Best used cars for under £500 per month

Got a budget of £500 per month? Help yourself to our list of seriously exciting and highly desirable cars

Simon Ostler
Apr 20, 2021

If you've found yourself with a bit of excess cash in the region of £500 per month, you may be wondering what kind of car you could be driving. We'll take this moment to say you ought to be pretty excited about what your options are.

You won't be short of choice that's for sure. In that kind of price range, you could be getting into the driving seat of some very desirable cars that would cost upwards of £50,000 if you were to buy a brand new one. From upmarket luxury saloons, to some of the best hot hatchbacks around and even class leading SUVs, it's safe to say your car will probably be the envy of your friends.

You might also consider saving some of that money for a nice holiday, and instead opt for something a little cheaper. We have plenty of options here at Buyacar, with some excellent value finance deals.

All these offers are based on a typical four-year PCP finance deal with a reasonable deposit and an 8,000 mile-per-year limit and 7.9% APR. The fun starts here, read on for our list of 10 great used cars you can get for less than £500 per month.

Best used cars under £500 per month

1. Alfa Romeo Stelvio

Used deals from £24,990
Monthly finance from £327*

Alfa Romeo has long been a revered brand among car enthusiasts, yet in times gone by you would've been considered slightly mad if you actually went and bought one, these Italian stallions had a tendency to break rather frequently. In more recent years, however, the Alfa has been making much more reliable and usable cars that actually make quite sensible purchases.

The Alfa Romeo Stelvio is one such example, and it adds plenty fun and enthusaism to the overall SUV experience. Within this £500 per month price range you also get access to a good range of petrol and diesel engines, while there is plenty of standard kit available across the board. 

Performance is good too, particularly with the 2.0-litre tubrocharged petrol engine producing 280hp and a 0-62mph time of just 5.7 seconds up there with some of the faster hatchbacks on the market. This is a sporty take on the SUV blueprint, and one you should take notice of.

ALFA ROMEO STELVIO BUYERS' GUIDE

2. Volvo XC90

Used deals from £28,940
Monthly finance from £403*

Despite being nearly five years old, the Volvo XC90 is a compelling option for the best used SUV at this price point, and at any price point.

It's undeniably one of the best large SUVs on the market. It's safe, stylish, refined, comfortable and relatively efficient. With a monthly budget of £500 you'll be looking at mid-range R-Design spec models, which give the XC90 more of a sporting edge, although this is limited to aesthetic adjustments rather than mechanical improvements.

You will be getting a very capable and high-quality car for your money, and anyone with a larger family should give this a serious thought.

VOLVO XC90 BUYERS' GUIDE

3. Audi RS3

Used deals from £28,650
Monthly finance from £404*

Audi has used the RS3 to continually push the boundaries of what a hot hatch can do, to the point where its performance numbers are now comparable to those of a high-end sports car. All the while remaining very well disguised as a regular family hatchback.

A 2.0-litre petrol engine pushing out 310hp will get you from 0-62mph in 4.6 seconds, which is ludicrously fast and comparable to a Porsche 911. But you get all that excitement without sacrificing any of the practicality you get from a standard A3 hatchback - there is still plenty of room for a family and their luggage.

This should be on the list of every high-performance car enthusiast, espeically those looking for something a little less conspicuous.

AUDI A3 BUYERS' GUIDE

4. BMW 7 Series

Used deals from £23,550
Monthly finance from £396*

How about something with a bit more poise and dignity? The BMW 7 Series will cater to all of your luxury cruising needs, with a smooth and powerful engine pulling you around with little fuss while you sit back and indulge in luxury.

Up against more expensive alternatives like the Mercedes-Benz S-Class or Jaguar XJ, the 7 Series offers a very similar level of quality, comfort and performance, proving itself to be a very good value option.

For less than £500 per month you get hold of a low-mileage M Sport model with a good choice of big and powerful diesel engines and plenty of cutting edge tech – the list is too long to write here, needless to say you'll have everything you're ever likely to need.

BMW 7 SERIRS BUYERS' GUIDE

5. Ford Focus RS

Used deals from £25,919
Monthly finance from £425*

Another very hot hatch, the Ford Focus RS follows a similar script to the Audi RS3. It's not quite as powerful as the Audi, but that's not to say it feels slow, there's still plenty of fun to be had here.

You get a 2.3-litre tubrocharged engine capable of 0-62mph in 4.7 seconds - which once again puts it in 911 territory, and the fact it sports four-wheel drive makes it a very handy car around twisty country lanes, or in bad weather.

Crucially, perhaps, it's not as expensive as its rivals either and actually comes in at well under £500 per month. We'd consider making a saving here, because you won't be disappointed. 

FORD FOCUS RS BUYERS' GUIDE

6. Jaguar F-Type

Used deals from £32,000
Monthly finance from £421*

Ok, so the Audi RS3 might not look particularly exciting, and the Ford Focus RS is still a Ford Focus, but you want a car that’s going to turn heads and shout from the rooftops. The effortless style and rumbling roar of a Jaguar F-Type is probably your best bet. This very attractive coupe is not only very pleasing to look at, it also has a spectacular soundtrack. You will definitely get noticed if you’re driving one of these.

We’d recommend avoiding the rather unexciting 2.0-litre R Dynamic models, but 3.0-litre V6-engined variants are available for less than £500 per month, if you're willing to go for something with two or three years of use.

Amazingly, it's not as fast as either of the two hot hatches we listed above, the 380hp produced by the V6 is capable of 0-62mph in 4.9 seconds. It's not as practical either, with only two seats, although the boot is a reasonable 196 litres. But that's not what the F-Type is about. There's nothing at this price that will look and sound better than this. It's an absolute dream to drive, too.

JAGAUR F-TYPE BUYERS' GUIDE

7. Range Rover Sport

Used deals from £30,750
Monthly finance from £412*

This will turn heads too. The Range Rover has been something of a trailblazer when it comes to SUVs, and the Range Rover Sport was introduced as a smaller alternative to the standard model back in 2013.

Pioneering a new form of SUV with a lower ride height and more dynamic handling, it remains the benchmark for rivals like the BMW X5 and Audi Q3 to try and match.

It's also impossible to ignore the class that simply oozes from every corner of this car. Despite it's size, the Range Rover Sport is as elegant as they come. 

RANGE ROVER SPORT BUYERS' GUIDE

8. Lexus ES

Used deals from £26,400
Monthly finance from £368*

Those looking for something other than a BMW, an Audi or a Mercedes may want to consider a Lexus ES. Not only does it offer unique styling and excellent build quality, the ES is also only available as a hybrid, which sets it apart from its German rivals.

While it lacks the power and refinement of those more established alternatives, the ES does represent a very good option for drivers looking for a reliable and well-equipped cruiser. Seeing as you can get yourself a punchy looking F-Sport model for less than £500 per month, you will be getting plenty of car for your money.

The list of standard tech includes heated front seats, adaptive cruise control and a whole range of safety additions.

LEXUS ES BUYERS' GUIDE

9. Peugeot 508

Used deals from £13,990
Monthly finance from £245*

Another left-field choice for anyone in the market for a medium-sized saloon, the Peugeot 508 has got plenty of character to go with its stylish looks and up-to-date technology.

With Peugeot's i-Cockpit display, climate control, parking sensors and smartphone connectivity with Android Auto and Apple CarPlay, there is plenty to keep you entertained inside the 508.

Perhaps the best news is that your £500 per month budget will get you an almost-new 2019 model with GT trim. We think the 508 looks even better in this spec, so you should definitely consider going for one of these.

PEUGEOT 508 BUYERS' GUIDE

10. Cupra Ateca

Used deals from £27,989
Monthly finance from £371*

The Cupra Ateca is the first attempt by Seat's subsidiary brand to make models like the standard Ateca feel more spritely and desirable. You could say that has been achieved.

The standard model competes with the likes of the Nissan Qashqai and Skoda Karoq, and while the Cupra blows these cars out of the water in terms of perfomance - a 300hp petrol engine makes sure of that - it does cost an awful lot more than those more basic contenders, and doesn't have the kind of quality to match a Porsche Macan or Audi SQ5.

As a result, it sits on its own in a very niche section of the market, altough it's set to be joined by similar models from Audi and VW in the near future. It's good though, and for less than £500 per month it will prove a solid investment.

CUPRA ATECA BUYERS' GUIDE

*Representative PCP finance - Ford Fiesta:

48 monthly payments of £192
Deposit: £0
Mileage limit: 8,000 per year
Optional final payment to buy car: £2,923
Total amount payable to buy car: £11,926
Total cost of credit: £2,426
Amount borrowed: £9,500
APR: 9.9%

BuyaCar is a credit broker, not a lender. Our rates start from 6.9% APR. The rate you are offered will depend on your individual circumstances.

 

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