LOS ANGELES, July 6, 2016 /PRNewswire/ — To help consumers who are in the market for a new, affordable car GOBankingRates.com released a list of popular cars on sale now for $300 or less a month.
See the full list here:
https://www.gobankingrates.com/car-loans/cars-can-own-under-month/
From Honda, Chevrolet, Jeep, Ford and 11 other car manufacturers, 52 vehicles were identified using the following factors:
- Manufacturer MSRP
- 20 percent down payment
- 5-year auto loan term
- APR based on excellent, good and fair credit
Most Budget-Friendly Car
- The 2016 Nissan Versa Sedan tops the list as the most budget-friendly vehicle, with a monthly car payment as low as $172
Budget Friendly Cars for People with Excellent Credit (Price for monthly payment cost)
American Manufacturers
- Chevrolet: Spark ($182) , Sonic ($206), Cruze ($251) and Trax ($292)
- Dodge: Dart ($244)
- Ford: Fiesta ($203) and Focus ($248)
- Jeep: Patriot ($254), Renegade ($259) and Compass ($283)
Foreign Manufacturers
- Fiat: 500 ($244) , 500L ($280) and 500X ($287)
- Honda: Fit ($228), Civic Sedan ($268), Insight ($269), Civic Coupe ($274) and CR-Z ($292)
- Hyundai: Accent ($212), Elantra ($247), Veloster ($259) and Elantra GT ($270)
- Kia: Rio ($204), Rio 5-door ($223), Soul ($229), Forte ($230), Forte5 ($260) and Forte Koup ($286)
- Mazda: Mazda3 4-Door ($257), Mazda3 5-Door ($267) and CX-3 ($287)
- Mitsubishi: Mirage ($187), Mirage G4 ($201), Lancer ($253) and Outlander Sport ($282)
- Nissan: Versa Sedan ($172), Versa Note ($205), Sentra ($241), Frontier ($263), Rogue Select ($290) and Juke ($291)
- Scion: iA ($253) and iM ($287)
- Smart: Fortwo ($211)
- Toyota: Yaris ($214), Corolla ($249) and Prius C ($281)
- Volkswagen: Jetta ($254), Beetle ($285) and Golf ($290)
Affordable Rides for People with Good Credit
- Chevrolet: Spark ($225) and Sonic ($255)
- Ford Fiesta ($251)
- Honda Fit ($283)
- Hyundai Accent ($262)
- Kia: Rio ($252), Rio 5-door ($276), Soul ($283) and Forte ($285)
- Mitsubishi: Mirage ($231) and Mirage G4 ($249)
- Nissan: Versa Sedan ($213), Versa Note ($253) and Sentra ($299)
- Smart Fortwo ($261)
- Toyota Yaris ($265)
Affordable Cars for People with Fair Credit
- Chevrolet: Spark ($252) and Sonic ($285)
- Ford Fiesta ($280)
- Hyundai Accent ($293)
- Kia Rio ($282)
- Mitsubishi: Mirage ($258) and Mirage G4 ($278)
- Nissan: Versa Sedan ($238) and Versa Note ($283)
- Smart Fortwo ($291)
- Toyota Yaris ($296)
The prices for all cars listed above are for the newest models on the market, ranging from 2014 to 2017.
“Owning a car does not have to be detrimental to your finances,” said Kristen Bonner, lead researcher on the study. “No matter your credit, you still have a wide range of models to choose from that will accommodate your wants and needs.”
