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Old 05-13-2009, 06:46 PM   #41
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Check Consumer Reports annual April auto issue. They have a list of cars to avoid and a list of recommeded cars broken out by price range.

+1 for a Honda or Toyota. Now if I could only break my car addiction and follow the practical advice.
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Old 05-13-2009, 06:53 PM   #42
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You can put that rapid depreciation to work for you , though if you buy used and drive it into the ground.
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Old 05-13-2009, 08:25 PM   #43
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You can put that rapid depreciation to work for you , though if you buy used and drive it into the ground.
I think that article is trying to say that the "best" cars have the highest value. In other words people are willing to pay more for higher reliability and fewer repairs.

I drove a 1988 Yugo for six months and was able to keep up with the repairs, but it was like playing Russian roulette with two cartridges in a five-shot revolver.
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Old 05-13-2009, 08:39 PM   #44
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I have been driving Subaru's for 25 years in the midwest and Colorado. Safest car for the money. Both children drive them as well. You can get an excellent used one if you shop in Boulder or Denver. Good luck!
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Old 05-13-2009, 08:45 PM   #45
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I think that article is trying to say that the "best" cars have the highest value. In other words people are willing to pay more for higher reliability and fewer repairs.

I drove a 1988 Yugo for six months and was able to keep up with the repairs, but it was like playing Russian roulette with two cartridges in a five-shot revolver.
I agree, but I don't think the difference in resale value is necessarily proportional to the actual difference in reliability. A Yugo would be on the extreme end of the bell curve, but something like a Taurus can provide a lot of transportation per dollar of ownership cost.

Recall a short while ago when gas was over $4 a gallon, people were willing to take huge losses on gas guzzlers to save a few bucks on gas. So, my point is that it is human nature to overreact and there is a sweet spot where one can profit. Sorta like Graham's Mr. Market.
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Old 05-13-2009, 10:18 PM   #46
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Honda Civic, Toyota Corolla, and Ford Taurus in that order.
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Old 05-14-2009, 02:48 AM   #47
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Did any of you read the OP's question?

It was (paraphrased) "buy what for $3K, or other advice?".

I'd add the following:
  • You can get a reliable car for $3K
  • Look above to find one
  • Most of the board thinks you might be good to borrow to buy what you need want.
  • LYBM is dead
Look at the original post and see if you can help.
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Old 05-14-2009, 03:36 AM   #48
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Originally Posted by kumquat View Post
Did any of you read the OP's question?

It was (paraphrased) "buy what for $3K, or other advice?".

I'd add the following:
  • You can get a reliable car for $3K
  • Look above to find one
  • Most of the board thinks you might be good to borrow to buy what you need want.
  • LYBM is dead
Read Milevsky on consumption smoothing. It actually makes no sense for a young person whose career is just getting going to optimize anything other than career. The payoffs can be huge. Furthermore, it makes no sense for a young person to adopt miserly habits, particularly at the cost of placing her neck at risk. A safe car is worth borrowing for.

If you are well imto your career and still can't afford a safe car, it may be different. And I am sorry for you.

But if you are young, borrow to get one. Borrowing (or cars for that matter) will never be cheaper. The minute I got out of school I got rid of my crap-mobile and got a new, high quality car.

Ha
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Old 05-14-2009, 05:45 AM   #49
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Great advice, guys, as usual, thanks! She's monitoring this thread.
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Old 05-14-2009, 11:29 AM   #50
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Take a loan. Get a better car. But then I'm personally willing to pay a premium to avoid the worry of a car needing frequent repairs.

Debt isn't great, but since she's starting with limited assets but has a good income stream awaiting her, it's not so bad in her case.
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Old 05-14-2009, 12:32 PM   #51
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Don't know the credit situation with your daughter, but making a car payment is the best way to establish credit (other than a mortgage). Then is your making a car payment, might as well go a little higher and get a new car. Low priced fuel efficient. I'm telling you all, gas prices are not going to stay this low.
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Old 05-14-2009, 04:19 PM   #52
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Did any of you read the OP's question?

It was (paraphrased) "buy what for $3K, or other advice?".
No, that wasn't the question.
I won't paraphrase, I'll quote directly from the OP:

Quote:
She's trying to decide what car to get. Used for around 3K or take a loan and get a better car.
So, the universe of acceptable answers clearly includes spending more than $3,000.
Almost every post here has been responsive to the OP.
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Old 05-16-2009, 09:43 AM   #53
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The reason why I love the Subaru is because of all-wheel drive. It's fantastic in the winter; that's why almost every other car you see on the road in Colorado is a Subaru. Also, I hardly ever have repairs.
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Old 05-16-2009, 09:52 AM   #54
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The reason why I love the Subaru is because of all-wheel drive. It's fantastic in the winter; that's why almost every other car you see on the road in Colorado is a Subaru. Also, I hardly ever have repairs.
Ditto this. Compred to my last car, an Acura, it is ugly. But excellent anyway.

Ha
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Old 05-16-2009, 10:20 AM   #55
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Can find used Buicks for around 3k. The usually are reasonably prudently driven (mostly older folk buy them) parts are no problem, good safety record. 4k will get her supercharged Park Avenue model for that need for acceleration. They are real sleepers.

She might not like the image it it projects, but for 3k it shows some class.
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Old 05-22-2009, 08:43 PM   #56
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Thanks again for the help. Here's the car she bought (the red one):



Note that I didn't suggest she look at Echos.

2001, 78,000 miles, $4,100. Automatic, cruise control. You can read about it in the blog.

www.CarBikeTrip.BlogSpot.com
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Old 05-24-2009, 09:20 PM   #57
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Who parked the red one?
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