| If you are not just on a used car buying budget, but a | | | | Therefore, never look at a car and wonder "is |
| strict budget, you might be looking to buy used cars | | | | something wrong?" Instead, wonder "what is wrong." |
| under $500. But wait! Is this even possible? Yes, | | | | The cost of repairs should be added to the car's selling |
| but there are many factors you should first take into | | | | price. Unfortunately this means you might not be able |
| consideration. Like what? | | | | to buy used cars under $500. Say you have a car |
| These cars can be hard to find. Are you likely to find | | | | that needs new tires (at least $100) and new brakes |
| used cars under $500 for sale at a dealership? No. | | | | (at least $100). Right there, that car gets bumped up |
| So where can you look? Most of these vehicles are | | | | to $700. Can you afford a $700 vehicle? |
| being sold by the owner. Therefore, great places to | | | | Estimating the cost of repairs does take some |
| look are for sale by owner websites, classified | | | | knowledge. Whether the seller outright says what is |
| websites, and in your local newspaper's automobile | | | | wrong with the vehicle or if you pay a small fee to |
| section. | | | | have a mechanic tell you, do it. As just stated, it is |
| A lot of success depends on good timing. As | | | | important to know if you can really buy these used |
| previously stated, it is harder to find and buy used cars | | | | cars under $500 or not. Keep in mind that if you can |
| under $500. This is because these cars are so high | | | | perform the repairs yourself, the cost will be lower. |
| in demand. And, there is the issue that the owner isn't | | | | These cheap used cars don't leave much room for |
| going to profit much from $500; therefore, they rarely | | | | price negotiating. Many times, buyers say "the car |
| spend any money to market this vehicle. Many times, | | | | needs repairs, so I will spend X amount of dollars |
| people who do get a car for less than five hundred | | | | only." This form of negotiating might not work for |
| dollars just happen by it on chance. So, in addition to | | | | you. The used car is already priced about as cheap |
| looking online or in your local newspaper, also keep | | | | as you can go. You can try to negotiate down a |
| your eyes and ears opened at all times. | | | | lower price, but be prepared for a no. Then what |
| Most likely, something is wrong with the vehicle. Why | | | | happens? You have two choices. First, either find |
| does someone sell a used car for less than $500? | | | | other used cars under $500 to buy. Or, save up |
| Two main reasons. First, they either have another | | | | some money until you can afford say a $1,000 car |
| vehicle and want their old one gone now. Second, | | | | (which is still cheap but does give you more buying |
| the car needs repairs the owner cannot afford. | | | | options). |
| Guess what? It is mostly the second reason. | | | | |