Originally posted by old_goat2:
Getting in a hurry to buy a bow will bite you in the butt almost every time! Buy low sell high ; ^)
Some good advice above. Some great bows to be had on the classifieds right here on Tradgang at that price. More importantly, since you're new, test a few bows out and getting a feel for what suits you may be the most important advice of all. If the $500 is what you have an you're going to have to live with that for a year or two, I'd suggest the following:
Learn how to use the search function here on Tradgang and review old threads/reviews on bows. Make yourself a chart/list and start filling in the chart as to what the pro's and con's of the reviews are.
Purchase a membership on Tradgang so you can see what bows are listing and selling for. This will give you a feel for bow prices and if something will fall into your range with patience.
Remember the old indian adage--'any bow good bow, good arrow heap much work'. A lot of guys could take a used 62" Martin Hunter or 60" Bear Super Kodiak, purchased for $200 and match it with some great wood or carbon arrows and still have money left over in your budget and shoot circles around a great custom bow and inexpensive arrows.
Patience grasshopper and you'll be better off in the long run.