Need Car Purchase Advice

[AngusBoom]

Hi all.  I really need some advice.  I totaled my 2012 Yaris the other day and need to buy another vehicle.  I drive for Uber eats part time and use my car to drive during the day to visit customers for my full time job. So needless to say my next car has to be fuel efficient and reliable.  I got only 1500 for the Yaris since the accident was my fault and I didn’t have full coverage (believe me I learned a life lesson with that) Luckily nobody was hurt and the car I hit had no damage.  The Yaris was totaled and I now need to buy something else. 

My wife and I just became debt free (other than our mortgage) last month and the last thing I want to do is buy a car on payments.   But I don’t have the money to buy a decent car with cash.  My credit score is 805 and we make roughly 120k/year. I found a 2017 Yaris for 10k and could put 1500 down and pay it off as soon as I can.  What would some of you do in my situation? Buy this car, or should I be looking for something cheaper? 

Any advice would be really appreciated, thanks!

[Just Joe]

Look for another Yaris since you are familiar with them or look for an unpopular sedan of some sort. We have an older domestic "uncool" car that gets the job done for cheap. I don't care what anyone thinks of my car, just that its TCO is low. Be real choosy about the mechanical condition of the car you choose.

[NewbStache]

I am actually just in the process of purchasing a 2012 yaris. They are great cars, really reliable. The one I found was used, 50,000km, and manual transmission. It's only going to cost me $8500 CAD (about $6500 USD). It's not bad at all for a reliable low KM vehicle. Maybe you could find something similar, instead of going for something super new?

[scottish]

I am actually just in the process of purchasing a 2012 yaris. They are great cars, really reliable. The one I found was used, 50,000km, and manual transmission. It's only going to cost me $8500 CAD (about $6500 USD). It's not bad at all for a reliable low KM vehicle. Maybe you could find something similar, instead of going for something super new?

I agree.   They have a very low operating cost.    I picked up a 2011 last December with 110,000 km for $5000 CAD.   The PO had maintained it meticulously at the dealer, I only had to cut some extra keys and purchase winter tires.

[soccerluvof4]

I picked up about 4-5 months ago now a 2016 really nice Camry from a dealer after looking a bit with only 5k miles on it for 13.5k. I am 6'3 so all small cars are not the same for me but I really enjoy it. Around the same time my son who is 6'9 I got him a 2016 Kia Soul some sporty model that had 7k miles on it for 12k and he has alot of room in that car I'd rather have for me but he need the height. Hes in college about 900 miles away and every morning he gets up earlier and delivers bakery for cash and puts on 21 miles a day. Gets reimbursed for that as well. Alot of room in the back of that Kia Soul. Not quite as good mileage as my Camry though.

[KYFIRE]

I'm partial to Toyota's as well.

Would a Prius C be an option? Similar size as Yaris with slightly better fuel economy, especially in city.

Quick look on Auto Trader would be similar price, albeit maybe a few years older.

[Monkey Uncle]

Wait, you make $120k per year, and you can only scrape together $1,500?  I'm going to have to give you a little bit of a face punch...

Back on topic - the Yaris you found sounds like a decent deal if you have to purchase something right away.  As others have noted, you might look around for something a few years older if you have the time.