What cars are cheap for no reason?

Old Cayennes are cheap because fuel and maintenance are costly, old bmw's the same, fiat multiplas are ugly and renaults break, but which cheap cars have no downsides?

>but which cheap cars have no downsides
None. Like everything else in life, you get what you pay for.

That's not how capitalism works dude.

a Bedford Rascal

Perfection

Akshually, OP basically explained value without explicitly using economic terms. Goods are priced according to their value (as closely as any method can be). If something is not valued highly, it will call a lower price. And vice versa.

That is a simplification but it is a good one of basic market value.

civic

Mercedes W221.

They are mechanically sound but the only known common issues are the airmatic suspension and the interior seat controls. The suspension issue has a higher chance of happening than the seat issue. It'll obviously cost you but at the depreciation it's in now, it's a good band for thew buck. Also, you better stay away from the AMG models.

Depends on what you view as a downside. For some people having a Lexus logo instead of a BMW logo on it is already a downside.

But if you look at severely overpriced cars, like the air cooled 911s, there must be underpriced cars too?

This

You can sometimes find good deals on models or model variants that are less sought after by the average buyer.
Like, for example, a bright red base model (bonus if also auto), or a midsize sedan instead of a wagon (assuming OP is yuro)

Best way to make a bargain is to be realistic about what you need from a car, but open to various makes/models or types of cars.

It's how got my car for ~60% of it's market value.