Looking at spending around $500 on a new fishfinder and was wanting some recommendations. Previously have had a Lowrance but was thinking about trying Humminbird. Thanks in advance.

That excludes all the imaging technology for either brand and maybe even GPS at suggested retail price. It does put you in the color display class though (better for sunlight viewing).
Look thru the on-line catalogs (Cabelas, BPS,etc to find one with the features that you would like but in the $600-800 range. Then do an on-line search for that brand and model. You will find that range within your price range at lots of speciality electronics dealers. The big box sporting goods stores mostly sell at suggested retail price unless they have close-out sales on discontinued units.
Suggested sources are Three Rivers Marine Electronics, BBG Marine, Universial Mania, Ebay, and several others (can't remember) that show up in your brand/model search.
I've seen the out-of-your-price-range Humminbird 1198ci SI for $600 less than suggested retail mentioned recently-Google is your friend.

Send a PM to Shut-up-and-fish He might be able to help I bought a Bird from him. Has fair prices and good service.

I would look at the Humminbird 500 Series you could get a 2D with Down Imaging unit for very close to your budget price. 596c HD DI or 597ci HD DI