Quality Cars for $16,000 or Less. Yes, They do Exist

During our lifetime, major expenses usually end up being buying a house and buying a car. We assume that most of us don't buy (or can't afford) a new house once every five or 10 years or so.

But we may find ourselves buying a car once every three, five, eight years. Why? Simply because the car can't take the wear and tear of daily commuting if you end up having to drive a lot. Then there is the problem that conditions change -- that is, the family grows or your lifestyle changes for some reason, and the car you have just doesn't provide what you need anymore.

A car is not a good investment. As soon as you drive it off the dealers lot, it depreciates in value and just isn't worth what you just got finished paying for it.

So the answer for many is to buy an inexpensive car.  You may or may not be surprised that there is a fairly good variety of inexpensive cars on the market that fall in the range of about $16,000 and less. And, if you buy a car that is least expensive to actually own, well that's just icing on the cake.

In a world that seems to love lists, here's the 10 cars to own that won't break your bankaccount but give plenty back in quality:

1. Toyota Yaris: Average Starting MSRP: $12,625
2. Honda Fit: Average Starting MSRP: $14,910
3. Toyota Corolla: Average Starting MSRP: $15,449
   
4. Nissan Versa: Average Starting MSRP: $13,950
5. Chevrolet Aveo: Average Starting MSRP: $11,844
6. Ford Focus: Average Starting MSRP: $15,752
7. Toyota Matrix: Average Starting MSRP: $16,558
8. Kia Rio: Average Starting MSRP: $13,571
9. Hyundai Accent: Average Starting MSRP: $12,865
10. Pontiac Vibe: Average Starting MSRP: $16,760

via MSNBC