Save Money by Buying Cars for 200 Down

Many car shoppers don’t realize that it’s possible to buy +cars for 200 down, or even less! When you have the right information, you may be able to get a new car for less than you ever thought possible. Request your free no obligation car quote today and get access to dealerships in your area who are willing to offer you a great deal on the car you have your eye on!

The Importance of a Down Payment

The down payment will make a big difference when you are negotiating your new car purchase. Keep the following in mind as you determine how much you can afford, and always remember that you should negotiate the purchase price before you discuss your financing options.

1. The higher your down payment, the lower your monthly payments will be. This is simple math: the down payment is taken out of the amount of your loan, which is then divided by the number of months you take to pay it off (once you add in interest, taxes and fees). The general idea is that the more you put down up front, the more you save in the long run.

2. After you’ve paid the taxes on your car, the monthly amount you pay depends on the length of your loan. Some dealerships won’t allow loans longer than 36 months. This is because it benefits the customer and protects the dealership. Statistics show that people get tired of their cars quickly. People are more likely to default on a loan after having the car for more than three years. One of the benefits of buying a car is that it helps build credit, but defaulting on a car loan is not a good thing to have on your credit report.

3. A higher down payment also means buyers are statistically less likely to default. It makes sense that the more you’ve invested in the purchase, the more attached to it you will be. This has been proven time and again, and it makes sense: You would probably be a lot more upset about losing a car that you put $2,000 down for, than if you bought cars for 200 down.

5 New Cars With Low Monthly Payments

A number of great cars available now can be purchased with monthly payments of under $300. Read on for our picks that deliver quality and value at a low price. *Keep in mind that these deals serve as examples and may change without warning.

Chevrolet Sonic LTZ
Chevrolet’s subcompact Sonic has a fuel-efficient 4-cylinder engine, getting 35 miles per gallon on the highway. The four-door LTZ features a surprisingly roomy back seat. If your budget is limited to $300 per month, the Sonic LTZ is a great choice. However, keep in mind that this only covers the manual transmission model, so drivers who need an automatic will need to downgrade to the LT model.

Honda Fit
The Honda Fit is a 5-door hatchback, available in two different trim levels. Budget-conscious shoppers will prefer the standard Fit over the Fit Sport, which costs about $2,000 more. However, the base-model Fit features just about everything most drivers need, including cruise control, keyless entry, USB and auxiliary plug-ins for audio, and a split-folding rear seat. The Sport model’s upgrades are mostly in its appearance, with fog lights and alloy wheels. But the base-level Fit with an automatic transmission still comes in at under $300 per month.

Kia Soul +
If you’re looking for a little more personality for your buck, the five door Kia Soul + may be right for you. The five-door hatchback is unmatched in style, and offers great amenities. It includes features such as cruise control, keyless entry, air conditioning, Sirius satellite radio, and 16” alloy wheels. It’s a star for safety too, including anti-lock brakes and traction control, as well as side-curtain airbags.

FIAT 500 Sport
The FIAT 500 is another model that offers a lot of personality, albeit in a small package. Its 4-cylinder engine gets 30 mpg for city and 38 mpg for highway driving. The mid-level Sport option comes in at under $300 a month with a long list of features, including air conditioning, Bluetooth, an auxiliary plugin for audio, steering wheel audio controls and keyless entry.

Ford Fiesta SE
While many at this price point will be inclined to choose a base-level Ford Focus, we recommend you give the Fiesta SE a try. Monthly payments can work out to about $270 per month. The Fiesta SE is also well equipped with standard features including keyless entry, power windows and air conditioning. Also included is Ford’s SYNC infotainment system with USB and auxiliary inputs.

When you’re shopping for +cars for 200 down, it helps to have all the facts before you head to the dealership. Request your free car quotes today and receive competing offers from dealerships in today!