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Is It Worth Investing in a $10,000 or Less Vehicle?

Many times you hear the expression, new is better than old. But is that always the case when it comes to car buying? Admittedly, today’s standard of safety has given us enough reason to want to buy new. In fact, the NHTSA confirms newer cars are safer thanks to a combination of in-depth research, crash test data, and improved engineering. While this adage may hold true in terms of safety, it doesn’t necessarily mean you’re making the better deal in regards to money.

When it comes to car buying, in general, there are several factors you need to consider. And lately, reliability has been at the top of our list as soaring MSRPs have taken over the market. New cars may come equipped with state-of-the-art technologies and fun-to-explore features, yet the newness does not guarantee you’ll be driving the most reliable car available. In some instances, the more reliable vehicle is the one with thousands of miles already logged on its odometer.

If you’re wondering: Is it worth investing in an older model at low cost? We’ve got your answer here!

Is it worth investing in a $10,000 car?

The reality of the market these days is as simple as this: it’s expensive! It doesn’t matter where you reside in the U.S., the car market is plagued by low inventory which yields higher price tags. Any new car shopper who walks onto a car lot in 2023 can expect to pay top dollar right from the get-go. There are no deals. There are very few incentives. You get what you get, and hope to get to lucky.

When you’re paying over MSRP to drive a vehicle you “kind of love” for a few years, it doesn’t quite make sense to invest so much money. Because of this, we’re seeing a number of car shoppers consider an entirely new approach to driving. Some might even say it’s the most sensible option with budgeting in mind. Instead of overpaying for something new, drivers are seeking out the most affordable and reliable vehicles from the used car market.

Rather than paying $10,000 to get behind the wheel of something new, some savvy drivers are investing that same amount in a vehicle that already has a proven track record. Not only does this leave you without a car loan, it gives you the freedom to drive something in mint condition until the auto market bounces back from a lengthy stint of microchip shortages, production delays, and high pricing.

Best used cars worth investing in

If the idea of spending your down payment on something more tangible intrigues you, then this car buying approach may just be the right move. The good thing about spending $10,000 or less on a vehicle is the flexibility it affords you. Forget getting tied down with month-to-month payments. Anytime you want to sell the vehicle you drive, you have the financial ability to make changes in any direction.

Ultimately, to guide our readers towards the best used and affordable models available, we did some research on the top five $10,000 or less vehicles:

  • Kia Soul
  • Nissan Leaf
  • Toyota Prius
  • Hyundai Elantra
  • Subaru Outback

Overall, model years will range between 2010-2015 and can be found available on several online retailers and car lots across the nation.

Making the right decision for you

Though older models don’t always come stacked with fancy luxuries, many do provide a reliable drive. To save money during these high-cost times, consider exploring a vehicle for $10,000 or less. Even if you drive it for a few years or so, you’ll be able to keep monthly expenses down and that means a considerable amount in 2023.

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Michaella Malone
Michaella Malone is a content specialist and full-time freelancer with 5+ years of experience working with small businesses on online platforms. She is a graduate of Florida State University (Go Noles!) and avid traveller, having visited over 25 countries and counting. In addition to blogging, ghostwriting, and social media content, she has contributed to the development of English as a Second Language (ESL) curriculums for international programs.

    1 Comment

    1. I recently purchased a vehicle and the market was horrifyingly high. Many vehicles are still holding their value, some at an even higher price than newer vehicles. Very useful information for future car buyers.

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