So you want to buy a car for $250 a month or less? At the high end of the range, you should be looking at cars in the neighborhood of $18,000, as 72 payments of $250 per month would equate to vehicles of this price. Of course, if you can provide a down payment – and you should if at all possible – you could finance a lesser amount for a shorter term, pay less in interest, and still keep your payment in the $250 a month range.
Here are the six best cars to finance or lease for under $250 a month:
- The Chevrolet Sonic 1.8 LT, $17,455 as tested, made the list for its peppy, yet fuel-efficient, 1.8-liter four-cylinder engine, giant trunk, and responsive ride. The publication also says the Sonic is a reliable car as well.
- The subcompact Honda Fit four-door hatchback, $16,915, is a good buy due to its spacious interior and smooth, responsive, though admittedly not powerful, ride. Moreover, the fit rates at 30 mpg as an automatic and 33 as a manual.
- The Hyundai Accent GLS, $16,320, is a solidly reliable subcompact that is available as either a hatchback or sedan. Though it does not have any outstanding features, it performs well in all areas in the eyes of “Consumer Reports.”
- The Kia Rio EX sedan, $17,545, makes the list for its solid feel and the direct-injection technology of its 138-horsepower, 1.6-liter four-cylinder engine. Over its first year, it has proven to be more reliable than average.
- The subcompact Mazda2 Touring hatchback, $17,845, is my favorite car on this list. It is a fun and nimble ride with a roomy backseat. Its main weakness is its high road and engine noise.
- The Scion xD, $16,900, is the perfect car for those who want to get from here to there with no hassle and fewer thrills. The Scion XD’s expansive interior and 34 mpg rating (manual) makes it easy to overlook the way it shakes on the highway.
