I spent the last two years working as a paralegal in a law firm that did a lot of personal injury/auto insurance cases. And I too have bought several used cars. So this advice has some experience behind it ...
1. The ideal situation is to buy a car from someone you know. Cheaper than a dealer and you can trust the source much better than some random classified ad. I got lucky once by just basically telling (literally!) everyone I knew that I wanted to buy a reliable used car. Think about everyone you know - chances are one of them has a neighbor, parent, friend, someone selling a car.
2. Consider buying a car that maybe isn't the "coolest." Yes, Hondas are popular and get good gas mileage, etc. but they are also much more expensive than many other cars. Popular sporty cars get stolen more, cost more to repair, and the insurance can get ridiculous. The nicest car I've owned was an Oldsmobile Delta 88 sedan. It may have been a "grandma" car but it was a luxury car too. That car drove soooo smoothly, had more gadgets than I knew what to do with, and the A/C was fantastic (a necessity in FL). My friends all loved my car and it was great for going out,roadtrips, etc. because it had so much room. A Honda with the mileage and options my Olds had would have been thousands more.
3. On that note, check with your ins. co. to see how much your premiums will be! No use getting a car you can't afford to insure.
4. A final note regarding insurance - this is my experience from working at the law firm - all of you reading this, RIGHT NOW GO LOOK AT YOUR INSURANCE POLICY. Make sure you have something called "UM" coverage - it stands for Uninsured/Underinsured motorist. I have seen too much tragedy caused by not having this coverage. Many students decline this coverage, wanting to cut costs on high premiums, but DON'T DO IT! I know in Florida 1 out of 5 drivers on the roads has NO INSURANCE, and many others have only minimal coverage. Other states have similar problems. This means that if they get in a wreck with you, there will be no $ to pay your bills. Trust me, even seemingly minor accidents can create medical bills in the thousands, plus your damage to your car. It doesn't matter how good of a driver you are or whether the accident was your fault. If they have no insurance, trust me, they have no real assets you can sue for.
OK, off the bandwagon!
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