If that passed the functioning test, then great for you!
Statistically, the vast majority of buyers would prefer to buy a nicer car and finance it.
The reality is - unless you know a lot about cars - more times than not - you're going to spend WAY more money on a 20 year old car with >150,000 miles - then you are on financing a car 4x the price - and, especially, you don't need the $1520 that those people don't have to begin with.
>30% of Americans wouldn't even have the $1520 you paid.
Either you get ripped off at the point of sale (the car is totalled from any sane valuation) or you'll eventually get ripped off by mechanics.
Again, if this doesn't apply to you - then great - but it's not really surprising why people ignore the age-old adage to buy a car in cash when interest rates were negative in real terms for a generation.
I ended up spending about $3000 more on top of the $1620 to fix it up (160k mi) fully so while that was within my means, I am now free of a car payment for the foreseeable future so it really is kind of a Sam Vimes’ boots problem. I do know a fair amount about cars as do my friends.
Statistically, the vast majority of buyers would prefer to buy a nicer car and finance it.
The reality is - unless you know a lot about cars - more times than not - you're going to spend WAY more money on a 20 year old car with >150,000 miles - then you are on financing a car 4x the price - and, especially, you don't need the $1520 that those people don't have to begin with.
>30% of Americans wouldn't even have the $1520 you paid.
Either you get ripped off at the point of sale (the car is totalled from any sane valuation) or you'll eventually get ripped off by mechanics.
Again, if this doesn't apply to you - then great - but it's not really surprising why people ignore the age-old adage to buy a car in cash when interest rates were negative in real terms for a generation.