Ever wondered what car to buy when on a tight budget? No, it’s simple. The list below will tell you which cars you should buy under each budget range. You will want to get the most out of your money and a car that lasts. Looking in the used market before browsing new cars is a great way to start. You may find a great deal and get more car for your money than trying to find something new.
Fuel-Efficient
To save money on a car, whether new or used, you must choose a fuel-efficient one. A car that gets good gas mileage will save you money at the pump. You can also find cars that have lower insurance rates and maintenance costs. By choosing a budget-friendly car, you can save money on your overall car expenses.
Financing or Used
Another option is to look at what financing is they offer at the dealership. You may be able to purchase a car with no money down and little each month for an extended period of time. If your credit is good, then the better deal you can negotiate. If you choose to go to the used market, check out local dealerships and look locally among personal advertisements. There may be an excellent car someone doesn’t need anymore being sold at a reasonable price since they aren’t adding any of the charges a dealership would.
Seek Assistance
Purchasing a new car for any budget can be overwhelming, let alone a tight budget. Talk to an expert in car purchases, and don’t be afraid to take that person with you when negotiating the deal. Remember that reliability of the car, maintenance cost, and fuel mileage are pretty important details. Some vehicle brands cost large amounts to fix or even go to a specific location for an expensive oil change. Some are low-cost and barely need maintenance.
Checklist for a Car Purchase:
- Vehicle cost (financing, cash, down payment)
- Gas Mileage
- Oil change cost
- Maintenance
- Longevity
- Kelley Blue Book rating
- Car Insurance cost
- Features that are great for you as a driver but also necessary for your family or daily drive.
Below are price ranges and car options for those price ranges:
$5,000-$10,000: A basic first car or for someone looking for something cheap and reliable. This could be a Kia Soul, Chevy Cruze, VW Polo, Ford Fiesta, or Nissan Versa. This price range is great for the used car market. You would be surprised what you can find at a great deal. There are also many new cars at this budget as well.
$10,000-$15,000: The buyer should look for something a little more classy and better equipped in this price range. This could be a Ford Focus, Mini Cooper, Kia Optima, or Toyota Corolla. This budget gives the buyer many reliable options for a great used car or a top new car.
$15,000-$20,000: Upgrading a little, the buyer should get something more upmarket and luxurious. BMW 3 Series, Honda CR-V, Volkswagen Jetta, Mazda Cx-5. Once you get into this budget, you see more of the larger vehicles. This would be a fantastic car in the used market, and in the new market, you would get many of the features you desire. This is a great price range for reliable cars.
$20,000-$25,000: This could be an Audi A4/A6, Hona Ridgeline, Toyota Highlander, Chevrolet Equinox, Nissa Rogue, Honda, Accord, or VW Passat. This price range can offer some great financing. That way, you get a fun new car at a low monthly cost.
$25,000-$30,000: Jeep Wrangler, Chrysler 300, Honda Civic, Honda Hr-V, Kia Seltos, Chevrolet Trailblazer. If you are on a tight budget, don’t be too afraid to look at this price range. There are many great options where you don’t have to pay cash upfront.
$35,000 – $40,000: Toyota Prius, Ford Bronco, Ford Ranger, Nissan Frontier, Subaru Crosstrek. Whether it’s used or new, at a dealership, you may find a large vehicle that fits your and your family’s needs daily. This price range gives you many more options as far as the style of vehicle. Be conscious of gas mileage at this budget and car maintenance costs over time.
If you are more interested in retro styles, then consider our article Underrated Classic Cars!
