I bought my 2008 Toyota Sienna for $4500. I talked him down from $4900.
It had:
- 230k miles (269k now)
- an engine replacement (2010 engine with 110k miles, replaced at 201k on chassis)
- severely worn out sliding door rear hinges, bad enough to be grinding the body under the 3rd row windows down to bare metal
- broken power steering rack (found that a few weeks later)
- balding tires
- rattle-can patch job (black paint on factory black paint, not a deal-breaker for me)
- blown out rear shocks
- more that I've forgotten (noted down in my records)
I bought that van because 1) it was a really good price, 2) engine and transmission are in really good shape, 3) rust-free, and 4) I knew what most of its issues were before I bought it and was able to fix it all in my garage.
Also, I have 5 kids, so the minivan was a necessity. $5000 is the bare minimum for a family car these days.
I've got four paid-off vehicles (2 cars, 2 motorcycles), and am about to acquire another car (W123 diesel Benz) from my wife's grandmother who is no longer able to drive.
I don't care to have any more car payments, and I hope it stays that way for a long time.