Buying a Secondhand Local Brand Car: A Worthwhile Investment?

When considering purchasing a secondhand local brand car, especially one with a history of 6 years and 100,000 miles for a modest price of $7,400, several important factors should be considered. This article aims to provide a comprehensive guide, highlighting the potential benefits and drawbacks of such a purchase.

Back in 2011, I bought my last car with 138,000 miles for $6,900. By 2018, that car had accumulated 299,300 miles on its odometer. Throughout those years, I had performed various maintenance tasks, including tire changes, ball joint repairs, tie rod replacements, brake pad and rotor changes, timing belt replacement, alternator rebuild, starter repair, and multiple sets of spark plugs and oil changes. Despite these wear and tear, the car not only served its purpose but enhanced my driving experience with its solid, fun, and reliable performance. It has 300 horsepower and a 5-speed automatic transmission, making it an enjoyable ride.

The Secondhand Offer

Awaiting an offer to purchase a secondhand car, I received a suggestion from a friend who worked professionally with these vehicles. This car, a 1998 Lexus GS400, stands out as a unique and well-regarded model. According to folklore, this specific car and its drive train are the mechanics' favorite – possibly the best drive train that Lexus has ever produced. This vehicle boasts a relatively low odometer reading of 100,000 miles, which also fits the criteria of being nearly new at a fraction of the original sticker price: $30,000.

Kelley Blue Book and other reputable sources such as Research New Used Car Prices and Instant Cash Offer Trade-In Values can be used to determine the current market value of your potential purchase. By comparing the new price of the car to its current value, you can assess the degree of depreciation and whether the current asking price may be fair and reasonable.

Looking for a Good Deal

Buying a secondhand car, especially for a budget of $7,400, can be a worthy investment if the vehicle has been well maintained. To ensure you are getting a good deal, consider the following steps:

Mechanical Inspection: Have a qualified and trusted mechanic inspect the car. A professional can identify any hidden issues or needed repairs, which can significantly impact the vehicle's overall value. Market Research: Research how well the specific make and model of the car ages over time. Some vehicles tend to retain their value better than others, and it is crucial to understand the expected longevity and reliability of the vehicle you are considering. Evaluate Maintenance History: A well-maintained car is more likely to have a longer lifespan with fewer major repairs. Check the maintenance records to ensure the car has been properly serviced and repaired when needed. Market Value: Use online resources to find the current market value of the car. The Kelley Blue Book is a popular choice for this purpose.

In conclusion, while it's understandable to be hesitant about spending a significant amount of money on a used car, the potential benefits of a well-maintained, low-mileage vehicle can outweigh the initial cost. With the right research and professional guidance, buying a secondhand local brand car could be a smart financial decision. Remember, the key lies in ensuring the car has been well taken care of and its longevity is likely to match your needs.