Topic: Student Looking for a Car <$10k

[1TSX]

So my friend who is a med school student is looking for a car. His criteria are quite simple (not a car enthusiast):

-It has to be worth <$10k BOOK value (affects the amount he gets in student loans)
-Compact to midsize
-Reliable for the next 4 years
-Relatively comfortable (he occasionally drives 2.5 hrs back home, and noted he hated driving his parents 98' Corolla on the highway...)

Some of my suggestions:

http://www.autotrader.ca/a/Nissan/Altima/LONDON/Ontario/5_10945011_ON20071113110825303/

http://stratfordhonda.autotrader.ca/used/Honda/2005-Honda-Civic-4c615e730a0a00640086b3762fe9de76.htm

http://www.autotrader.ca/a/Nissan/Sentra/LONDON/Ontario/5_11392644_ON20080609102743317/

Anything else?

[tortoise]

Of those three I'd for sure go with the Altima.  I rented one and was really impressed.   It's a fantastic highway car, particularly with the CVT.  Good on gas too.

What about the Ford Fusion?  Supposed to drive well and be quite reliable.  And they depreciate like mad.

http://www.autotrader.ca/a/Ford/Fusion/BURLINGTON/Ontario/5_11157570_ON20070723102323353/

http://www.autotrader.ca/a/Ford/Fusion/STRATFORD/Ontario/5_11324857_ON20080303110146547/

http://www.autotrader.ca/a/Ford/Fusion/WINDSOR/Ontario/19_4411761_/

[aaronk]

I would personally recommend a 2007+ Honda Civic. They look modern still, and can easily be had for under $10K. They are very affordable to keep on the road for fuel, mileage, etc. and are known for reliability. I have done a few searches for this type of car and there is one dealership that keeps popping up on AutoTrader called NexCar, they seem to turn over a huge volume of Civics and Accords and have very competitive pricing.

The Fusion is also a good option. If your student friend wants more space, I'd suggest a Fusion/Altima. Otherwise, Civic is the way to go.

[Vanstar]

For this kind of money, you cannot beat a Civic. They are reliable, drive and handle well and have good power. If something does go wrong, they are easy to diagnose and fix and parts are cheap and easily available. Chances are he could drive it for four years and sell it for half (or more) of what he paid for it.

The downsides for the 2006+ Civic is manuals are hard to find and the automatic lacks any manual mode but that is about it. Great little cars. My daughter has a 2006, she loves it and it has caused zero trouble.

[1TSX]

'06+ Civics that are <$10k are hard to find in the London area (he has no vehicle atm). There is one at a Hyundai lot, but I have no idea why the price is so low for an EX model??

http://www.autotrader.ca/a/Honda/Civic/LONDON/Ontario/5_11057441_ON20080514103823375/

[Careener]

I'll sell him my 06 Mazda3 GX manual and throw in a can of Rust Bullet for $6k ;-)

[kenm]

'06+ Civics that are <$10k are hard to find in the London area (he has no vehicle atm). There is one at a Hyundai lot, but I have no idea why the price is so low for an EX model??

http://www.autotrader.ca/a/Honda/Civic/LONDON/Ontario/5_11057441_ON20080514103823375/

Maybe it's because it's 6 years old, has 129k on it, and therefore, that's all it's worth. The 3 cars in the 1st post are all reasonably good choices, but overpriced. Thumbs up on the Fusion. With a little bit of work, you can score on deal on one, especially if it's a manual tranny version.

[1TSX]

'06+ Civics that are <$10k are hard to find in the London area (he has no vehicle atm). There is one at a Hyundai lot, but I have no idea why the price is so low for an EX model??

http://www.autotrader.ca/a/Honda/Civic/LONDON/Ontario/5_11057441_ON20080514103823375/

Maybe it's because it's 6 years old, has 129k on it, and therefore, that's all it's worth. The 3 cars in the 1st post are all reasonably good choices, but overpriced. Thumbs up on the Fusion. With a little bit of work, you can score on deal on one, especially if it's a manual tranny version.

Well, similar ones are priced 2-3k higher $.

I just spoke to him again today...he doesn't want any Domestic makes, and it has to be Automatic. 

[kenm]

Well, similar ones are priced 2-3k higher $.

I just spoke to him again today...he doesn't want any Domestic makes, and it has to be Automatic. 

I just can't see any justification for the continuation of high asking prices for late model used Civics, when new ones are being offered with 1.9% lease / finance rates and a $1000 gas card. Late model used Corollas used to be similarly high in price, but have dropped considerably in the last 2 years.

[Brigitte]

If he's willing to move a bit on price, a forum member has got something good for sale:

http://www.autos.ca/forum/index.php/topic,75604.new.html

[ggweci]

  Thanks again Brigitte.  I posted a reply in my thread already:

"We will move a bit, but I do have a fair bit of interest already.  I believe I have priced it fairly, but am open to serious offers."

[1TSX]

Thanks, but according to his blackbook source, a 2006 Civic is worth over 10k retail, which would impede on his student loan terms...so thats out.

[aaronk]

Thanks, but according to his blackbook source, a 2006 Civic is worth over 10k retail, which would impede on his student loan terms...so thats out.

Doesn't it depend on mileage/condition?

[1TSX]

Thanks, but according to his blackbook source, a 2006 Civic is worth over 10k retail, which would impede on his student loan terms...so thats out.

Doesn't it depend on mileage/condition?

That is what I thought...

Anyways, apparently he can get a 06' Civic, DX-G model now. 

[tortoise]

-It has to be worth <$10k BOOK value (affects the amount he gets in student loans)
-Compact to midsize
-Reliable for the next 4 years
-Relatively comfortable (he occasionally drives 2.5 hrs back home, and noted he hated driving his parents 98' Corolla on the highway...)

He sounds like a good candidate for a Corolla.  The newer ones aren't so bad on the highway. 

[The Mighty Duck]

Any possibility of having the title in his parents' name (for the time being)? I'm not actually sure about the mechanics of this in Ontario, but that would avoid the problems with student loans.

[1TSX]

-It has to be worth <$10k BOOK value (affects the amount he gets in student loans)
-Compact to midsize
-Reliable for the next 4 years
-Relatively comfortable (he occasionally drives 2.5 hrs back home, and noted he hated driving his parents 98' Corolla on the highway...)

He sounds like a good candidate for a Corolla.  The newer ones aren't so bad on the highway. 

Yeah, we're checking out the following:

-2006 Corolla LE, with 56kms, $10.5k (by owner)
-2007 Accord DX-G with 146km, $9.5k (by owner with all records since new)
-2005 Mazda 3 GT with 68km, $10k (by owner)

We checked out a 2007 Fusion SEL V6 with 129km, for $10.5k...what a nice car for the money!

Any possibility of having the title in his parents' name (for the time being)? I'm not actually sure about the mechanics of this in Ontario, but that would avoid the problems with student loans.

Him and his parents are Canadian citizens, but they have recently moved to Michigan, so he is on his own unfortunately.

[johngenx]

The Mazda will rust like crazy.

[1TSX]

The Mazda will rust like crazy.

I know...but he wants to go see it.  Most of the ads for 3's in that price range have rust. It doesn't hurt to look at this one I guess.

[rrocket]

No brainer:  Corolla or Yaris sendan