zzdcar
Home
/
Reviews
/
Buying
/
Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month
Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month-May 2024
2024-02-19 EST 22:09:36

Image for article titled Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month

Coronavirus is already having a dramatic impact on the economy and finances are going to be tight for a lot of people. Once everyone is back to work (), some of you may still need to get a new set of wheels. Here is a sampling of some solid rides, without blowing your budget.

Even though most car-buying experts say to focus on the total cost, most people still look at vehicle purchases through the lens of monthly payments. This isn’t necessarily a bad thing as long as consumers are viewing payments from the perspective of what they can afford and setting their budgets accordingly. Before the epidemic hit, t and far too many people were stretching themselves to make that payment.

The average new car payment is $551 per month, that is up ten percent compared to three years ago.…

I’ve discussed before the danger of “overbuying” cars and getting more than you need and in doing so putting your self in a financial situation that could be dangerous if economic hardship hits. For millions of people that scenario has happened, and now it may be time to reevaluate their car buying strategy.

I’m going to show you some quality vehicles that you can put in your driveway for under $400 per month. However, before we dive in it’s important for me to put into context how I arrived at that $400 payment. Using a loan calculator I was able to plug in payments of $400. I set an interest rate of five percent (depending on your credit this APR may be higher or lower). I also set a term of 60 months. You can put in longer terms and increase the budget accordingly, but in doing so you risk putting yourself in an underwater situation. This means our total spending limit is about $21,000.

Image for article titled Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month

Of course, you can purchase any number of quality pre-owned cars for under $21,000 but this is for the folks who don’t have the time or the inclination to filter through pre-owned listings and prefer a brand new car with a full warranty. And this is just a sampling and is by no means an exhaustive list.

Sedan - Chevy Malibu

Image for article titled Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month

Finding smaller sedans like a Toyota Corolla or Hyundai Accent is easy in the sub-$20,000 market but sometimes you need something a bit bigger and more comfortable especially if you have multiple passengers. The Malibu will be discontinued as a new model, but not because it was a bad car, it just wasn’t a good enough seller for GM when everyone wants a crossover.

Hatchback - Mazda3

Image for article titled Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month

The is a staff favorite for obvious reasons: It’s a blast to drive, loaded with tech, and feels like a car that is a lot more expensive. There are a number of cheaper alternatives for a similar price point, but if you are commuting in the Mazda you will never feel like you skimped out on getting a nice car for a reasonable payment.

Hybrid - Kia Niro

Image for article titled Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month

You can keep your payments in check and save money at the pump with a car that is both practical and fun. The Niro is a blend between a crossover, hatchback, and a wagon. It comes standard with a lot of great tech, and is rated to return up to 51 MPG in city driving.

Crossover - Hyundai Tuscon

Image for article titled Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month

I chose what most would consider a real “crossover” and not a small lifted hatchback with AWD and limited space. The Tuscon comes standard with Andriod Auto/Apple Car Play and a slew of safety tech. While the Tuscon’s 22/25 MPG rating isn’t awesome, it’s reasonably fuel-efficient for its size and you get a comfortable and solid car with a long warranty to get the job done.

Truck - Dodge 1500 Tradesman

Image for article titled Here Are Some Very Good Brand New Cars You Can Get For Under $400 Per Month

You won’t get a fancy truck for under $21,000, but if you need an actual truck for your job that can tow and haul, you don’t need to spend $40,000 or more on what are basically luxury cars with 4x4 and a bed. There are a number of basic “work trucks” with some heavy discounts. If you don’t need something as big as the 1500 you can also find plenty of low-spec Colorados and Frontiers.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Let’s cut right to the chase: buying a is not a good idea unless you have deep enough pockets for the upkeep. For those not in the know, they’re sirens. They draw you in with their premium Italian image and sweet songs of and then go in for the...
May 15, 2025
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
The (and Tacoma) have a death grip on used values. It’s been this way for years. Go ahead, go try and buy any TRD trim that’s a couple of years old; it’ll cost you as much as a new one — not that you could buy a new one...
May 15, 2025
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
One of the calling cards of today’s Plymouth Colt is its “Twin Stick” overdrive gear change, which gives the car eight speeds going forward and two in reverse. Let’s see if this project car has anything else to offer. Just as Goldilocks discovered when appropriating Papa Bear’s lifestyle and...
May 15, 2025
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
Today’s Mustang is being sold by a towing yard, which means it’s probably a lien sale. Let’s see if this clean title convertible is priced to put a new buyer on the hook. The general consensus on last Friday’s was that it would be the perfect car for someone...
May 15, 2025
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
According to its seller, today’s Nissan 4X4 shows “pride of ownership.” Let’s see if it would take swallowing one’s pride to pay its asking price. Opinions were split on how well the design of yesterday’s has held up over the years. Some of you commented that the design still...
May 15, 2025
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
The seller of today’s Caddy claims they should be selling it at auction but says who’s got time for that? Let’s see if we have the time for this custom convertible at its non-auction price. Many of you agreed that the $950 asked for yesterday’s was “chump change.” Even...
May 15, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved