Looking at a 2005 Camry 4-cylinder with 96k miles. It has a spotless Carfax report, one owner, and a full maintenance history. I even called the last mechanic who worked on it, and he said the car was in great shape.
The catch? It’s at a big Mercedes dealership, and even after negotiating, the lowest they’ll go is $7,000. Walked out yesterday, but still thinking about it. What do you all think? Worth it or too high for an older car?
ChrisBunnet said: @Bradas
Thanks! It just feels like a lot for an older car, but I really need something reliable. Private sales haven’t worked out for me so far.
Just don’t let the dealer know how badly you need a car. They’ll hold firm on the price if they sense urgency. How much did they come down from the original price?
Personally, I wouldn’t go over $5,000-$6,000 for a Gen 5 Camry, even if it’s well maintained. At this age, some parts will likely need replacing soon, like suspension components. I’d keep some money aside for that.
@Kale
Struts, motor mounts, bushings, brakes, and alignment were all done recently. That’s why this one has me thinking twice. Normally, I wouldn’t consider paying this much, but with all the maintenance, it’s tempting.
@ChrisBunnet
Honestly, the price isn’t bad considering the history. A well-kept Toyota with under 100k miles is rare, and it will hold up well. People assume just because they saw one for a few thousand less that you’re overpaying, but those usually don’t have the same maintenance records.
I worked at a dealership that bought trade-ins from luxury car brands. Most of them were in excellent condition because the previous owners could afford regular maintenance. If you’re looking for something reliable that will last, this seems like a solid buy.
@Hal
That’s exactly what I’m thinking. I know I’m paying on the higher end, but I’d rather get a well-maintained car that I don’t have to immediately start fixing. Appreciate the insight!
@ChrisBunnet
Good that those parts have already been replaced. Still, I’d consider getting a pre-purchase inspection. Sometimes, a dealer price feels high because they’re factoring in the perfect Carfax rather than just the condition of the car.
Are you asking if the Carfax itself is worth paying extra for, or if a car with a good Carfax is worth more? Either way, a pre-purchase inspection is more valuable than a clean Carfax.
I almost bought a Prius with a perfect Carfax, but an inspection found bad sensors that weren’t reported anywhere. I wouldn’t rely just on the report.
@Maxwell
I meant that the dealership is asking a premium because of the clean Carfax. I also called the mechanic who last worked on the car, and he said it was in great condition. Think I should still get my own inspection?
@ChrisBunnet
If you’re serious about buying it, a pre-purchase inspection is always a good idea. Even a well-maintained car can have hidden issues. But if the mechanic vouched for it and it’s a known reliable engine, you’re probably in good shape.
Used car prices are all over the place lately. In my area, even private sales with similar mileage are around $5,500. I’m looking at this older model because it has a solid engine and transmission—something I can’t say for a lot of newer cars in this price range.
Lilnim said:
If it has the 2.4L engine, be careful. Those are known for oil consumption issues after 100k miles, and the timing system can be problematic.
I’ve heard about the oil consumption issue, but I’ve also seen these cars go 300k miles when maintained properly. Is there another car in this price range you’d recommend that lasts that long?
@ChrisBunnet
Burning oil won’t stop the car from running as long as you keep it topped up. Just keep an eye on it, and you’ll be fine. A lot of older cars need occasional oil top-offs.