I saved so much money, buying, instead of renting a car.
So far, I’ve bought 4 cars, Honda Accord (US$1,300), Ford Econoline (US$1,500), Honda Civic (£900) and Toyota Siena (S$3,000). Renting a car would cost US$1,500 a month.
Mostly, I re-sold the cars for the same price or a profit.
That said, it takes about 2 full days, to research and buy the car. If travel is longer than a month, I always choose to buy.
Here’s how.
- Go to listing sites, Craigslist (US) or GumTree (UK).
- Search for Honda and Toyota. Japanese cars can easily run up to 300K+ miles and parts are also easily available.
- Rank by price, use filters for listing under $5,000.
- Open up all listening in new tabs.
- Look out for listing prices, mileage and appearance. Ignore cars that are not working. Get a sense of the market price and what is a good deal.
- Narrow down to 20 listings. Message or call them. “Hi, I’m interested in your car. Is it still available? Negotiable? I’d love to check it out”.
- Once they respond, ask “What’s your best price?” Then reply, “I’m looking at different cars. I’ll get back. I’m waiting for other’s response.”
- Look for a reputable car mechanic on Google Maps. Call ahead to arrange for a full-service check ($50 – $100). Smaller shops can usually check it, on the same day.
- Narrow it down to 3 cars and arrange to meet. “Can we meet at ADDRESS, the mechanic will do a car check. Is that okay?” If anything smells fishy, walk away.
- After the check, if anything needs repair, let the seller know and negotiate for a better price.
- If you feel good, complete the relevant paperwork. For the US, it’s the Bill of Sales.
- Make sure the photo ID name matches the car ownership document. Take a photo of their ID, face and car ownership papers (Car Titles).
- Get the cheapest online insurance. Because the car is cheap, it’s faster to pay for your own fixes/repairs, than dealing with insurance claims.
- Pay up. Drive off now!
- Change the car ownership to your name at the local vehicle licensing office. If you don’t have a friend in town, use a mail forwarding service.
- Once you get the new license plate, put it up. You’re all set.
AAA membership ($70) for extra security when the car breaks down on the road.
To adventures and beyond.