What You Can Drive for $20,000

2009 Chrysler 300 LX with 17,000 miles (factory warranty expires at 36,000 miles)

 

2008 Nissan Maxima SE with 55,000 miles (factory warranty expired)

2007 Lexus ES 350 with 63,000 miles (factory warranty expired)

2007 Volvo XC90 with 24,000 miles (factory warranty expires at 50,000 miles)

2010 MINI Cooper with no miles (brand spanking new) includes a 4-year or 50,000 mile warranty

If you're in the market for a ride and got $20,000 to spend, these vehicles could be in your price range. However, before closing the deal, here are a few questions you need to ask: Should you buy a new or used? Is a warranty important? While its true, that in many cases, buying a used vehicle allows one to take advantage of the depreciating cost you forgo when buying new, it also means it will cost you more to finance a pre-owned vehicle too, unless you secure low-interest financing from a credit union. Just imagine what you can buy if you purchased a high-mileage 2006 vehicle?

Pricing Sources: Searching Used Car and Dealer Websites