Finding a cheap and used SUV for sale under 5000 is definitely possible to find if you know where to look. Brand new SUVs can cost anywhere from 20,000 dollars to 60,000 dollars. At the low end, you have your compact SUV (like a Honda CR-V) and at the high end you have your luxury vehicles such as Lexus RX and Mercedes M Class. Realize that even a used luxury SUV vehicle is expensive and would be extremely difficult to find for under 5000 dollars. I recommend that you start by looking at used compact SUVs, which are more likely to be found within your price range. Also, keep in mind that a lot of these used SUV will have a lot of mileage and some may even require a few repairs. Below, are a few tips on how you can find used SUVs for sale under $5000.
SUVs For Cheap
With the collapse of the housing market and sky-high unemployment rates, new types of businesses have been booming in recent years. Pawnshops, second-hand shops and bank repos have quietly prospered, while others have had to shut down and file bankruptcy. Nowadays, you can find tons of cheap used SUVs that have been repossessed from an owner who failed to make payments. Moreover, today’s repossessed vehicles are of higher quality due to the terrible economy. If you are looking for SUV vehicles for cheap, this is your lucky day. There are more options and more bang for the buck in today’s repo market than ever before! You can easily find repo banks near you by doing a quick search on the Internet. One site that I used to purchase my used Jeep was AutoTrader.com. The site allows you to punch in the type of vehicle you are looking for, location nearest you, and price range. A lot of the SUVs under 5000 dollars come with a lot of mileage, but that is to be expected. Also, keep in mind that you will rarely find a new model using a repo bank. Most of these SUV models are several years old.
Government and Police Auctions
If you can’t find a SUV model that you like at a repo bank, you can always try to go to your local government or police auto auction to find one under $5000. The vehicles that are sold by these auctions have been repossessed due to missed payments as well as illegal activities. Since these auctions are held only a couple times a year, it is wise to call them up and inquire as soon as possible. Keep in mind that these auctions will not have a wide variety of vehicles, let alone cheap SUVs for sale. However, you would be surprised with how many people show up to these auctions to find a bargain on a used vehicle. Every now and then, you can find a gem at one of these auctions. I suggest you go check them out if you have the time.
Lastly, you should visit your local car dealerships or repair shops and ask if they have any used SUVs for sale. Always remember to bargain if you are purchasing a used vehicle. Often times, car salesmen will mark up a car by more than a 100% of what it’s actually worth. It also helps if you offer to pay in cash and not credit. If the seller gives you a certain price on an used SUV, a good rule of thumb is to slash it in half. Therefore, if you are a good bargainer, you can take home a $10,000 priced used SUV for only $5000. Remember to confidently walk in and speak without hesitation.
Other Places to Look
If all the tips above have failed you, I suggest checking out eBay or Craigslist as a last resort. Although it’s difficult to find a used SUV under 5000 dollars on these sites, it doesn’t hurt to check them out. Go to eBay.com and type in the term, used SUV and make sure to put in the appropriate price range. Place a low bid and see what happens. Sometimes, you can find great deals on Craigslist. Some people on this site are desperate to sell off their used vehicles as quickly as possible. If you are lucky, you may find yourself with a used SUV under 5000 dollars.