Discover 5 Most Affordable Used Cars for the Average American

Nov 27, 2023 02:28 AM EST

Honda Civic — (Photo : Pixabay/Domenik2212)

In 2023, finding an affordable and reliable used car can be a top priority for the average American. The top 5 budget-friendly used cars ensure that everyone can drive without breaking the wallet. Discover your perfect ride with this line up.

Budget Consideration

The used car market offers purchasers a fantastic opportunity as 2023 ends. However, navigating this field calls for the wisdom of experts. As stated in GOBankingRates report, it consulted industry specialists to determine the ideal percentage of one's income that should be allocated to a car purchase, identify the affordable range for the average American, and recommend noteworthy used car options for prospective buyers.

The CFR Classic director suggests that when evaluating affordable used cars, it's wise to cap monthly car costs at 10%-15% of your income, encompassing various expenses like insurance, fuel, and maintenance. This technique encourages well-rounded, financially prudent car ownership.

Forbes Wheels suggests that a budget of $15,000 can open doors to Certified Pre-Owned (CPO) vehicles, offering added peace of mind with extended manufacturer or dealer-backed warranties.

Notably, car companies like Honda have expanded their Certified Pre-Owned (CPO) programs to include older models.

Buyers can now choose safer cars. This information can assist used automobile purchasers choose wisely and receive a fair bargain before year's end.

Best Value: Car in 2023

The first among this budget friendly used cars is Toyota Corolla. Honda Civic, Mazda, and Chevrolet are on the list. Buyers can also avail of affordable used cars including more expensive brands such as Ford and Mercedez-Benz.

1. Toyota Corolla

According a report in GOBankingRates, budget-friendly and affordable options like used Toyota Corolla or Honda Civic cars are available within the price range of $16,000 to $23,000, depending on their condition and mileage.

2. Honda Civic

A Honda Civic model between 2010 - 2015 costs around $8,000 to a little over $13,000. This vehicle is an excellent option for someone on a budget looking for a dependable used car.

Moreover, Forbes Wheels stated that while 2018 and newer models, including the Type R and Si variants, may exceed the $15,000 mark when in good condition, earlier versions of the Civic sedan, hatch, and coupe from the same generation offer excellent value as used car options.

3. Ford Focus

GOBankingRates also shared that recent models costs between $9,000 to $18,000. While listings in True Car revealed that prices start from around $ 5,000 for a 2014 model. One may also find a Ford Focus 2017 model priced at around $28,000.

4. Toyota Camry

Furthermore, GOBankingRates shared one expert's assessment. As stated, Toyota Camry 2007-2011 models emerged as a viable option among the most affordable used cars.
He mentioned that the engine's reputation for reliability and durability is solid, and you can usually find these used models in the price range of $7,000 to $9,000. Another, statement shared that Toyota Camry 2012-2015 model are budget-friendly at $8,000 to $12,000. This price range makes it one of the most affordable used cars.

5. Hyundai Elantra

True Car listings show Hyundai Elantra's used car model 2019 costs almost $16,000. While a 2020 model is $ 16,598. Hyundai Elantra 2023 can cost as much as $ 23,514.

Aside from these 5 brands, other most affordable used cars include brands such as Mazda, and Chevrolet. For Chevrolet, there are Impala and Vault models. Mazda 3 and Mazda 6 are other most affordable used car options. One may also choose from more expensive cars such as Ford and Mercedes-Benz.