If you are looking to buy used cars under 500 dollars, you must realize that it’ll be long and difficult process. Used vehicles at this price range are rare and very hard to find. However, they do exist and with a bit of luck you can find one. It is also good to keep in mind that these used cars will need quite a lot of repairs and replacements (such as tires and breaks). Thus, you need to add all these costs to the initial payment of the car to get a more accurate picture of how much you are actually paying. The car will also have a lot of scratches and dents on the surface. Below, I will provide you with some tips on how to find and buy used cars under 500 dollars.
Avoid Car Dealerships
If you are thinking of going to your local car dealership, think again. You won’t find any decently priced used cars because most of them will be overpriced. Since a lot of car salesmen operate under commission, they want to inflate the prices of their vehicles as much as possible. The higher the prices of the cars they sell, the more they get to take home. Thus, they love to prey on naive and unsuspecting customers who do not know a lot about buying used cars in the first place. I highly recommend that you avoid dealerships in your search for a cheap used vehicle.
How To Find Used Cars Under 300 Dollars
Auto Repo Auctions
The first place you have to look is an auto repo auction. Here they auction off used cars that have been repossessed by lenders because the owners were unable to make their monthly payment. Due to an ailing economy, more and more people have been unable to pay their bills on their cars. As a result, there are more options and better quality used cars than ever before! You can find these auto repo auctions by doing a simple Google search. Autobidmaster is a site that I like to use to find great deals on used cars. It is so easy to use. The site allows you to refine your search according to vehicle type, sale date, and location. The location filter is very useful because it allows you to find an auto repo auction near your house. This saves a lot of time and money as well.
Police and Sheriff Departments
If you search in your local yellow pages, you will find the numbers to your local enforcement agencies. Every now and then, they hold used car auctions for the public and you can find really cheap cars, typically priced under 1000 dollars. A lot of these cars were confiscated after a crime or were never claimed by their owners. Although there is no set schedule for these types of auctions, if you are persistent in calling your local law enforcement agencies, you are bound to get lucky sooner or later. The Police and Sheriff Department also have auctions when they replace their vehicles for newer models.
Bank Repossession Vehicles
Banks not only hold and protect your money, they sell used cars in auctions well. A lot of these used cars are sold at silent auctions, so it is your job to find out when the auction is held. Once again, look through your local yellow pages and call all the banks and lending institutions in your area. Since schedules are not set in stone, you might have to try several times before you are successful. Once you find out the schedule for the used vehicle auction, mark it on your calendar and wait. Keep in mind that the best time to go to these auctions is when the weather is bad. On a rainy day, few bidders will show up, and you will have less competition, and a higher chance of coming out on top. When you bid for a price, try to go for unusual numbers that no one else will say. For example, most people will bid for $500, a few will bid for $550 and practically none will bid for $557. Using these tactics, you can ensure that you will be able to win the auction and get the used car that you’ve always wanted.
By following the tips outlined above, you should increase your chances of finding used cars under 500 dollars.