$5000 + desire for a minivan = ?

[ganchan]

I want to buy a minivan to double as a daily driver and a camper for 1-week to 2-week road trips (and as a kind of trial run to determine whether I'd want to move up to something more "homelike" a few years down the road). A year from now, I'll have $5,000 saved for thus purpose. I can use that sum to buy an old high-mileage vehicle in cash, or I can use it as a downpayment on a younger (but still used) vehicle. My instinct says to pay the lump sum and go for a the most bullet-proof make/model I can (Toyota Sienna etc.) rather than being shackled to a loan, at least for these early "experiments" in road life -- but it's hard to fight the old instinct to purchase the youngest, most low-mileage vehicle possible I could get my hands on.

What would you do?

 

[mayble]

Speaking as someone who has bought three vehicles in the last seven months, I vote for "buy cheap, pay cash and replace as needed".

I bought a late model minivan to replace my crossover for daily use and road tripping/camping.  Personally, I found it to be too small (not enough vertical space/headroom).  It works for many, but not for me.  Awesome daily driver, but if I wasn't locked into it due to the financial obligation I would sell it in a heartbeat.  A very expensive lesson.
My next two purchases were for cash: older vehicles that are already depreciated (a small Class C motorhome and a full size conversion van).  If one doesn't work out it doesn't cost me much - sell it and move on.  If it does, I can buy a newer version of the same thing after I've worked out some of the details.
The thing is, there's no way to know what works until you try it.  Everyone has different needs and wants.  If you start cheap and stay flexible, you can find your way and not be locked into something that just isn't right for you.

That's my two-cents, for what it's worth.  I'm just getting started in this, planning to sell the house next year and hoping for an early retirement in another year or two after that.  I figure this is the best time to experiment, while I still have that steady paycheck and house.

 

[ganchan]

If one doesn't work out it doesn't cost me much - sell it and move on.  If it does, I can buy a newer version of the same thing after I've worked out some of the details.
The thing is, there's no way to know what works until you try it.  Everyone has different needs and wants.  If you start cheap and stay flexible, you can find your way and not be locked into something that just isn't right for you.

Yeah, it's the whole "locked in" thing that keeps from buying the "normal" way. If I buy the vehicle outright and it's not up to the task, I could also trade it in toward something better .... right now I don't even have a vehicle to trade in!

Also, as a freelancer whose income level can take surprising dips, the fewer monthly payments I have to maintain, the better.....  :blush:

 

[USExplorer]

You could buy a good minivan for five grand. I bought my Ford Explorer for that much two years ago. I didn't have the money upfront but I signed an agreement with the seller to pay it off in six months, no interest. I was still living at my parents house at the time so putting aside that much money was easy.

If you will be paying five grand in cash to a private seller it will definitely pay off (no pun intended) to make friends with the seller and discern their character. You should easily be able to find a minivan for that amount of money with no major problems. It will likely have the usual assortment of little annoying issues but nothing that can't be worked around or just ignored.

Also, paying upfront in cash will entitle you to a price lower than the list price or KBB value. Don't be afraid to bargain hard. For example, you should be able to get a base model '04 Sienna in good condition with 90K on the clock for a little over four grand.

 

[Kitt]

You could buy a good minivan for five grand. I bought my Ford Explorer for that much two years ago. I didn't have the money upfront but I signed an agreement with the seller to pay it off in six months, no interest. I was still living at my parents house at the time so putting aside that much money was easy.

If you will be paying five grand in cash to a private seller it will definitely pay off (no pun intended) to make friends with the seller and discern their character. You should easily be able to find a minivan for that amount of money with no major problems. It will likely have the usual assortment of little annoying issues but nothing that can't be worked around or just ignored.

Also, paying upfront in cash will entitle you to a price lower than the list price or KBB value. Don't be afraid to bargain hard. For example, you should be able to get a base model '04 Sienna in good condition with 90K on the clock for a little over four grand.

Man where are you looking for cars at ?! An 05 sienna with around 100k runs upwards of 6 grand here! But then again I do live in California. Not only that but Santa Barbara California. Everything is outrageously expensive here!!!

 

[LeeRevell]

I want to buy a minivan to double as a daily driver and a camper for 1-week to 2-week road trips (and as a kind of trial run to determine whether I'd want to move up to something more "homelike" a few years down the road). A year from now, I'll have $5,000 saved for thus purpose. I can use that sum to buy an old high-mileage vehicle in cash, or I can use it as a downpayment on a younger (but still used) vehicle. My instinct says to pay the lump sum and go for a the most bullet-proof make/model I can (Toyota Sienna etc.) rather than being shackled to a loan, at least for these early "experiments" in road life -- but it's hard to fight the old instinct to purchase the youngest, most low-mileage vehicle possible I could get my hands on.

What would you do?

Been there, did that. Bought my Dodge Grand Caravan used, while I was employed. Paid it off early. I use it as my DD and for occasional camping and roadtrips. Highway mileage is 25MPG, and it fits us Big Guys well. I have no complaints.
I have owned several Dodges, and like them.

 

[ViaVacavi]

I've always wanted to convert a Dodge grand caravan that has stow and go seating. So many possibilities!

I think the build featured at
Is an excellent example!

 

[Trebor English]

I agree with Mayble, headroom is a challenge. At 5'9" my Windstar is adequate but not generous.

If you wait and then get something inexpensive you don't become a slave to your lender and you don't pay rent on the money.

A year from now is one more year away from the "cash for clunkers" fiasco that distorted the used car market. It is getting better. If you can budget 4 or 5 kilobucks that should get you into something that has a few thousand low cost miles left in it.

You might be able to rent or borrow a minivan for a weekend. That might be enough to rule it out if it just doesn't fit.

 

[ganchan]

I've always wanted to convert a Dodge grand caravan that has stow and go seating.  So many possibilities!

I think the build featured at
Is an excellent example!

I would love stow and go; I'm just afraid to buy a high-mileage Grand Caravan and then beat it to death on cross-country trips ....  :-/

With the Sienna, will I have to physically remove the 2nd-row seats to get an inflatable mattress pad in there, or does that row slide out of way or something? Or does that feature vary with different model years?

 

[NickTheoBennett]

In my 2001 Sienna, which I removed all the seats from, it could not have been easier. Both the seats in the middle row and the back bench had a lever of some sort underneath that you just lift and slide. My father in law, the previous owner, used it as a cargo van occasionally because it was so easy to remove all the seats. I'd say that once you've done it once and know how to it takes maybe 5 minutes to remove or re-install the seats.

This seems like it would work well for your purposes since you could store the seats in a garage or something for use while having it as your DD and to maintain resale value.

 

[KASibson]

Man where are you looking for cars at ?! An 05 sienna with around 100k runs upwards of 6 grand here! But then again I do live in California. Not only that but Santa Barbara California. Everything is outrageously expensive here!!!

LOL...I was thinking the same thing, only 7k-8k.  I live near San Francisco.

 

[Odyssey]

In my 2011 Sienna minivan, the rearmost seats fold into the floor. But the middle row split seats- you can take them out but the trolley mount stays in the tracks. Nobody told me how much that would aggravate!

So you either build up the floor over them or have a body shop remove them or ignore them.

I will say this about the '11 and newer Siennas- very safe vehicle. My first one was totaled on I-26 in NC Oct 2010 when an 18wheeler driver (asleep at the wheel) plowed into a line of vehicles and destroyed 9 other vehicles. Mine was #6 in the lineup. 5 people were killed in vehicles behind mine, 4 had major injury. The cars piled up like dominoes, slamming into each other. All 9 airbags deployed. NCHP said it was the nastiest thing he'd ever seen. I walked away with very minor injuries, thanks to my van and those Michelins. I will also tell you it was a good thing I had excellent insurance coverage, because the trucker who tried to kill me did not. That's another story.

That's why when GEICO heard about it and mailed me a check for my collision damage, I bought the exact same vehicle again.

 

[KASibson]

Holy Carp!!


I can't imagine being in a wreck like that!
I'm glad you're ok
I think the Honda Odyssey just moved up in my estimation.
Right now I'm sort of torn between the Odyssey and the Toyota Sienna (saving my pennies and watching Craigslist).

 

[ganchan]

I'll definitely be removing the 2nd row and stowing the 3rd row. I want to put one of those narrow little inflatable camping mats back there. I'm also wondering if I can make room for this bad boy:
Mosaic Anti-Gravity Lounger

...or something similar. It flattens out into a steep recline, so maybe the height will work out....