Getting cheap vehicles for sale under $500 might seem like an unlikely possibility but with the right knowledge about where to look and what to look for it is not only possible but quite easy. Right from the beginning you should make sure that you know what you want a vehicle for as this will help you in your decision. Do you need it for short commutes in the city or for long trips between towns? Once you have this detail sorted out you can begin looking for a cheap vehicle to suit your needs.
First Choice for a Cheap Vehicle: How to Find a Cheap Used Car
If you are looking for cheap auto in your area then your first point of call should be in the used car market. A big part of knowing how to find a cheap car is understanding how the used car marketplace works and where to look for the best deals. The best way to get the best possible bargain on a used car is by searching for people who are privately selling used auto, that is, people who have owned the cars themselves. There iare no used car lot overheads that you need to cover and there is no markup, you just have to find the right car at a good price and buy it. It is definitely possible to get some decent used cars for under $500 though some might need some work or they may not currently have registration.
Dangers of Buying Used Cars Privately
Although buying privately is the best method there are still some risks associated with it. Primarily, the things you have to watch out for are the risk of mechanical failures such as engine or brakes, and the risk of financial debt ties to the car’s registration. In the first case you could buy a car that works fine for a week and then breaks down costing you hundreds or even thousands in repair costs. You have no protection or warranty when buying privately so you have to be absolutely sure that there are no problems before you buy.
The second instance occurs when the previous owner defaults on their car loan and the debt is transferred to the new owner. Certain types of debt can do this and you can do nothing else but pay for the debt out of your own pocket. Again, the only way to avoid this is to make sure this is not an issue before you buy. In both cases the only way you can be absolutely sure is by having a professional assessor look at the car and it’s history. If something does go wrong after you do this the assessor will be liable and you will be covered.
Can’t Find a Car for Under $500?
There are other choices open to you if you cannot buy a car for under $500 and the right one for you will depend on where you live and what you need the transportation for. Once you do that you may realize that you don’t actually need a car and one of the following alternatives could work perfectly for you.
Motorcycles and Scooters
The two wheeled variety of vehicles are not only cheaper in purchase prices but also in running costs. Fuel costs for motorcycles and scooters are often less than a quarter of that of a car and they are very efficient for frequent small and medium size trips. If you do not need to go cross country with a heap of luggage or a family then a motorcycle or scooter is a great option for you. You can get some really great machines for under $500, often far better condition then cars that you can get for that same price.
The engine-free variety of transportation is by far the cheapest option you can choose. Cycling is even quicker than car or motorcycle in the city during peak times because traffic is a non-issue for cyclists. You will pay almost nothing in running costs and your $500 budget could get you a fantastic new bicycle. More likely, however, you would simply save $400 and buy a $100 used or new bicycle that will do you well for commuting in the city. Of course a bicycle may not be appropriate for you if you need to travel inter-city and in that case you will need to keep looking for cheap vehicles for sale under $500.