Hi folks, I would like to pickup your brain on following situation. I’ve sold my leased Defender, because got offer which was hard to refuse and also gas prices were making it quite unmanageable. I’ve ordered new vehicle which is being built already and should arrive in ~2 month here, but need something temporary. Cheapest cars on Turo or classic rentals are around $1300/month around me in north NJ, so I’m thinking may be it is worth to pick up some cheap car 5-10k probably and then sell it.
Is is working idea? Any particular cars you recommend which hold value and I can basically sell it for ~ same amount I bought it?
Has been discussed at length:
- Another lease / purchase of a new car is not a great option (transaction cost, ADM)
- Rental, Silver Car, Sixt, Zipcar, Turo are possible considerations
- Buying something used / under $10k might be an option
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Thanks, I just now see topic about buying for 10k, I even think I need something cheaper, just really wondering more about specific old brands/models.
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Going from brand new defender to sub 10k beater while waiting for custom build will be quite a “trip”
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Where I grown, I was driving much worse stuff, so it is not big deal to me, I know what I’m waiting for, so this is purely thing to move me and then sell, nothing more 
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May as well enlighten us and let us know what your waiting to be built in the meantime.
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Just be sure you thoroughly inspect it with a mechanic as the last thing you want is a massive repair on a short term car that won’t flow through to resale value.
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BMW iX, going back to BMW I after leasing three i3’s when they were available :). Gas prices make it easy choice
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Make sense. But I really need to settle on some models, to narrow down search.
Is this good for example?
https://newjersey.craigslist.org/cto/d/cliffside-park-subaru-forester-2006/7489597425.html
I did that between my M4 and 718. I sold the M4 and bought a Honda CR-V for $11k(ish) to use during the winter/while waiting for my 718 and I still have it to run some errands and for rainy days. It isn’t as bad as you think if you buy a good car. Some days I enjoy driving the Honda more since I don’t have to worry about cracking a rim or someone rear ending me.
Any Honda, Toyota, Acura, or Lexus is a good buy. Depending on your state, it might make sense to buy private party to reduce your sales tax/fees. For example, Illinois charges a flat sales tax (like $100) for a private party sale versus 6%+ and doc fees at a dealer. And obviously, the cheaper the better.
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Plenty of solid and even fun beaters for <$10k. Depending on the car and the service records, you may want to invest the $100-200 to get a pre-purchase inspection so you can be confident that you won’t likely have any major issues during your ownership. If you buy it right you can probably get in and out for minimal money.
If your state charges tax on private party sales and if the value is based on the stated selling price, then ask the seller to state the selling price as something super cheap. For an older, cheap car I doubt your DMV will even blink an eye.
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Mind sharing details on the defender? Which trim/miles ? And what you got for it ?
Edit: my wife loves hers but all I see is an opportunity
ride the bus/subway/ride a bike
i have 3 cars and i take the bus instead
Easier to say, when bus is available:) Or you don’t need to drive kid to camp or practice
i ride the bus with my 7 year old 2x a week
i do drive the cars on the weekend tho but i bet i can manage with no car if i tried
but id buy a 1k clapped out car and pray it lasts 2 months
also, what car you ordeR?
I’ve mentioned above, BMW iX
This was discussed at length in the “$10k” thread along with real world examples.
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Whatever you do, make sure you get it checked out by a reputable mechanic.
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You can rent a full size car from avis for about $550/month