Buying used cars for sale under 500 dollars doesn't mean you have to push them home. Great deals are difficult to come by, but with a lot of hard work you can find used vehicles within your price range. The best places to look for used cars are government auto auctions where you can find tons of choices of cars for a extremely cheap prices. Due to a slowdown in the economy, more and more lenders are taking back used cars from owners who can't afford to pay their monthly payments. This is bad news for car owners, but good news for you. You will have more choices of top quality cars than ever before. Below, I will provide you with some great tips on how to find cars for sale under 500 dollars.
It may be difficult to believe, but you can actually purchase government surplus cars and repossessed used vehicles for under 500 dollars. Many of these auctions sell off used police vehicles and other state agency cars to the highest bidder. If you want to find out where these auctions are held, perform a simple Google search and you will find tons of results. If you live in a relatively large city, finding one shouldn't be so difficult. The best time to go to one of the auto repo auctions is when the weather is bad. If you go on a rainy day, you will find yourself competing against a much smaller number of bidders.
Even if there is a lot of competition at an auto repo auction, the used cars that are available will often times sell up to 90% off of their original value. This is a huge discount that you won't be able to find anywhere else. These used cars will also be in good condition and will require only minor repairs. The great thing about government agencies is that they do a good job of maintaining their vehicles and try their best to sell them off before they get too old. At these auctions, you can expect used cars to have anywhere from 20,000 to 60,000 miles on the meter. Obviously, the less you pay, the more mileage you can expect. As a general rule of thumb, never purchase a car with more than 100,000 miles on the meter, no matter how cheap the price.
In addition to auto repo auctions, you should also contact your local banks or money lenders. These institutions occasionally have their own auto auctions as well. The best thing to do is to look in your local yellow pages and call them up to see if they currently have any used vehicles that they need to sell. You'd be surprised how many lending institutions hold used cars for sale. If you do your research and use your head, you should be able to find used cars for sale under 500 dollars.
It may be difficult to believe, but you can actually purchase government surplus cars and repossessed used vehicles for under 500 dollars. Many of these auctions sell off used police vehicles and other state agency cars to the highest bidder. If you want to find out where these auctions are held, perform a simple Google search and you will find tons of results. If you live in a relatively large city, finding one shouldn't be so difficult. The best time to go to one of the auto repo auctions is when the weather is bad. If you go on a rainy day, you will find yourself competing against a much smaller number of bidders.
Even if there is a lot of competition at an auto repo auction, the used cars that are available will often times sell up to 90% off of their original value. This is a huge discount that you won't be able to find anywhere else. These used cars will also be in good condition and will require only minor repairs. The great thing about government agencies is that they do a good job of maintaining their vehicles and try their best to sell them off before they get too old. At these auctions, you can expect used cars to have anywhere from 20,000 to 60,000 miles on the meter. Obviously, the less you pay, the more mileage you can expect. As a general rule of thumb, never purchase a car with more than 100,000 miles on the meter, no matter how cheap the price.
In addition to auto repo auctions, you should also contact your local banks or money lenders. These institutions occasionally have their own auto auctions as well. The best thing to do is to look in your local yellow pages and call them up to see if they currently have any used vehicles that they need to sell. You'd be surprised how many lending institutions hold used cars for sale. If you do your research and use your head, you should be able to find used cars for sale under 500 dollars.