Q:

What are some tips for finding used cars under $5000?

A:

Quick Answer

When searching for a used car at an inexpensive price, pay attention to cars that are for sale by owner, do careful research to determine the exact car that is desired before commencing a search, and use bargaining and haggling tactics to get a good deal. While it may be tempting to give in and purchase a used car for more than $5,000, using these tips can help ensure that the lowest price possible is achieved.

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Full Answer

When looking for an inexpensive used car, start with the basics first by deciding exactly what kind of car is desired, including the color, accessories and options packages. Once these details are decided upon, search for a vehicle both through dealerships and through websites and newspapers that list cars for sale by owner. Owners selling their cars will often be more open to negotiation and have less at stake when selling the car than dealerships do, which can lead to a better deal.

When negotiating the final price of the car, have cash ready. This negotiation tactic can be a good motivator for finalizing a sale, since it shows that the buyer is ready to purchase the vehicle immediately. If an acceptable price cannot be agreed upon, do not hesitate to walk away. If a buyer is desperate to sell a vehicle, showing them a willingness to walk away can sway their opinion and may result in a sale at the desired price.

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