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-April 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
Please Buy This $6,800 Toyota Celica All-Trac So I Don't Have To
Please Buy This $6,800 Toyota Celica All-Trac So I Don't Have To
Ah, shit. There’s a Celica All-Trac for sale, and it’s only $6,800. Oh no. Over the past few years, I have grown increasingly obsessed with . Corollas. Cressidas. Crestas. Even a Carina fascination bubbles up every so often. Old cars to drive sideways on pavement. What I have largely...
Apr 19, 2026
Why Is Car Buying Especially Terrible For Women And What Should Be Done About It?
Why Is Car Buying Especially Terrible For Women And What Should Be Done About It?
As Jalopnik’s resident car buying expert and professional car shopper, I get emails. Lots of emails. I’ve decided to pick a few questions and try to help out. This week we are discussing why dealerships especially suck for women, the best off-lease sedans, and the choice between a new...
Apr 19, 2026
The 2019 Lincoln Navigator Is A Glorious Return To American Opulence
The 2019 Lincoln Navigator Is A Glorious Return To American Opulence
We never had kings or queens here in America. (Well, we did before we were our own country, but we showed those fools what we really thought of them.) If we did, though, they’d all be driving 2019 . The car is flush with splendor, rich with opulence and...
Apr 19, 2026
At $43,000, Is This 2015 Porsche Cayenne The Brown Diesel Wagon We All Want?
At $43,000, Is This 2015 Porsche Cayenne The Brown Diesel Wagon We All Want?
When you think of legendary Porsche products, cars like today’s Cayenne probably won’t be at the top of the list. The diesel model’s lack of popularity has driven extraordinary depreciation, meaning perhaps more of us could drive it as well. Provenance is a word that describes an object or...
Apr 19, 2026
Used Cars Cost Almost Double What They Did Nine Years Ago
Used Cars Cost Almost Double What They Did Nine Years Ago
The last time I bought a used car it set me back $9,000, which, according to new data from Edmunds, is just over average for a used car in 2019. That number is almost 75 percent higher than it was in 2010. The data says that thanks in part...
Apr 19, 2026
If You Are Going To Buy A Family Car, Don’t Forget The Family Part
If You Are Going To Buy A Family Car, Don’t Forget The Family Part
People buy vehicles for all kinds of reasons. Some of them are rational, and some of them are emotional. There is nothing wrong with buying a car because it’s fast, or stylish, or it just makes you feel good when you drive it. However, when the primary objective is...
Apr 19, 2026
Copyright 2023-2026 - www.zzdcar.com All Rights Reserved