Until recently, used car prices had been going through the roof. They started getting cheaper when gas headed toward $4 a gallon, and then when the credit crisis hit, and there were a lot of repos on the market, they got even cheaper. Now that gas is back down under $2, they’ve gone back up somewhat, but they’re still cheaper than a while back. Of course, “cheap” is a relative term, and one man’s bargain is another man’s extravagance. What if you need a car fast, and you only have five hundred bucks? I’d head for government auto auctions. Cars under 500 dollars are available there.
Now, don’t get me wrong. At government auto auctions, cars under 500 dollars aren’t a dime a dozen. They really aren’t even plentiful. … Read More