Yahoo Finance Need a Reliable Used Car for Under $3,000? Here’s How To Find One, According to Experts
Cars — even used ones — are expensive. It might feel impossible to find a new (at least new to you) vehicle on a very limited budget, but you can still do it.
“Prior to the COVID-19 pandemic, finding a vehicle under $3,000 that was reliable and long-lasting was common,” said Mark Beneke, owner of Westland Auto in Fresno, California. “Nowadays it’s become the exception where more often than not you’re getting burned.”
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Despite that, Beneke said it isn’t impossible. “It will require you to do more legwork and be very thorough with your processes, so you can make sure you weed out all of the bad apples,” he said.
Here’s how to find an affordable used car for under $3,000, according to experts.
Think About Your Needs and Repairs and Be Realistic
“I would first try to figure out what I would be using the vehicle for to determine the type of vehicle I need,” Beneke said. “Things like fuel efficiency, passenger size, cargo size, terrain type, etc.”
From there, Beneke suggested narrowing down the best vehicles in that category. “I would not look at a specific make and model, as there are many that could fulfill my needs,” he said. “This would let you look at the mileage and year range that you could expect to find with these vehicles — likely to be 20-plus years old with high mileage — which in no way means they’re bad vehicles, only that you’ll need to inspect them first.”
Realistically, he said these vehicles might not currently be in an ideal condition.
“Once I have that list, I would be honest with myself and realize that the chances of me getting a vehicle that is completely turn-key are very low,” he said. “I would put aside some of my budget to account for immediate or near-immediate repairs on it.”
Find Out: These 10 Used Cars Will Last Longer Than an Average New Vehicle
Cast a Wide Net
It’s also important to look in a variety of different places when trying to find a used car. “I would then look at all of my available sources, starting with online marketplaces like Craigslist, OfferUp, Facebook, etc.,” Beneke said. “I would ask friends and family if they know anyone who has a vehicle they’re wanting to offload and also look at local tow yards, local car repair facilities and some public auctions to see all of my available options.”
However, Beneke warned against visiting tow yards or public auctions if you’re not experienced with the process or not comfortable handling unseen issues.
“Be prepared to drive outside of your own city, as some surrounding cities may have lower car prices and can get you a discount,” he said. “Just make sure to account for travel and transportation costs.”
Inspect the Vehicle, Paperwork and History
To make sure you’re getting your money’s worth, it’s important to do your research when examining a potential car. “Each vehicle you’re considering should be thoroughly test-driven and inspected,” Beneke said. “You should be able to find plenty of guides online to walk you through conducting basic inspections.”
You’ll probably be excited when you find a specific vehicle you’re considering purchasing, but Beneke warned against skipping the history and paperwork process.
When you feel comfortable with a specific vehicle and are seriously considering buying it, it’s important to perform thorough due diligence.
“Pull a history report and see if there are any major red flags there,” Beneke said. “Then, make sure the title and all the paperwork is registered to the person selling you the vehicle and check to see if there are any backed fees attached to the vehicle that need to be cleared prior to you registering it.”
If it all looks good, having a third-party mechanic inspect the vehicle and provide you with any findings would be a good idea, according to Beneke. “It’s extremely unlikely they won’t find anything,” he said. “This can be good, as it can serve as either a point to walk away or a point of negotiation.”
Negotiate
Once you’ve found a car that you’re comfortable buying, you can try to negotiate on the price.
“Now that you’ve got all of the facts, you can negotiate properly,” Beneke said. “Be polite, thank them for their time and set a number you’d be willing to move forward with, considering the condition and findings.”
The seller might take their asking price down a little, thinking you’ll meet them in middle, but Beneke suggested you don’t budge. “Stick to your number,” he said. “Make it clear that you appreciate them wanting to work with you, but you just don’t understand how they expect for you to do that considering the amount you’d need to put into it.”
And be prepared to walk away if things don’t work out. “Don’t be scared to keep pushing well past the point you feel uncomfortable,” he said. “Most of the time, you’ll get your figure.”
Seek Out These Specific Vehicle Brands
Some vehicle brands are known to last longer than others. Zeroing in on these can help you find a dependable car at or around $3,000.
“Focus on older, high-mileage vehicles from reliable brands like Honda, Toyota and Mazda,” said John Lin, co-founder of JB Motor Works in Philadelphia. “These cars are often well-built and can last a long time with proper maintenance.”
Some specific models he suggested include the Honda Civic and Honda Accord from the early 2000s, the Toyota Camry and Toyota Corolla from the late 1990s to early 2000s, and the Mazda Protege and Mazda 626 from the late 1990s to early 2000s.
Additionally, Beneke suggested looking for the following models that are 20-plus years old: Subaru Impreza, Ford Focus, Chevrolet Tahoe, GMC Yukon, Toyota RAV4, Honda CR-V, Ford Escape and Chevrolet Trailblazer.
“Remember, at this price point, the car will likely have high mileage and may need some repairs,” Lin said. “But if you find a well-maintained vehicle from a reputable brand, it can still provide reliable transportation for years to come.”
Even following these steps, Beneke noted that it may not be realistic to get a car for $3,000 or less, but following this process can serve as a starting point for finding a vehicle you can rely on. When looking for a used car for under $3,000, take as much time as you need to find one that both fits your budget and can be relied on to get you around town safely.
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