A friend of mine has my old 1995 Ford Contour..it has 230k on it. Original clutch, too. My 1988 Mustang GT has 195k on it. That clutch has been replaced a couple of times..
Small Used Car Market Insane? Agree? Disagree?
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My coworker called on a CL Geo Prizm-guy said it had a 6 speed transmission. Found out he was counting the letters and numbers on the floor shifter for the auto trans. Needless to say he didn't go look at that one!
Not sure. Two years ago I was looking at two/three year old Ford Expeditions for 6-7K.
Now I can't find any 02's for under 13K without some serious mileage on them.
Now I can't find any 02's for under 13K without some serious mileage on them.
3 yrs ago I bought a '95 Ford Aspire for $950. It's a tinny, underpowered (61 hp) ugly little thing, but it runs great and gets me ~42 mpg! Think I'll drive it into the ground or until it kills me... which, a fender bender in a parking lot could be fatal for me in this little... thing.
I sometimes wonder if I should stockpile something like a couple of Ford Expires for the next oil crisis. Probably be pretty cheap to just keep them on the road, maybe use them for an occasional trip to work just to get the juices flowing. When the crisis hits I'll drive the Expires and park the bigger cars. Of course I don't have anyplace to put them....
One can stockpile half a dozen scooters in the same space.
Saturn S series endured a longer model run so parts are plentiful. Stuff like escorts and neons are good too; I think OP was maligning the fact one used to be able to find runners for $500 and this source seem to have dried up.
Living on the broke side of society brings higher than average inflation. I used to be able to get a pound of pasta for $.33 only a couple years back, now it's a buck. More competition for the thrifty stuff.
Saturn S series endured a longer model run so parts are plentiful. Stuff like escorts and neons are good too; I think OP was maligning the fact one used to be able to find runners for $500 and this source seem to have dried up.
Living on the broke side of society brings higher than average inflation. I used to be able to get a pound of pasta for $.33 only a couple years back, now it's a buck. More competition for the thrifty stuff.
Wow a 5 year old sunfire for $9500! Remember when the cobalt came out and folks were getting cavaliers for $8k new then applying GM card credits?
I think the trick is you have to network a bit to get the cheap runners. Let folks know you are looking for such a thing, and often someone will want to get rid of a car that needs a bit of work, or maybe a friend or relative would be happy to let you have it for a decent price instead of getting shafted on a trade in. My family knows my predilections in this sort of thing and I've ended up with several free cars this way. The other thing is to always be on the lookout, even when you've got a decent runner. Peruse the classifieds regularly. Check out interesting cars you see when you're out driving. You don't want to be in the market when you're desperate.
I think the most frustrating aspect of used car shopping is that so few people keep any kind of maintenance records. I'm incredibly OCD in the department and keep receipts/invoices for anything related to the car and log every time a fluid is topped off, wipers replaced, as well as every fill up.
It's mind boggling that so many people keep zero records and then expect to sell their cars for a premium price. I've looked at so many cars where the owner couldn't give me an answer as to when the ATF fluid was last changed or if it still had the original timing belt. I don't look down on people who don't know much about cars but if that's the case, they absolutely should contract that service out to a good mechanic and keep records. My grandmother knows absolutely nothing about cars or car maintenance but she's gone to the same mechanic since about 1970 and has had the most meticulously cared for and well documented cars I've ever seen.
Years ago, I was told that part of the reason the used car market seems so inflated is that 100,000 miles was the magical cut off point for auto loans. Therefor, any car with < 100,000 miles kept an inflated value and then plummeted when it 100,001 miles.
It's mind boggling that so many people keep zero records and then expect to sell their cars for a premium price. I've looked at so many cars where the owner couldn't give me an answer as to when the ATF fluid was last changed or if it still had the original timing belt. I don't look down on people who don't know much about cars but if that's the case, they absolutely should contract that service out to a good mechanic and keep records. My grandmother knows absolutely nothing about cars or car maintenance but she's gone to the same mechanic since about 1970 and has had the most meticulously cared for and well documented cars I've ever seen.
Years ago, I was told that part of the reason the used car market seems so inflated is that 100,000 miles was the magical cut off point for auto loans. Therefor, any car with < 100,000 miles kept an inflated value and then plummeted when it 100,001 miles.
Not really looking for the $500 runner. However, I've owned a few of those in my life as well. I even bought a $100 runner, drove it for 3 years and sold it for $500 
No, the frustration is more along the lines of folks are looking to get $4K out of a $2K car.
And as we've discussed, there are a number of factors. Folks who are more worried about getting financed are not looking at the value of the car, but can they get financed and (maybe) can they afford the payments.
But I'll put the $500 or $1000 or so into the Prizm and drive it at least one more year. By then, my mortgage escrows will return to their normal value, and I can seriously start stashing $500+/month into my new car fund, so I can have that new(ish) BMW at age 50.
No, the frustration is more along the lines of folks are looking to get $4K out of a $2K car.
And as we've discussed, there are a number of factors. Folks who are more worried about getting financed are not looking at the value of the car, but can they get financed and (maybe) can they afford the payments.
But I'll put the $500 or $1000 or so into the Prizm and drive it at least one more year. By then, my mortgage escrows will return to their normal value, and I can seriously start stashing $500+/month into my new car fund, so I can have that new(ish) BMW at age 50.
Whenever I go to sell one of my vehicles, I show them my maintenance spreadsheets with fuel logs, after that I get my asking price every time without question.
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I track my cars with my PDA. I can produce a spreadsheet of my information in about 60 seconds.
Originally Posted By: brianl703
A friend of mine has my old 1995 Ford Contour..it has 230k on it. Original clutch, too. My 1988 Mustang GT has 195k on it. That clutch has been replaced a couple of times..
Put 300K miles on a 88 [5.0] Town Car and 200K miles on a 99 [4.6] Grand Marquis...The Grand Marquis had nothing done but regular Ford service...Still had the original plugs.
A friend of mine has my old 1995 Ford Contour..it has 230k on it. Original clutch, too. My 1988 Mustang GT has 195k on it. That clutch has been replaced a couple of times..
Put 300K miles on a 88 [5.0] Town Car and 200K miles on a 99 [4.6] Grand Marquis...The Grand Marquis had nothing done but regular Ford service...Still had the original plugs.
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My son verified that the former cheaper clean econo-cars are pulling big numbers at the auction. Stuff like the 2nd gen NEON's, if clean, are about double what they were. $2000-$3000 at auction. They wouldn't pull a grand just due to their numbers a bit ago.
People are preparing for losing the war at the pump.
People are preparing for losing the war at the pump.
Glad I made my buy on a 01 Escort last summer for $1800 and sold my Older car for $1000 that I only had $500 in.
i just upgraded from a 1997 ranger to a 2004 with the 2.3 duratec.
Originally Posted By: Gary Allan
My son verified that the former cheaper clean econo-cars are pulling big numbers at the auction. Stuff like the 2nd gen NEON's, if clean, are about double what they were. $2000-$3000 at auction. They wouldn't pull a grand just due to their numbers a bit ago.
People are preparing for losing the war at the pump.
probably has something to do with the "change" movement. I heard on the news that gun sales went through the roof last year as well for fear of regulation.
My son verified that the former cheaper clean econo-cars are pulling big numbers at the auction. Stuff like the 2nd gen NEON's, if clean, are about double what they were. $2000-$3000 at auction. They wouldn't pull a grand just due to their numbers a bit ago.
People are preparing for losing the war at the pump.
Yes, the econobox used car market is insane. In this area (Wash. DC) domestics aren't liked too much but Honda Civics and Corolas are, and for that matter anything 4-cyl Toyota/Honda.
the prices are insane, 5-6K for old 1990's cars. I don't think you can find anything under 4K unless it's early 90's.
I ran the numbers, the math doesn't add up. Econoboxes aren't that cheap and don't save you any tokens. Ended up getting a Chevy caprice V8 wagon for only 2.5K, with relatively low miles (and much work done to it). It gets 23MPG on the highway and even then is cheaper to operate than Honda Civic.
But you get way more features, space and practicality (Cargo space). Plus safer.
According to my numbers, you only begin to save with an econobox if you drive a lot. Like 40K miles per year. Not the average 15K that I drive.
the prices are insane, 5-6K for old 1990's cars. I don't think you can find anything under 4K unless it's early 90's.
I ran the numbers, the math doesn't add up. Econoboxes aren't that cheap and don't save you any tokens. Ended up getting a Chevy caprice V8 wagon for only 2.5K, with relatively low miles (and much work done to it). It gets 23MPG on the highway and even then is cheaper to operate than Honda Civic.
But you get way more features, space and practicality (Cargo space). Plus safer.
According to my numbers, you only begin to save with an econobox if you drive a lot. Like 40K miles per year. Not the average 15K that I drive.
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