Ten fresh cars you can buy for under $300 a month
Latest grads or first-time buyers may be hesitant or intimidated when buying a fresh car. Many often opt for purchasing a used-vehicle or even just using public transportation.
Yet with many manufacturers suggesting low monthly payment plans for the latest models, it’s never been lighter to ditch the bus and get behind the wheel.
GOBankingRates measured the suggested retail price of vehicles from several manufacturers and applied three assumptions —a five-year auto loan term, a twenty percent down payment and estimated monthly payments for those with excellent, good and fair credit — to find the vehicles with the lowest payments.
Here are the top ten cars you can buy for $300 a month or less, according to GOBankingRates, proving you don’t have to break the bank to own a fresh set of wheels.
Some photos might not depict base models and could list for more.
Ten. Two thousand seventeen Chevrolet Sonic
- Beginning MSRP: $15,145
- Down payment: $Trio,029
- Monthly car payment for fair credit: $273
- Monthly car payment for good credit: $237
- Monthly car payment for excellent credit: $187
The Sonic comes with features, such as a Wi-Fi hotspot, that any tech-savvy shopper would love. Downside: Fuel economy is less than average for its class, according to U.S. News & World Report.
9. Two thousand seventeen Fiat 500
- Beginning MSRP: $14,995
- Down payment: $Two,999
- Monthly car payment for fair credit: $270
- Monthly car payment for good credit: $235
- Monthly car payment for excellent credit: $185
The Fiat 500’s size makes it effortless to park, which may be ideal for city dwellers. On the spin side, the Fiat five hundred lacks a lot of cargo space and doesn’t have much of a rear seat.
8. Two thousand seventeen Hyundai Accent
- Beginning MSRP: $14,745
- Down payment: $Two,949
- Monthly car payment for fair credit: $266
- Monthly car payment for good credit: $231
- Monthly car payment for excellent credit: $182
The Accent’s 10-year warranty and generous space makes this vehicle an ideal purchase for many first-time buyers.
7. Two thousand seventeen Wise Fortwo Unspoiled Coupe
- Commencing MSRP: $14,650
- Down payment: $Two,930
- Monthly car payment for fair credit: $264
- Monthly car payment for good credit: $229
- Monthly car payment for excellent credit: $181
The petite footprint of Clever Fortwo Unspoiled Coupe makes this another contender for city buyers, and the model was named the “ultimate city car” by Kelley Blue Book. The gasoline version requires premium fuel, which may be a minus for those attempting to save at the pump.
6. Two thousand seventeen Kia Rio
- Beginning MSRP: $14,165
- Down payment: $Two,833
- Monthly car payment for fair credit: $255
- Monthly car payment for good credit: $222
- Monthly car payment for excellent credit: $175
The Rio offers an upscale interior that could lightly be mistaken for that of a more expensive car. Other features include heated leather seats and high-quality interior trim, in several models.
Five. Two thousand seventeen Mitsubishi Mirage G4
- Embarking MSRP: $13,995
- Down payment: $Two,799
- Monthly car payment for fair credit: $252
- Monthly car payment for good credit: $219
- Monthly car payment for excellent credit: $173
This vehicle offers a generous decade-long warranty and is one of the least expensive cars in the class. A noisy engine, slow acceleration and ordinary interior features may leave some drivers wanting more, according to Kelley Blue Book.
Four. Two thousand seventeen Ford Fiesta
- Kicking off MSRP: $13,660
- Down payment: $Two,732
- Monthly car payment for fair credit: $246
- Monthly car payment for good credit: $214
- Monthly car payment for excellent credit: $168
The Fiesta comes with features such as touch-screen capability. Cargo and rear-seat space tend to be limited, so it’s not ideal for driving around groups, according to Car and Driver.
Three. Two thousand seventeen Chevrolet Spark
- Commencing MSRP: $13,000
- Down payment: $Two,600
- Monthly car payment for fair credit: $234
- Monthly car payment for good credit: $203
- Monthly car payment for excellent credit: $160
The Spark offers one of the lowest base prices, which makes it a good option for many budget consumers. It has features such as built-in Wi-Fi and touch-screen capability. Buyers with families may be deterred by its relative lack of legroom and cargo capacity.
Two. Two thousand seventeen Mitsubishi Mirage ES
- Beginning MSRP: $12,995
- Down payment: $Two,599
- Monthly car payment for fair credit: $234
- Monthly car payment for good credit: $203
- Monthly car payment for excellent credit: $160
The Mitsubishi Mirage ES also boasts a generous decade-long warranty. Being one of the cheapest cars in the class comes with some trade-offs, such as a noisy and slow-accelerating engine and a something-to-be-desired interior, according to U.S. News & World Report.
1. Two thousand seventeen Nissan Versa Sedan
- Embarking MSRP: $11,990
- Down payment: $Two,398
- Monthly car payment for fair credit: $216
- Monthly car payment for good credit: $188
- Monthly car payment for excellent credit: $148
The Versa Sedan tops the list with a spacious interior and trunk, two features many budget cars lack. For consumers looking for the smallest monthly payment — less than $150 for buyers with excellent credit — the Versa is a reliable pick.
Ten fresh cars you can buy for under $300 a month
Ten fresh cars you can buy for under $300 a month
Latest grads or first-time buyers may be hesitant or intimidated when buying a fresh car. Many often opt for purchasing a used-vehicle or even just using public transportation.
Yet with many manufacturers suggesting low monthly payment plans for the latest models, it’s never been lighter to ditch the bus and get behind the wheel.
GOBankingRates measured the suggested retail price of vehicles from several manufacturers and applied three assumptions —a five-year auto loan term, a twenty percent down payment and estimated monthly payments for those with excellent, good and fair credit — to find the vehicles with the lowest payments.
Here are the top ten cars you can buy for $300 a month or less, according to GOBankingRates, proving you don’t have to break the bank to own a fresh set of wheels.
Some photos might not depict base models and could list for more.
Ten. Two thousand seventeen Chevrolet Sonic
- Embarking MSRP: $15,145
- Down payment: $Three,029
- Monthly car payment for fair credit: $273
- Monthly car payment for good credit: $237
- Monthly car payment for excellent credit: $187
The Sonic comes with features, such as a Wi-Fi hotspot, that any tech-savvy shopper would love. Downside: Fuel economy is less than average for its class, according to U.S. News & World Report.
9. Two thousand seventeen Fiat 500
- Kicking off MSRP: $14,995
- Down payment: $Two,999
- Monthly car payment for fair credit: $270
- Monthly car payment for good credit: $235
- Monthly car payment for excellent credit: $185
The Fiat 500’s size makes it effortless to park, which may be ideal for city dwellers. On the roll side, the Fiat five hundred lacks a lot of cargo space and doesn’t have much of a rear seat.
8. Two thousand seventeen Hyundai Accent
- Embarking MSRP: $14,745
- Down payment: $Two,949
- Monthly car payment for fair credit: $266
- Monthly car payment for good credit: $231
- Monthly car payment for excellent credit: $182
The Accent’s 10-year warranty and generous space makes this vehicle an ideal purchase for many first-time buyers.
7. Two thousand seventeen Clever Fortwo Unspoiled Coupe
- Beginning MSRP: $14,650
- Down payment: $Two,930
- Monthly car payment for fair credit: $264
- Monthly car payment for good credit: $229
- Monthly car payment for excellent credit: $181
The petite footprint of Brainy Fortwo Unspoiled Coupe makes this another contender for city buyers, and the model was named the “ultimate city car” by Kelley Blue Book. The gasoline version requires premium fuel, which may be a minus for those attempting to save at the pump.
6. Two thousand seventeen Kia Rio
- Embarking MSRP: $14,165
- Down payment: $Two,833
- Monthly car payment for fair credit: $255
- Monthly car payment for good credit: $222
- Monthly car payment for excellent credit: $175
The Rio offers an upscale interior that could lightly be mistaken for that of a more expensive car. Other features include heated leather seats and high-quality interior trim, in several models.
Five. Two thousand seventeen Mitsubishi Mirage G4
- Commencing MSRP: $13,995
- Down payment: $Two,799
- Monthly car payment for fair credit: $252
- Monthly car payment for good credit: $219
- Monthly car payment for excellent credit: $173
This vehicle offers a generous decade-long warranty and is one of the least expensive cars in the class. A noisy engine, slow acceleration and elementary interior features may leave some drivers wanting more, according to Kelley Blue Book.
Four. Two thousand seventeen Ford Fiesta
- Commencing MSRP: $13,660
- Down payment: $Two,732
- Monthly car payment for fair credit: $246
- Monthly car payment for good credit: $214
- Monthly car payment for excellent credit: $168
The Fiesta comes with features such as touch-screen capability. Cargo and rear-seat space tend to be limited, so it’s not ideal for driving around groups, according to Car and Driver.
Three. Two thousand seventeen Chevrolet Spark
- Commencing MSRP: $13,000
- Down payment: $Two,600
- Monthly car payment for fair credit: $234
- Monthly car payment for good credit: $203
- Monthly car payment for excellent credit: $160
The Spark offers one of the lowest base prices, which makes it a good option for many budget consumers. It has features such as built-in Wi-Fi and touch-screen capability. Buyers with families may be deterred by its relative lack of legroom and cargo capacity.
Two. Two thousand seventeen Mitsubishi Mirage ES
- Commencing MSRP: $12,995
- Down payment: $Two,599
- Monthly car payment for fair credit: $234
- Monthly car payment for good credit: $203
- Monthly car payment for excellent credit: $160
The Mitsubishi Mirage ES also boasts a generous decade-long warranty. Being one of the cheapest cars in the class comes with some trade-offs, such as a noisy and slow-accelerating engine and a something-to-be-desired interior, according to U.S. News & World Report.
1. Two thousand seventeen Nissan Versa Sedan
- Embarking MSRP: $11,990
- Down payment: $Two,398
- Monthly car payment for fair credit: $216
- Monthly car payment for good credit: $188
- Monthly car payment for excellent credit: $148
The Versa Sedan tops the list with a spacious interior and trunk, two features many budget cars lack. For consumers looking for the smallest monthly payment — less than $150 for buyers with excellent credit — the Versa is a reliable pick.