Old large cars are cheaper than old small ones ie a vectra costs less than a corsa, A mondeo less than a Fiesta etc. If you can afford the insurance, you should be able to get a vectra or mondeo petrol at that price. Make sure the MOT is long and there is enough wear in the tyres for 12 months.
You''ll get a 1st gen Megane for a lot less than £500. Nippier and easier to park than a full size car. The 1.6 8V is the one to go for. Cheap to insure, and, performance wise, pretty much on a par with the 16V below 4000 RPM.
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