You don’t have to spend a mint to get a classy looking ride. See for yourself.
Here’s a stat that may make you wince, especially if you’re in the market for a car. The average price for a new vehicle in the U.S. is $32,086. Sadly, according to a report by Bankrate.com, the average American can’t afford one.
So why go into debt when you can purchase a good looking and dependable vehicle for a fraction of that amount? The car experts at Kelly Blue Book created a new list of the top 10 most affordable used cars under $8,000 for 2014.
Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s KBB.com says, “Car shoppers in the market for a used vehicle in 2014 are in luck, because as the quality of new cars continues to improve, so does the pool of used cars.”
KBB.com’s 10 Best Used Cars Under $8,000 for 2014 are:
- 2007 Honda Civic
- 2011 Hyundai Accent
- 2005 Honda Accord
- 2005 Toyota Camry
- 2007 Mazda3
- 2007 Chevrolet Silverado 1500
- 2005 Honda Pilot
- 2004 Toyota Prius
- 2007 Ford Escape
- 2005 Volvo S60
The expert editors at KBB.com Values(ed these 10 standouts “based on a variety of factors including reputation and desirability — including one that starts just under $5,000.”
Gary Herman, President of Consolidated Credit, believes that buying a comfortable and reliable used car is the way to go for people trying to save money and stick to a budget…
“There is no reason to go into debt because you want to drive the high-end cars that your friends or co-workers might drive. That’s called “keeping up with the Joneses” and it can easily lead to financial distress. Paying your bills on time and sticking to your budget is much more important – and it’s the smart thing to do, especially when you have other responsibilities to take care of like paying your mortgage or rent and putting food on the table.”
If you’re in the market for a new car, make sure to evaluate your budget to see how much you can afford. If you are already carrying a large debt load, consider taking steps to eliminate some credit card debt before you buy. This can help you avoid financial distress.