If you are on a tight budget, you might want to consider buying cheap used cars under 5000 dollars. At this price range, you can expect to get a car that isn't too old and still has a long life ahead of it. Most of these cars will be sold at auctions where you bid against other buyers. At these auctions, you will find a huge selection of both old and new models. Due to the recent recession, there are many more choices than ever before! Keep in mind that these cars will not be in perfect condition. Some of them will have dents and scratches on the surface. Others might have high mileage and may need minor repairs. Below, I will give you tips on how you can find cheap used cars under 5000 dollars.
Where to Buy Used Cars
Many people ask me: where are the best places to look for used vehicles? Used cars can be a bought from car dealers, auction houses or directly from the owners themselves. I usually tell people to avoid car dealerships because they have a tendency to mark up prices. Car dealerships are good for browsing and seeing the used cars that are available.
My personal favorite place to go hunt for used cars are auto repo auctions. The cars that you find here have been repossessed from their original owners because they failed to make their monthly payments. Here you'll find tons of cheap used cars. You can find these auctions by performing a simple Google search. I personally use Autobidmaster, a site that allows you to search for repossessed cars by location, mileage and condition.
Occasionally, I'll also buy directly from the owner, using sites like Craigslist and eBay. Although it is more difficult to find good deals, I've actually had quite a lot of success. You need to persistent when purchasing a used car directly from an owner. There have been many times where I went to meet the owner in order to see the used car for sale, only to find a dilapidated hunk of metal, totally unfit for driving. It really is a numbers game, and you'll have a higher success rate if you keep trying.
Tips for Buying Used Cars
With a budget of $5000, you can purchase a wide variety of used cars. Usually at this price range, you'll also be able to find used vans, SUVs and small trucks as well. However, you will definitely need to do your research, go out and look for one. This is not an easy task and you probably won't find the car of your dreams on the first try. Remember that looking for used cars is a game of determination and persistence. While there are good deals out there, don't expect it to come find you.
When you find the car you really like, test it and inspect it! There are too many naive customers who will just briefly take a look at a used car and fork over the money. If possible, bring along a mechanic so that he/she can actually take a look at the vehicle and see if there are any major problems. Often times, used cars may need repairs and replacements, which can add extra costs to the initial price. After an initial assessment, ask the seller for a CARFAX report. This will show you a detailed history of the used vehicle and whether or not it has been in any severe accidents and how long it has been on the road.
The next time you go out to find cheap used cars under 5000 dollars, make sure to utilize the tips mentioned above.