Buying your first used car is an exciting milestone, but it can also feel overwhelming with so many options to choose from. The used car market, however, offers great opportunities if you're a first-time buyer looking to make a smart investment. According to recent data, 40% of car shoppers in 2024 exclusively considered a used vehicle, reflecting the growing popularity of preowned vehicles among budget-conscious buyers. With the average price of a new car reaching $48,397 in 2024, used vehicles provide an attractive option if you're a first-time buyer seeking reliable transportation without breaking the bank.
In this article, our team at Auto One in Lancaster, Pennsylvania, shares expert advice on the best used cars for first-time buyers, along with valuable tips for navigating the process of purchasing your first preowned vehicle. Keep reading to learn more.
Who Is a First-Time Buyer?
First-time car buyers typically include recent graduates, young professionals, and individuals looking to establish their independence through car ownership. These buyers often prioritize affordability, reliability, and safety features when selecting their vehicles. Many set a budget before visiting dealerships and show a strong preference for competitive financing options that fit their financial situation. The most successful first-time buyers take time to understand the various financing options available and ensure they're making a choice that aligns with their long-term financial goals.
Best First-Time Buyer Cars
Hyundai Sonata on Road by Hyundai Motor Group is licensed with Pexels License
When searching for the best used cars for first-time buyers, it's important to focus on key factors such as reliability, safety, and value. Consumer reports consistently rank Lexus, Toyota, and Mazda as the top brands for reliability. If you've got a budget of under $20,000, the 2021 Toyota Corolla Hybrid, the 2019 Toyota RAV4 Hybrid, and the 2017 Toyota Tacoma are highly recommended. The Toyota Prius offers outstanding gas mileage and a proven track record of longevity, making it an excellent choice if you're seeking to save on both the purchase price and ongoing costs.
If you're a new driver, the Honda Civic, Toyota Corolla, and Mazda3 are stand-out beginner-friendly cars, offering a blend of excellent features, strong safety ratings, and proven reliability. If you're looking for a safe and practical SUV, the Honda CR-V and Toyota RAV4 are highly recommended, while the Volkswagen Jetta and the Hyundai SONATA benefit from strong warranties and affordable maintenance costs.
Things First-Time Buyers Should Look Out For
Before making a purchase, we advise obtaining a vehicle history report through a service such as CARFAX to understand the car's condition beyond its appearance. The report will include important information about odometer readings, damage history, title information, and maintenance records. We also highly recommend getting a professional prepurchase inspection to identify any potential issues. During the test-drive, carefully evaluate the vehicle's performance. Listen for any unusual sounds or vibrations and ensure all features are functioning properly.
Financing Options for First-Time Buyers
Financial experts recommend keeping your car-related expenses — such as loan payments, insurance, and maintenance costs — below 20% of your net income to ensure sustainable ownership. Therefore, as a first-time car buyer, it's important to understand your financing options before making a purchase. Many lenders offer special programs designed specifically for first-time buyers, including credit-builder programs and exclusive incentives for recent graduates.
Some available financing options include:
- Traditional bank loans
- Credit union financing
- Dealership financing
- Online lenders
- First-time buyer programs
- Cosigner options
When seeking financing, be sure to prepare all the necessary documentation, such as proof of income, residency, and identity. Some programs may offer benefits such as rate reductions after a year of on-time payments or for setting up a direct deposit. Additionally, having a cosigner with good credit can significantly improve your approval chances and help you secure better interest rates. Consider exploring multiple lenders and preapproval options to find the most favorable terms for your situation.
Your Path to Car Ownership With AutoOne
At AutoOne, we have an expansive online inventory of used cars, including many vehicles under $15,000, which are perfect for first-time buyers. We also offer certified preowned vehicles, each thoroughly inspected and backed by extended warranties for added peace of mind. We can help arrange a test-drive of your potential purchase, whether that's a comfortable commuter, such as the Hyundai SONATA or Kia Sorento, or a reliable and spacious vehicle, such as the Ford Fusion or Chevrolet Equinox. Contact us today to find out more, and let us help you find your perfect match.