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36 New Cars With Monthly Loan 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 its value for much longer than some of its 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

RankMake and ModelMSRPDown PymtMonthly Pymt
12015 Nissan Versa$11,990$2,398$174 a month x 60
22015 Chevrolet Spark$12,270$2,454$178 a month x 60
32015 Mitsubishi Mirage$12,995$2,599$189 a month x 60
42015 Smart Fortwo$13,270$2,654$193 a month x 60
52015 Ford Fiesta$13,965$2,793$203 a month x 60
62015 Kia Rio$13,990$2,798$203 a month x 60
72015 Nissan Versa Note$14,180$2,836$206 a month x 60
82015 Chevrolet Sonic$14,285$2,857$207 a month x 60
92014 Mazda Mazda2$14,720$2,944$214 a month x 60
102015 Hyundai Accent$14,745$2,949$214 a month x 60
112015 Toyota Yaris$14,845$2,969$216 a month x 60
122015 Kia Soul$15,190$3,038$221 a month x 60
132015 Honda Fit$15,650$3,130$227 a month x 60
142015 Kia Forte$15,890$3,178$231 a month x 60
152015 Chevrolet Cruze$16,170$3,234$235 a month x 60
162014 Scion iQ$16,435$3,287$239 a month x 60
172015 Nissan Sentra$16,480$3,296$239 a month x 60
182015 Dodge Dart$16,495$3,299$239 a month x 60
192015 Jeep Patriot$16,995$3,339$243 a month x 60
202014 Nissan Cube$16,900$3,380$300 a month x 60
212015 Toyota Corolla$16,950$3,390$246 a month x 60
222015 Fiat 500$17,145$3,429$249 a month x 60
232015 Ford Focus$17,170$3,434$250 a month x 60
242015 Hyundai Elantra$17,250$3,450$251 a month x 60
252015 Volksvagen Jetta$17,325$3,465$252 a month x 60
262014 Scion xB$17,740$3,548$258 a month x 60
272015 Nissan Frontier$17,990$3,598$261 a month x 60
282015 Jeep Renegade$17,995$3,599$262 a month x 60
292015 Hyundai Veloster$18,000$3,600$262 a month x 60
302015 Honda Civic$18,290$3,658$266 a month x 60
312015 Kia Forte Koup$18,590$3,718$270 a month x 60
322014 Honda Insight$18,725$3,745$272 a month x 60
332016 Hyundai Elantra GT$18,800$3,760$273 a month x 60
342015 Toyota Prius C$19,540$3,908$284 a month x 60
352014 Hyundai Elantra Coupe$19,600$3,920$285 a month x 60
362015 Kia Forte5$19,690$3,938$286 a month x 60

Source: gobankingrates

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 Ryde Shopper and Motor Trend 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.