BOISE, Idaho — The average used car price today is nearly $32,000 for a vehicle five years old or newer, according to Edmunds.com.
Senior reporter Roland Beres has an aversion to car payments, so we sent him on a mission to find a reliable car for under $5,000. It turns out, he already had.
He bought a 2007 Honda CR-V with 330,000 miles.
“The CR-V cost me $3,400,” Roland says. “I’ve had it a year and a half, and it’s still going strong with only minor repairs. You can do the same if you follow some simple advice.”
First rule about used cars: There are no guarantees. Do your homework — but buy the right car, and you could save a bundle.
Second rule: A cheap car usually means high mileage, and few can handle that well.
Used car expert Chris Cassidy of Rod’s Auto Repair says the most reliable high-mileage options are typically Toyotas and Hondas. “By and large, probably Toyotas and Hondas. We see those lasting the longest,” he says.
That also includes their luxury counterparts, Lexus and Acura, which share many of the same components and are relatively inexpensive to repair.
If you’re browsing Craigslist, Cassidy recommends filtering for private sales. “Definitely the individual seller,” he says. “Used car dealers are more expensive.”
As for why Hondas and Toyotas are safer bets, Cassidy points to cars like the Mini Cooper. “A lot of times the maintenance on those is really expensive — basically mini BMWs,” he says.
Listings that mention recent repairs are also a good sign, especially with documentation. That’s particularly true for Subarus, which are generally reliable except for head gasket and timing belt issues.
“If they’ve done the timing belt and water pump, that shows they do maintenance on a regular schedule,” Cassidy says. “If someone waits for them to fail, it can take out the engine entirely. So if they say, ‘Every 60,000 miles I change the timing belt and water pump,’ you know it’s a better-maintained car.”
Dale Dixon with the Better Business Bureau offers this advice for any used car purchase: “Have a pre-purchase inspection done by a qualified mechanic before you buy. Even then, things can go wrong — and it’s not the seller’s responsibility if it’s a used car.”
There is no lemon law in Idaho for used cars, so that inspection is crucial.
An inspection typically costs between $100 and $300. Cassidy says to make sure the mechanic checks warning codes, which can be temporarily cleared but often return with expensive repair needs.
And remember, almost all high-mileage cars will need some work in the first year. “Buy with a $5,000 budget in mind,” Cassidy says. “Spend $3,000, and if it needs $2,000 in repairs, it’s still a $5,000 car.”
Roland admits he’s a Craigslist addict — he’s bought several cars there and learned a lot along the way.
Watch below to see some of his tips for finding a decent used car that won’t break the bank —
