Things have gone well. The IPO sold out 20 minutes after the market opened, smart accountants have sheltered your accumulated wealth in several creative ways, your health is good, the house is paid for and the pool cleaning guy comes every single day because, dang it, you like a clean pool. Now’s the time to dip a bucket into your river of revenue and buy your first million-dollar car. Or two-million or three-million or, hey why not, go deep into eight figures for that perfectly extravagant used car.
Back in March 2019 Bugatti sold what it says is the most expensive new car of all time – the single “La Voiture Noire” went to a “Bugatti enthusiast” for $12.5 million. But that’s an anomaly. The world’s most expensive cars aren’t new, they’re used. Often well-used too, doing things like winning the 24 Hours of Le Mans, earning world championships and hauling movie stars from Malibu to MGM and back in the 1930s. Noble work.
But classics, no matter for how much they trade hands, are still also used cars. Big prices don’t patch leaking gaskets, rust doesn’t know it’s dining on Ferrari steel, and you can’t store a car in a safe deposit box. And if you’re not happy before you drop seven figures on a car, that car isn’t likely to make you happy just because you own it. Living life with money doesn’t guarantee anything beyond being able to afford what you like.
That in mind, a million-dollar car has its own challenges. There’s a reason a car sells for a million dollars, and it’s not because it’s a Camry. A hyper-expensive car will certainly be rare, definitely high-profile, likely powerful, probably temperamental and usually pricey to maintain. There’s nothing normal about a classic. Except the normal things.
The now iconic 5.0-liter V8 equipped “Fox body” Mustang, whether in plain Jane LX or gussied-up GT form, has seen its stock rise quite a bit in recent years. We like these frisky, squared-off “Box body” ponies as much as the next car buff. But these days it’s getting increasing tough to find one that hasn’t been ridden hard and put away wet, modified in questionable taste, or priced too optimistically.
On the other hand, the Fox’s successor, the ’94 to ’98 Mustang — known to pony car fans by its “SN95” internal factory moniker — is, in GT form, something of a dark horse that is currently an outstanding value.
It’s no secret that we’re fans of the Mk6 generation Volkswagen Golf. In our model-specific buying guide, we say that anyone “looking for one car that’ll do it all” for under $15,000 should look no further than VW’s popular hatchback, which manages to balance performance, economy, refinement, and even reliability with surprising grace.
At the time, we stopped short of recommending any of the turbodiesel, or TDI, variants. That’s not because they aren’t good cars. On the contrary, VW’s punchy turbodiesel engine pairs quite nicely with the Mk6 chassis, making for an efficient and fun-to-drive all-rounder. However, in the wake of VW’s emissions scandal, aka “Dieselgate,” there was too much uncertainty about how the the TDI models would be affected to give them a solid thumbs up.
But in recent months, the Dieselgate dust has begun to settle, bringing some important new factors to light — factors which have caused us to revise our stance. Dramatically.
In fact, we now believe that VW’s TDI models represent one of the best used car buying opportunities to come along in years.
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We’re no doubt preaching to the choir here, but there are lots of great reasons for buying an older used car.
If you’re nostalgic for the style of a past era, these vehicles will satisfy your thirst for vintage design. For example, there’s no denying the elegance of a classic Jaguar.
In some cases, older used cars offer performance benefits that are hard to duplicate in newer models. Case in point: With its high-revving, naturally aspirated V8 and sonorous engine note, the E39 generation BMW M5 delivers a driving experience that’s one of a kind.
Finally, buying an older used car may allow you to take a big step up when it comes to your choice of vehicle. Thanks to depreciation, older used cars are just a fraction of the cost of their new counterparts. Hardly anyone can afford a brand new Mercedes-Benz SL roadster, but one that’s 10 or 15 years old can be had for used Camry money.
While we do advise paying cash for a used car rather than financing it, we recognize that not everyone is in a position to do that. So if you are going to make your purchase with the help of an auto loan, it’s important to know that there are significant differences between financing a new vehicle and an older used car.
Because financing an older used car comes with a unique set of challenges, we’ve compiled this comprehensive guide to help you navigate the process from start to finish.
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Imagine a spirited drive along your favorite road in a top-down roadster. The scenery rushes past, and there’s nothing but sky above you. With nicely weighted steering and near 50:50 weight balance, the chassis becomes an extension of your fingertips, while your feet coax beautiful arias from the smooth-spinning inline six under the hood.
It’s no pipe dream. Thanks to the magic of depreciation, this fantasy, in the shape of the E85 generation BMW Z4, can be yours for less than $10,000.
And considering that buys you a premium German roadster with some of the best powertrain options ever offered in a BMW, we think it represents an outstanding buying opportunity in today’s market.
It would have been rare a few years ago for hybrids to show up on most used-car shopping lists. There weren’t that many in the market, and there wasn’t much choice.
Toyota’s hybrids dominated, with gas-electric models from Honda and Ford in distant second and third place.
But stuff happens. Things change.
Today there’s a wide selection of used hybrids available, from almost every manufacturer. Because of their often-stellar fuel efficiency, plus the high-end trim and standard equipment levels among many of the more recent models, they are cars – and crossovers, SUVs, and trucks – that most every used-car shopper should consider.
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Toyota’s 1992-1996 Camry is the greatest used car ever. Here’s how it got to be that.
Paint fades, that new car smell wafts away, upholstery wears, and dings and dents are inevitable. Great used cars don’t avoid those indignities, they wear them as battle scars. They’re indomitable and intrepid; reliable and resilient; and cheap to keep on the road. A great used car has an aging nobility to it. So, the greatest used car of them all is the 1992 to 1996 Toyota Camry.
You’ve done your research, and you’ve identified the make and model of the used car you wish to purchase.
But you didn’t stop there, you busy beaver. You’ve also taken a look at local inventory, and you’ve found a few vehicles in your area that are qualified candidates. There’s even one in the exact color you want.
At this point, your excitement level is probably high. There’s a rush of adrenaline that comes with knowing you’re this close to finding a car that seems like a perfect match for your needs.
But don’t let those happy feelings lead to a rash decision. There are still a few final steps to take before you pull the trigger.
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A couple of decades ago, the search for a used vehicle began with hours spent squinting through the classifieds. You’d then head out to get a closer look at each candidate, and this could involve fending off aggressive salespeople at local used car dealerships or mumbling through awkward interactions with private party sellers. Then along came the Internet, an innovation that allowed us to search for used cars online.
In many ways, the Internet has simplified the process of shopping for a used car. But it can also make this task more overwhelming. There’s an almost endless selection of websites offering to help you select your next pre-owned vehicle, and you may find yourself drowning in a sea of information and choices. These sites aren’t all cut from the same cloth, and knowing which ones you can rely on can be tricky.
That’s where we come in. Here at Klipnik, we live and breathe used cars, and we’ve explored pretty much every used car resource available. Below (in alphabetical order), we’ve listed the sites that we find ourselves returning to over and over again and which have earned our stamp of approval. They provide all of the assistance you could ever need to find and buy the used car of your dreams.
You can’t help it. You’re captivated by the sleek styling, the open top, the storied heritage, the rumbling V8 that shoves you back in the seat. Let’s face it. You’ve got Corvette Fever.
You’ve also got a budget ranging from $10,000 to $20,000 — a relatively modest outlay that nevertheless gains you access to three different generations of Chevrolet’s iconic sports car, spanning 30+ years and a wide variety of styling, engineering, and performance options.
Here we give you the lowdown on these: the C4 (Corvette, 4th generation), C5, and C6. With values that rise in lockstep with their successive iterations, each generation has its own unique set of pros and cons. Picking the right one can be a difficult choice.
But not to worry. No matter how badly you’ve got the fever, we’re here to help you find the cure.
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