Quick Answer: How Much To Spend On Reliable Used Car A Few Years Old

Does number of previous owners affect car value?

The number of owners and its influence on the value of a car completely depends on the body type and its age.

For example, it’s considered acceptable if an older convertible car has had over five owners because it has most-likely been bought for summer enjoyment and then moved on come winter..

Is it better to lease or buy?

Paying less over the long term. Monthly lease payments are generally less expensive than monthly car loan payments. … Buying a vehicle and driving it for several years after you pay it off can be the cheapest way to own a car. The longer you drive it, the less it costs.

Should I buy a car with 150k miles?

It isn’t bad to buy a car with more than 150K miles, but it can be expensive. It can also be a great bargain. … If the car is in good shape and not likely to have big repairs soon, it could be worth buying, for the right price.

What used cars NOT to buy?

30 Used Cars Consumer Reports Gave the ‘Never Buy’ LabelChrysler Town & Country. Chrysler’s new minivan will hopefully rate better than Town & Country. … BMW X5. 2012 BMW X5 | BMW. … Ford Fiesta. Compact cars by Ford had a bad run between 2011 and 2014 | Ford. … Ram 1500. 2015 Ram 1500 | Ram. … Volkswagen Jetta. VW Jetta | Volkswagen. … Cadillac Escalade. … Audi Q7. … Fiat 500.More items…•

Is a high mileage car worth buying?

There is only so low a car goes in value. In general, buying a higher mileage newer is better than buying an older car with less miles. … After a while a car is considered high mileage and the depreciation curve flattens out, so technically you can get 30,000 miles from a car for free.

Is 200000 miles on a car bad?

What is considered high-mileage? Typically, putting 12,000 to 15,000 miles on your car per year is viewed as “average.” A car that is driven more than that is considered high-mileage. With proper maintenance, cars can have a life expectancy of about 200,000 miles.

What is the best age to buy a used car?

The optimal age at which to purchase a used car will decline if you maintain the car for longer. For a Honda Accord the optimal age is between five and ten years.

What is the sweet spot for buying a used car?

What Is the Used-Car Sweet Spot? It’s the period after the vehicle’s first — and most significant — depreciation and the second steep depreciation, which comes around the fourth year. This pattern is fairly consistent across all vehicles.

How much a month should you spend on a car?

Another rule of thumb says that drivers should spend no more than 15% of their monthly take-home pay on car expenses. So under that guideline, if your net pay is $3,500 a month, it’s best to avoid spending more than $525 on car costs.

Does the number of previous car owners matter?

If the car has only had one owner prior to you, it is likely to have received a consistent driving experience and care. … Obviously, the less owners the better, but as long as each owner has treated the car well and it is in a good condition, then the number of owners shouldn’t really matter.

How much is too much for a car payment?

Many financial experts recommend keeping total car costs below 15% to 20% of your take-home pay. So while your car payment is 10% of your take-home pay, you should plan on spending another 5% on car expenses.

How much mileage is too much for a used car?

One rule of thumb to keep in mind, especially when looking at reports like Carfax or AutoCheck, is that 15,000 miles per year is considered to be the industry average. Therefore, if you’re looking at a vehicle that is ten years old, it’s not unreasonable for it to have 100,000 to 150,000 miles on it.

Is 3 owners too many for a used car?

Virtually everyone does — but not everyone is lucky enough to find one, especially if the car you’re considering is more than a few years old. … In that case, you’ll have to compromise on a car that’s had two owners, or maybe even three or more.

What’s more important when buying a car miles or age?

While mileage matters a lot, a car’s age can be just as big of a deal — and in some cases, it’s even more important than mileage. For instance: a 10- or 15-year old car with only 30,000 or 40,000 miles may be appealing.

What time of year is best to buy a car?

Christmas Eve, New Year’s Eve, New Year’s Day Many car-buying experts say the best day of the year for car buying is the very last day. Monthly, quarterly, and annual sales targets all converge on Dec. 31, so great deals abound.

Is it good to buy a 10 year old car?

The graphic, shown below, indicates that the cheapest thing to do is to buy a 10-year-old used vehicle, keep it for five years, and then repeat. … The graphic indicates that if you buy new and keep that ride for 20 years, that will cost you less than buying a three-year-old used vehicle that you drive for 15 years.

What is a good amount to spend on a used car?

The golden rule – 50% of net annual income This is a good guide and can be used for most situations. You are also allowed to spend less than this 😉 You can actually get good quality second hand cars for under $10k . . . even some around $7-8k.

Why is a one owner car better?

You can also expect to see less wear and tear, less mileage, and less years on them! 80% of shoppers prefer to purchase one-owners over other used cars too! … According to Carfax most one-owner purchases are less likely to need expensive repairs and are more reliable.

How much car can you afford based on income?

Rules of Thumb The general rule of thumb is that you should not spend more than 20% of your monthly take-home pay on cars, according to Edmunds.com (via Bankrate). So if your after-tax monthly income is $4,000, your total cost of car ownership for ALL of the cars you own should not exceed $800 under this rule.

Is it wise to buy a car with 100k miles?

No, in most cases, buying a car with 100K miles is not a bad idea. In fact, there are a number of benefits to buying a high-mileage car. For example, cars with 100K miles cost less to purchase, register, and insure, all while depreciating slower than low-mileage cars.

What is the best used car for under $2000?

Ranking The Best Used Cars Under 2000 USD!2005 Nissan Maxima SL.2001 Honda Civic Coupe.2002 Audi A4.2000 Honda Odyssey LX.2005 Honda CR-V.2007 Hyundai Sonata.