On buying an older used car

[el_fefes]

I'm a student and I'm wasting too much time on the bus... I think it's time to buy a car. I think I can afford around 5 grand if i get a loan from the bank, but I don't really want to bem further in debt having student loans and all. My question is, if I buy an older car, say 88-90 would I be spending a lot on maintnance? Would it be better to buy a newer car which could have less "issues"?

[FiveFreshFish]

Before you go any further, make sure you can afford insurance.

[SaabKraft]

88-90's are usually a good bet as long as they've not been bagged. might need a new clutch, brake pads or timing chain/belt, but as long as it's been taken care of, you'll be in luck.

$5 grand should get you a great car, IMO.

i had an 89, which was great, then i sold it for an 85 with a shitload of problems (electrical), but i'm rebuilding it so no biggie.

newer is better, but i kind of like pre- 90's cars in general. less systems to go wrong (newr cars usually have ABS, power everything, airbags, etc etc etc)

older cars seem to be simpler, and easier to work on yourself.

[Xtrema]

Didn't you ask this question earlier?

Never mind, different guy, but all the same advice are here:

http://forums.beyond.ca/showthread.php?s=&threadid=60847

BTW, my advice, if insurance, parking, gas and interest on loan of car is more than rent, move closer to school. What's tying you down to your current home?

How long of a bus ride? Under 1 hr each way is quite acceptable.

So...., you don't drive a 99 Altima as you say in your Av?

[statick]

going with an older car would be good, but get an inspection and run the vin. i would buy honda/toyota/nissan

[el_fefes]

^ well that's my parent's I drive it whenever they're not using it which is almost never...guess I should change that to calgary transit. The bus ride is close to an hour, but I have to walk quite a bit sometimes. Basically, what is a 15min drive, turns almost to an hour because of the route the bus takes, and I usually have to take 2 buses, so also add waiting time.

About the insurance, with the reform, supposedly the max for a new driver is $1800/yr. And I would be able to afford that. I don't know if saving some money by buying an older car, I would end up spending more in the long run in maintnance.

As for the older cars, I've always liked the 88' Accord hatch. Are they decent quality?

[Xtrema]

So 1.5hr you save/day * 22 days * 8 months = 264hr, let round up to 300hr you save/school year

Operating for 8 months
Insurnce $1200 + gas $800 + maintenance $300 + Parking $400 = $2700

$2700/300hr = $9/hr.

So my question is, is your time worth $9/hr of post tax dollar? Or this is the equivalent of actually getting paid $10-12/hr for NOT owning/operating a car.

Until you break out the cost, you'll never know how valuable your FREE bus pass is.

Now if you need a car for a job or to get to job site between classes, then a car will become necessity. Otherwise, it's just a luxury item for a student.

EDIT: And remember, the estimate of $300 for 8 months is low, consider tire wear, oil change, break fix and depreciation, it's probably more than that.

[statick]

:werd:

[el_fefes]

That's a pretty good break down Xtrema. Thanks. But because I live in the NW, study in the SW, and work in the NE, I think a car will help me have more time available.

I think the question is is it worth saving some bucks by buying an old car or is it better to spend a bit more?

[dieselpower91]

My advice to you would be to find an older car for around $3-4K
Im guessing your looking for late 80's early 90's. and save the rest for maintenance when it is needed and insurance.

For 3-4K you should be able to find something nice and reliable. The most I have ever paid is $4K which bought me my 92' Devillle which I later traded for my 91' GMC Diesel. Nice cars can be had for low prices. (Not suggesting a caddy for a first car though, just using that as an example.)

But don't jump into anything. Make sure you take the car into a mechanic and have it inspected by one you trust. Not Canadian Tire, I repeat NOT CANADIAN TIRE!
If you don't know any mechanics yet, then I'm sure some of us could help you out with good ones.

Hopefully this will help you. I don't think automatically having a newer car will mean it will need less maintenance. You just have to do your research, shop around and see what you like.

[Xtrema]

Originally posted by el_fefes
That's a pretty good break down Xtrema. Thanks. But because I live in the NW, study in the SW, and work in the NE, I think a car will help me have more time available.

Ok, now a car make sense. Since hours you save is up, parking fee is down and I don't think they offer free bus pass @ MRC.

Try to see if there're any family friends who want to get rid of their cars. They are probably the best to go to first. Next is the paper than auto trader. Keep it around $3-$5K is probably your best bet. And watch out for major service points like 100K and 200K km.

If you just need basic transportation, try to find a Rio or Accent. You should be able to find one around $5K and would still get a year or 2 original warranty left on them. You spend 2K more but you don't have to worry about it breaking on you, or at least won't be your problem.

Like this one:
http://www.canadatrader.com/trader/result/affich.asp?rubno=4000&r=%27CAL%27&ste=&sid=&issr=1&yfr=0&yto=0&kfr=0&kto=0&pfr=0&pto=0&dm=1&dp=4&mk=HYUNDAI&md=&kw=&or=0&oby=7&pg=2&vid=1390556

$5K before bargaining and it's 02 so warranty should last til at least 2006. And at 126K, most major engine maintence should be just done.

[Fivewayradio]

You could also look into a late 80's volvo. Motors and transmissions last forever on those. And the people who drive them tend to be these odd volvo cult fanatics who generally look after them fairly well because they like volvos so damn much. Unfortunately they're not cheap to fix if they do break.

Either way when you find a car you dig, go check it out on www.carsurvey.org and see what other owners of that car have to say about it. You can get a pretty good impression of a car from reading what ten other people have gone through.

[el_fefes]

Awesome, thx for the response guys. I think buying a Kia might be a good idea. Not a big fan of Kia's but hey, I only need it to commute. I've also seen a couple for around 5 grand.