Some people may be looking for a used car for a new driver, as an extra vehicle or simply don't want the hassle of a long-term and expensive loan. For those on a limited budget, there are several options for under $5,000. Reliability, cost of repairs and gas mileage are the biggest factors to consider within this price range. The idea is to find a car with the lowest cost of ownership and with the lowest possible mileage for its age without compromising overall quality.
The Honda Accord has been thought of as a tough, reliable sedan for many years now. The reason why there are so many on the road is because they are built to last and repairs are cheap. Most Accords at this price range have reliable v6 engines that get decent gas mileage and are a logical solution for a small family.
The Nissan Sentra is a smaller sedan that comes equipped on most models with a four-cylinder engine that is great on gas. If you don't mind the smaller vehicle, it provides the buyer with the chance of scoring a lower mileage vehicle that doesn't have too many years on the road.
In the same class as the Sentra, the Toyota Corolla can provide buyers with a lot of "bang for their buck" and has a slightly roomier interior than the Sentra. With enough searching, you can find a good value for under 80,000 miles. The 1.8 liter v4 engine is a gas saver as well. Toyota cars are well known for going past 200,000 miles if well maintained.
Reliability can come with room for six as well. The Nissan Quest is only suggested if you need the extra space, whether it be for a large family, small construction company or as a delivery car. Expect mileage to be over 130,000 in this price range. The Quest comes with a 3.3l v6 engine that is not the best on gas, but can provide a cheaper alternative to buying an SUV or commercial van.
The Honda Civic rounds out the list because it is a smaller, sportier version of the more expensive Accord. With nearly identical engine components, the Civic is a smaller vehicle that makes for better gas mileage and has a well known, low cost of ownership. The car typically requires less repair than other cars produced during this time range. Either a four-door Civic sedan or the two-door coupe can be purchased easily for under $5,000.
