New Cars Under $200 per Month

New Cars Under $200 per Month

Harry Lloyd

Cars Under 200 per Month

Low monthly payments

For most people, it's pretty hard to relate to the big MSRP numbers. It's much easier for people to understand how expensive a car is based on how much money they will pay per month for it. Telling people they will pay $11000 for a car is not really as real to them as saying you will pay $200 a month.

The ideal situation for car buyers would be to buy cars under 200 per month. This is a very budget friendly number, and even people in the tightest financial situations can squeeze this payment in.

Here are some of the cheapest cars that you could get for less than $200. For each of these vehicles, the cheapest available model is chosen and the sales tax is 6%, for argument's sake. We will assume there is a 3% interest rate over a 60 month loan term.

Nissan Cars Under 200 Dollars a Month

2012 Nissan Versa	Price	Down Payment	Car Payment per Month
	$11,183	$1000	$195
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New Smart Cars Under 200 per Month

2012 Smart Fortwo	Price	Down Payment	Car Payment per Month
	$12,141	$1700	$200
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Hyundai Cars for Under $200 Month

2012 Hyundai Accent	Price	Down Payment	Car Payment per Month
	$12,753	$2400	$199
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Kia Monthly Car Payment Under $200

2012 Kia Rio	Price	Down Payment	Car Payment per Month
	$13,501	$2900	$205
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New Ford Cars for Less than $200 a Month

2012 Ford Fiesta	Price	Down Payment	Car Payment per Month
	$13,522	$2900	$205
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2012 Chevy Cars for $200 per Month

2012 Chevy Sonic	Price	Down Payment	Car Payment per Month
	$14,276	$3800	$203
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Making it happen

To get this cheap monthly payment, you need to understand the different factors that determine your payment. To get a low payment, you obviously are limited to the cheapest new car deals in the nation.

It's also very important what kind of car financing you get. First off, to qualify for low interest rates, which are critical in getting a low payment per month, you need to have good credit. Extending the length of the loan to 60 months or even longer will cost you more interest in the long run, but it will lower your monthly payment.

You also need to put as big of a down payment as you can. Bigger down payments mean you are borrowing less money, so you have less to pay back. This is the easiest and perhaps most important way to lower your monthly payment, since you may not be able to control what rates or loan length you can get.

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