Why are even old used cars so expensive now?
Used cars that used to cost a few hundred dollars now cost a minimum of five thousand, while reliable options under fifteen thousand are a decade or more old. This massive price inflation makes getting a first car entirely out of reach for young people.
What the numbers show
Counted from the threads quoted below. How we count
- This comes up 10.5× more often in r/personalfinance than across the site as a whole.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
- 1riding e-bikes and electric scootersDid this help you?
- 2using golf carts where permittedDid this help you?
- 3relying on family transportationDid this help you?
- 4Saving for several years before buyingDid this help you?
- 5Sharing housing costs with a spouse or partnerDid this help you?
- 6Taking out multi-year auto loans or leasing vehiclesDid this help you?
- 7Looking into lower-cost Chinese EV alternativesDid this help you?
- 8studying and researching how to repair the vehicle independentlyDid this help you?
- 9asking mechanics on online forums for advice and comparative opinions on reliability and ease of maintenanceDid this help you?
- 10riding with your Dad until you've saved enough cash to buy a car without financingDid this help you?
- 11Getting rides to and from work from family membersDid this help you?
- 12Considering fixing the old broken-down gas-guzzling carDid this help you?
- 13Looking into purchasing a cheaper, reliable used car within a reasonable financing budgetDid this help you?
- 14saving up cash for a cheaper used carDid this help you?
- 15avoiding financing entirelyDid this help you?
- 16shopping around for rates and insuranceDid this help you?
- 17working on the numbersDid this help you?
- 18comparing used versus new vehicle prices and warrantiesDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“Couldn’t find a reliable second car that was under 15k and they were all 10-15 years old.”source ↗
“Even old used cars are now like $5k minimum. My first car was $500 and lasted me 4 years... getting a car is just out of reach.”source ↗
“So long story short, I'm about to get a new vehicle, getting rid of my Avalanche. My choices are an 06 Acura TL, an 08 Elantra, and an 08 Malibu.”source ↗
“I"m here asking because I don't have hte income to be paying monthly for a used car at a dealership, my mechanic friend is giving me one of these as a gift”source ↗
“I'll be studying and researching how to repair my vehicle myself in the future”source ↗
“I just don’t know what it’ll cost or what’s going to break after. Car is at 187k so not at 200k yet but this is the third or so time in the last year or two it’s broken down for more than 6 weeks unfortunately”source ↗
“I dunno I ain't moving anywhere with this income.”source ↗
“Im driving a Toyota Yaris 2006 that has 250.000 kilometers on it and its slowly breaking down but how the f. am I suppose to afford an electronic car, a yard, pavement, other stuff?”source ↗
“It's like I gotta save 4-5 years for one of those things”source ↗
“I make 1200 a month. So all of that would be at least half of my monthly check.”source ↗
“Problem is, my car has been sitting since late last year due to overheating issues and leaking fluids.”source ↗
“my credit went from around a 670 or so to a 545.”source ↗
“my payments would have been close to $780 for 72mo on a new Corolla Hybrid… Which I can afford, but that loan is at 20%+ APR and that’s just a terrible decision”source ↗
“I just got my license. I dont have any money its gonna take me like 2 months to save up 5k for a used car or down payment on anything.”source ↗
“This will be the first time that I buy a car and will have a car loan. I’ve always bought used cars, so I am very nervous about this whole thing.”source ↗
Where this came up
People with this problem also raised
- 4Why does a normal car payment take up so much of a modest salary?
- 8How to choose between two cars within budget
- 4How do you figure out a reasonable car purchase price?
- 2Where to invest monthly for a car purchase 6 to 9 years away?
- 57Is it a smart idea to buy a new car right now?
- 23How to know if we can actually afford a house