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ur at big 3 mbb and ur trippin about a 6k budget on a car 🥱
The average price of a car in the US is $49k. Average used is $29k.
I can't help but take the opportunity to say that this is par for the course from strategy consulting 🫠
1) Gonna depend on preference, but I’d be shopping for a Japanese compact/midsize car with as few miles as I can find.
2) I like using cargurus.com and autotrader.com to shop.
3) cargurus.com has market value built in to its search, but kbb.com is a very well known resource.
4) not that I’ve ever looked into it, but I’d imagine a local mechanic may be willing to do a once over on any car you’re considering purchasing for $50-100.
5) No, but good luck with the search!
p.s. depending on how long my commute actually is, I’d personally be shopping for a new motorcycle in that budget or even considerably less!
For example: https://www.cargurus.com/Cars/inventorylisting/viewDetailsFilterViewInventoryListing.action?sourceContext=carGurusHomePageModel&entitySelectingHelper.selectedEntity=&zip=77598#listing=349810469/NONE
You’re working at an US McKinsey office. Sure you can, and should, get a car safer and more reliable than a 5k one.
I got an Acura TSX 2010 for 5.5k on FB marketplace and it has not given me any issues
I would try to increase your budget, if possible. The budget provided is going to leave you with an unreliable steed, and in a city like Houston where a car is essential, breaking down becomes more likely.
Yea it’s a safety issue
At that price, anything will be a massive gamble. It might get you to and from work safely for years, or it might cost you thousands in repairs and cause safety and timeliness issues as it breaks down repeatedly.
If you're on a shoestring budget, consider a low cost factory lease deal instead. You'd be guaranteed a new, reliable car at potentially around $6-$8k over 3 years which could include maintenance and any issues would be under warranty.
I’ve heard good things about car max but your guess is as good as mine
Inclined to agree with the crowd on this one, pre Covid this was probably doable, but used car prices are pretty rough at the moment. At that price point you are either going to end up with something that is super high in miles and/or has a salvage title. If you are looking to get something reliable that you can drive for a while, I’d look for a compact from one of the Asian brands - maybe a Kia Forte or a Toyota Corolla that is a year or two old. Going to be well above the $ listed, but the payments would be very reasonable.
Any counsel job openings at A&M in Texas? 🤔
Keep the cash. Go to carvana.com and finance 12-14k but pick your payment terms on a lower mileage Honda Civic. The money you have should let you make payments with enough run way to save the rest, and youll get a good 8-10 years out of it rather than 1-2
This is how they are monetizing FB
There used to be a bunch of used car dealerships all down Shepard off of i10. Not sure if they’re still there but they had cars in that price range.
I know people are piling on, but I think it’ll be worth budgeting for car to get a safe one and in the mean time use public transit/Uber. You don’t want to be broken down on the Katy freeway or any freeway really..
For that price range, your best bet is Facebook marketplace (same as craigslist) and it's a hit or miss. I'd stick to Asian cars like Honda/Toyota/Nissan, or anything that's cheap and easy to repair/maintain. That way if anything goes wrong, you're not hit by a massive repair bill like most American/European cars have due to specialized tools and parts.
Also worth looking at leasehackr.com if you can find a cheap $150/mo lease on a basic car. Could substitute for what you need till you can save up