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How much should I spend on a reliable used car?
Auto experts say the lowest price for a reliable used car is about $2,500. But they’re quick to note that every additional $1,000 in your budget will allow you to get a newer car that’s been driven fewer miles.
What costs do I need to consider when buying a used car?
The hidden costs of buying a used car
- The Budget Isn’t All That it Seems. Many times, new buyers get tunnel vision when it comes to buying a used car.
- The Down Payment.
- Taxes, Title, and Registration Fees.
- Dealership Fees.
- Insurance and Maintenance.
- Fuel and Parking.
- The Carvana Difference.
How much is too much to spend on used car?
But how much should you spend on a used car? As a good rule of thumb, you should spend no more than 20\% of your annual take-home pay on a used car. For example, if you make $50,000 per year (after taxes), then you should plan to spend $10,000 or less on a used car.
How many miles is good for a used car?
As a general rule, you should assume that the average car owner puts 12,000 miles on a car each year. To determine whether a car has reasonable mileage, you can simply multiply 12,000 by its age. That means good mileage for a car that’s 5 years old is 60,000.
What kind of car should I get for 10k?
Best Used Cars That Are Under $10,000
- Kia Soul. The Kia Soul has a fun, boxy silhouette that immediately stands out from other hatchbacks.
- Honda Accord.
- Ford Focus.
- Hyundai Elantra.
- Mazda Mazda3.
- Toyota Avalon.
- Honda Fit.
- Toyota Prius.
How much does a decent used car cost Canada?
Many of us simply can’t afford to or don’t want to spend $30,000 on a vehicle. The average price of a used car in Canada is half of this, at about $13,000.
Is it possible to buy a used car for under $10k?
Finding a used car for less than $10,000 is relatively easy. Finding a good one that’s reliable enough not to leave you stranded or empty your wallet with ever more costly repairs is more of a challenge.
How reliable are used minivans under $10k?
It has excellent safety scores for its era and a perfect predicted reliability rating. The only minivan to make this list of high-reliability used vehicles under $10,000 is the 2010 Toyota Sienna. Depending on the interior layout you choose, the Sienna can seat up to eight comfortably.
Which is the best Lexus to buy under 10k?
Best luxury car under $10,000 – BMW E90 3 Series There’s an obvious safe answer to this question, which is to go and buy whichever Lexus most appeals to you, and is available at your price. A Lexus is, of course, a Toyota in a fancy dress, and that means it’s reliable, built to last and thus a very wise second-hand buy.
Why use our used car rankings and reviews?
Finding a used vehicle with outstanding quality, a history of excellent reviews, low cost of ownership, good safety scores, and a price tag less than $10,000 is challenging. That’s where our used car rankings and reviews come in. They’ll help you find a used car that won’t break the bank, either when you buy it or as you own it.