is buying a car with a lot of miles bad?

audrey

im 16 and looking to buy a car. i have to get a cheap one (about $10,000 and under) and every car that i look at has a lot of miles
does that really matter? and if so what happens with a car with a lot of miles?
like 90k miles - 150k.

Answer
Not really sure what you're looking for. I was looking a week ago and saw an Audi A4 with 60K miles for 10K listed locally. Great deals like that come along, just watch and jump. I'm sure you'll be able to find something good.
If you're looking for something japanese, look at Nissan and Mitsubishi. They have the same qualities and appeal as Toyota and Honda, but they are less well known so you get a better deal.
Hyundai and Kia make very good, cheap cars.
However, I think the best deals in used cars are from the European luxury makes. You can have an Audi or Mercedes for the same price as a Camry. I think it's a no-brainer.
Cars.com, Autotrader.com, and Craigslist have tons of listing, so use them all

Who is able to afford a luxury car?

wooball2

I was returning from a vacation a few weeks ago and on the way back I decided to go back through Washington DC instead of Baltimore. All over the Capitol Beltway were luxury cars. Mercedes Benz, BMW, Lexus, Infiniti, etc. I know Washington DC is an overall well-off area but my question still remains. Who is able to afford a luxury car? Who are these people? What are their professions? How much money do they make? Just curious.

Answer
Who is able to afford one and who actually has one is not the same thing.

What you're asking is who can afford one. What you're observing on the road is who has one. There are plenty of people with no emergency fund, little saved for retirement and are living paycheck to paycheck that buy stuff they shouldn't. That's a lot of what you see.

Personally, I would never buy a car that exceeds 1/3 of my annual net income.

To me, that means if you're buying a $50K car, you should have a NET of $150K/yr, which means a gross of closer to $200K/yr.

Most people that buy $50K cars don't make that......if you don't care too much about savings, retirement, fiscal responsibility and don't mind a 72 month loan, you can get a $50K car for about $750/mo, which is $9,000/yr. If your priorities are in the wrong place, someone who makes $60K/yr can do that, and plenty of people make $60K/yr.

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Car help! What car should i get?

*l*

Sent this ?'s before but im stuck. I either want a BMW 3si or a tuner(supra most likley). What do you think tuner or lugsery? And is the BMW expensive to fix if it brakes? I have $15600





The raven do not answer this ?'s and write chevy. You do that to all the topics and all you want is the points GTFO

Answer
Luxury*

First of all, Supra's are awful choices, they are great if you want to have a car you'll constantly be working on and spending all your money on parts and repair, they're only fun to own as a weekend car/build car. BMW 3 series isn't the way to go either, unless it's a 323 or 325, it's going to be pretty costly to maintain.

I would recommend a Nissan 350Z, Mustang GT, Lexus IS, Acura TSX or TL if you can find one, Nissan 240SX, Pontiac GTO, all of these cars you can pick up for about 15k with anywhere from 40-60k miles on it.

Car Warranty when bought car? Not informed or told..?

Danielle

I bought a car in January of 2011 for 15,000 it had 42,000 miles. Now my problem is that the dealer never told me anything about a factory warranty and tried to have me buy their warranty which I did not. This past August and September of 2012 I kept getting papers in the mail saying my warranty was expired (they weren't from the dealer) I think the dmv? I thought it was junk mail or something...now its October and come to find out the warranty renewal papers I was getting in the mail were not spam or junk mail. I somehow had a factory warranty.. I've looked front to back in all my paper work and nothing is said about the factory warranty what so ever. My question is now shouldn't the dealer have informed me or let me know that there was a factory warranty on the car when I purchased it. The warranty is now expired so can I renew it? I live in NY State if that matters any.
It's an 2006 Chrysler Pacifica. I called Chrysler today they said it was for the powertrain? warranty. But I do have an extended emissions warranty left till 80,000 miles or 15 months which ever comes first is what the lady told me. I just don't understand how the dealer doesn't have to inform me that the car has a warranty on it when I bought it, but yet kept trying to get me to buy there warranty without ever mentioning the factory warranty that was already with it.

Answer
What kind of car is this?
Many factory warranties end @ 3 years or 36K miles.
Some luxury brands offer a 4-5 years or 50K miles.
And Kia, Hyundai and Mitsubishi offer a 5 year, 60K miles.

It's really your job as a consumer to know whether a warranty applies and, if you don't know, ask the questions that pertain to your personal interests.

The mail you keep getting is from a 3rd party warranty company that partners with the dealer for everyone that buys a car. They pay a little money to the dealer for a sales lead and then flood their potential consumers with junk mail.

You cannot renew a factory warranty. They expire. You can look into buying an extened warranty, but you need to know that it's going to cost you upwards of $2K (or more depending on the car) and it may not cover everything you would expect it to. You have to read it carefully to determine their loopholes.

The fact is that many 3rd party warranties are not worth the paper they are written on. If they were paying out claims all of the time and if it were good for the consumer, then they wouldn't be in business.
You are much better off saving your $2K you would have spend on a warranty and paying for basic maintenance and repairs over the next 2-4 years.

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Who is able to afford a luxury car?

luxury cars 60k image

wooball2

I was returning from a vacation a few weeks ago and on the way back I decided to go back through Washington DC instead of Baltimore. All over the Capitol Beltway were luxury cars. Mercedes Benz, BMW, Lexus, Infiniti, etc. I know Washington DC is an overall well-off area but my question still remains. Who is able to afford a luxury car? Who are these people? What are their professions? How much money do they make? Just curious.

Answer
Who is able to afford one and who actually has one is not the same thing.

What you're asking is who can afford one. What you're observing on the road is who has one. There are plenty of people with no emergency fund, little saved for retirement and are living paycheck to paycheck that buy stuff they shouldn't. That's a lot of what you see.

Personally, I would never buy a car that exceeds 1/3 of my annual net income.

To me, that means if you're buying a $50K car, you should have a NET of $150K/yr, which means a gross of closer to $200K/yr.

Most people that buy $50K cars don't make that......if you don't care too much about savings, retirement, fiscal responsibility and don't mind a 72 month loan, you can get a $50K car for about $750/mo, which is $9,000/yr. If your priorities are in the wrong place, someone who makes $60K/yr can do that, and plenty of people make $60K/yr.

Why would you pay 30k for a Lexus when you can get the same car- a Toyota for way cheaper?

MisterDG

What is the deal? Toyota and Lexus both use the same cheap quality parts, just because Lexus reputation is so high as a luxury car doesn't make it better than other luxury cars. For example an Infiniti M45 or an Audi's a typically around the same price as Lexus's and they use way better parts.

Answer
I look at it the same way. Also, why would I want to buy a car for 30k when I can buy a decent - in shape house - for the same price, put 30k more into it and turn it around and sell it for 100k? Then use that money to buy a car that is 3 yrs old, 60k miles with 2yrs left on the the warranty for about 5k and walk away with money left over. When cars become the prices of small homes or 6 yrs worth of house payments, it's definitely time to rethink the economy in which we live.
Sorry for the ramblings, but I hope you see what I am getting at.

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