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I actually purchased a used car in Miami back in 1970 for US$ 200.00, and sold it three months later in Los Angeles for US$ 100.00. But times were different then.
Looks like you will actually need an address somewhere in California in order to get insurance. It will be expensive with an overseas license as you will be unable to show a US driving record. Literally the insurance company needs a contact in case of accident and somewhere to send the monthly bill. If you have no address, you may be considered as a vagrant.
To be honest I consider this is not a recommended approach. It is risky to buy a decent reliable car at a cheap price, difficult to find insurance at a reasonable rate, and difficult to sell the car before you leave the country. Driving across this huge country of ours will require hundreds of hours of driving. Some of the driving will be through monotonous country with nothing interesting to see. It is much more convenient, and probably much cheaper to rent a car for a few weeks in one place, buy an inexpensive airplane, bus or train ticket, to another interesting part of the US, then rent another car for a few weeks.
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