How to find a car for under $30k
The best place to find a good deal is normally Craigslist + haggling after looking for desperate sellers (guys getting married, in debt, etc.). It’s kind of like picking up foreclosed cars, but you have to be quick.
People are dead on when they say don’t buy new, but I’d like to add onto that and say don’t buy from dealers unless you do research first. This is because you can get better deals buying used from private sellers.
If you just wanted a comfortable everyday luxury car, I would’ve recommended a Lexus because Toyota is the #1 car manufacturer in the world. Their reliability is superb, you’ll save a ton on maintenance compared to European cars (Mercedes-Benz, BMW, etc.)
If you wanted to go the BMW route, I would’ve chosen a slightly used 2001-2003 M3 — they are the best bang for the buck right now at around 23-30k.
For anyone else looking at cars, I would say that “undervalued” cars in terms of power-prestige-looks include but are not limited to: Honda S2000 (good looking and sporty but is a Honda), Lexus IS300 (Good all around car, power, prestige, looks), BMW M3 (girls see BMW, guys see M3)