Is it wise to buy a used car for under 1000 dollars?

Answer 1

== == * Take the $1000 and use it as a down payment on the cheapest new Honda or Toyota . A good use car for under a grand is like finding an innocent man in jail, I'm sure there out there but you'll find more bad than good (and I own a used car dealership). == == * You have to inspect the car AND the owner. If it's an elderly person or a middle aged person, they could be selling their late partner or parent's car and just want to avoid a big to-do about selling it. If it's a younger person and a "sporty" car, then it has probably been beaten to death and you do not want it. * You should also check out repair costs for things that usually go on older cars- brakes, belts, etc- this way you know if you can afford the repairs which are always going come on a used car. == == * Honda or Toyota are probably the way to go. You don't need to buy a new one though. Get a really cheap one and it probably will be mechanically sound for a few years. If you are good with cars (able to do your own repairs), you can find some great deals on cars with somewhat minor problems. == == You will absolutely never find a car for under $1000 with a reasonable guarantee that it won't cause headaches. If you can only afford $1000, you will not be able to afford the headaches that may come with it. If you are low on cash, it makes no sense to put the money into either a new car or a Honda/Toyota. There are plenty of reliable American cars that cost far less money. The Ford Taurus is one, just as an example. You could probably find a 2000-2001 Taurus with slightly higher miles in the $5-6k range. $1000 would make a solid down payment for that car. Or you could go back and hit a 98-99 Ford Escort for $2-3k. Do some online research. Incidentally, newer cars tend to have fewer problems, so go for as new as you can, being reasonable about the car's mileage and condition, etc. Don't forget about how much it costs to insure, maintain, and fuel a car, though.