As others have said - bows are in a constant state of improvement (more so with compounds, but also progress on recurve sand longbows). A 5 year old bow can be had for a song and will be more than fine for a beginner.
if you go with an older bow, something with at least a 42" axle to axle (center of the cam wheels) will allow you to shoot finger release. Shorter than that and the pinch will require you go to a release aid ($50). If you want to learn to be successful early then plan on a bow with a peep sight, at least 3 pin front sight, and a good rest/arrow holder.
You can become skilled with instinctive shooting a barebow, but this will require regular (daily) practice and a lot of bent arrows until you learn. On top of that, it is a skill that requires continued practice.
for arrow selection, aluminum arrows are generally cheaper and a bit more forgiving when you miss the target. Carbon fiber are clearly better, but they can run £5 per arrow, and that hurts the wallet when you crack one.