How to Find a Car for 500 Dollars

In tough economic times, consumers try to downsize their budgets as much as possible. One of the easiest ways to do this is to get rid of your car payment. Having a car payment is not a requirement of owning a car. This leaves the question, how do I buy a car if I don’t finance it? Simple – buy a car you can afford. Bargain hunters can find a great car for $500.

Difficulty: Moderate

Instructions

Things You'll Need:

• Local Newspaper
• Pen and Paper
• Computer with Internet Connection
• Web Browser

1. Check the car classifieds in your local newspaper. Since you are looking for a car that costs $500 you’ll naturally want to avoid the luxury sections. However, most manufacturers have been around long enough to have cars that will sell for $500. Many newspapers organize the cars by year of production. Look for a car that is around 10 years-old. Any newer and the price will be too high, any older and it might be considered a classic or collector car and again the price will be too high.

2. Browse the garage/yard sale ads listed in your local newspaper after looking through the car classifieds. While some garage sales are held without newspaper advertising, many consumers pay the small fee for a classified ad in order to draw more customers. Some of these individuals planning a yard sale may list whether a vehicle will be sold during the yard sale.

3. Write down the address and day/hour of any garage sale that states that a vehicle will be sold. You may also want to write down the address of any others in the nearby areas as they may also have a car to sale. Garage sales are a great place to pick up a bargain vehicle. You can easily haggle your way into buying a car for $500 at a garage sale.

4. Launch your internet browser and go to your area’s Craigslist site. Craigslist is like an online classified ad site and you’ll be able to search through the many listings for cars that fit your budget. If you find a car for $500 that you’re interested in, contact the advertiser.

Tips & Warnings

• Even though you’re only looking for a $500 vehicle, it might be wise to have a mechanic look at it so you’ll have an idea of how much money you may have to put into it prior to registering it in your name.
• If you pay cash for the vehicle, get a receipt and save it.

Resources

• Craigslist