If you’re looking to finance a new car, but don’t want your monthly payment to be too much of a burden on your budget, there are a lot of good, affordable cars on the market today that can be had with low monthly payments. With small, entry-level hatchbacks and crossovers being better than ever with more modern technology and impressive safety scores, getting a car with a low monthly payment isn’t much of a compromise anymore.
Here are seven new cars with low monthly payments for 2019. With every vehicle below, a well-qualified buyer should be able to get a monthly payment of around $300 or less with a 60-month loan and a 10% down payment.
The Kia Soul is one of our favorite subcompact crossovers and it’s all-new for 2020. One of the Soul’s many strong suits on top of its funky design, roomy interior and efficient engines is its affordable starting price of less than $18,000. If you want to keep your monthly payment below $300, you’ll be looking at the base model with either the standard manual or the available automatic transmission. A low monthly payment on a new Soul could mean driving one of the hippest new crossovers without breaking the bank. The Soul also benefits from user-friendly tech features like a great UVO infotainment system. As good as the Soul is, the noteworthy absence of all-wheel drive is still a bummer. Find a Kia Soul for sale
The Toyota Yaris subcompact sedan is Toyota’s most affordable model starting at less than $16,000. For a monthly payment of under $300, you can likely upgrade to the Yaris LE model, which adds equipment including fog lamps, a rear spoiler, push-button start, alloy wheels and more. The Yaris excels in its class in terms of great fuel economy, nimble handling and a very high-quality interior for such an affordable small car. Its tablet like infotainment system and modern gauge cluster help add to its premium feel. The Yaris is a good choice if you’re looking at affordable subcompact new cars, but prefer sedans to the more common hatchbacks of this segment. Find a Toyota Yaris for sale
The Honda Fit has long been one of our favorite subcompact hatchbacks thanks to its incredibly clever packaging, which gives way to a shockingly roomy interior for both passengers and cargo. Its versatile Magic Seat system allows you to configure the car’s interior in various ways to optimize cargo and seating space based on who or what you’re bringing with you. Another strong suit of the Fit is an affordable price tag, which translates to low monthly payments. If you’re looking to keep it under $300/month, you’ll probably have to stick with the base model, but if there’s a little more room in your budget, we recommend upgrading to the Sport model, which gives you a cool appearance package and a bigger, better infotainment system. Whether you need a frugal little commuter or even a small family car, the Fit can get the job done. Find a Honda Fit for sale
The compact Hyundai Elantra got some nice updates for 2019 like some styling changes and some added standard features including a backup camera, which help keep it competitive while remaining one of the more affordable choices in this competitive class with a starting MSRP of just $17,200. Some virtues of the affordable Elantra include a lot of cargo space, a great infotainment system and excellent fuel economy, especially if you opt for the Eco trim. The Elantra is a small sedan that is big on value, which could mean driving a nice new compact with low monthly payments under $300 for either the base SE trim or the mid-range SEL model which adds alloy wheels, an upgraded infotainment system, and some nice driver assistance tech. Find a Hyundai Elantra for sale
We love the distinct Italian charm of the Fiat 500 and what we love even more is the low monthly payment that can be had with it. This tiny Fiat is a maneuverable and agreeable urban commuter that is just as fun and full of character as it looks. It’s not ideal if you’re planning on having back-seat passengers with any regularity, but if you’re just looking for a small, affordable car for navigating through the concrete jungle, the Fiat 500 is a great way to do it. It can get a little pricey in the higher trims like the high-performance Abarth model, but you might be surprised by how affordable the 500 is at the base level, which you should be able to get in either hatchback or cabrio form for under $300/month. Find a Fiat 500 for sale
The Chevy Spark is another good option for a small, affordable city car. Being a Chevy, it’s a value-conscious hatchback with an impressive list of standard features including Android Auto, Apple CarPlay and Wi-Fi capability. It also has the option of low-speed automatic emergency braking, which is uncommon in this class. Since it has such a low starting MSRP of less than $14,000, you can get a really nice Spark for under $300/month. We like the 2LT model, which gives you leatherette seating, heated front seats, rear park assist, a driver information center and more. With a nice face-lift for the 2019 model, easy maneuverability and extremely affordable payments, there’s a lot for the budget-conscious driver to love about the subcompact Chevy Spark. Find a Chevrolet Spark for sale
The Nissan Kicks is one of the more affordable small crossovers on the market today and it offers a good value to anyone looking for a quirky little SUV. It has generous cargo space, excellent fuel economy and of course, affordable monthly payments. If you want to keep it under $300/month, you’ll likely be looking at the S trim, which is pretty well equipped with a 7-in infotainment system, Siri Eyes Free and automatic emergency braking all coming standard. Another big perk of the Kicks is a fairly roomy back seat that is actually suitable for two adults, which is a claim that not every subcompact crossover can make. Like the Kia Soul, AWD is notably absent from the option list, but that helps keep the Kicks affordable and efficient. Find a Nissan Kicks for sale