My son bought a 1996 Saturn SL1 just over two years ago for a total sum of $1650. It had 112K miles, but was in good shape and was owned by a friend who sold it to him at what the dealer offered for trade. It was a single overhead cam and I noted that it had a cracked head replaced at about 70K miles. As such, the top end had just 40K miles on it.
It has been a reliable vehicle. He has driven it daily for 2 years and about 25K miles. When we got it I did all possible maintenance including 4 wheel brakes, tune up, wires, filters, trans fluid, oil, etc. This cost us about $250 at the time and we did all our own work... it was a good learning experience for him. We have since replaced tires, an EGR valve, a transmission solenoid, a muffler, and a mirror that he broke off driving into our garage (junk yard unit was $15). Total expenses including the tires has been about $400. He gets over 30 MPG and almost 40 on the open road. Insurance has been reasonable too as he does not have collision. I would say it was the perfect first vehicle, but YMMV. He has now taken the car to college this year with him to use getting back and forth. We don't worry much about it getting stolen or broken into as there is not much to steal. Body is still in good shape and it drives well, but this summer the A/C died. I refilled, but 3 days later it was dead again so there is a leak. I have not taken it in and we may pass as he is looking to replace it by next summer.
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