Simple fact is £500 is only a couple of weeks wages for a 17 year old on minimum wage. When I was 17 my first car cost £80 and was a right pile of carp but it was exactly what you got and expected for £80. £80 at that time was 4 weeks wages for a 17 year old apprentice. But it worked (to a certain extent) and as expected it cost me money on several occations.
If I had paid the grand sum of £40 (2 weeks wages) I would not have got a runner. More than a few mates paid that kind of money and then spent more than £40 fixing the engine and welding the underbody. Basically this is what you have bought.
If you want a decent car with a worthwhile warranty you have to pay for it. As has been said many times "you get what you paid for". You paid little more than scrap money and got little more than a scrapper.
And one other thing, always remember the first 3 rules of car buying.
1) All salesmen are liars
2) All salesmen are liars
3) Refer to rules 1 and 2
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