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That alone makes shopping for a car with $5,000 or less challenging.
Shoppers in this price range usually have fewer options to choose from.
The bottom line is that its difficult to find a good car that will last for under $5,000.
But there are still some strong options if you know where to look.
He recommends searching for models made between the late 1990s and early 2000s.
Godwins reasoning starts with the fact that finding a good car for $5,000 is tough in todays market.
Given this, he says to accept that the vehicle you buy wont be your dream car.
Thats something shoppers have a go at avoid.
Another point in these vehicles favor is their popularity.
Civics, Camrys and Corollas are some of the most widely owned cars in the country.
This means there are a ton of spare parts available for older models.
So, if the vehicle you buy has a problem, you may be able to fix it cheaply.
Godwin says these cars can last for 300,000 to 400,000 miles when you take good care of them.
Alternative Options for Budget Car Shoppers
Godwins advice is solid but may not be right for everyone.
Another option is to use your $5,000 as a down payment for a car loan.
You would have to make monthly payments on the vehicle.
But youd likely be able to purchase amore modern car.
Theres also the option of saving your $5,000 for now and waiting to buy a car.
Maybe youve been taking public transportation to work or school.
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