Best Used Cars For Under $5,000

Whether you’re scouting a deal or looking to keep costs low, there comes a time when buying a used car is the only sensible option. The good news is buying used is the most practical, money-saving way to buy. In fact, there are several used vehicles on the market that retail under 10k. We’ve gone one step further by narrowing down the best used cars to shop for with a $5,000 budget. You don’t have to stress about quality or gas mileage, these models are some of the most reliable automobiles still being driven today.

Which used cars are the best to buy under 5K

Used cars come with their own set of baggage. From high mileage, warn interiors, and outdated body styles, it may deter some buyers from taking a chance on these outdated trims. However, when budget is your top priority, we want our readers to have the best knowledge of where to turn to. When you start your hunt on Cars.com or Autotrader, remember to keep the following makes and models in mind.

Honda Accord

When you need reliability, Honda engineering is hard to turn down. The Honda Accord is one of our favorite go-to vehicles for buyers on a budget. While offering a smooth ride, spacious interior, and reasonable fuel economy, it has everything you need to make it from point A to point B. Older models will cost you anywhere from $4,500 to $5,000. Some prices roar as low as $3,500, depending on the gas mileage and condition.

Toyota Sequoia

The Toyota Sequoia was a sought-after SUV in the early 2000’s. At the time, there were a limited number of sport utility vehicles on the road, making this an attractive buy for many families or off-roading enthusiasts . For many, it’s a surprise the Sequoia is even still in existence. Many automotive critics consistently refer to it as a dinosaur in the automotive world. If you don’t mind the higher gas mileage or weathered interiors, you can find yourself a used Toyota Sequoia at a low price. Some might even agree the earlier body style is much more appeasing than the 2021 model.

Ford Ranger

The Ford Ranger remains an enigma in the truck market. Most truck buyers are looking for heavy towing capacity, large beds, and comfort. The Ford Ranger doesn’t quite deliver in that regard, but it is still a great used car option. For savvy truck buyers, the Ford Ranger will give you many of the qualities you’re looking for without the major price tag of an old Ford F-150. It might take some searching, but snagging an older Ford Ranger is an excellent choice for buyers with a budget under 5k.

BMW 5-Series Wagon

Luxury sedans make some of the best used car options on the market. With high depreciation, used car buyers are at an advantage when it comes to owning luxury makes and models. The BMW 5-Series Wagon is an unexpected choice, but its often well-cared for, in prime condition, and includes some of the nicer amenities that luxury retailers offer. If you’ve always dreamed of owning a BMW but couldn’t withstand the expensive price tag, the 5-Series Wagon will do you just fine.

Where to get your sights on the best used cars

We recommend starting your search online. This helps drivers pin down what makes and models fall under their target price range. However, the best way to judge whether a used car is worth buying or not is by visiting your local used car dealerships. While pictures may appear great online, you’ll never know the true condition of a vehicle unless you see it in person. You’ll also have to be weary of hidden fees, especially at independently owned dealers, because you don’t want your $5,000 budget turning into 7 or 8 by the end of the deal.Even more, you don’t want to be deceived by a bad deal. And if those options still leave you vehicle-less, give car auctions a try.

We hope these recommendations serve you well on your used car hunt this year! For more information regarding used car buying, check out our list of the best used car websites for 2021.