Never since the beginning of my career, I will have received in a few weeks so many messages from Internet users in search of a cheap bazou. In short, a winter minoune, which one could drive as long as possible, in order to limit expenses. It must be said that Quebec households are being financially abused these days, especially with the increase in interest rates, the price of gas and the grocery basket…
In many of these messages, I am asked if I know where to find good deals. In others, they want to know my opinion on a model that is 15 or 20 years old, when at that age the condition of the vehicle matters a lot more than its handling, comfort or performance. I was even offered money in exchange for a service to find a good car for less than $3,000, claiming that they would rather pay me a commission than pay too much for a jew’s harp.
Needless to say, I would never personally dare to put a seal of approval on a $2,000 vehicle, especially knowing that some buyers expect with this kind of purchase the performance of a new product, or almost !
Like all those who are looking for a low-cost car, I can see that they are becoming increasingly rare on the market. I attribute this primarily to a lack of inventory: dealerships often keep cars for resale that once never would have qualified for. Cars sold without warranty, but from which you can make good profits.
For example, this Pontiac G5 in poor condition, probably paid $500 in exchange, and which a Hyundai dealer dared to display at $2,495 on the Auto Hebdo platform. Ordinarily, it would have passed directly into the hands of a retailer specializing in this type of product. However, at the risk of affecting the image of the concession, we are now ready to sell anything, as long as the profit is there…
I also explain the sudden scarcity of cars at very low prices by the fact that recycling centers pay a lot to obtain them. A complete car, but literally good for scrap, can now be worth between $600 and $1,500, depending on the model. Consider that the catalytic converter alone is worth several hundred dollars, but also that the value of recycled materials has increased. Thus, after having taken advantage of the parts extirpated from these cars, the recycling centers collect large sums during their recovery.
A car at $500, $1,000 or even $2,000 is therefore more difficult to find today. And when you manage to get your hands on one of them, it is still necessary that the mechanical condition is drinkable. Because the cost of repairs has also exploded in recent years. I remember this lady who had written to me mentioning that she had found – for $1,800 – a barely rusty but very clean 2008 Nissan Sentra, which drove like a charm. Proud of her purchase, she was unfortunately quickly disillusioned when, a week later, her automatic transmission failed. And since the repair of the latter demanded more than $2,500, needless to say that his experience would quickly turn into a nightmare.
That said, there are good cars at low prices. Often, models that are less coveted because they are outdated or more fuel-efficient than average, but which may be right for you and for which the maintenance costs are reasonable. So, if you’re looking for a car at the lowest possible price, you may not want to look at the most popular models. And above all, favor the condition over the equipment or the look. It is certainly more viable to shell out $2,500 for a 2009 Ford Focus in good condition and well maintained than for a 300,000 km, worn-out 2009 Honda Civic.
So, to those who own old cars, know that these are also worth more than in the past. You will be amazed at how easy it is to sell such a car on a specialized site, at a much higher price than what the dealership offers you. As for bargain hunters, don’t forget in closing that a well-equipped car for the winter already saves you a considerable percentage on the amount you wish to allocate to your purchase.