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Epidemic supply problems have driven up used car prices in recent years. On average, used car prices are up 44% since 2019, according to CarGurus.com.
Where To Buy A Good Cheap Used Car
For used vehicles at the lower end of the price range, the risk of delivery problems is high.
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“It’s hard to find a good deal right now, and the prices are very, very high,” says Mark Scroggs, an independent dealer in Phoenix who buys 10-15 cars a week. “I see junk at auction that matches 150,000 miles. When the dealer recalls the car, it will go for $5,000,000 or more,” he said.
Every extra $1,000,000 in your budget will help you get a new car with fewer miles.
Phong Ly, CEO of used car website iSeeCars says shopping is made a lot easier if you take the time to do your research online before checking out any cars.
ISeeCars’ search filter, for example, can filter results not only by model, but also by years of inventory or vehicles with recent discounted prices. Other car buying apps and websites allow you to filter only from salvage titles or online dealers.
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On a limited budget, you’re looking at cars that are at least 10 years old and have done at least 100,000 miles. While that may seem like a lot of miles, Scroggs says that in the past, “if the car had 100,000,000 miles on it,” it was done Now you don’t change your electrics until 100,000 miles.”
However, with a car of this age and wear and tear, you will likely be the last owner. A car’s resale value is less than its history. With that in mind, try this filter on your favorite car buying app:
Your goal is the lowest mileage, single owner, accident free car you can afford. If it has a history of the car showing maintenance records, even better.
High-end cars may not be pretty or efficient or flashy, and they may not be the kind of car you want, but someone who keeps running sees no reason to drive.
Best Used Cars Under $10,000
By carefully browsing the used car listings, you can find what you’re looking for nearby. Additionally, vehicle history reports, such as CarFax reports, are also posted on dealer websites and car buying apps.
Craigslist and Facebook Marketplace are great options for finding cheap local cars, but they are exempt from many of the rules and protections that govern car sales. The listing is likely to include a vehicle history report, for example, or even provide the 17 vehicle identification number, or VIN, you need to use. There is also little recourse if you are defrauded.
Also, vehicles sold by private individuals have never been inspected or inspected. A dealer can put new (but cheaper) tires on an old car; A private seller cannot. If you plan to buy from a private party, budget between $100 and $200 for an inspection.
Mark Holthoff, director of auto enthusiast community website Klipnik.com, says your money will go a long way if you’re looking for a car with minor cosmetic blemishes like faded paint that lowers the price but doesn’t affect mechanical performance.
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However, Scroggs warns that the “Toyota or Honda tax” – the premium placed on these premium Japanese brands for their popularity – reduces the value of an affordable car.
Choose from affordable Japanese brands such as Mazda, Nissan or Mitsubishi, or American cars. Scroggs says his auction experience has shown him that the same amount of money buys an American car for five years with fewer miles than a Honda or Toyota.
Ten years later, the owner of the car was more valuable than the manufacturer. Owner records can tell a lot, but so can a personal inspection. “If there’s a burger inside, they probably haven’t changed the oil,” says Scroggs.
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Sign up and we’ll send you articles on the financial topics that matter most to you and other ways to help you make more money.5 Cheapest Car Products to Buy, Used by a Car Expert All Start with the Letter S.
Focused on the latest and greatest in performance and fashion. We present the super cheap and cross. But not everyone wants to buy a new car. Sometimes all you need is to get from A to B, and a new video on Steve Lang’s YouTube channel features five inexpensive products you can buy that should offer affordable, reliable models. And they all start with the letter S:, Saab, Scion, Suzuki and Smart.
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Now, not all brands have amazing lineups. There are models you should aim for, and others you should avoid altogether, and most vehicles will depend on the owner’s maintenance program and records. One of the first brands looked at was the Saturn, which experienced strong economy and could offer Toyota-like reliability at a fraction of the cost if the owner kept up the maintenance and kept the water fresh.
Saab is another expensive brand, but not without flaws. They tend to have engine problems, and can easily throw out the check engine light, making it impossible to pass any roadworthiness test. It’s something to think about when looking at a Saab that most people don’t have now. Smart and Suzuki are both strong brands, though look for Japanese-built Suzuki models such as the Grand Vitara.
The last brand touched on is Scion, often Toyota’s cheapest entry; however, they have issues depending on the model and year. Most of the brands listed have models under $10,000,000, making it a viable option for those looking to save money when buying a car. Having the coolest new model in the neighborhood is nice, but not everyone wants to spend that money on junk. If you’re in the market for a used car under $5,000, you’ve got your work cut out for you. Prices are still high, and $5,000,000 is not a lot of money these days. That said, there are still great vehicles to be found, but at this price point, they are as individual as the exact year, make, or model, so be sure to do your due diligence before buying or have it done by an independent mechanic. one for you
Known for its compactness, fuel efficiency, and reliability, the 2007 Toyota Camry is a solid and practical choice at this price point. Even better, we found the hybrid model on sale at this price. The grid hybrid has fuel economy as low as 34 mpg. See a used 2007 Toyota Camry for sale near you
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The 2007 Honda Accord is another great midsize car under $5,000,000. As for the Camry and Accord, you’ll find plenty of models in this price range. However, if you’re looking for a well-maintained car, this reliable and efficient sedan (or coupe) is the perfect choice. See a used 2007 Honda Accord for sale near you
The Toyota Corolla is the archetypal car. Practical, functional, efficient and reliable, the Corolla will take you where you need to go. The trim level with the most features is the LE, but all three trims use the same 126-horsepower engine and average fuel economy of 37 mpg highway with the manual transmission. Check out a used 2008 Toyota Corolla for sale near you
In the world of compact cars, the Honda Civic is more popular than the Corolla for several reasons. The Civic offers excellent value, has a proven history of reliability and is fuel efficient. What sets the Civic apart is its sporty handling and choice of sedan or coupe styles. See a used 2008 Honda Civic for sale near you
If you’re in need of a utility vehicle under $5,000,000, the 2008 Ford Ranger should be on your radar. This
