How To Buy The Best Car Under $500

Recently, used automobiles have become a popular choice. But, used cars can be something of a hassle. You need to conduct your research and weigh the dangers of buying an inexpensive used automobile.

There are a few things to take into account while seeking advice on how to purchase the greatest vehicles, even on a tight budget. Location, perseverance, talent, and a little bit of luck are a few of these.

So, are you desperately in need of a vehicle, a car especially, but you’ve only got $500? In this post, we’ll look at ways to stretch your money when purchasing used cars, without becoming stuck with ridiculous rust buckets.

Where to find the best cars under $500

Finding a car under $500 might be challenging, especially if you don’t know where to look. The best locations to find automobiles for under $500 are listed below.

• Online marketplaces

Through internet marketplaces, you may locate a variety of vehicles being sold by individual sellers and car dealers. Listings often include comprehensive details on the car, EpicVin reports, pictures, and the seller’s contact information. 

Used Vehicle Lots

Owners of used car lots frequently attend auctions where they may purchase older, less desirable vehicles for less than $500. Even though they won’t spend much on repairing or reconditioning these cheap cars, if they buy one for $300, there’s a good chance they’ll sell it to you for $500. Before making a purchase, examine the title and ask questions.

• Craigslist

Through its database, Craigslist makes it possible to look for all kinds of automobiles. You must first filter the results by location. Click on “cars or trucks” under “for sale” to filter the results based on your preferences. Then you may filter based on pricing.

• Vehicle Junkyards

Auto salvage yards are fantastic places to purchase inexpensive hubcaps and wheels, but the proprietors of these yards sometimes have cheap vehicles as well. Some of the cars you locate could not be operating at all, while others might need repairs. But if you’re a handyman, a trip to the junkyard might turn up some genuine treasures. Make sure the owner of the junkyard has a proper title to sell you the automobile before you tow it away.

• Governmental sales

Cars that belong to the government, are surplus, or have been seized by the police are listed for sale on websites like governmentauctions.org and the US General Services Administration. You may search by zip code, and auctions start at only $100. You must sign up for the site to find offers in your region.

How to find the best deals for cars under $500

Here are some pointers you need to locate the car that’s ideal for you now that you’ve decided where to look.

• Acquire a EpicVin report

A EpicVin report offers the following information: previous mishaps/damage and their estimated values, vehicle’s country of registration, history of US thefts, recollect details, Vehicle import history, and service history (locations and services performed).

Only if the car isn’t too old can you get an EpicVin report. Models from the 1950s through 1960s won’t have the necessary 17-digit vehicle identification number (VIN), and EpicVin  doesn’t cover those years. 

• Analyze the Cost-Benefit ratio.

If you want to buy an inexpensive automobile, be prepared for repairs. Most $500 automobiles, unless you’re buying from a friendly relative, will require some maintenance. To determine whether you can afford to fix the car so that it runs again, get quotes in order.

• Get a mechanical inspection ordered.

Ask the owner if you can have the car inspected so that you will know what you are getting into before you make the purchase because there is a good probability that the car may have technical problems. Move on if they refuse your request since this indicates that they are suppressing important facts.

• Be Realistic.

Regarding the automobile you are purchasing, be realistic. Chances are it does require either body or mechanical maintenance, or possibly new tires if the price tag is $500. Remember that you might also need to spend enough money on the car so that it can pass an emissions test or a state inspection. For someone willing and able to put in the work to make the automobile run like new, investing $500 on a car may make for a terrific project.

The best 5 cars under $500

Here’s a short glance at our top selections for used automobiles under $500.

• 2003 Buick Century base
• 2016 Toyota Tacoma SR V6
• 2001 Volkswagen Passat GLX
• Chevrolet Astro 1997
• 2000 Volkswagen Beetle

Final words

You don’t always have to get out the big guns when you want to get a car. Whether you’re getting a car for rough errands or getting one for your teenage kid, it doesn’t make sense to shell out thousands or take out a car loan.

But that doesn’t mean that you have to settle for rust buckets that’ll end up costing you more in maintenance and wasted time. By following the tips that we have outlined in this article, we hope that you can now better navigate purchasing used cars.

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