Did you know the average price for a new car in July was $48,401? That’s down from $48,424 the previous month.
Spending tens of thousands on a car is a serious financial commitment—and that’s all the more true if you sign a multi-year car loan laden with interest. By the time a five to eight-year auto loan is paid off, you will have forked over way more than the vehicle was ever worth.
There’s nothing worse than making monthly car payments on a car that’s out of commission. And that can happen if it’s totaled in an accident.
Average Salary in the U.S. Not Much Higher Than Average Car Price
The average salary across the U.S. is $63,795. If you’re making around that or less, you should be mindful of how much you spend on a car. One source recommends spending no more than 15% of your monthly take-home salary on a car payment. So, keep that in mind before signing on the dotted line.
Car Loans Can Suck You Dry
Unfortunately, many Americans rely too much on car loans to buy vehicles. LendingTree says the average monthly payment for new cars was $734 in the year’s second quarter. While the tally was less for used car loans, it can still put you in a financial hole. And the last thing you need is a debt albatross around your neck weighing you down.
You Can Get a Good Deal on a Used Vehicle
If you have a small budget but want a nice ride, it makes sense to buy something used. Instead of paying five or six figures for a car, you might get one for four figures. At any rate, buying a used luxury car in good condition can net you a steal of a deal.
Check Out These Options for Inexpensive Rides That’ll Make You Look Rich
The good news is you can buy expensive-looking vehicles without giving up your arm, leg, or firstborn. Here are 11 vehicles that fit the bill.
Chrysler 300
The Chrysler 300‘s last model year was in 2023. It went out with a bang with a 6.4-liter HEMI V8 engine generating 485 horsepower and 475 lb-ft of torque. You can get a better deal on a used 300 by choosing an earlier model year.
KBB says the 2005 Chrysler 300, which had an MSRP of $24,695, now has a starting price of $3,950 on the used car market. If you like big, boxy sedans, the Chrysler 300 might be the one.
Jaguar XJ
While modern Jaguars are sometimes laughably unreliable, that’s not true for some older ones. If you love the brand, want something that won’t break down all the time, and crave a good deal, consider a used model from 2004-2009.
According to an Edmunds page focusing on the 2004 Jaguar XJ Series, 95% of 145 reviews give the car four or five stars. One owner says, “It has been a dream to own and has never let me down. The car is dead reliable, a pleasure to drive, and very quick. The interior is very plush and is resistant to wear and tear.” Edmunds estimates the price for a 2004 model could set you back around $6,077 to $9,822.
Audi A8
When looking for a cool car that won’t cost you a ton, consider the Audi A8. Regarding the 2008 model, KBB says it has up to 450 hp. A luxury sedan with smooth ride characteristics and comfortable handling, the Audi A8 is worth considering. However, it may not be the most reliable luxury car, so don’t skip the pre-purchase inspection. Its resale value is $4,961.
Lexus LS 460
When you get a Lexus LS 460, you get Toyota reliability. The 2007 models feature a 4.6-liter V8 under the hood, generating 380 hp and 367 ft-lbs of torque. “On the road, the 2007 Lexus LS 460 is impressively quiet,” says Edmunds. “Drivers and passengers will find themselves sheathed in a bubble of serenity.” J.D. Power says the average price nowadays is $8,675.
Cadillac CTS
Fancy getting a Cadillac? Well, the Cadillac CTS from 2008-2013 is worth considering. “Overall, the Cadillac offers an excellent ride and handling balance that will give the Europeans a run for their money,” says Edmunds about the 2008 model. “That said, the CTS is larger than its like-priced competitors, however, and with a curb weight of almost 4,000 pounds, lacks the nimbleness of cars like the 3 Series, G35 and IS 350.” It has a 3.6-liter V6 producing 258 hp. KBB says the vehicle has a $4,220 resale value.
Volvo S80
Don’t sleep on the Volvo S80. “With the S80 of 1998, Volvo went a step further and introduced its first high-performance luxury saloon,” says the Volvo Owners’ Club. “Volvo S80 was (and is) unique in some aspects. For the first time in recent years, an in-line six-cylinder engine was installed transversely, combining the unique characteristics of this type of engine with generous interior accommodation resulting from a transverse engine.” Pricing for a used 2001 Volvo S80 starts at $2,572, says KBB.
Lincoln MKZ
Another inexpensive car that looks expensive is the Lincoln MKZ. The 2012 model has a 3.5-liter V6 engine producing 263 hp and 249 ft-lbs of torque and an engine paired with a 6-speed automatic transmission. You can choose between AWD and FWD. Edmunds says owning one will cost you around $12,990 to $13,990
Audi A4 (B8)
The Audi A4 (B8) is a German car renowned for comfort, quality, and value. “The Audi A4 with the B8 codename is definitely a popular used car,” says Different Car Review about the 2008-2015 model years. “And it is understandable because it has numerous advantages like the nice interior, the still modern looking exterior, the very good price…, or the great Quattro 4WD system.”
Buick LaCrosse CXS
A four-door, FWD sedan, the Buick LaCrosse CXS looks more expensive than it actually is. The 2005 model features six-passenger seating, front-wheel-drive, and a 3.6-liter V-6. One owner on Cars.com says, “This car is great, and I only did normal things to fix it. It has 262000 miles and is still going. It has been a great car. I wish I could buy another one.”
Chevrolet Impala
Edmunds says the 2014 Chevrolet Impala is a fully modern vehicle featuring a large, well-constructed cabin. It’s also comfortable, making it a good bet for long-distance trips. Edmunds estimates that the price range for a 2014 Chevy Impala is around $8,975 to $21,590.
“A 2.5-liter four-cylinder engine is standard on all three trim levels of the 2014 Chevrolet Impala,” it notes. “It’s rated at 195 hp and 187 pound-feet of torque. A 3.6-liter V6 rated at 305 hp and 264 lb-ft of torque is optional on the LT and LTZ models.”
Toyota Avalon
You might be surprised to see a Toyota on this list, but the Toyota Avalon makes the cut. One Reddit commentator highly praises it: “Can HIGHLY recommend the 2013-2018 generation. Comfortable, powerful, spacious, NOT a cop magnet, huge trunk. I’ve got the V6 (non hybrid) and average 23-24 mpg. I love this car.”
Meanwhile, Edmunds, which says the 2013 Toyota Avalon costs between $8,103 and $20,990 today, gives the car a reliability rating of 4.5/5.0.
You Don’t Have to Spend a Ton to Get a Nice-Looking Car
You don’t have to go into debt to get a car that’s easy on the eyes. The 11 vehicles mentioned above are examples that will make you look rich minus a hefty price tag that will leave you drowning in debt.
Beauty is in the Eye of the Beholder
What might be a great-looking vehicle to one person might not be to another. But rest assured, many options are less costly than they look. Getting good-quality used models will save you even more money and possibly enhance your ownership experience.
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