Dealers can advise car buyers that they don’t have to spend a fortune on a popular car — some vehicles can be financed under $300 a month.
GOBankingRates.com, a personal finance portal in the U.S., looked into dozens of affordable vehicles and consolidated their feedback with top car experts to come up with their list of the top 36 vehicles that can be currently be financed under $300 a month.
The experts determined their vehicles by calculating monthly payments based on the starting MSRP provided by the auto manufacturer, assuming a 20 per cent down payment, a five-year term length and an interest rate of 3.44 per cent—pulled from the Informa Research Services’ database on April 1, 2015.
Here’s a list of 36 vehicles with car payments that fall under $300 a month. While these are U.S. figures, the list is helpful for Canadian dealers to assess which vehicles are the most affordable.
- 2016 Hyundai Elantra GT
- 2015 Hyundai Veloster
- 2015 Volkswagen Jetta
- 2015 Hyundai Elantra
- 2015 Toyota Yaris
- 2015 Hyundai Accent
- 2015 Toyota Prius c
- 2015 Honda Fit
- 2015 Toyota Corolla
- 2015 Honda Civic
- 2015 Smart Fortwo
- 2015 Ford Focus
- 2015 Nissan Versa Note
- 2015 Ford Fiesta
- 2015 Nissan Versa
- 2015 Fiat 500
- 2015 Nissan Sentra
- 2015 Dodge Dart
- 2015 Nissan Frontier
- 2015 Chevrolet Spark
- 2015 Mitsubishi Mirage
- 2015 Chevrolet Sonic
- 2015 Kia Soul
- 2015 Chevrolet Cruze
- 2015 Kia Rio
- 2014 Scion xB
- 2015 Kia Forte5
- 2014 Scion iQ
- 2015 Kia Forte Koup
- 2014 Nissan Cube
- 2015 Kia Forte
- 2014 Mazda Mazda2
- 2015 Jeep Renegade
- 2014 Hyundai Elantra Coupe
- 2015 Jeep Patriot
- 2014 Honda Insight
