Auto Credit Express Blog

The Automotive and Financial Information Source for People with Special Credit Needs.

We can help you get easy auto financing or a cheap car loan in minutes!

Car

Get a Car Loan in April

Car shoppers with poor credit considering something new this month should check out the following list of the ten cheapest new cars to buy in April
Get a Car Loan in April
Answering new car questions

Here at Auto Credit Express a question we get quite often from consumers visiting our website, the majority of whom have credit issues, is “if I have bad credit can I get a car loan?” In many cases they also want to know if they can finance a new car.

The answer to the first question, in most instances, is yes.

The answer to the second question is that it usually depends upon the payment call the dealer receives from the lender. We know this answer might not seem that helpful, but we also know it’s an accurate one. That’s because for the past two decades we’ve been helping car buyers with questionable credit find those new car dealers that can give them their best opportunities for auto loan approvals.

Car choices for buyers with damaged credit

Most credit-challenged buyers will end up financing a lower-mileage used car. But in some instances even these consumers are given an option – one that largely depends on factors such as income, credit history and the programs offered by their particular lender – and that is an affordable new car.

Buying new has its advantages. New cars are reliable and are covered by a manufacturer’s warranty as well as, in most states, vehicle lemon laws.

As with used cars, choosing a subcompact or compact new car will save on interest charges as well as gas and car insurance costs. Also, choosing the shortest finance term possible will enable buyers to be in a position to re-finance or take out a new loan at a lower interest rate even sooner.

One more thing: according to a recent study by Kelley Blue Book, depending on the model some new cars are nearly as affordable as their used counterparts.

“Used compacts have been in high demand with fuel prices nearly $3.42 per gallon nationally, and values have held strong as a result,” said Alec

Gutierrez, senior market analyst of automotive insights for Kelley Blue Book.  “A consumer looking to save at least $100 or more per month on a used car would need to consider a model-year 2009 or older, which likely would have 50,000 miles or more on the odometer.  While the difference between new and used pricing is relatively low for the segment, there are several models that offer nearly identical pricing whether new or slightly used.”

Most affordable new cars for April

With that in mind we’ve taken the most affordable new cars and eliminated those that typically don’t make sense – such as the smart fortwo (too small and not versatile enough for most buyers). To vary the list as much as possible, we’ve also stuck to the least expensive trim level for each model.

Since an automatic transmission is typically an additional $1,000 we thought you could do the math. Besides, it allows us to list even more models – although we have listed different body styles (sedan, hatchback) separately.

Here it is:

#10 – 2013 Hyundai Accent 1.6L GLS 4-door sedan, 6-speed manual
Base price – $15,340
Rebate – $0
Price before taxes – $15,340

#9 – 2013 Kia Soul 1.6L base 4-door wagon, 6-speed manual
Base price – $15,175
Rebate – $0
Price before taxes – $14,650

#8 – 2013 Toyota Yaris L 1.5L 3-door hatchback, 5-speed manual
Base price – $15,165
Rebate – $0
Price before taxes – $15,165

#7 – 2013 Chevrolet Sonic 1.8L LS 4-door sedan, 5-speed manual
Base price – $14,995
Rebate – $0
Price before taxes – $14,995

#6 – 2013 Ford Fiesta S 1.6L 3-door hatchback, 5-speed manual
Base price – $14,995
Rebate – $250
Price before taxes – $14,745

#5 – 2013 Kia Rio 1.6L LX 3-door hatchback, 6-speed manual
Base price – $14,550
Rebate – $0
Price before taxes – $14,550

#4 – 2013 Kia Rio 1.6L LX 4-door sedan, 6-speed manual
Base price – $14,350
Rebate – $0
Price before taxes – $14,350

#3 – 2013 Ford Fiesta 1.6L S 4-door sedan, 5-speed manual
Base price – $13,995
Rebate – $250
Price before taxes – $13,745

#2 – 2013 Chevrolet Spark LS 1.2L 3-door hatchback, 5-speed manual
Base price – $12,995
Rebate – $0
Price before taxes – $12,995

#1 – 2013 Nissan Versa S 1.6L 4-door sedan, 5-speed manual
Base price – $12,780
Rebate – $0
Price before taxes – $12,780

The least expensive car to buy in April is the 2013 Nissan Versa sedan that sells for less than $13,000 before taxes and has one of the largest dealer networks in the U.S. Since this Versa is the entry-level model, even though it’s a 2013 it may take some patience finding one.

The Bottom Line

Most consumers even if they have bad credit can get a car loan if they meet the income, debt to income and payment to income requirements of higher risk lenders. In some instances, they can even qualify for a new car.

If you’re given this option, choosing from this list of affordable new cars such as the Ford Fiesta, Kia Rio and Toyota Yaris is a great way to enjoy the reliability and comprehensive warranty coverage that goes along with that new car smell.

One more thing we want you to know: here at Auto Credit Express we specialize in helping applicants with problem credit find those dealers that can give them their best chances for approved auto loans.

So if you’re ready to reestablish your car credit, you can begin now by filling out our online auto loans application.

This entry was posted in New Cars and tagged , . Bookmark the permalink.
Auto Credit Express and the ACE logo are registered trademarks. The contents of all material available on this web site are copyrighted unless otherwise indicated. Content may not be reproduced, downloaded, disseminated, or transferred, in any form or by any means, except with the prior written agreement of the ACE Group. 3271 Five Points Drive, Suite 200 - Auburn Hills, MI 48326.