Buying a Car Under $10,000: What to Look For

Buying a used car is a great way to get a quality and stylish car that has the features you want and that offers a safe and stylish ride without costing you an arm and a leg. If you are a parent with a new driver, buying a used car is a great option for a starter car that will be more affordable to insure and that won’t set you back too much if it’s involved in an accident. Used cars are great choices for second cars, for when you’re on a budget, or just for a more eco-friendly option.

To get the best deal on a used car, you need to know what you’re looking for and you need to shop at a reputable dealership. Otherwise, you could overpay or end up with a lemon that you spend more money fixing than driving.

Here are a few guidelines that can help you find the best value on a used car under $10,000:

Find a Balance of Age and Mileage

There are two ways to figure out how much life a car might have left in it: Age and mileage. If the car is young, it is expected to have a long life ahead of it. Yet if the car has twice as many miles on it than it should at its age, it will have a dramatically shorter life. Likewise, if a car only has 50,000 miles on it, you might think there is a lot of life yet. But if the car is already 15 years old, you’re looking at less time with that vehicle.

You really need to find the sweet spot that’s the right balance between the age of the vehicle and the mileage it has on it. You can get really technical about it by looking at the exact depreciation of the specific make and model by year and then comparing it to the age, and then doing the same for the mileage and comparing the two. But, typically, you can get a good feel for it through your own experience and the experiences reported by other drivers (which you can look up online).

Check for Complaints

You never know how a car is going to perform until you start driving it. That’s the upside of buying a used car. The model will have been out for years, which means that thousands of people have had the chance to drive it and give feedback on what it was like. You’ll find plenty of information about just about any make and model from any year online.

Bad news travels fast, so if there are problems with a particular vehicle, you will find out about it quickly online. Check out sites like carcomplaints.com to learn about things like car using up too much, steering wheel locks failing, clicking noises in the drive train, or cracks in the dashboard. If you find that a car is prone to cosmetic problems, like paint peeling prematurely, you might not be as bothered as if you find out that a car’s engine is known to fail early. It’s important to have all the information, though, so that you can make the right decision.

Search for Active and Past Recalls

When something becomes a big enough problem with a vehicle, the manufacturer will issue a recall. Used cars have a few years under their belt, which provides plenty of opportunity for a recall to be issued, unlike with a new car. Before you buy anything, you should check to see if any recalls have been issued for the vehicle.

If you find an old recall, you’ll want to make sure that the vehicle was repaired or that you still have the opportunity to take it back for those repairs. If you find a current recall, you will have some leverage with the dealership to get the repairs made and maybe even knock a little off the sticker price. Again, knowledge is power, and you need all the available information to make the best choice of vehicle and to get the best deal.

Check the Vehicle History Report

Individual sellers and shady dealerships are likely to say anything to try to sell a car. They’ll tell you it runs perfectly, has never had a problem, and has never been in an accident – even if the truth is the complete opposite. Shopping at a reputable dealership will ensure that you get the truth, but so will pulling the history report for the vehicle.

A Carfax history report will show you information like how many people have owned the vehicle (and who), whether the vehicle has been in any accidents, and what service the vehicle has received. This information is tracked through the vehicle’s identification number and its mileage. If you find a car that has been carefully maintained or that has had few owners, you’ve likely found a good investment. That’s a vehicle that has been well cared for, and it will have a longer life as a result. Finding a vehicle that has been in an accident or that has a few other marks against it on the vehicle report isn’t necessarily a deal breaker, but you should weigh that information against the other benefits of the car, including the price.

A used car can last you just as long as some new cars – longer, in some cases. But you have to put in a little more research when shopping for a used car compared to what you would do for a new car. You have to make sure that the car has proven itself over the years, and you have to make sure that the previous owners treated it well.

Identify a few models that you like before you start shopping, or head down to your local used car dealership to find some great options and then do your research. Your work will pay off when you’re driving off the lot with a reliable, stylish, and affordable vehicle.