Never. The minute you drive off, if someone hits you, you just get retail nadaguide money. So in essence you are paying more than its worth. And just what is a cream puff? They made hundreds of thousands of those cars, might not have a lot of wear, but just because it was well taken care of doesn't mean the alternator or starter won't go. Just get something at or under book value.
The valuation for 20 year old cars is nuts. Even with low mileage and good care, the wires are still old, probably hasn't changed changed all the rubber on the car like gas lines, coolant, etc. Plus how long do you drive a 20 year old car? Say 5 years or more? Then it's a 25+ year old car? I think it's probably even hard to find them in the junkyard at this stage. I'd just look at 10-15 year old cars, you're probably in the same price range if it isn't a foreign car. The thing that always kills me is that people always think that foreign cars are more reliable than American, but they're paying a premium that they'll never recoup.
The valuation for 20 year old cars is nuts. Even with low mileage and good care, the wires are still old, probably hasn't changed changed all the rubber on the car like gas lines, coolant, etc. Plus how long do you drive a 20 year old car? Say 5 years or more? Then it's a 25+ year old car? I think it's probably even hard to find them in the junkyard at this stage. I'd just look at 10-15 year old cars, you're probably in the same price range if it isn't a foreign car. The thing that always kills me is that people always think that foreign cars are more reliable than American, but they're paying a premium that they'll never recoup.
