Find the Best New Vehicles with Cheap Car Payments

Nowadays, car buyers are looking for value for their money; they want a great car with cheap car payments. Automakers have responded to consumer demand, producing better-quality vehicles than ever before. Read on to find out how you can get a great new ride with cheap car payments and request your free no obligation to buy new car quote today! NCP

Five New Cars with Low Monthly Payments

You may be surprised to learn that you can buy a brand new car with cheap car payments, with some as low as $300 per month. We found five great examples, for our calculations, we assumed an average 3.7 percent APR and a 65 month loan term, along with a 10 percent down payment.

Chevrolet Sonic LTZ
Drivers on a budget will love the Chevrolet Sonic for its fuel-efficient engine. The 4-cylinder gets 35 miles per gallon on the highway. It has 4 doors and the back seat is surprisingly roomy. If your budget is under $300 per month, we recommend checking out the Sonic LTZ.  Features include heated leather seats, cruise control, and Bluetooth as well as head-protecting side curtain airbags and knee airbags.

Ford Fiesta SE
While you may be tempted to spend your $300 per month budget on a base-level Ford Focus, you should really consider the brand's Fiesta SE instead. It starts at about $17,000, which comes to a mere $270 per month. You could use the extra cash for added features, but you'll find that it's already quite well-equipped. It has remote keyless entry, air conditioning, and power windows as well as Ford's SYNC infotainment system and a USB and auxiliary outlet for audio.

Honda Fit
The 5-door hatchback Honda Fit is available in two trim levels: the standard Fit and the Fit Sport. We recommend going with the base-model Fit. This model offers just about everything most drivers need, such as keyless entry, cruise control, USB interface and auxiliary outlet, and a split-folding rear seat. The Fit Sport's upgrades can be seen in the appearance, through amenities such as fog lights and alloy wheels. Best of all, you can get the Fit with automatic transmission for cheap car payments of under $300 per month.

Kia Soul +
If you're looking for style, consider giving the Kia Soul +. With a long list of features like keyless entry, air conditioning, cruise control, and SiriusXM satellite radio, you get a lot for under $300 per month. It also features 16-inch alloy wheels and anti-lock brakes, advanced traction and stability control, and side curtain airbags.

Hyundai Accent SE

The newly redesigned Hyundai Accent is a remarkable compact model. Of its three trim levels, we prefer the top-tier SE hatchback. With a base price of less than $17,000, you can walk away with cheap car payments of about $270 per month. This 5-door vehicle boasts an impressive list of standard features like cruise control and power windows, a 172-watt sounds system with auxiliary and USB input, and Bluetooth.

Getting a Favorable Car Loan and Cheap Car Payments

There are several factors to consider when buying a new car, and one of the most important is financing. Here are some points to remember so that you can get the best possible car loan:

Be Aware of Your Credit Situation

Once you've decided to buy a new car, one of the first things you should do is to review your credit report. You can get a free report from each of the three major credit reporting agencies each year. Get any mistakes sorted out so that your score is as high as possible.

Even if you have good credit, know that many people don't qualify for the 0% financing offers advertised. Experts say that about 9 out of ten people will end up paying a higher rate.

Shop Around for Financing

Many experts recommend avoiding dealer financing altogether. You should get preapproved for a car loan before you head to the dealership. Some places to look for financing include local banks and credit unions and online financing sources. While multiple credit inquiries can drag down your credit score, you have 30 days in which multiple lenders can pull your credit and it only counts as one inquiry.

Dealers can add to your interest rate to gain profit, so going in with APR quotes from other lenders is the best way to determine whether the financing being offered by the dealer is a good rate. You can also use the rate you've already been preapproved for to negotiate a better rate from the dealer.

Beware of dealers who offer to pay off the existing loan on your trade-in. They often “hide” that amount in your new car loan.

Don't Be Upsold

Dealerships' profit margins have decreased in recent years, thanks to the wealth of information available to buyers to compare prices. Shoppers looking for cheap car payments can compare offers online before arriving at the showroom. In order to compensate, dealers are increasingly reliant on extra services like financing and service departments.

Many car salespeople will try to pitch extras like rustproofing, undercoating and extended warranties that are either unnecessary or can be bought for less elsewhere. Before you agree to any of these, see if someone else can give you a better deal.

Avoid the Yo-Yo Trap

There is no shortage of horror stories from car shoppers who were subjected to bait-and-switch sales tactics at the car dealership. The salesperson will offer “conditional” financing, allowing the buyer to take the new car home thinking that they have negotiated cheap car payments. Then, a few days later, the dealer calls saying that the financing has fallen through. The buyer is then forced to choose between higher payments or returning the car and paying exorbitant “rental” fees. Some are even told that their down payment is non-refundable. Avoid this trap by refusing to take delivery of the car before financing is finalized.

Smart shoppers are informed before they head to the dealership. For cheap car payments from dealers in your area request your FREE new car quote today and see how easy it can be to get into a great new car for less!