Jump to content

Buy here pay here car lots?


NightRider

Recommended Posts

I traded a '95 Taurus in 2000 and got $3k for it. It was a piece of crap that had already puked one engine, was on the verge of puking the trans and was on its third speedo. (common problem with the 85mph speedo - results in a 'non-actual odometer' brand on the title, destroying resale value)

I just did a title search on it. It has been owned/sold by the same BHPH lot 3 times since then. The current owner bought it from the BHPH despite it now having a "salvage" title on top of the non-actual mileage brand.

The current owner paid $4500 for it.

Let's recap. It was a piece of crap when I owned it, I traded it when it was 5 years old for $3k and was glad to get that for it. And 10 years later some poor schlep got connec into paying the BHPH lot $4500 for it.

Bluebook on that car is $2800 dealer retail in excellent condition with a clean title. With the salvage and mileage brands its true value is about $1k. Not $4500.

Edited by Scruit
Link to comment
Share on other sites

Very true. It's definitely not bad looking at all. Just...with being a 92, and the miles...i get nervous there's gonna be a unforeseen break down. If the new job works out, i'll be driving 30 mins or so everyday.

Its a Yota, not a Ferd. You'll be fine. Get a little time on the job under your belt, then go get a newer Yota for your long (lol) commute.

Link to comment
Share on other sites

You cannot discuss the reliability of a Toyota until you see the Top Gear special on destroying a Toyota Hilux...

http://www.youtube.com/watch?v=xnWKz7Cthkk&feature=related

http://www.youtube.com/watch?v=0Uc4Ksz3nHM

http://www.youtube.com/watch?v=YfZDtC9kjVk

Edited by Scruit
Link to comment
Share on other sites

i would never buy a car at auction... UNLESS it was 3 or few years old and a higher end vehicle.

Most (not all) auctions are repos and after being in the business, i see what goes to auction. and that's where most BHPH get there cars. 70% of cars get repo'd because they're POS's that they don't want to pay for anymore. 30% are the ones that lost their job or just can't afford it anymore.

Shit even dealers auctions are hard to come by deals anymore. i was at one this past fall looking (Akron Auto Auction) for a beater... didn't find shit for $2000 or below.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...