How old is too old for a used car? According to car experts, this is the ideal age (2024)

Scotty Reiss, founder of A Girls Guide to Cars, is looking for a copyused car. “I need to buy something for my daughter, who is a sophom*ore in college,” she says. "She lives off campus and needs a car."

There's plenty to choose from, she says, but her budget doesn't stretch as far as she expected. “We're looking for something under $20,000,” she says. “What we want to get for our budget probably sets us back a model year older than we want.”

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According to data from automotive site Edmunds, the average price of a used car has skyrocketed since the pandemic began. In May 2020, the average price consumers paid for a used car was $20,923. A year later it was $25,091, a jump of about 20%. “‘High’ is not the right word to describe the month-over-month change we are seeing,” said Ivan Drury, senior manager of insights at Edmunds. "Maybe 'unheard of'."

Production disruptions due to the pandemic have led to acar shortage. Consumers who were looking for a new car are now looking for the next best thing, he says, and demand is driving up prices: “Unfortunately, everyone is looking for used cars because there is no other alternative to new cars than used cars. "

If, like Reiss, you've had trouble finding the vehicle you want for the budget you have, you might want to consider buying a used car that's a few years older. Here you can read how old you should be according to car experts.

“I think the sweet spot [for used cars] is three to four years old, with 30,000 to 40,000 miles on the odometer,” Reiss says.

The average price of a three-year-old car is $28,289, according to Edmunds. The average price of a 5-year-old car is $23,110, which saves you just over $5,000.

Buying a car that is only a few years old, compared to a copy that is ten years old, has advantages, says Reiss. “There was no wear and tear on the engine or interior,” she says. "It probably has newer technology, too. Things like Apple CarPlay and a rearview camera. It might have parking sensors. You might not find some of the premium features on a 10-year-old car."

Really old cars may also not have the safety features you need, says Emilie Voss, spokesperson for CARFAX. “Airbags or anti-lock brakes, some of those things didn't become standard until the late 1990s or early 2000s,” she says.

This doesn't mean that a car older than the sweet spot of 3 to 4 years is always a bad buy. Like aolder carhas been well cared for, it may be a good buy for you.

"If you're looking for something that's a stopgap between now and a year from now, and you're planning on buying a new car, then maybe buying a $3,000 or $4,000 car isn't a bad thing." with 160,000 kilometers on the odometer." says Reiss.

Just make sure it doesn't require thousands and thousands of dollars in necessary repairs. You need to look at what parts have and have not been replaced and how recently, and how much it will cost you to make the repairs you would expect. Car manuals state what needs to be replaced and for what number of kilometers driven.

“If you're spending more than about $4,000 a year on maintenance, you probably need to look a little deeper and find something that doesn't require $4,000 a year in maintenance,” says Reiss.

No matter how old your car is or how many miles are on the odometer, you'll want to do your research before you buy it. There are three things everyone should do soonerbuying a used car, Fox says:

• Check the vehicle's history.This shows you how many people have previously owned the car, how many accidents have occurred and whether there are any outstanding recalls. When a car has an open recall, it means there is a problem that has not yet been resolved. If you buy a car with an open recall, you will have to fix the problem yourself.

• Take it in for an independent inspection.Choose a technician you trust. An inspection costs between $50 and $100, but can tell you whether recent repairs were done correctly, along with any new work that needs to be done.

• Try to implement it.This allows you to detect any malfunctions in the operation of the car, for example, whether the windshield wipers and air conditioning are working, or whether strange noises are heard when accelerating or braking. You can also see how comfortable you feel driving the car.

“A lot of people do one or two of those things, but you want to do all three,” says Voss. "It is the best choice to avoid surprises along the way."

The article"How old is too old for a used car? This is the 'Sweet Spot' according to car experts"originally published onGrow+Acorns.

^{Video by Jason Armesto}

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