by Leslie Schwab

Created on: October 31, 2009

In today's economy, many people simply don't have the money, nor the required credit score to attain a loan for a new car. Even a so-called "economy model" as a Toyota Corolla or a Honda Civic can set you back nearly twenty thousand dollars! Buying a car that is more than five years old may be the only option for those families who need a second car, or one for their teenaged kids. Seniors who only drive occassionally, and live on fixed incomes may find an older car sufficient for their travel needs. For those who wish to own a luxury brand as Mercedes-Benz, BMW, or Lexus, but don't have the required financial reserves, an older, well-maintained model may suffice. Regardless of the reason, buying an older car comes with certain caveats.

First, the overall condition of an older automobile needs to be carefully evaluated. It is highly recommended to have the car checked by a reputable technician for the presence of significant mechanical problems. Replacing an automatic transmission, for example, can cost over two thousand dollars, depending on the model. Repairs on luxury models can easily cost two or three times as much as those on a more popular brand. Luxury models also tend to be equipped with high-tech electronic gadgets, such as BMW's I-Drive system. The cost of repairs to these systems can be greater than the value of the car, itself. Because of this concern, it may be best to purchase a used luxury car from a dealer who sells them as "certified", pre-owned cars. These cars are thoroughly checked, and come with a warranty that covers most major repairs.

Second, the amount of mileage on the car is important. On average, most drivers tend to put about twelve thousand miles a year on a car. This would mean a five year old model would expect to have around 60,000 miles on it. Some drivers, however, can easily rack up twenty thousand miles a year, or more. One option is to purchase an older car from a senior citizen, who only drives occasionally. You might be able to pick up a good used model from an older owner with relatively low mileage.

The final consideration is knowing the history of the automobile. Some vehicles may have suffered damage from flooding, or been involved in serious accidents. Even if repairs were made, such vehicles tend to have long-term mechanical problems. For a small fee, there are services as Car-Fax that will provide a service history on any vehicle for a small fee. Cars that have had histories of costly repairs should be avoided.

In conclusion, older cars can provide reliable transportation for those drivers who simply cannot afford a newer model. By taking proper precautions during the buying process, one can purchase a vehicle that can perform ably for several years. It is important, however, to keep up with routine maintenance, such as changing the oil in the engine and transmission at intervals recommended by the manufacturer. A clean, well-kept used car can be hard to distinguish from a new model.

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