Find The Best Low Income Car For Your Budget !

A limited budget doesn't mean you have to settle for a less-than-perfect car. Low income car options are everywhere, if you know where to look. Request your free new car quote today and take advantage of offers from dealerships in your area who are eager to offer you a great deal! It's fast, it's easy and best of all it's 100% free!

6 Great Low Income Cars

Nissan Versa 1.6 S
You might have expected one of the least expensive new cars in the US to be tiny, think again! Nissan's mid-size Versa sedan offers a surprising value for money, providing as much space at a cost of a little more than half of what you'd pay for a base-model Toyota Camry. The Versa comes standard with A/C and a CD stereo, and you can add additional options at very reasonable prices. A well-equipped Versa with power locks and windows, automatic transmission, Bluetooth, alloy wheels, and a navigation system!

Chevrolet Spark LS
This tiny model features a big personality with low income car payments, it offers fresh design and bold color options so you can be sure to find something for your lifestyle. The price, which hasn't changed since it was introduced in 2013, includes power windows, alloy wheels, A/C, and ten (yes, ten!) airbags. Its small size makes it a great city car, perfect to get you from A to B in a flash.

Kia Rio
One downside that those looking for a low income car have to deal with is that their cars often ‘look' cheap. That's what sets the Kia Rio apart. It has a cool, modern appearance that makes this low cost vehicle feel like a pricier model. Add to that the fact that you can upgrade to a hatchback for only $200 more, and the Rio is a real bargain. It comes standard with a fuel-efficient engine, A/C, and a CD stereo with USB input.

Chevrolet Sonic LS
Chevy's Sonic LS a great pick for low income car shoppers, with features like a stylish interior and a powerful 1.8 liter engine. It's also the only one on our list that's made in the U.S.A. With its sporty yet substantial feel, the Sonic also features amenities such as alloy wheels, air conditioning and ten airbags, more than you would find on many luxury models.

Honda Fit Base
The Honda Fit is a shining example of a subcompact car, that thanks to its impressive engineering, can actually carry as much as a smaller SUV. The roominess and comfort of its backseat will surprise you, and you can actually split and fold it in different configurations to accommodate oddly shaped cargo. This highly useful car also boasts a high resale value, offsetting the higher cost compared to some on our list.

Toyota Yaris L 3-door
The best feature of Toyota's Yaris is its great reliability. While there are many well-built cars on the market, experts say the Yaris is as close as you can get to a sure thing. The 3-door model features air conditioning, stereo with USB input, and nine airbags. If you plan to drive your new car for ten years or more, the Yaris is a good pick that will be in it for the long haul.

The Importance of a Down Payment

The amount you are willing to put down is an important factor in what kind of deal you'll be able to get on a new car. Low income car payments may be available; keep in mind these points when shopping for your new car.

1. The first thing to keep in mind is that the bigger a down payment you make, the lower your monthly payments will be. Your down payment can be used reduce the amount of the loan. If your loan amount is lower, that's money you don't have to pay interest on. When you take into consideration your interest rate, putting an extra $1,000 down could save you several thousands over the life of the loan.

2. Another thing that affects the amount of your monthly payments is the loan term. Shorter loan terms are better for both buyers and dealers; the quicker you pay off the loan, the less interest you will have to pay. And on the dealer's end, buyers are statistically less likely to get tired of the car and default on payments.

3. The size of your down payment also affects the risk the dealer is taking on the loan. Because someone is more likely to feel attached to a car if they have put several thousand dollars into it than if they have only paid a few hundred, higher down payments reduce the risk of default.

Because of these factors, you should choose a loan term that is going to be feasible for you and your lifestyle, combined with the highest downpayment you can afford. This way, you'll be in a good position to negotiate a great price on a new car. Request your free new car quote and see what offers you can get from dealers in your area today!