If you need help finding a good car for a tight budget, a few things are essential to look for. Luckily, many online resources help you make the best choice. Autotrader is one of the most well-known online places to find a used car that suits your specific needs. Another tried and true method is to talk with people you know about needing to buy a low-cost car. Opportunities may come up that you never thought of!
When looking for a good car, it may be helpful to keep the general quality of car brands in mind. Overall, Asian manufacturers make the most awards for their vehicles in dependability and value, which may cut some time off your saver’s search. However, when looking for a car on a budget, there are more things to look for no matter what car you choose. Here are things to keep an eye out for when buying a used car and a few of the best-used cars on the market for under $5,000.
Things to Check For
When buying a car, always ask to take it on a test drive. You can get many important insights about the car when you drive it and get a feel for the vehicle. In your inspection, look for these things:
- Rust in the wheel wells, doors, etc.
- Rubber seals on sunroof, windows, doors
- Tires for nails, treading, good condition in brake pads
- Mildew odor that may mean water damage.
- Mileage- too much could mean wear on the vehicle, but too little could mean they didn’t use the car, which can also cause wear.
When taking the vehicle for a test drive:
- Check the “check engine” light and other indicators before fully turning the key into the ignition. If an indicator is on, ask about it.
- Drive with the radio on. Try different audio functions.
- Drive with A/C on and test the settings.
- Check commonly-used systems when driving, like blinker functions, pedals, dashboard.
Lastly, when checking out a used car, take it to a mechanic for an in-depth check. This can notify you of anything that may break the bank later, and you can gauge your decision off good information.
Best Gas Mileage
Forbes Wheels says the Honda Fit is about $5,000 or less up to its 2012 model. This compact car seems to have the best gas mileage for this low price range, at 31mpg. You may be able to find something like a Toyota Prius c with better fuel economy, but it is much more difficult to find them as cheap as the Honda Fit. Compact cars tend to have the best gas mileage. So if you are looking for more space, you may need to sacrifice some fuel efficiency.
Most Reliable
Kelley Blue Book places the 2005 Toyota Camry as the most reliable car under $5,000. As this car is deemed “famously-reliable” by Forbes and many other car owners, it’s the reigning champion for a reason. These cars get enough use to be cheap and well-kept but watch out for those that have seen too many days.
Most Reliable Brand Overall: According to J.D. Power, KIA is the top-ranked car brand for dependability after three years of use.
Best Price
2009 Ford Taurus is one of the best cars you can get for the price. The average listing price, according to U.S. News, is $3,561. Ford’s domestic parts are a major money-saving factor, making this car cheap to repair when needed. Although this model may be older, domestic car models are less reliable than other brands. They may be able to get you from point A to point B on the tightest budget.
Best Value Car Brands Per Dollar: U.S. News reports that “Hyundai won the most awards of any brand, with five wins” on the topic of best cars for the money.
Now that you have that affordable car, how can you get the most life out of it?
