A car for around 3000? Will it last for a year without any problems? What to look for? Brand model?
I'm an intern in US and I'm going to stay here for a year. I found out that it is very difficult to get around without a car. I would like to buy a car for the year. My main goal is frugal, and reliable. I don't care if it has manual transmission and is without AC. I just care that it will work, and even if it would break down, the spare parts would be cheap. So I was thinking about Toyota Camry or Honda Civic. Any suggestions?
Any $3000 car is going to require repairs and routine maintenance, expect it. There's no such thing as a car that requires no maintenance. Especially a cheap car. You are going to spend money on repairs and maintenance. It's a fact you can't escape.
You must assume the car will need some form of repairs or maintenance while you are using it. Include that in the cost of ownership. You'll get most of the money back when you sell the car in a year.
Let's just assume you bought a $3000 Honda Accord. It cost you an additional $1200 to insure the car and maintain it for 12 months. You've got $4200 into the car at this point. You sell the car one year later for $2700 assuming the car is in the same condition it was in on the day you bought it with only a few more miles. That means your total auto expense for the year (excluding fuel) is only $1500 a year or $125 a month. That is dirt cheap transportation in anyone's book.
Those numbers are just an example but it illustrates how to consider all costs associated with the automobile before you can calculate your total cost over the 12 months.
Its possible but its not guaranteed.
Mccoys answer is a good one too.
I wouldn't rule out an American car or a less reliable import because you can get more car for your money.
They all have risk. You could likely buy two cheaper cars for the price of one Honda or Toyota.
I got my Civic many years ago for $3000 and it hasn't broken down since. The only thing that got replaced so far was one tie rod and all 4 tires. Its still strong mechanically.
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