10 Best Used Cars Under $5,000
- 2009 Nissan Sentra.
- 2008 Mazda6.
- Sponsored.
- 2008 Ford Focus.
- 2006 Honda Civic.
- 2005 Toyota Corolla.
- 2005 Honda Accord. The Honda Accord is a midsize sedan with roomy back seats that easily fit three adults.
- 2005 Toyota Camry. Consistently positive reviews earn the Toyota Camry a spot on our list.
What is a good first car under 5000?
That being said, here are 8 of the best cars you are likely to find for under $5,000, according to industry experts:
- Toyota Camry, 2002-2006.
- Toyota Sienna, 2004 to 2010.
- Ford Focus, 2008 to 2011.
- Honda Civic, 2006 to 2010.
- Subaru Outback, 2005 to 2009.
- Acura TL, 2003 or earlier.
What is the best website to find cheap cars?
The 16 best used car websites
- Autotrader.
- CarGurus.
- Cars.com.
- Kelley Blue Book.
- AutoTempest.com.
- CarsDirect.
- Craigslist.org.
- eBay Motors.
What is the cheapest way to buy a good car?
Buy used. If you’re just looking for the cheapest way to get a vehicle, buying used is the way to go. Many vehicles last longer these days, and used cars come with more standard equipment than just a few years ago, plus, used cars typically cost less than new ones.
What is the best car under 5000? – Related Questions
What should you avoid when buying a car?
What to avoid when buying a used car
- Not test-driving the car thoroughly.
- Not looking at maintenance ratings.
- Not getting a mechanic to look at it.
- Not asking about the vehicle history.
- Not asking for the car you want.
- Not negotiating up from the dealer cost.
- Not reviewing the final sale paperwork carefully.
What is the cheapest month to buy a car?
In terms of the best time of the year, October, November and December are safe bets. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals. All three goals begin to come together late in the year.
Can you still negotiate car prices 2022?
September 2022 update:
It is not uncommon to pay over MSRP, and discounts are rare. This seller’s market means that shoppers don’t have much leverage in terms of negotiation. These days, if you don’t like the price you’re being offered, salespeople know that there will likely be someone else who will pay that price.
How much money do you need to buy a decent car?
Follow the 35% rule
Whether you’re paying cash, leasing, or financing a car, your upper spending limit really shouldn’t be a penny more than 35% of your gross annual income. That means if you make $36,000 a year, the car price shouldn’t exceed $12,600. Make $60,000, and the car price should fall below $21,000.
What is a good mileage for a used car?
The average car gets in 10,000 to 12,000 miles per year, so used cars with an annual average lower than that can be considered as having good mileage. Simply divide the odometer number by the car’s age in years to determine it’s annual average.
What is the lowest price for a good used car?
Most auto experts say the lowest price for a reliable used car is now about $5,000.
Set practical, realistic search terms
- Price: Set the maximum about 20% above your budget.
- Distance: Start locally.
- Mileage: Set a maximum of 150,000 miles to begin.
What is a decent car payment?
Financial experts recommend spending no more than 10% of your monthly take-home pay on your car payment and no more than 15% to 20% on total car costs such as gas, insurance and maintenance as well as the payment.
What car can I afford monthly?
Financial experts say your car-related expenses shouldn’t exceed 20% of your monthly take-home pay. So, let’s say you bring home about $2,500 each month. The total amount you should spend on your car — including loan payment, gas, insurance and maintenance — is right around $500.
What is a good credit score for low car payments?
Therefore, a good credit score that allows you to easily qualify for an auto loan is anywhere between 661 and 850. Prime buyers get similar benefits to superprime, not requiring co-signers but with slightly higher interest rates. According to Experian, prime interest rates average at 5.38%.
What is the least down payment on a car?
In the past, the required down payment on a car was often 20% for new and used vehicles. In recent years, however, drivers have been putting less money down, with requirements as low as 9%.
Can I get a car with no down payment?
A zero-down payment Car Loan is when the bank offers to pay the entire value of the car as part of the loan. For example, HDFC Bank offers up to 100% finance on its Car Loans. That essentially is a zero-down payment Car Loan.
What is the average amount of time to pay off a car loan?
The most common terms are 24 to 60 months, but 72- and 84-month terms are becoming more common. There is no perfect term, and it is instead specific to your budget and needs. A longer term means lower monthly payments, but a higher cost overall.
Can you put a down payment on a car without a credit score?
If you’re a first-time car shopper with no credit or you have a credit score that needs work, you may be wondering if you can finance a car with no credit or bad credit. The answer is: yes!
Can I get a car with 500 credit score with no money down?
Yes, a 500 credit score will still qualify you for a car loan. However, credit scores affect the types of loans you are eligible for, as well as interest rates, loan amounts, and more. If you have a credit score that needs improving, it won’t stop you from getting a car loan, only the terms.
What credit score do you start with?
The base credit scores of the most popular credit-reporting models start at 300. Starting with a score of around 300 is possible only if you’ve managed your finances poorly. You may start to build a credit history or improve your score without using any type of credit.
What is the easiest place to get an auto loan?
The Easiest Auto Loans to Get Online
- Auto Credit Express. 4.9 /5.0 Stars.
- Car.Loan.com Auto Loan. 4.5 /5.0 Stars.
- myAutoloan.com. 4.0 /5.0 Stars.
- Carvana.
- Capital One Auto Finance.
- Credit Acceptance.
- DriveTime.
- LightStream.