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Some examples...
mazda3, new $16K - used with 85,000 miles, $7,000
chevy cobalt new $15K - used with 60,000 miles, $7,000
honda civic new $15,500 - used with 80,000 miles, $7,000
corola new $15,350 - used with 80,000 miles, $7,000
anyway - just some quick quotes. Basically all the same, 70-80K miles on the car for $7K, or about $15K MSRP (probably get for $14K with current deals) for brand new. I know people say some cars last 200,000 miles, but itīs not normal, at least not without a lot of work. With $7K you will get a good used car. But after a couple of years, depending on how much he drives, it will hit 100,000 mile mark - and probably start investing more money into it. By the time he gets to 150,000 miles he will have invested same as if he bought new in first place.
Worst case get a $14K brand new car, put down $5K and finance the other $9K. Although heīll have monthyl payments he wont have to worry about any major repairs for years
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