Buy a quality used family SUV on a limited budget！

The benefits of buying an affordable used car

Buying an affordable used car has many advantages that can make your experience financially rewarding and practical. Here are some of the main benefits of choosing a used car priced at about $10,000:

1. Cost savings

One of the main reasons buyers choose a used car is to save on costs. Used cars are much cheaper than new cars, enabling buyers to get more value. When buying a used car, the initial price is much lower, which means a smaller down payment, a reduced loan amount, or even the option to pay in full without taking out a loan. The lower purchase cost is especially attractive to people on a limited budget who still need a good car.

In addition to the purchase price, there are other ways to save money on used cars:

Lower taxes: Sales taxes and registration fees are usually based on the price of the car, so choosing a used car can mean a lower overall cost in terms of taxes and fees.

Lower financing costs: Because used cars are cheaper, buyers may be able to take out smaller loans with less interest, ultimately lowering their long-term costs.

2. Depreciation advantage

New cars depreciate rapidly, with some models losing as much as 20-30% of their value within the first year. This rapid depreciation means that the car you buy today will be worth significantly less in just a few months. Used cars, on the other hand, have experienced the most significant portion of depreciation.

By purchasing a used car, buyers avoid an initial decline in value and experience slower depreciation in the future. This slower depreciation helps buyers retain more of the car's value over time, which can be beneficial if they decide to sell or trade in the future.

3. You get great value for money

Used cars offer excellent value for money and are often equipped with features and reliability that are priced higher in new cars. For budgets under $5,000 and $10,000, buyers can find vehicles equipped with safety features, comfort options, and practical technologies that make them both practical and pleasant to use. These cars typically offer the same level of practicality and performance as newer models but at a much lower price.

Also, in terms of features, used cars are generally less expensive to maintain. Many used cars have already had major repairs or part replacements, which means they are less likely to require expensive repairs after purchase. The money saved in repairs and ongoing maintenance can add up significantly over time, making used cars an economic choice for buyers.

4. Lower insurance costs

Used cars usually cost less to insure than brand-new cars. New cars usually have higher insurance premiums because they are worth more and cost more to repair or replace if an accident occurs. In contrast, insurance for used cars is usually more affordable and helps buyers save on monthly expenses. By choosing an affordable used car, buyers can enjoy lower insurance premiums, making it easier for them to cope with ongoing costs.

5. Wide selection of reliable vehicles

In the price range below $10,000, there is a wide variety of used cars to choose from, offering options to suit every need and preference. Whether you're looking for a fuel-efficient compact, a comfortable family car, or a reliable SUV, the used car market offers a wide range of brands, models, and features. This variety means that buyers can find the perfect vehicle to meet their needs and budget.

In addition, many used cars are still in good condition and have many years of useful life. With careful research and inspection, buyers can find vehicles that are in good condition and affordable, ensuring they get the most value for their money.

4 used SUVs worth buying

In the United States, there are fewer used SUVs that are around 5 years old (2018-2019) and cost less than $10,000, because the used car market is still expensive, especially for reliable SUVs. However, there are still a few models that might fit this budget in used car markets, private transactions (e.g. Facebook Marketplace, Craigslist), auction houses, and more. Here are a few recommended SUVs that are cheaper, relatively reliable, and have low maintenance costs:

1. 2018 Nissan Rogue Sport (Nissan Rogue Sport)

Compact SUV, fuel economy (MPG 25-32)

The interior space is slightly smaller than the regular Rogue, but it still fits the needs of a family

Cheap and easy to maintain, some models come with Apple CarPlay

2.2018-2019 Chevrolet Trax (Chevrolet Trax)

1.4L turbocharged engine with moderate power and good fuel economy (MPG 24-31)

Small body, easy to park, suitable for city driving

The interior is basic, but some models come with CarPlay/Android Auto

3.2018-2019 Ford EcoSport (Ford EcoSport)

Subcompact SUV for budget buyers

1.0T or 2.0L engine, AWD version optional

The trunk has less space, but the seats are foldable and practical

4.2018-2019 Mitsubishi Outlander Sport (Mitsubishi Outlander Sport)

2.0L or 2.4L engine, full power, some models with all-wheel-drive (AWD)

Reliability is average, but maintenance costs are low

The interior has a strong plastic feel, but the basic functions are complete

rank of some used SUVs

In the past year, SUVs accounted for 65 spots on the list of the 100 most popular one - to five-year-old used car models in the United States, making them the most popular vehicle in the used car market. Among the most popular SUVs, the Chevrolet Equinox topped the list, followed by the Nissan Rogue (No. 7), Ford Explorer (No. 8), and Toyota RAV4 (No. 9).(data from www.census.gov)

Let's see the part of the rank of these SUVs:

Ranked | models | Vehicle type | as a percentage of 1 to 5-year-old used car sales

4 | Chevrolet Equinox | SUV | 1.8%

7 | Nissan Rogue | SUV | 1.6%

8 | Ford Explorer | SUV | 1.6%

9 | Toyota RAV4 | SUV | 1.6%

12 | Honda CR-V | SUV | 1.3%

13 | Jeep Grand Cherokee | SUV | 1.3%

15 | Ford Escape | SUV | 1.2%

17 | Toyota Highlander | SUV | 1.1%

19 | Mazda CX-5 | SUV | 1.0%

21 | Jeep Cherokee | SUV | 0.9%

22 | Ford Edge | SUV | 0.9%

23 | Jeep Compass | SUV | 0.9%

24 | Toyota 4Runner | SUV | 0.9%

26 | Hyundai Tucson | SUV | 0.9%

27 | Jeep Traverse | SUV | 0.8%

Suggestion

If you want to own a reliable SUV priced under $10,000 for your family, then you can try:

1. Expand your search (consider 2016-2017 models)

2. Focus on private sellers (private deals are usually cheaper than dealerships)

3. Consider high-mileage but well-maintained vehicles (e.g., Nissan Rogue Sport, Mitsubishi Outlander Sport within 100,000 miles)

4. Keep an eye out for auctions and discount sources.