He said he may be able to go to $700 with his parents help and it's a $600 laptop for the i7 and with an i5 right now you can get it for $500. So I don't think it's all that far off, they should be still for sale but cheaper by the time he wants to buy so would be valid.
Look at what they sell before before saying it's over his budget.
"My budget will more than likely be no more than 500$ , 700 if parents buy this laptop for $200(US currency)"
It fits in his budget an i5 and 555m for $500.