You Can Buy Used Cars Under 500 Dollars!

You know you can buy used cars under 500, but did you know you could actually get decent vehicles? Of course, if you are willing to spend a little more, perhaps $1000 or $2000, you will have more options, but this price range is still possible. It will not be without some work on your end, however. If you are willing to put some effort into this, you really can buy used cars under 500 dollars that run great. Here’s where to go for the great deals.

Local Police Auctions:

You can find some great deals at police impound auctions and sales. You will be able to buy used cars under 500 bucks at these types of sales if you choose to. Finding a nice vehicle can be a little bit harder, though, so you really need to keep your eyes open. Many local police and sheriff departments have auto auctions at least annually.

Tip: When you look to buy used cars under 500 this way, be sure to do a thorough presale inspection, so you know what you’re getting.

Bank Repo Vehicles for sale:

You really can buy used cars under 500 dollars for sale at local banks and lending institutions. You may have to do a little digging and calling around to find bank repo vehicles for sale, but they are out there. Try calling the lenders in your area to find out what types of bank repo vehicles they have for sale. You can really come out well this way.

Tip: These are often sold on silent auction. Be sure to bid an odd amount. For example, instead of bidding $600, place your bid for $612. Many will bid the rounded amount or just a dollar or two over.

Local Government Auctions:

Local government, just like the PD’s and Sheriff Departments, will have auctions from time to time. This could be your chance to buy used cars under 500 that have been properly maintained. When county or city vehicles are replaced, they look to sell off the old ones. To make it simple, they have auctions for their surplus items. This gives you a great opportunity to buy used cars under 500 dollars that have been well taken care of.

Tip: Brave the bad weather. Bad weather will drive off many auction goers. If you go during a rain storm, for example, there will be fewer bidders. This could help you land a nice cheap automobile, even a truck.

Be Careful Online:

Online sites offering repo vehicles for sale or cheap trucks have plenty of drawbacks. If you are looking to buy used cars under $500, you really need to pay attention to location. Many of these online sellers could be hundreds of miles away, or more. This means transportation costs can add $300 to $1000 to your total expenses. For this reason, you must use extreme caution if you look to buy used cars under 500 dollars online. Good common sense will serve you very well with this one.

Spending a Little More

Obviously, if you are willing to spend $750 or even $1,000, you will have more luck finding a road worthy auto. Still, by following the same process, you can find a great deal.

Making Money on Trade-In

It is possible to pick up one of these vehicles and use it to make, or in this case save, a lot of money. When there is a cash for clunkers type of program, the kind offered where the minimum trade in allowance is $2,000 or more, you can realize an instant savings of $1,500.

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Comments 6 comments

alantrammell profile image

alantrammell 6 years ago from Columbia, Tennessee

JC,

Thanks for the info. I am in the market for a low investment car and your information was helpful.


Sarah Hill 5 years ago

Great tip! I usually look on AutoTrader.ca as well.


Jessica 4 years ago

I need a used 500$ car


virginia 4 years ago

i need a car for 500 or 600 my car just died and i can not fix it so i need a car to last me for the next 6 mo if you know of a good cheep car email me viimason@hotmail.com


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Nathaniel Seton 2 years ago

i need used cars to buy under 1000$

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