Used Cars for Under $5,000 in Los Angeles, CA (2024)

FAQs

How many miles should a $5000 car have? ›

Best Gas Mileage Used Cars Under $5,000

Most cars in this category will have over 100,000 miles under their belts. However, maintenance can greatly extend a vehicle's life span. Talk to the team at our service department about the recommended maintenance schedule for an older vehicle.

However, with a $5,000 budget, you may have to expect higher mileage vehicles, a higher risk of mechanical breakdowns, and possibly a high interest rate.

Autotrader is one of the best used car sites because it's one of the most recognized car buying and selling online auto marketplaces. Its huge volume of listings and advanced search tool make it a go-to place to buy and sell a car.

Aliso Viejo, in southern Orange County, has been named the #1 most affordable city in the state of California in which to buy a car. According to a recent survey by Autolist.com, Aliso Viejo is approximately $1,160 less expensive for buying automobiles than anywhere else in the state.

Many models that were smart choices when they were new still have those same good qualities years later as older, much less expensive used cars. And yes, even used cars under $5,000 can offer high-quality and reliable transportation.

Affordability: One of the primary advantages of purchasing a 10-year-old car is affordability. New cars experience rapid depreciation in their first few years, making older models more budget-friendly. Buyers looking for a cost-effective option may find that a 10-year-old car provides good value for the money.

Consider putting at least $6,000 down on a $30,000 car if you're buying it new or at least $3,000 if you're buying it used. This follows the guidelines of a 20% down payment for a new car or a 10% down payment for a used car.

As described above, buying a car with cash has its pros and cons. If you have the funds, and if avoiding debt is important to you, then paying cash could be a great move. If, however, you need to build your credit, then consider going with a loan instead, particularly if you can get a good interest rate.

It's good practice to make a down payment of at least 20% on a new car (10% for used). A larger down payment can also help you nab a better interest rate. But how much a down payment should be for a car isn't black and white. If you can't afford 10% or 20%, the best down payment is the one you can afford.

CarMax: The Bottom Line. There are more similarities than differences when it comes to buying and selling cars through Carvana or CarMax. In general, you'll likely find a more convenient process when dealing with Carvana and the best price (whether buying or selling) with CarMax.

How many miles is too many for a used car? ›

There's no absolute number of miles that is considered too high for a used car. But consider 200,000 as an upper limit, a threshold where even modern cars begin to succumb to the years of wear and tear.

Since 1926, Kelley Blue Book has been one of the most trusted names in the auto industry. You might say we literally "wrote the book on car values". And today there's no better place to find the value of your current car than KBB.com.

The Honda Fit holds the title for the cheapest Honda car in 2024. With a starting MSRP typically around $18,500, it's a compelling choice for budget-minded car buyers, especially considering its standard features and fuel efficiency.

Data shows that the average cost of a used vehicle nationwide is about the same as the average price in California.

When purchasing a car, it's important to consider which state you buy it in because it affects initial costs, such as taxes, fees, insurance, and warranties. Some of the best states to buy a car in include Florida, Indiana, Maine, and Oregon.

What is considered high mileage on a car? Often, 100,000 miles is considered a cut-off point for used cars because older vehicles often start requiring more expensive and frequent maintenance when mileage exceeds 100,000.

Typically, a conventional vehicle lasts for 200,000 miles. The average automobile age in the United States has increased over the past several decades. Currently, it's around 12 years for a passenger car, according to data from IHS Markit and the federal government.

Picking a Used Car Based on Mileage

If a used vehicle has 70,000 miles on it and is working well, then you can probably use it for a long time without incident. However, if you find a cheap used car with 110,000 miles on it, then you can probably get another five years out of it before running into any major problems.

In general, most modern cars can cross 200,000 miles without any major issues, provided the vehicle is being well-maintained. Considering that an average person drives 10,000-20,000 miles per year, this will account for roughly 15 years of service.