New or Used car needed for college student - help!

[lucigo]

My 18yo son was hit by a hit-and-run driver last weekend and we just found out his car is totalled. So we are car shopping and I need some budget advice. (He wasn't hurt, thank God!)

He has shown he is responsible over the last year, put all of his payments aside out of his scholarship money (also has a part time job) and was able to get new tires, keep oil changed, pay $400 transmission bill, etc. so I feel pretty good about helping him get a car. He had a 2003 Hyundai accent and was paying $116 per month for it. (He gets free tuition plus about $3200 per semester and he lives at home).

So the ins. is paying all but $300 and we are basically starting from scratch. I'm considering whether we should buy another cheaper older car, around the same as what he had before ($5-6K range) or should we look at a new one since they have a 10yr warranty. And if so how do I know whats a good price to pay for it?

My husband works out of town so he won't be able to go look with us so I'm a little nervous about picking out something both reliable and sensible. Help?

 

[MUFFYCAT]

I would get a gently used car.
Last March we bought our DD a 2006 Ford Focus with 22,000 miles for alot less then a new one.
In the fall my beloved Taurus blew up and I bought a 2008 Hyundai Elantra with only 11,000 miles on it. They both feel like new cars for alot less money.
We found them through AutoTrader.com. But we took our time because I wanted very low mileage and weren't in a rush.
My car died right after she left for college so I drove hers for 6 weeks until I found the Elantra.

 

[Tinker'n'Fun]

If you purchase a certified "used" Hyundai, they honor the 10year 100,000 mile warranty. We purchases a 2006 last year and were very happy with it.

I would try to find a used Hyundai, low mileage, to keep his payments down. Plus his insurance will be less with an older car.

Very, very glad that he wasn't hurt and that his Guardian Angel was with him that day.

 

[lucigo]

If you purchase a certified "used" Hyundai, they honor the 10year 100,000 mile warranty. We purchases a 2006 last year and were very happy with it.

I would try to find a used Hyundai, low mileage, to keep his payments down. Plus his insurance will be less with an older car.

Very, very glad that he wasn't hurt and that his Guardian Angel was with him that day.

He has a very strong guardian angel (his dad died when he was 9) and I have regular talks with him about keeping our son safe...and our daughters too LOL!

I'm glad to hear that we can get the warranty, on the 2003 Accent they did not honor the warranty with the transmission problems so I will be sure to ask about that this time! I most definitely would prefer lower insurance as I still do pay that for him right now!!

Thanks!!

 

[lucigo]

I would get a gently used car.
Last March we bought our DD a 2006 Ford Focus with 22,000 miles for alot less then a new one.
In the fall my beloved Taurus blew up and I bought a 2008 Hyundai Elantra with only 11,000 miles on it. They both feel like new cars for alot less money.
We found them through AutoTrader.com. But we took our time because I wanted very low mileage and weren't in a rush.
My car died right after she left for college so I drove hers for 6 weeks until I found the Elantra.

Thanks I will check autotrader! I called the Hyundai place here and they have an Elantra for him to look at, but its a 4 door and I know he wants a hatchback so he can install his massive sound system

He loved his "Charmander" so its going to be hard finding a replacement!

 

[lucigo]

Just wanted to thank you all for your input. I ended up driving him 3 hours to Tallahassee so he could get the exact car he wanted. Its a 2003 Hyundai Tiburon. It only had 46K miles on it, black, stick shift, leather seats...everything he wanted for $7400 (after taxes etc). He is a very happy young man!

 

[dakcp2001]

Just wanted to mention that when you are seriously shopping you should get a month of unlimited Carfax, and run through each VIN before you buy. This was a lifesaver for me, not only did I find out about previous accidents, but I found a ton of mileage roll backs. I was shocked at how many newer cars had been in major accidents. There were a few people selling cars that flat our refused to give me the VIN for a carfax which right away means walk away. It is not fool proof, it only shows you accidents that have had police reports or insurance claims, but it is worth the small cost to check up on what you are told. It was also nice to see how many previous owners, and you can see if the regular scheduled vehicle maintenace was done.

Best of luck, get him a nice safe car that he can keep for a while. Check the crash and saftey ratings !