. I think the only thing I am missing I a mini van or full size suv. I don't see myself getting one any time soon
@@frederickvalencia4976 thanks for Thanks for the reply. Yeah that’s a wise way to do it. My family is growing. Wife wants a minivan but I’m trying to hold off on that for awhile. Was just wondering about the newer cars because they’re getting more electrical.
I work at a Toyota dealer. I got a gr Corolla, a tundra, and I bought a rav4 that needed a transmission and now the wife drives it. My manager probably has like 15 Toyotas. He bought all of them from customers that didn’t want to pay for the repairs and did the work himself. Everything from sequoias and Prius’ to supras and mr2’s and everything in between
@@frederickvalencia4976 thanks for the reply. Thats a great way to do it! Was just wondering if you liked the newer cars because they are getting more electrical and harder to work on. My family is growing as well and my wife wants a minivan. Im trying to hold off on it. They cost a lot. LOL!
I got my 2008 Honda Accord for $5,300 and my wife got her 2010 Honda Civic for about the same! Only money we’ve poured into it is oil changes and tires. Definitely possible :)
@@TanManFixes The newer Toyota hybrids the WARRANTY is 10 years. Meaning they last a lot longer on average. More like 15-20+. But definitely a risk on an old Prius if you're buying one. You can have a dealer check the battery health for you before you buy it, if it's healthy it'll last plenty more.
Love my Corolla with a stick shift. Really, if you can drive stick, the resale value tends to be less. Great for buyers, not so great for sellers (unless it’s a classic vehicle). The seller I bought my Corolla from had been trying for so long to find a potential buyer who could even drive it that they worked with me on the price because I was the first one able to drive it. Seriously y’all, learn stick
@@noreenn6976 I agree wholeheartedly. In late 2022 I purchased a new Corolla Cross (an SUV version of the Corolla). I'm hoping to get at least 15 years and 250,000 miles out of it.
I drove a 97 thunderbird for 12 years. Rusted to shit (NYC) maybe $7000 repairs over the 12 years I had it. Owning it allowed me to save up for a downpayment for a house and buy a slightly used Mazda 3 manual in cash when I moved to Georgia.
Hey Man! I’m a car wholesaler in Nashville and a couple good options here but I wouldn’t trust consumer reports entirely! They are donation based, and you can see that in their numbers each year when they give their reports. A couple brands that you can get for 5k and keep on the road for forever are: Subaru, Toyota, Honda, Mercedes(yes a German car can be reliable, cannot beat a good mid 2000’s Mercedes), and 90’s Lexus. They will drive for forever, Lexus’s is super achievable to get in that price point. Love the channel!!!! Great content!!
I fully agree on a good Mercedes. We buy them at 100,000 miles and sell them at 200,000 miles with very few problems and repairs. We are on our third Mercedes ML class and they just will not die.
@@annahopp The problem with Mercedes is the parts are expensive and they are not easy to work on so labor is usually pretty high. So if something does go wrong, it sets you back quite a bit.
You can get salvage title vehicles that are in great shape. Especially older vehicles since cosmetic damage can be costly to repair and an insurance company will total older vehicles for minor fender benders. That's why you take the vehicle to a certified independent mechanic to have them look at everything, the inspection might cost you a couple hundred bucks, but can save you thousands on the price vs a clean title. Also, if you're looking in a really small budget range, you're not really concerned about retaining the nonexistent value.
I had a 2003 Corolla for 13 years And it had nothing wrong with it and let it go for the newer generation with the CVT transmission. Not only did Toyota sell me a car a defective blue crush paint that they won’t recall but now I’m reading the CVT transmissions don’t last as long.
While I agree with your premise, I love my early 90- mid-00's cars and have a few of them in my household, but there is one thing that you need to remember when looking to buy one. make sure there are parts available. In the last 5 or so years many OEM and aftermarket part manufactures have stopped making new parts for a lot of the vehicles from pre-2007 ( 2007 is when there was a major change to emission regulations and the addition of CAN-BUS so a lot of models were refreshed for the 07-08 model year), so if you do get a vehicle from before 2007 make sure to look in to normal wear parts like ball joints, shock/struts, PCV valves, etc... to make sure that you can still get them or you might be playing the rockauto or junkyard crapshoot to get parts. Oh and try to find the cars from the south, rust is a real thing in the northern states.
Honestly I drive my cars so long.....I am 41 and have only driven 3 cars. My last I did buy brand new because I knew I was keeping it long term. Been driving my current car 15 years!
2017 bolt EVs are now less than 10k. Being EV my experience is my utility bill is up about $20/month, but there’s no gas. You can add those savings to your debt snowball.
@@justinj452 Mine has 250,000 miles and is 7 years old.battery holding strong. You’ve bought into the myths that anti EV people spread with no evidence. Tell you what when the battery fails I’ll let ya know. With the thermal management systems most modern EVs are using they should outlive the rest of the vehicle easily.
@@evinthestix7451Yep. My used Leaf has been the most reliable vehicle I’ve ever bought. I’ve had it for 4 years and only replaced the windshield wiper fluid lol nothing breaks.
03 lexus es300 mine has over 250,000 miles and I never have problems with it. I bought it about 12 years ago for around $9,000... it's fully loaded even has a touch screen... they truly are built to last everything works the only thing that sucks about older cars is they don't have Bluetooth other than that I really don't care for all the newer technology in cars these days anyway
The last brand new car I owned was the first car George introduced - a 2005 Toyota Corolla. I had bad luck with brakes and suspension and exhaust/emissions, probably because I took it to incompetent mechanics when it needed repairs. But I had it's engine running like a grandfather clock. And contrary to what George said, I was able to get around 40MPG highway, much more than 29MPG.
I just sold my 05 trail blazer with 180k miles on it. It was incredibly reliable. If you look around, there are tons of these still on the roads. Sold it for $4k and I’m sure it has years of life left in it.
5 Better Cars Under 5k in May 2024 1 Mercury Mila 2 GMC Envoy Buick Rainer 3 Lincoln Town Car Grand Marquis 4 Ford Ranger 5 2013 Chevy Impala Bonus 2004 Mustang GTs
I purchased a 1996 Corolla for college with 70k miles for $2,500. This was in 2002. I drove it through 2019 and donated it with 310k miles to a charity.
I just bought a 2012 Civic LX for 6.5k and needs about 500 or so to update its maintenance. It has 140k miles on it , i think its a pretty good deal giving the facts that all the cars i found were asking 8k or more.
where i live its hard to find a honda or toyota in decent shape for under 5k. This is my opinion but heres my list 1. Ford crown vic/Mercury grand marquis/Lincoln town car with the 4.6. 2. any GM with the 3800 v6 3. Mazda 3 or 6. I've seen them below 5 before but this one is a little harder to find in that price range. 4. Ford ranger just make sure you know which engine you're getting. Ive also seen some obs and some 99-06 silverados but if ya live in the rust belt its gonna have rust same with the rangers so check the frames but these silverados are solid(4l60e is a lil meh) unless ur going for good gas mileage. Plus the Ford's and the GM cars are easy to get parts for. The only bad ones ive seen of these are rusty or unmaintained. This is just my opinion but I have had experience with all of these and they've been solid.
Search Buicks and you will find deals, for example the ~2000 Buick LeSabre. They never die, and a lot of older people drive these leaving them with very low miles. Powered by the indestructible 3800 GM V6. Super cheap to fix. Should be on this list for sure.
Don’t over look most older pickup trucks if you don’t have to haul the whole family all the time. Aside from maybe a 5.4L f150, trucks last a long time and are often times cheaper/simpler to fix. A transmission rebuild for my 99 Tahoe(same as the Silverado) is still about $2k in 2024. In case you don’t know, that’s dirt cheap for an entire transmission with a warranty. Not the most fuel efficient but youll likely save enough in complete operating costs to offset. I get 13mpg and it’s still way cheaper to keep driving than to upgrade.
yo i had a lexus es 330 which is close to the one in the video and it was an amazing car tbh but the repairs were more costly than average. keep in mind that even if you get a cheaply priced luxury car, the repair is still gonna be luxury. and they somehow managed to make that 2005 car so compact in the engine bay it was dang near impossible to work on in the garage. (a leaking power steering hose in my case)
One thing to keep in mind as someone who drives an 05 Nissan Titan and that's the newest vehicle I've owned. Getting cars that are old and and high mileage comes with the fact that rubber seals wear out. Old cars will leak fluids because rubber stays good for only 7 years, that includes tires. You can get a "brand new" 7 year old tire, that thing is incredibly dangerous so be aware of that. Age and mileage will effect, shocks and struts, springs, and bearings, and weather seals, so keep that in that in the back of your head when you drive an old vehicle, and use that as a motivator to get out of debt as fast as you can and move up to steps 4, 5, and 6. Be motivated to buy a newer car in cash. Fortunately older cars like Camrys and Accords are pretty easy and cheap to work on, so if you have to replace struts, or wheel bearings, it'll be a good opportunity to learn a new skill. George, the "Like a Rock" campaign was used to promote the GM400 Platform from 1991-2003 Chevy trucks, before they were called the Silverado and that was just a trim package. Mazda used "Vroom Vroom", Lexus uses "The Pursuit of Perfection".
The problem with buying used is that most people do not take care of them. If you find a gem, then that is worth it but there are a lot that say they are gems but end up being crap.
I just bought myself a "new car": A 2009 Mercedes with 99,000 miles for $4,000. It was a model that nobody wanted, so I patiently waited until the price at the dealership melted from $6,900 to $4,000. Runs, drives, brakes, is safe. And yes, you can finance a used car at your local credit union if you can absolutely not come up with with the money. Anything above $5,000 is a want unless you have a business reason or a million bucks in the bank.
Another important consideration to look at is where the car has been mostly driven…midwestern cars that old probably a bad idea. Always pay and get a pre purchase inspection.
George, I really love your content and this channel, but this is a struggle for me to understand. Why would you spend 5k on something with close to 200k miles? It doesn't matter what manufacturer it is, 200k is getting to the end of a cars life. You're going to be tapping that emergency fund sooner or later with a 200k car. Maybe even for half of what the car is worth if you need and engine or transmission. I would think It is better to save 10k for something that will last. Or finance the last 5k over a short time period so you dont buy junk. Not trolling, just my thoughts. Keep up the awesome channel. 🤙
I really think this content is directed towards the lowest common denominator and that I mean, it’s the people that can’t control their finances in anyway shape of form and they need a very cheap car to get back-and-forth to work. That’s the only way this makes sense otherwise spend more and get a later model from one of the better brands (Toyota/Honda).
Two years ago I bought a 5 speed 2006 Honda accord for $3300. It had 164,000 miles, it now has 215000 and stills runs like a champ. Mileage is just a number
@@VoyageHomeImprovements nice story...it's just not the norm. a 2006 car is like gambling, you won, but if you lost, then you are out thousands. Ramsey loves to live in the past when it comes to cars...keep in mind he hasn't driven a junker since the late 80's early 90's, when you could drive a car out of the junkyard...but times are different and he so far removed from that, it's unreal. he's out of touch with modern cars.
I paid 28k for my rav4 with a 1.9% interest. I’m paying 1.3k in interest total it’s a new car well taken care of and a Toyota it’ll last me forever. Getting a new car isn’t always bad
I have a 2017 Subaru legacy that I bought in November 2016. I bought it new and been paid off for years now. It was the last “new car” I will ever buy and it has been very good to me. 155k miles and only required wear and tear maintenance has been needed since I bought it. I will drive it as long as I can. However, I’m already putting away money now so I can buy my next used car 100 percent in cash. I refuse to ever have a car payment again. Me and my husband are both doing this now - as we both commute to another state for work.
Agree with the sentiment, but it’s objectively true that cars with 20+ years of wear & tear have weaker frames and deteriorating metal. On top of that, the auto industry has made immense progress on air bags, frame design, and have a more extensive safety testing plan. Therefore, they’re honestly not as safe.
I had a 2005 Honda Accord EX-L (Same chassis and drivetrain as 06). Bought it used in 2014 with 90k miles on it. Drove it another 200,000 miles before I upgraded it last year. Very minimal upkeep.
Sis and I still have our 2006 SC Corolla with just little over 200K. Walter runs beautiful, get us to point A to point B safely, and anywhere in between. We are original owners and paid Walter within 4 years. The previous car was also a Corolla, original owner as well, and lasted us 16 years (body was rusting which Toyota is poorly for). I told sis that our next car will be a Dodge Hellcat. 🙂 We are well into baby steps 7 and have been for years.
While I was in college and while paying off $170k in student loans, i hadn't paid over $4,000 (before DMV fees) for a vehicle. The key to success: 1994 Honda Accord WAGON that I beat the absolute snot out of for ~12 years. It gave itself a "bespoke patina paint/appearance package" when I got around to selling it. I still miss that car...
Sorry, no list is complete without the Ford Panther chassis (Town Car, Grand Marquis, Crown Victoria) and the Buicks with the 3.8 V6. They are excellent cars, easy to fix and CHEAPER than the Japanese cars. I flunk you for an incomplete answer. These grandma cars and grandma takes care of her stuff.
The issue we ran into with buying cars as old as those recommended in the video was that our mechanic simply couldn't source parts any longer when they did need repairs.
A 20 year old car with 200k miles for $5,000 is ridiculous. Parts will soon be unobtainable and the car will be pretty worn out regardless of how well it goes is taken care of
Biggest mistake was not listing the second gen prius. A 2004-2009 prius can be found with 150k miles for $5000. You get amazing fuel economy (mine gets 48mpg average at 250k miles), they are extremely reliable (rated one of the most reliable vehicles of all time), are easy to work on, and can last to 600k miles (saw one for sale a few weeks ago that had 600k miles on the original engine, transmission, and battery)
@@TanManFixes oh no. So you mean that over a 10 year period you save $10k in gas but then have to buy a $1500 battery? Had to replace mine in my prius 3 years ago. Cost me $1500 to have one with a lifetime, transferrable warranty installed. But the prius saves $1000 in gas a year. So you could replace the battery every other year and it would still save money over even a corolla
Sorry. But it's best to go new. I purchased my nissan altima new in 2010. 8yrs stright no issues. Only had 3 repairs on the car. AC compressor, master brake cylinder, and right side axle. No engine or transmission issues. 158,000 miles and still going strong. Purchased new for 23k. No more breaking down on the road or carrying tools
Car to me seems to be a liability to invest cash into, not that I am against the luxury of car but if you have a good invest to back up such luxury that's cool or you invest into car for mobile in yield more cash for you, With the current of the nation and the government not having focus on it rather being concentrated investing in on war of other nation, what we are to do in this situation is having a Fin advisor who can help and assist with insight for us to build a good portfolio, to invest in cars.
There is a lot of honesty in those words, the investment you choose isn't right or wrong, just depends on the kind of business person you are or simply the kind of person you are. However, the end game is investing money long term creates wealth every time. Just pick what you like and understand, invest and it will pay off. A lifetime of investing for 5 mil is not hard to accrue.
People get scared of the risk in investment but also forget there are risk also in investing in a car, the honest truth is that investment is the quickest path to financial freedom, the rich stays rich by spending like the poor yet investing! While the poor stays poor by spending like the rich yet not investing. it is good thing to start your Financial freedom this year with good investment idea.
Regrets are something that humans should not have in life because everything happens due to lack of information and that is why I am posting this here so that whoever sees it does not fall into the trap of regrets in the future. It is more advisable, as an employee, you should cultivate yourself by working and making investments as supporting income, so that you can stand on your own, but no employer will let you know so that you can be under them forever. People like Warren never worked for anyone that long to make him who he is today, instead they invested more in companies to manage their activities and earn a profitable return on investment.
For beginners it is advisable you invest through an expert trader who would serve as a mentor and a guardian to ensure you make profits and increase your accuracy when you make trades, in that way you get to make money with low risk of losing your hard earned money.
I agree. Based on firsthand encounter with one ‘’Linda Sue Baier’’ now i have 550k in a well diversified portfolio which has grown by 3x in the past 5 months with compounding, venturing doesn’t necessarily boil down to money but you also have to be informed, be patient and back it up with the help of a good Fin. Advisor
Is auto trader or private party best for a used Corolla? I only drive 400-500 miles a month. Being retired, I just drive locally to stores & to see friends. Thanks
Not my place to tell you how to do a show..... HOWEVER! I highly recommend doing this again with a popular RUclips Mechanic like the Car wizard. They will be great resources to supplement the point of. "you don't need to spend a lot to be reliable"
I think if your budget is $5000, you should be looking at a $2500 car. I bought a 2009 Toyota Corolla in 2021 with 120k miles on it, from a private seller I found on nextdoor, for $3500. Before the purchase, I went to a mechanic and asked them to do a PPI. That cost me $100. They pointed out a bunch of stuff that was wrong with the car - so, I asked them to give me a quote. Including struts replacement etc., the total cost they quoted was $2200. None of the issues the mechanic mentioned was a deal breaker for me (mainly the engine was in great shape), and so I ended up buying the car. Total cost of the car: $5800. I then spent another $350 on getting the car detailed and to get that new car smell. lol. So, for $6150, I had a "new" car for myself. I've been regular with maintenance (that's ~ $350-400 per visit to the mechanic every 5k miles) and since the purchase, I've put an additional 45k miles on it in the last 3 years. I hope to keep the car going for another 100k miles, at least, at which point, the adventure begins all over again.
Sounds like you could have DIY’ed it for $500-$700, with some quality parts from Rock Auto. But i understand not everyone has the tools or the want to DIY. But at that budget level, you might as well look at some videos, you are obviously trying to save money if you are looking at $2k cars.
@@chaselesser3191 I know that I could have DIY'd stuff; but I don't enjoy getting my hands dirty. My "new" car budget was $10k back then, and so even with what I spent, I came out with money left over in the account. Also, there's something called the time value of money. If you can make more money in the time you spend DIYing something you may not necessarily enjoy, it's not worthwhile. A simple example would be you buying a $10 product from amazon but realizing that you want to return it. Let's say, returning it costs you an hour of your life, and you know you could make more than $10 in that hour. Your time is better spent not returning that product and just giving it away to someone who may need it.
George great video, I’m not in the market for a car but great information, I wish everyone would heed it !! We have a Chevy Cruz 2000 something paid with cash $4000 this last year, a 2008 Toyota Tundra, yes paid off. Best feeling ever !!!
From someone who has been car shopping for a couple of months now... $5k on Autotrader means you need to add the dealer's fees ($500-$5,000), taxes ($200-$500) and then any title and registration fees.... And then, the cheaper the car, the more repairs you'll be paying for. It is not possible to buy a reliable car that will last you at least a few years for less than $10,000
@@jared19882yup I remember when my employer bought two new Chrysler hybrid fleet vehicles and they made it < 300mi before they broke down on the highway and needed to be towed to the dealership.
It is not possible to buy a reliable car that lasts a few years for under $10,000? LMAO... Dumbest thing I've ever heard... My Nissan that I bought for $1800 10 years ago... still runs like new. And that same car can still be bought in similar condition for only $3000 in today's market. And it's a Nissan... Not even the ultra reliable brand like Toyota, etc. Bought a Mazda 3 years ago for about $4000. All it requires all those years were regular maintenance and a 120k kit.
You should also filter for no accidents and vehicle history. Please don’t buy a car that hasn’t been well maintained. The brand won’t save you from stupid ppl
Uh. In the rust belt rust can kill a car prematurely. My unibody frame is rusting out quite badly so my car may not make it to 200k. I can fix a lot, but replacing the body isn't a practical amount of labor. Consequently, I avoid vehicles older than a decade
Go with the Toyota over a Honda because the Toyota has a timing chain that will not need replaced and will not break destroying your engine like in a Honda. The Lexus is also a Toyota by the way. In honorable mention in my opinion would be the Ford Crown, Vic Mercury, Grand Marquis and Lincoln Town car all the same vehicle. There's a reason that every Police department in the United States was buying the Crown Vic until the very end. They are not great on fuel, but they can easily get mid-20s if you don't drive it like a race. Car and repairs are often very cheap.
Ok bucko.... I'll come at you. 500 mi is just impractical for buying a used car. You make it sound like you can book a flight to pick it up or have it shipped. What happened to the general good advice to have a pre purchase inspections for prudence sake? What if you fly out there and you find out that you hate it? *shakes head* ok ok your larger point is still valid.
Although Toyota and Honda are arguably the best for reliability, I’d take a 12-15 year old lesser brand for $5,000 with around 125,000 miles over an appropriately 20 year old Toyota or Honda with 200,000 miles. I’d just be sure the car is also in good shape and isn’t a known unreliable make/model/year. Another pro tip is to learn how to drive a manual transmission if you don’t already, and target manual transmission vehicles. That will give you more options and cars that are arguably more fun to drive once you get the hang of them. Many cars are unreliable with their automatic transmissions options, but fine with the manual version. Yet so many of the cars are automatics that the manuals have to sell for less even though they will likely last longer. A broken automatic transmission will total most $5,000 cars. But paying for a new clutch costs about $1,000 and is the worst thing to happen to a manual transmission. And you only need to replace the clutch about every 100,000 miles if driven correctly. So maybe one time given that a $5,000 car is unlikely to last another 100,000 miles.
A 2005 Corolla is one year away from classic tags in PA. A 20 yr old car may not have drivetrain problems- it absolutely will have everything else problems. Source? Me, a dad of four teenagers who bought 4 really old cars and drove them into the dump at the end of high school because of rust. You should probably buy a few of them before you declare yourself the winner of your own game.
I'm not sure why you would search by one specific year for each car rather than a range of years (for instance 2003-2007 Corolla instead of just a 2005). That just unnecessarily limits the number of options that come up. And then you wouldn't have to have such a ridiculously large search radius to get results. I don't think anyone is driving 500 miles one way to buy a beater car.
I bought a 5000 dollar car in2019 it was a nightmare. My car was coput.I needed a car fast. Long story short got a chevy cruise with over heating problems. My snl trying to help me got burned real bad. Ended up selling it and get a new ford Fiesta couple months before covid. Just me an old lady suits me fine
As my first car. I just got a new 2024 hinda civic. Financially responsible? No. I was trying to get it with 0 downpayment. I got denied big time. But i put 10k down and i managed to get the price of the car of 29k to 26,800. S8nce it was the end of the month n they were "hitting quota" so not sure if that was good or if i could of honestly bargained more. I went alone so like i have no knowledge on that stuff. But the car is cute. And i just plan on keeping it forever and evenr and ever. And ever. Or for 6 years when i get a better job n can pay for one in cash
I bought a 2007 Mazda6 from a used car dealership for 6k, a little over 2 years ago. 117k miles. The only money I've had to put into it is basic maintenance ( brakes, tires, oil changes)
Now it's just under 140k miles and still haven't had any major issues
Sweet
Money saved ❤ 🎉 invest the money you would be spending on a car and you will get wealthy 🎉🎉
I have a 2013 Mazda 6, bought it at 45k miles and I now have over 250k miles, alot of those as Uber miles. Never had a single major problem with it, just routine wear and tear. Engine and transmission still going strong.
Mazda apparently are great. A lot of videos say as much
I recently looked for a used Honda or Toyota in the middle TN area for under $5000. In reading the Carfax, most did not have clear titles, were in multiple major accidents and / or needed a couple of thousand dollars of basic repairs when I had a mechanic look them over. it’s one thing to look at ads, it’s another to actually go out and test drive the vehicles. I found it more difficult than the way you present it in this video.
I’ve bought several used cars in my time and it’s the same thing every time.. most people don’t do ANY maintenance except the bare minimum. I buy it and have to do all the fluids, brakes, rotors, tires, shocks, new headlights cause the old ones are beyond restoration and who knows what else. Usually takes several thousand in maintenance to get $2k to $8k dollar used car really reliable.
These guys make it sound sooo easy but I know George has no idea how to replace ball joints or probably even the oil.
It’s definitely cheaper than financing but most times more complicated and time consuming.
@@chief5981 Pretty sure George's Tesla doesn't need oil.
@@westbccoast what the heck is even a Tesla?
@@chief5981 Right I can't answer that, what I do know it sounds like a fake car made up to sound real.
@@westbccoast yeah, if it doesn’t use oil then it probably ain’t American
I flew to Detroit to buy my used truck. Saved me $8k over local prices. Negotiated the cost before I bought the ticket. Flew out for $90 one way. $70 cab ride to dealer. $200 gas back. Used 1 day of vacation.
My husband has done this more than once. People think he’s crazy. Think big picture!
@afcopwife , exactly. have no reservations about flying across the country to buy a vehicle. Especially if it is 2-3 years old and still under warranty. Trucks deprecate 1k a month from new. Pick up a nice lease return. Save $30k from new.
I live in an area with an older population, and dealers keep the prices high because older folks are less likely to travel 6 hours to the next set of larger towns.
I just book a ticket and fly out. Pickup the best deal I can find in the country.
Hi from Detroit
@@getinthespace7715 Nice! I grew up in MI, the newer vehicles don’t usually have a ton of rust on them yet, but the older ones there you have to watch out for. A lot of people from MI actually seek out older vehicles from the south due to rust. Another reason for the cheaper truck price could be shear volume and because the vehicle may be imported from Canada. A lot of vehicles in MI comes from Canada…dealers in the US pay less at auction due to the exchange rate. Best of luck and congratulations on your new vehicle!
I love this 🙌🏾
The traveling 500 miles to buy the car but first get it checked out by a trusted mechanic bit is really hard to pull off in reality.
its not ideal, but it is doable. And if you are buying one of these cars to help get out of crippling debt, you have to do all things doable to clean up your mess
Another approach is to have a super strong sixth sense (or bring someone with you who has it) to detect someone's character and honesty. I know this approach isn't for everyone, but I don't have the car inspected before I buy it by doing the following:
Of course run the Carfax and look at any maintenance records they have. I know the basics of looking over a car, what I can see and gather while around it and driving it (e.g. shifting slowly from gear to gear while parked and listening to transmission, listening to suspension while driving slowly in a parking lot and taking turns, looking for oil and fluid leaks, etc.) And I'm able to discern if I can trust what the seller tells me about the car with a high level of probability through the posting language, photos, communications via email/phone/text, and the condition of the car interior, their house, and other belongings. All of these things work together to tell me if they take care of their stuff and if they're telling me the truth. It's not 100% fool proof, but it hasn't failed me yet in 10+ old used car purchases. And if I smell anything funny along the way in terms of their character or honesty, I walk away immediately.
Just my 5 cents!
And how many other people live in that 500-mile area that are also looking to buy that car.
Ramsey folk are millionaires who pretend to be in reality. They think you can sell a car you don't own & don't know how a lease ends.
Not quite that far but I've done this. I told him it was my car, I had a fat tax return and I wanted to know the top priorities he would put into the car, necessary or optional. 50 bucks later, he told me $2500 worth of small upgrades he suggested, I haggle the price of the car down $1000 and got $400 worth of repairs done back home.
Didn't even have to trust the mechanic, his incentive was to tell me every little thing wrong to milk my repair budget.
Awesome video George. One thing worth mentioning, is ask yourself, how much does your car sit parked doing nothing. Most cars likely spend most of their lives parked and not actually in motion, proving the point you don't need the latest and greatest or coolest as your poor bessy is sitting idle most of her life anyhow. It's a tool to get you from A to B for most of us.
Make sure to get the car inspected. In a lot of the country, the Toyota or Honda may run great but the subframe or suspension may be rusted away. My son had a Lexus RX400h that ran perfectly for 285k miles but had to be junked because of the subframe rust holes. Make sure to get an inspection.
Were you expecting more than 285k miles?
@@pete5691. Yep. I have a Toyota Land Cruiser that I still drive regularly. 460k miles. All original except a couple of starters and a radiator.
Salt from hard winter areas?
My daughter just bought her very 1st car. She bought a 2003 Toyota Camery with a clean title & Car Fax Report, 1 previous owner with 149,000 miles. She paid $5,500 cash here in Texas.
Own a 2007 Corolla, gets 32mpg City, 40mpg highway. Very reliable, minimal repairs. Keeping it until the wheels fall off.
Me too
Currently helping a coworker get out of debt. He had a car payment on a Camry but carvana is willing to pay 8 grand over what he owes. I recently purchased a cheap Corolla to fix up. Told my co worker I’d sell him the Corolla after I fixed it up for a fair price if he takes the remaining money and pays off some of his debt.
smart
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Hallelujah God is still working wonders, l place myself in position for such a miracle.The best thing I've seen today on RUclips thanks a lot..
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
Honestly, I'm surprised that this mrs Angela Christine Derle is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well.
I just bought a 2011 Ford Fusion SEL for only $4,000 and from a dealer. Has 168k miles but I'm so glad I found something for a reasonable price
Also, to add this car to my insurance (USAA) along with my 5th wheel and motorcycle. It was only an extra $20.25
I miss my Buick LaSabre.
When it finally died it had over 500,000 miles. I was able to drive it 518 miles without having to fill up, one way. I would fill up before leaving and top off again before finishing my trip.
Oh how I miss my LaSabre 😔😞
...wow. Maybe my next car should be a LaSabre! haha
I have had SIX Buicks or Oldsmobiles with the 3.8 V6. I get bored with them before they wear out.
Lexus : The Relentless Pursuit Of Perfection
As a car enthusiast i always recommend getting the most lexus ES you can afford. Best bang for your buck. Avalon is also great
But I also think that $8500 is the new $5000 car. You can get a car within 10 years and under 150k miles for $8500 but its really hard for 5k. A $5k car today is the equivalent of a $3500 car from 5 years ago
I knew you were going to say an old Corolla. I've been driving a 2004 Corolla for over 16 years now.
Had the VW Beetle been water-cooled, it would still be on the market in some form today. It's not, but the water-cooled Corolla is. The Corolla out-Beetled the Beetle.
My wife drives a 2004 Corolla. I'm 31 and pretty sure it'll outlive me
08 Corolla owner here. Definitely plan on driving until the wheels fall off and it’s been a great car. But repairs and maintenance costs are high no matter what these days. $700 radiator, $500 for front brakes (did myself, would have been $1500 at the shop since the calipers were bad too), $1700 for AC (had driven without AC for years but eventually the compressor clutch seized preventing the entire serpentine belt from running properly), you get the point. I’ve been putting off a clutch replacement (230k miles on original clutch, about a 2k repair needed in the near future) and new shocks/struts which will run 2k total if I don’t do them myself. It’s possible to get from a to b like I am but at some point things need repaired/replaced no matter how reliable the vehicle is, and those costs are not cheap.
What's 700.00 for a radiator on a 08, I bought a 97 model Corolla deluxe edition back in November of 2023 and it had 319,000 mi on it it's now at about 336-3370 me I just have to check the oil transmission fluid once in a while check the oil more frequently because it has so many miles on it and the air conditioning still works for a 27 almost 20 years old car and I think that the body style looks better in the 93 through 2001 model Corollas which are a little bit smaller but they're even more iconic turn the 2001 to 2010 or 11 models.
According to the original owner Sherry the car sat for a year I had to get a new battery for it but other than that the only other thing I had to do is fix the trunk latch and buy some new tires because the tires on it were dry rotted but I drove around for a few months like that until I could afford newer tires, I think the original radiator still in this car and a new radiator for it would be like $200 or less.
I have a 2004 dodge dakota v8 i boight last year for 4800. Paidd of my debt. O got my emergancy fund and love this truck.
29mpg on a Corolla? The worst i ever saw with putting over 200k miles on mine was 33mpg. Usually high 30s.
I am a car guy I own 4 toyotas. Before Dave kills me they are all cash and old. From 2007 to 2020
How do you like the new one?
@loodakris5928 lol well the thing for my cars. I started with corola. I need a bigger car so as family grew I got larger cars but never sold the old ones because I they run great. Corola..camry..rav4..4runner. I think the only thing I am missing I a mini van or full size suv. I don't see myself getting one any time soon
@@frederickvalencia4976 thanks for
Thanks for the reply. Yeah that’s a wise way to do it. My family is growing. Wife wants a minivan but I’m trying to hold off on that for awhile. Was just wondering about the newer cars because they’re getting more electrical.
I work at a Toyota dealer. I got a gr Corolla, a tundra, and I bought a rav4 that needed a transmission and now the wife drives it.
My manager probably has like 15 Toyotas. He bought all of them from customers that didn’t want to pay for the repairs and did the work himself. Everything from sequoias and Prius’ to supras and mr2’s and everything in between
@@frederickvalencia4976 thanks for the reply. Thats a great way to do it! Was just wondering if you liked the newer cars because they are getting more electrical and harder to work on. My family is growing as well and my wife wants a minivan. Im trying to hold off on it. They cost a lot. LOL!
I got my 2008 Honda Accord for $5,300 and my wife got her 2010 Honda Civic for about the same! Only money we’ve poured into it is oil changes and tires. Definitely possible :)
No timing belt services needed 😅?
@@user-ng6of6eb6r nope for neither of us. 190,000 miles still goin strong.
@@user-ng6of6eb6r 2008 Honda accord has a timing chain, so no issues there
where did yall find these deals at?
I want that bumper sticker. Unfortunately, it isn't in my budget.
Etsy, ten bucks. I just ordered it.
@@annahopp TEN DOLLARS?!? Do you know how many beans I can buy with ten dollars? 😁
@@cisium1184😂😂😂😂
The cars themselves may have a good track record, but you need to account for the risk of the previous owner not taking good care of the car
2004-2009 Prius is king. Next up is 2000-2005 Buick lesabre or park avenue. Third would be ford crown Vic/mercury grand marquis. Legendary cars
hybrid battery = $3000 plus install. batteries only last about 10 years ....
@@TanManFixes The newer Toyota hybrids the WARRANTY is 10 years. Meaning they last a lot longer on average. More like 15-20+. But definitely a risk on an old Prius if you're buying one. You can have a dealer check the battery health for you before you buy it, if it's healthy it'll last plenty more.
I want that bumper sticker but unfortunately, my car doesn't have a bumper.😂😂
Love my Corolla with a stick shift. Really, if you can drive stick, the resale value tends to be less. Great for buyers, not so great for sellers (unless it’s a classic vehicle). The seller I bought my Corolla from had been trying for so long to find a potential buyer who could even drive it that they worked with me on the price because I was the first one able to drive it. Seriously y’all, learn stick
This is great smd I’m looking for a manual Corolla for a commuter
Built in security system! You can't ever use a valet, ask me how I know 😉
Great thought!
Sounds so unbelievable that y'all Americans can't drive a car unless it drives itself for you :D
My Corolla was just fine. It was a hatchback that allowed me to pick up Home Depot purchases without having to pay for an SUV.
My 2005 Corolla (270,000 miles) Just got totaled, bought a 2013 Corolla (98,000 miles).
Corolla - Best car I've ever owned
@@noreenn6976 I agree wholeheartedly. In late 2022 I purchased a new Corolla Cross (an SUV version of the Corolla). I'm hoping to get at least 15 years and 250,000 miles out of it.
I drove a 97 thunderbird for 12 years. Rusted to shit (NYC) maybe $7000 repairs over the 12 years I had it. Owning it allowed me to save up for a downpayment for a house and buy a slightly used Mazda 3 manual in cash when I moved to Georgia.
Hey Man! I’m a car wholesaler in Nashville and a couple good options here but I wouldn’t trust consumer reports entirely! They are donation based, and you can see that in their numbers each year when they give their reports. A couple brands that you can get for 5k and keep on the road for forever are: Subaru, Toyota, Honda, Mercedes(yes a German car can be reliable, cannot beat a good mid 2000’s Mercedes), and 90’s Lexus. They will drive for forever, Lexus’s is super achievable to get in that price point.
Love the channel!!!! Great content!!
I fully agree on a good Mercedes. We buy them at 100,000 miles and sell them at 200,000 miles with very few problems and repairs. We are on our third Mercedes ML class and they just will not die.
@@annahopp The problem with Mercedes is the parts are expensive and they are not easy to work on so labor is usually pretty high. So if something does go wrong, it sets you back quite a bit.
most of these aren’t even clean titles. Painful when the ramsey folks make videos on cars.
You can get salvage title vehicles that are in great shape. Especially older vehicles since cosmetic damage can be costly to repair and an insurance company will total older vehicles for minor fender benders. That's why you take the vehicle to a certified independent mechanic to have them look at everything, the inspection might cost you a couple hundred bucks, but can save you thousands on the price vs a clean title. Also, if you're looking in a really small budget range, you're not really concerned about retaining the nonexistent value.
Lol not true. I can find 10 of these cars in a 10 mile radius near me with titles that are just fine
I had a 2003 Corolla for 13 years And it had nothing wrong with it and let it go for the newer generation with the CVT transmission. Not only did Toyota sell me a car a defective blue crush paint that they won’t recall but now I’m reading the CVT transmissions don’t last as long.
While I agree with your premise, I love my early 90- mid-00's cars and have a few of them in my household, but there is one thing that you need to remember when looking to buy one. make sure there are parts available. In the last 5 or so years many OEM and aftermarket part manufactures have stopped making new parts for a lot of the vehicles from pre-2007 ( 2007 is when there was a major change to emission regulations and the addition of CAN-BUS so a lot of models were refreshed for the 07-08 model year), so if you do get a vehicle from before 2007 make sure to look in to normal wear parts like ball joints, shock/struts, PCV valves, etc... to make sure that you can still get them or you might be playing the rockauto or junkyard crapshoot to get parts. Oh and try to find the cars from the south, rust is a real thing in the northern states.
I bought my 2011 Rav4 with 170k miles for 5k. Needed new tires and the 150k mile tune up.
Honestly I drive my cars so long.....I am 41 and have only driven 3 cars. My last I did buy brand new because I knew I was keeping it long term. Been driving my current car 15 years!
Link us to the "Dave Ramsey made me drive this" sticker from the cover image!
2017 bolt EVs are now less than 10k. Being EV my experience is my utility bill is up about $20/month, but there’s no gas. You can add those savings to your debt snowball.
How much to replace battery that goes out within a couple years?
@@justinj452 Mine has 250,000 miles and is 7 years old.battery holding strong. You’ve bought into the myths that anti EV people spread with no evidence. Tell you what when the battery fails I’ll let ya know. With the thermal management systems most modern EVs are using they should outlive the rest of the vehicle easily.
@@evinthestix7451Yep. My used Leaf has been the most reliable vehicle I’ve ever bought. I’ve had it for 4 years and only replaced the windshield wiper fluid lol nothing breaks.
@@evinthestix7451did you get the battery recall done? If so, you made out like a bandit
fixing an EV that is out of warranty is going to be HELL
03 lexus es300 mine has over 250,000 miles and I never have problems with it. I bought it about 12 years ago for around $9,000... it's fully loaded even has a touch screen... they truly are built to last everything works the only thing that sucks about older cars is they don't have Bluetooth other than that I really don't care for all the newer technology in cars these days anyway
The last brand new car I owned was the first car George introduced - a 2005 Toyota Corolla. I had bad luck with brakes and suspension and exhaust/emissions, probably because I took it to incompetent mechanics when it needed repairs. But I had it's engine running like a grandfather clock. And contrary to what George said, I was able to get around 40MPG highway, much more than 29MPG.
I just sold my 05 trail blazer with 180k miles on it. It was incredibly reliable. If you look around, there are tons of these still on the roads. Sold it for $4k and I’m sure it has years of life left in it.
Been driving an 01 Tocoma since 06 still running good
Honda civic 2007 5 speed rust bucket was only $3k I call it the Dave Ramsey special.
Speed rust bucket ?
@@michael70545 speed, rust bucket
What's the mileage? I had a 91 Honda and a 93 Toyota both cross 300K miles around 2012-2013
5 Better Cars Under 5k in May 2024
1 Mercury Mila
2 GMC Envoy Buick Rainer
3 Lincoln Town Car Grand Marquis
4 Ford Ranger
5 2013 Chevy Impala
Bonus 2004 Mustang GTs
I purchased a 1996 Corolla for college with 70k miles for $2,500. This was in 2002. I drove it through 2019 and donated it with 310k miles to a charity.
Wow
I just bought a 2012 Civic LX for 6.5k and needs about 500 or so to update its maintenance. It has 140k miles on it , i think its a pretty good deal giving the facts that all the cars i found were asking 8k or more.
where i live its hard to find a honda or toyota in decent shape for under 5k. This is my opinion but heres my list 1. Ford crown vic/Mercury grand marquis/Lincoln town car with the 4.6. 2. any GM with the 3800 v6 3. Mazda 3 or 6. I've seen them below 5 before but this one is a little harder to find in that price range. 4. Ford ranger just make sure you know which engine you're getting. Ive also seen some obs and some 99-06 silverados but if ya live in the rust belt its gonna have rust same with the rangers so check the frames but these silverados are solid(4l60e is a lil meh) unless ur going for good gas mileage. Plus the Ford's and the GM cars are easy to get parts for. The only bad ones ive seen of these are rusty or unmaintained. This is just my opinion but I have had experience with all of these and they've been solid.
Search Buicks and you will find deals, for example the ~2000 Buick LeSabre. They never die, and a lot of older people drive these leaving them with very low miles. Powered by the indestructible 3800 GM V6. Super cheap to fix. Should be on this list for sure.
Don’t over look most older pickup trucks if you don’t have to haul the whole family all the time. Aside from maybe a 5.4L f150, trucks last a long time and are often times cheaper/simpler to fix. A transmission rebuild for my 99 Tahoe(same as the Silverado) is still about $2k in 2024. In case you don’t know, that’s dirt cheap for an entire transmission with a warranty. Not the most fuel efficient but youll likely save enough in complete operating costs to offset. I get 13mpg and it’s still way cheaper to keep driving than to upgrade.
yo i had a lexus es 330 which is close to the one in the video and it was an amazing car tbh but the repairs were more costly than average. keep in mind that even if you get a cheaply priced luxury car, the repair is still gonna be luxury. and they somehow managed to make that 2005 car so compact in the engine bay it was dang near impossible to work on in the garage. (a leaking power steering hose in my case)
Where can I get that bumper sticker
One thing to keep in mind as someone who drives an 05 Nissan Titan and that's the newest vehicle I've owned. Getting cars that are old and and high mileage comes with the fact that rubber seals wear out. Old cars will leak fluids because rubber stays good for only 7 years, that includes tires. You can get a "brand new" 7 year old tire, that thing is incredibly dangerous so be aware of that. Age and mileage will effect, shocks and struts, springs, and bearings, and weather seals, so keep that in that in the back of your head when you drive an old vehicle, and use that as a motivator to get out of debt as fast as you can and move up to steps 4, 5, and 6. Be motivated to buy a newer car in cash. Fortunately older cars like Camrys and Accords are pretty easy and cheap to work on, so if you have to replace struts, or wheel bearings, it'll be a good opportunity to learn a new skill.
George, the "Like a Rock" campaign was used to promote the GM400 Platform from 1991-2003 Chevy trucks, before they were called the Silverado and that was just a trim package.
Mazda used "Vroom Vroom", Lexus uses "The Pursuit of Perfection".
Mazda was Zoom Zoom
Owned an 02 Protege5
The problem with buying used is that most people do not take care of them. If you find a gem, then that is worth it but there are a lot that say they are gems but end up being crap.
You should always have the car checked out. Most places like Monroe’s or Midas should do this complimentary or for at most 40$. Well worth it
That’s if they let you take it off the lot.
@@dianeathoacardinalridge8788 right! You know it’s a pass if they don’t want you to look at it
I just bought myself a "new car": A 2009 Mercedes with 99,000 miles for $4,000. It was a model that nobody wanted, so I patiently waited until the price at the dealership melted from $6,900 to $4,000. Runs, drives, brakes, is safe. And yes, you can finance a used car at your local credit union if you can absolutely not come up with with the money. Anything above $5,000 is a want unless you have a business reason or a million bucks in the bank.
What model
It is a 2009 Mercedes B200 Turbo. A Canadian moving to Minnesota brought it over.
i'm going to dead honest ....sell that POS RIGHT NOW ....
Another important consideration to look at is where the car has been mostly driven…midwestern cars that old probably a bad idea. Always pay and get a pre purchase inspection.
George, I really love your content and this channel, but this is a struggle for me to understand. Why would you spend 5k on something with close to 200k miles? It doesn't matter what manufacturer it is, 200k is getting to the end of a cars life. You're going to be tapping that emergency fund sooner or later with a 200k car. Maybe even for half of what the car is worth if you need and engine or transmission. I would think It is better to save 10k for something that will last. Or finance the last 5k over a short time period so you dont buy junk. Not trolling, just my thoughts. Keep up the awesome channel. 🤙
I really think this content is directed towards the lowest common denominator and that I mean, it’s the people that can’t control their finances in anyway shape of form and they need a very cheap car to get back-and-forth to work. That’s the only way this makes sense otherwise spend more and get a later model from one of the better brands (Toyota/Honda).
Two years ago I bought a 5 speed 2006 Honda accord for $3300. It had 164,000 miles, it now has 215000 and stills runs like a champ. Mileage is just a number
@@VoyageHomeImprovements nice story...it's just not the norm. a 2006 car is like gambling, you won, but if you lost, then you are out thousands. Ramsey loves to live in the past when it comes to cars...keep in mind he hasn't driven a junker since the late 80's early 90's, when you could drive a car out of the junkyard...but times are different and he so far removed from that, it's unreal. he's out of touch with modern cars.
I paid 28k for my rav4 with a 1.9% interest. I’m paying 1.3k in interest total it’s a new car well taken care of and a Toyota it’ll last me forever. Getting a new car isn’t always bad
Forgot to add newer cars are more fuel efficient than older cars too so better mileage which you save on
I have a 2017 Subaru legacy that I bought in November 2016. I bought it new and been paid off for years now. It was the last “new car” I will ever buy and it has been very good to me. 155k miles and only required wear and tear maintenance has been needed since I bought it. I will drive it as long as I can. However, I’m already putting away money now so I can buy my next used car 100 percent in cash. I refuse to ever have a car payment again. Me and my husband are both doing this now - as we both commute to another state for work.
Honda Civics are great!
95 civic coupe with a 5 speed that i bought in 2016 for $200! Drove me thru undergrad till now. It’s super fun and get offers for it all the time.
Agree with the sentiment, but it’s objectively true that cars with 20+ years of wear & tear have weaker frames and deteriorating metal. On top of that, the auto industry has made immense progress on air bags, frame design, and have a more extensive safety testing plan.
Therefore, they’re honestly not as safe.
I had a 2005 Honda Accord EX-L (Same chassis and drivetrain as 06). Bought it used in 2014 with 90k miles on it. Drove it another 200,000 miles before I upgraded it last year. Very minimal upkeep.
Sis and I still have our 2006 SC Corolla with just little over 200K. Walter runs beautiful, get us to point A to point B safely, and anywhere in between. We are original owners and paid Walter within 4 years. The previous car was also a Corolla, original owner as well, and lasted us 16 years (body was rusting which Toyota is poorly for). I told sis that our next car will be a Dodge Hellcat. 🙂 We are well into baby steps 7 and have been for years.
While I was in college and while paying off $170k in student loans, i hadn't paid over $4,000 (before DMV fees) for a vehicle. The key to success: 1994 Honda Accord WAGON that I beat the absolute snot out of for ~12 years. It gave itself a "bespoke patina paint/appearance package" when I got around to selling it. I still miss that car...
Sorry, no list is complete without the Ford Panther chassis (Town Car, Grand Marquis, Crown Victoria) and the Buicks with the 3.8 V6. They are excellent cars, easy to fix and CHEAPER than the Japanese cars. I flunk you for an incomplete answer. These grandma cars and grandma takes care of her stuff.
What should i get for a cheap reliable minivan?
The issue we ran into with buying cars as old as those recommended in the video was that our mechanic simply couldn't source parts any longer when they did need repairs.
I have two rules. I stay away from CVT transmissions and I only buy vehicles that have cassette tape players.
Saving up to buy my mom's 2016 hrv from her. Should have it in the next couple months
A 20 year old car with 200k miles for $5,000 is ridiculous. Parts will soon be unobtainable and the car will be pretty worn out regardless of how well it goes is taken care of
Do you recommend buying a used corolla with 240K miles? Thats all I can seem to find in my area..
*DONALD NATHAN SCOTT.*
Ill try sometime. Im sure it will be a challenge in the northeast. Im sure its doable. You're from Boston, you know how it is in the rust belt lol
Biggest mistake was not listing the second gen prius. A 2004-2009 prius can be found with 150k miles for $5000. You get amazing fuel economy (mine gets 48mpg average at 250k miles), they are extremely reliable (rated one of the most reliable vehicles of all time), are easy to work on, and can last to 600k miles (saw one for sale a few weeks ago that had 600k miles on the original engine, transmission, and battery)
except hybrid batteries die after ten years LOL ,,,,great advice !
@@TanManFixes oh no. So you mean that over a 10 year period you save $10k in gas but then have to buy a $1500 battery? Had to replace mine in my prius 3 years ago. Cost me $1500 to have one with a lifetime, transferrable warranty installed. But the prius saves $1000 in gas a year. So you could replace the battery every other year and it would still save money over even a corolla
Sorry. But it's best to go new.
I purchased my nissan altima new in 2010.
8yrs stright no issues.
Only had 3 repairs on the car. AC compressor, master brake cylinder, and right side axle.
No engine or transmission issues. 158,000 miles and still going strong.
Purchased new for 23k. No more breaking down on the road or carrying tools
Car to me seems to be a liability to invest cash into, not that I am against the luxury of car but if you have a good invest to back up such luxury that's cool or you invest into car for mobile in yield more cash for you, With the current of the nation and the government not having focus on it rather being concentrated investing in on war of other nation, what we are to do in this situation is having a Fin advisor who can help and assist with insight for us to build a good portfolio, to invest in cars.
There is a lot of honesty in those words, the investment you choose isn't right or wrong, just depends on the kind of business person you are or simply the kind of person you are. However, the end game is investing money long term creates wealth every time. Just pick what you like and understand, invest and it will pay off. A lifetime of investing for 5 mil is not hard to accrue.
People get scared of the risk in investment but also forget there are risk also in investing in a car, the honest truth is that investment is the quickest path to financial freedom, the rich stays rich by spending like the poor yet investing! While the poor stays poor by spending like the rich yet not investing. it is good thing to start your Financial freedom this year with good investment idea.
Regrets are something that humans should not have in life because everything happens due to lack of information and that is why I am posting this here so that whoever sees it does not fall into the trap of regrets in the future. It is more advisable, as an employee, you should cultivate yourself by working and making investments as supporting income, so that you can stand on your own, but no employer will let you know so that you can be under them forever. People like Warren never worked for anyone that long to make him who he is today, instead they invested more in companies to manage their activities and earn a profitable return on investment.
For beginners it is advisable you invest through an expert trader who would serve as a mentor and a guardian to ensure you make profits and increase your accuracy when you make trades, in that way you get to make money with low risk of losing your hard earned money.
I agree. Based on firsthand encounter with one ‘’Linda Sue Baier’’ now i have 550k in a well diversified portfolio which has grown by 3x in the past 5 months with compounding, venturing doesn’t necessarily boil down to money but you also have to be informed, be patient and back it up with the help of a good Fin. Advisor
Is auto trader or private party best for a used Corolla? I only drive 400-500 miles a month. Being retired, I just drive locally to stores & to see friends. Thanks
Not my place to tell you how to do a show..... HOWEVER! I highly recommend doing this again with a popular RUclips Mechanic like the Car wizard. They will be great resources to supplement the point of. "you don't need to spend a lot to be reliable"
I think if your budget is $5000, you should be looking at a $2500 car.
I bought a 2009 Toyota Corolla in 2021 with 120k miles on it, from a private seller I found on nextdoor, for $3500. Before the purchase, I went to a mechanic and asked them to do a PPI. That cost me $100. They pointed out a bunch of stuff that was wrong with the car - so, I asked them to give me a quote. Including struts replacement etc., the total cost they quoted was $2200. None of the issues the mechanic mentioned was a deal breaker for me (mainly the engine was in great shape), and so I ended up buying the car. Total cost of the car: $5800. I then spent another $350 on getting the car detailed and to get that new car smell. lol. So, for $6150, I had a "new" car for myself. I've been regular with maintenance (that's ~ $350-400 per visit to the mechanic every 5k miles) and since the purchase, I've put an additional 45k miles on it in the last 3 years. I hope to keep the car going for another 100k miles, at least, at which point, the adventure begins all over again.
thanks for sharing! refreshing to see hard numbers for a real world scenario
Sounds like you could have DIY’ed it for $500-$700, with some quality parts from Rock Auto.
But i understand not everyone has the tools or the want to DIY.
But at that budget level, you might as well look at some videos, you are obviously trying to save money if you are looking at $2k cars.
@@chaselesser3191 I know that I could have DIY'd stuff; but I don't enjoy getting my hands dirty. My "new" car budget was $10k back then, and so even with what I spent, I came out with money left over in the account.
Also, there's something called the time value of money. If you can make more money in the time you spend DIYing something you may not necessarily enjoy, it's not worthwhile. A simple example would be you buying a $10 product from amazon but realizing that you want to return it. Let's say, returning it costs you an hour of your life, and you know you could make more than $10 in that hour. Your time is better spent not returning that product and just giving it away to someone who may need it.
$400 every 5k miles seems high. What all are you getting done?
@@daltonbrasier5491 that’s a good question, he’s probably better off buying a newer car if it requires that much maintenance every 5k
looking at a 2010 mazda on friday, wish me luck! priced at 4.5k if it runs smooth im getting it ive been without a car for almost half a year
I help people buy cars and yes solid Lexuses with hella miles are soooo good. Lots of value. Transverse v6 Lexus 👌RX ES
George great video, I’m not in the market for a car but great information, I wish everyone would heed it !! We have a Chevy Cruz 2000 something paid with cash $4000 this last year, a 2008 Toyota Tundra, yes paid off. Best feeling ever !!!
From someone who has been car shopping for a couple of months now... $5k on Autotrader means you need to add the dealer's fees ($500-$5,000), taxes ($200-$500) and then any title and registration fees.... And then, the cheaper the car, the more repairs you'll be paying for. It is not possible to buy a reliable car that will last you at least a few years for less than $10,000
Just buy in cash is $500 max for EVERYTHING lol... The cheaper the car = the more repair costs is the most smooth brain thing I've heard.
@@jared19882yup I remember when my employer bought two new Chrysler hybrid fleet vehicles and they made it < 300mi before they broke down on the highway and needed to be towed to the dealership.
It is not possible to buy a reliable car that lasts a few years for under $10,000? LMAO... Dumbest thing I've ever heard... My Nissan that I bought for $1800 10 years ago... still runs like new. And that same car can still be bought in similar condition for only $3000 in today's market. And it's a Nissan... Not even the ultra reliable brand like Toyota, etc. Bought a Mazda 3 years ago for about $4000. All it requires all those years were regular maintenance and a 120k kit.
Not the Wii-mote steering wheel!! 😂
2006 accord have transmission issues. Get anything above 2010
You should also filter for no accidents and vehicle history. Please don’t buy a car that hasn’t been well maintained. The brand won’t save you from stupid ppl
Three-Legged Willie is wild name. 😂
“These car will probably go another 200-300k miles” bullshit I ain’t ever seen a Corolla with 400k on the clock or any car for that matter
Uh. In the rust belt rust can kill a car prematurely. My unibody frame is rusting out quite badly so my car may not make it to 200k. I can fix a lot, but replacing the body isn't a practical amount of labor. Consequently, I avoid vehicles older than a decade
Go with the Toyota over a Honda because the Toyota has a timing chain that will not need replaced and will not break destroying your engine like in a Honda. The Lexus is also a Toyota by the way. In honorable mention in my opinion would be the Ford Crown, Vic Mercury, Grand Marquis and Lincoln Town car all the same vehicle. There's a reason that every Police department in the United States was buying the Crown Vic until the very end. They are not great on fuel, but they can easily get mid-20s if you don't drive it like a race. Car and repairs are often very cheap.
I bought a 2005 Corolla back in 2019 for $8,500 with only 70k. For my daughter,Really good car.
Ok bucko.... I'll come at you. 500 mi is just impractical for buying a used car. You make it sound like you can book a flight to pick it up or have it shipped. What happened to the general good advice to have a pre purchase inspections for prudence sake? What if you fly out there and you find out that you hate it? *shakes head*
ok ok your larger point is still valid.
This had been very insightful and hilarious
It's crazy that all these cars and model years are sold in the Middle East for under 2k.
Although Toyota and Honda are arguably the best for reliability, I’d take a 12-15 year old lesser brand for $5,000 with around 125,000 miles over an appropriately 20 year old Toyota or Honda with 200,000 miles.
I’d just be sure the car is also in good shape and isn’t a known unreliable make/model/year.
Another pro tip is to learn how to drive a manual transmission if you don’t already, and target manual transmission vehicles. That will give you more options and cars that are arguably more fun to drive once you get the hang of them. Many cars are unreliable with their automatic transmissions options, but fine with the manual version. Yet so many of the cars are automatics that the manuals have to sell for less even though they will likely last longer.
A broken automatic transmission will total most $5,000 cars. But paying for a new clutch costs about $1,000 and is the worst thing to happen to a manual transmission. And you only need to replace the clutch about every 100,000 miles if driven correctly. So maybe one time given that a $5,000 car is unlikely to last another 100,000 miles.
A 2005 Corolla is one year away from classic tags in PA. A 20 yr old car may not have drivetrain problems- it absolutely will have everything else problems. Source? Me, a dad of four teenagers who bought 4 really old cars and drove them into the dump at the end of high school because of rust. You should probably buy a few of them before you declare yourself the winner of your own game.
I'm not sure why you would search by one specific year for each car rather than a range of years (for instance 2003-2007 Corolla instead of just a 2005). That just unnecessarily limits the number of options that come up. And then you wouldn't have to have such a ridiculously large search radius to get results. I don't think anyone is driving 500 miles one way to buy a beater car.
I bought a 5000 dollar car in2019 it was a nightmare. My car was coput.I needed a car fast. Long story short got a chevy cruise with over heating problems. My snl trying to help me got burned real bad. Ended up selling it and get a new ford Fiesta couple months before covid. Just me an old lady suits me fine
As my first car. I just got a new 2024 hinda civic. Financially responsible? No. I was trying to get it with 0 downpayment. I got denied big time. But i put 10k down and i managed to get the price of the car of 29k to 26,800. S8nce it was the end of the month n they were "hitting quota" so not sure if that was good or if i could of honestly bargained more. I went alone so like i have no knowledge on that stuff. But the car is cute. And i just plan on keeping it forever and evenr and ever. And ever. Or for 6 years when i get a better job n can pay for one in cash
Chevy is like a rock. Have a Saturn Aura that has 306,000 miles. Drive it everywhere
Great video. Thank you.