I wish I had $500 and wondering what to buy.
Depends what you're looking for - just a good accurate gun for fun or real target stuff.
Do you need a real offhand target stock, semi target, or is sporter OK?
Low end peep or target peep?
My suggestions:
CIL Anschutz 180 or 190
Anschutz Match 64
Any BSA Martini
Any Brno with peep
Browning T-bolt with peep
Any Mauser with peep
Remington 513
Remington 540
Any of the old Savages - 1919, 1922, 23A, 23AA, 19 NRA
Any Sako
Any Walther
Winchester 69
Winchester 75
Any of these are great shooters and you should have change left over from $500 for most of them.
And the best part is, you can sell them for at least what you paid for them.