In a viral TikTok video that's taking the internet by storm, a frugal car buyer makes a compelling case for the benefits of avoiding monthly car payments altogether. Vanessa Portillo, a TikTok user from Northern Virginia, shared her experience buying a 2003 Toyota Camry with an astonishing mileage of 146,705, capturing the attention of over 106,000 viewers.

Why Go Old?

Vanessa proudly showcased her vintage car, complete with an original cassette player still in working condition. "No car payment for me," she asserts in her video, presenting her choice as a savvy financial decision amidst rising car prices.

So, why are used cars gaining popularity? Buying a second-hand vehicle can prove to be significantly less expensive than purchasing a new one. According to auto experts, most depreciation on a car occurs within the first few years. This means that when you buy a used vehicle, you can often enjoy better value for your money, as it’s already gone through the steepest part of its depreciation curve.

Additionally, many dealerships offer Certified Pre-Owned (CPO) vehicles—lightly used cars that have been refurbished by the dealer, providing a balance of affordability and reliability.

The Dark Side of Used Cars

However, it's not all smooth driving. Potential buyers should be cautious of the higher maintenance and repair costs associated with older cars. The condition of a used vehicle can greatly vary, often depending on how well previous owners cared for it. Some may find themselves facing unexpected repair bills that could negate the savings from not making monthly payments.

Moreover, if you're in the market for specific modern features—like advanced safety technology or sleek multimedia systems—older cars might not meet your needs. As technology advances, many functionalities found in new cars may not be present in models that are years or even decades old.

What Are Others Saying?

The TikTok comments section is buzzing with opinions, showcasing a divide between fans of new and used cars. One comment reads, "I’m about to pay $980 for an ’08 Toyota Corolla S and it’s gonna be worth every penny!" while another warns, "140k miles?! You might save on car payments, but those mechanic bills will stack up."

Despite the skeptics, many users assert the reliability of older Toyota models. "That car will 100% last 300,000+ miles if taken care of," one commenter claimed, emphasizing the durability of Toyota vehicles.

The Bottom Line

Purchasing an old car can indeed yield significant savings and provide a workaround for monthly payments, but it isn't without risks. Prospective buyers must weigh the pros and cons carefully. Diving into the used car market could lead you to a great deal, but ensuring that the vehicle is in good condition and fits your personal needs is essential.

As the debate continues, individuals are left to ponder: is the quest for budget-friendly transportation worth the trade-offs that come with buying used? The answer might just depend on what you prioritize—financial freedom or modern features.

Are you team old car or team new car? Share your thoughts below!