Home / Knowledge / Tips & advice / Cars underneath £500: should we buy one?

Cars underneath £500: should we buy one?

With so many new steel being suggested by automobile makers each week, it’s easy to forget that there’s a sepulchral trade in used cars around a UK. What’s more, there’s a automobile for sale to fit roughly each pocket, even if you’re on a tightest of budgets.

While franchised dealers change scarcely new batch glowing with guaranty and relapse cover that’s usually as extensive as you’ll find on a mint motor, and eccentric outlets trade in somewhat comparison steel that still has copiousness of life left in it, a outdoor fringes of a used automobile trade and a universe of private sales are where a genuine bargains can be found. Provided you’re careful.

• Buying a used car

Here we have a demeanour during a unequivocally bottom of a market, and a cars that cost £500 or reduction to see if we can still get a decent engine for such a tiny volume of cash. Or either you’re improved off holding your £500 and environment glow to it?

What automobile can we get for £500?

Do a discerning hunt online for cars costing £500, and you’ll find a outrageous accumulation of machine from as tiny as 12 years old, nonetheless not many of it will be quite desirable.

You’ll find cars from makers that no longer have authorization play networks and therefore no patron support, such as Chevrolet (Daewoo), Chrysler, Daihatsu, Dodge, MG Rover and Proton. Then there are a mass-produced models from mainstream automobile makers such as Ford, Vauxhall, Renault and Peugeot. These are a cars that have simply survived this distant yet poignant automatic or collision damage, portion as a many simple approach to get from A to B with a roof over your conduct yet regulating open transport. 

The infancy of cars costing around a £500 symbol will have lonesome during slightest 100,000 miles, nonetheless this isn’t indispensably an emanate if a automobile has been scrupulously looked after. But afterwards a full use story will strike adult an aged car’s value over a £500 bill – a £500 automobile is expected to come with a sketchy use history, if any during all.

Chevrolet Lacetti

This partial of a marketplace is also where you’ll find somewhat some-more fascinating cars that are non-runners or are Category C or D (now famous as Cat S and N) word write-offs. These latter models could have suffered repairs that was to dear to correct by an insurer, yet could presumably be repairable by someone with a simple believe of automobile mechanics and entrance to inexpensive deputy parts, from a throw merchant, for example.

Obviously a initial £500 squeeze cost would be usually a start of a financial outlay, and we could compensate many some-more in repairs to get a automobile behind on a road. In this instance, it’s a good thought to do a sums to see if a automobile is value a money, time and bid to correct before going any further.

• Insurance Write Off Catergories Explained

Your best gamble for removing a £500 automobile that’s prepared to strike a highway is to check out your internal tiny eccentric used automobile dealer. These businesses should have a solid upsurge of cars on and off their forecourts, and some will take in all kinds of used automobile in part-exchange when offering a deputy vehicle. Usually, a used automobile play will wish shot of an unattractive part-ex as shortly as possible, so they will spin a automobile around fast and re-sell it ASAP so they remove as tiny income as probable on it.

While many vendors are doubtful to branch adult any kind of guaranty – charity a automobile ‘Sold As Seen’ in an ad means you’ll get accurately what we compensate for – it’s expected to have some MoT left, so we should have some time with it to learn what needs regulating before a subsequent MoT exam is due.

MoT is king

One apparatus in a armoury of a inexpensive automobile customer that has spin even some-more useful in new years is a MoT test. If a automobile has upheld an MoT, afterwards it during slightest means a automobile is roadworthy. And as a MoT exam needs to be carried out on a automobile each 12 months, it’s value seeking out a inexpensive automobile with a prolonged MoT.

But currently we can find out some-more about a automobile than a fact it simply has an MoT. From 2005, a DVLA has logged MoT exam information online, and if we have a registration of a intensity purchase, afterwards we can conduct to www.gov.uk/check-mot-history and check a MoT history.

Garage Workshop

This will exhibit a pass and destroy record of a automobile for each MoT from 2005 onwards, so will during slightest fill in some information about a vehicle’s new history, that is arguably some-more useful than a logbook that usually has play stamps for a initial few years of a car’s life. Also enclosed are technical explanations of since a automobile has unsuccessful a MoT, while a advisory notices are also listed.

• MoT and Tax, how to check a vechile has them 

These advisories uncover aspects of a automobile that are in need of attention, yet don’t consecrate an MoT failure. As prolonged as they are addressed before a subsequent MoT, afterwards they shouldn’t be anything to worry about. Again, a MoT story should be means to uncover that these advisory records transparent as they’re bound during a car’s life.

The MoT story is a accessible apparatus to lift alarms about intensity destiny problems – if a records exhibit MoT failures due to wear and rip equipment such as blown bulbs, tyres or brakes, afterwards there shouldn’t be many to be disturbed about. However, if failures are due to corrosion, empty leaks or problems with a car’s reserve kit, afterwards there could be some-more intensity problems in a future. As we’ve pronounced before, go in with your eyes open – if we feel assured that these are issues that we can residence when they arise, afterwards go ahead, yet decay and gnawing can be formidable and dear to repair, and this kind of work is doubtful to be value doing on a £500 car.

Road tax

One reason some cars finish adult costing peanuts to buy is since they’re prohibitively dear when it comes to Vehicle Excise Duty (VED), differently famous as highway tax. From 1 Mar 2001 to 31 Mar 2017, highway taxation was distributed formed on CO dioxide (CO2) emissions, yet that meant some paltry models suffered when a taxation rates were designed to penalize some-more dear polluters.

As a result, you’ll find petrol-powered models with automobile gearboxes that are inexpensive to buy, yet for that we could potentially compensate usually as many again to taxation each year, as a limit rate payable is £555. If you’re looking during a automobile purebred between 1 Mar 2001 and 23 Mar 2006, afterwards a limit you’ll compensate is £315, yet that’s still two-thirds of a value of a intensity buys we’re looking at.

A discerning indicate of a classifieds reveals a kind of cars you’ll find that tumble into this highway taxation trap:

Buying a £500 car

Of course, while you’re looking to spend as tiny as probable on a car, we should still beware of rascal and other pitfalls. The MoT check is a critical apparatus for any used automobile buyer, and while an HPI check competence seem extreme for cars during this finish of a spectrum, it could still prominence information about a used automobile that a businessman competence be perplexing to hide.

And remember, if a automobile is being sole during a discount cost that is too good to be true, it substantially is. If there’s singular information offered, there competence be issues with a car. Have a good demeanour around a car, check for decay and effervescent paint that’s a pointer of corrosion, generally in dark areas such as underneath, in a wheelarches and inside a foot and engine bay. 

As these are comparison cars with high mileages, afterwards there’s going to be some sloppiness in a controls. However, there shouldn’t be extreme play in a steering (where we spin a circle yet there’s a check before a front wheels change direction) a tardy gearbox mechanism, lots of purchase and handbrake transport or lots of slipping from an automobile gearbox.

It’s value checking a electrics, too. If they all work, afterwards there’s reduction odds of a automobile carrying been concerned in an accident. If you’re accessible with a soldering iron, afterwards electrical issues competence not be such a headache, yet it could be dear to get electrics remade during a garage.

Something else value checking is that all a wheels line adult correctly. Any misalignment could be an indicator of collision damage, that could also means some-more problems serve down a line.

And of course, a right support is vital. If a seller doesn’t have a V5C registration document, afterwards travel away. There’s no pledge that it’s their automobile to sell, and even yet you’re profitable around £500 for a car, that’s still no reason to take a risk, as we could be out of slot and reduction a automobile if that turns out to be a case.

Selling a £500 car

If you’ve had your fill of a £500 car, afterwards we competence wish to cruise offering it on. In this instance, if we put it by an MoT test, afterwards that’s going to make it some-more desirable. However, we could finish adult profitable some-more than a car’s value to get it prepared for a road, so a best we can design is to mangle even on a strange cost we paid for a car.

• Selling your automobile privately

If a automobile fails a MoT and is prohibitively dear to repair, afterwards your best gamble is to cut your waste and get a automobile scrapped. Scrap merchants will compensate around £150 for a non-roadworthy car, and we should get behind any superb highway taxation and word we have on it.

Do we have knowledge of shopping unequivocally inexpensive cars? Tell us your stories below…

Check Also

International pushing permit: do we need one?

If you’re pushing abroad, it’s mostly a box that being a unapproachable owners of a …

Leave a Reply

Your email address will not be published. Required fields are marked *