36 New Cars With Payments Under $300 a Month

According to a recent report by USA Today, the average monthly car payment is just shy of $500 a month...$480 a month to be exact.

If there's two vehicles in the household and you add insurance payments, fuel and preventive maintenance on the vehicles, you're looking at well over $1,500 for just your transportation budget.

Contrary to popular belief, you don't have to pay a huge monthly payment to drive a nice vehicle. There are several brand new cars that can be financed for under $300 a month. Vehicles such as the Honda Civic, Kia Soul, and Jeep Patriot to name just to name a few.

Below is a list of 36 vehicles that are not only affordable, but are also some of the most popular cars of 2015. According to Kelley Blue Book, The Jeep Patriot is the cheapest compact sport utility on the road in 2015...A 60 month loan payment will cost you about $242 a month.

The 2015 Toyota Corolla is on the list at $246 a month. According to CarsDirect, it's one of the most reliable vehicles on the road when it comes to higher mileage. What this means to you, is it will hold it's value for much longer than some of it's competitors.

How payments are figured: Payments are calculated using the full list price (MSRP) provided by the manufacturer, 20 percent down with a prime interest rate of 3.44% for a 60 month term.

36 New Cars that can be Financed for Under $300 a Month

Rank Make and Model MSRP Down Pymt Monthly Pymt
1 2015 Nissan Versa $11,990 $2,398 $174 a month x 60
2 2015 Chevrolet Spark $12,270 $2,454 $178 a month x 60
3 2015 Mitsubishi Mirage $12,995 $2,599 $189 a month x 60
4 2015 Smart Fortwo $13,270 $2,654 $193 a month x 60
5 2015 Ford Fiesta $13,965 $2,793 $203 a month x 60
6 2015 Kia Rio $13,990 $2,798 $203 a month x 60
7 2015 Nissan Versa Note $14,180 $2,836 $206 a month x 60
8 2015 Chevrolet Sonic $14,285 $2,857 $207 a month x 60
9 2014 Mazda Mazda2 $14,720 $2,944 $214 a month x 60
10 2015 Hyundai Accent $14,745 $2,949 $214 a month x 60
11 2015 Toyota Yaris $14,845 $2,969 $216 a month x 60
12 2015 Kia Soul $15,190 $3,038 $221 a month x 60
13 2015 Honda Fit $15,650 $3,130 $227 a month x 60
14 2015 Kia Forte $15,890 $3,178 $231 a month x 60
15 2015 Chevrolet Cruze $16,170 $3,234 $235 a month x 60
16 2014 Scion iQ $16,435 $3,287 $239 a month x 60
17 2015 Nissan Sentra $16,480 $3,296 $239 a month x 60
18 2015 Dodge Dart $16,495 $3,299 $239 a month x 60
19 2015 Jeep Patriot $16,995 $3,339 $243 a month x 60
20 2014 Nissan Cube $16,900 $3,380 $300 a month x 60
21 2015 Toyota Corolla $16,950 $3,390 $246 a month x 60
22 2015 Fiat 500 $17,145 $3,429 $249 a month x 60
23 2015 Ford Focus $17,170 $3,434 $250 a month x 60
24 2015 Hyundai Elantra $17,250 $3,450 $251 a month x 60
25 2015 Volksvagen Jetta $17,325 $3,465 $252 a month x 60
26 2014 Scion xB $17,740 $3,548 $258 a month x 60
27 2015 Nissan Frontier $17,990 $3,598 $261 a month x 60
28 2015 Jeep Renegade $17,995 $3,599 $262 a month x 60
29 2015 Hyundai Veloster $18,000 $3,600 $262 a month x 60
30 2015 Honda Civic $18,290 $3,658 $266 a month x 60
31 2015 Kia Forte Koup $18,590 $3,718 $270 a month x 60
32 2014 Honda Insight $18,725 $3,745 $272 a month x 60
33 2016 Hyundai Elantra GT $18,800 $3,760 $273 a month x 60
34 2015 Toyota Prius C $19,540 $3,908 $284 a month x 60
35 2014 Hyundai Elantra Coupe $19,600 $3,920 $285 a month x 60
36 2015 Kia Forte5 $19,690 $3,938 $286 a month x 60

If you're considering to buy a new car in 2015. Use an online service to get the best price and not have to worry about dealing with frontline car salesman at the dealership. I recommend TrueCar and CarClearanceDeals to request free no-obligation price quotes.

These companies will let you know what others are paying for the vehicle you're considering, and also what dealers in your local area are more willing to discount the vehicle for you.