Cheapest New Cars in October for Problem Credit Buyers

Credit challenged car buyers will want to check out the most affordable new cars to buy this October

When Searching for a Cheap New Car

Cheapest New Cars in October for Problem Credit Buyers

It’s pretty much a given that most borrowers with bad credit end up financing a used car. But if buying or leasing a new car is also an option, careful consideration should be given to picking one of the more affordable models. Not only are subcompact and compact cars more affordable, they can also save on both fuel and car insurance costs.

They can also more easily be financed for a shorter term – saving on interest charges and allowing borrowers to trade for the next vehicle more quickly and, provided they’ve made timely payments, possibly a lower interest rate as well.

Most affordable new cars in October

Sharp-eyed readers will notice that this month’s list hasn’t changed since September. This is largely due to carryover programs from the manufacturers. But there are still a couple of standout buys: Ford continues a $1,000 rebate on the fun-to-drive Fiesta, while Mitsubishi’s entry-level Mirage, already a great buy with an entry-level price of $13,805, also sports a $1,000 new car rebate.

With sales of the 2014 models winding down, next month’s list will be based only on 2015 models, so expect a lot of changes when it comes out. Once again for comparison purposes, only manual transmission models are listed –an automatic is typically an additional $1,000-$1,400.

Chevy Sonic#10 – 2014 Chevrolet Sonic 1.8L LS 4-door sedan, 5-speed manual
Base price – $14,995
Rebate – $0
Price before taxes – $14,995
2014 Ford Fiesta S 1.6L#9 – 2014 Ford Fiesta S 1.6L 4-door hatchback, 5-speed manual
Base price – $15,425
Rebate – $1000
Price before taxes – $14,425
2014 Kia Rio 1.6L LX 4-door hatchback#8 – 2014 Kia Rio 1.6L LX 4-door hatchback, 6-speed manual
Base price – $14,800
Rebate – $500
Price before taxes – $14,300
2014 Nissan Versa Note 1.6L S 4-door hatchback#7 – 2014 Nissan Versa Note 1.6L S 4-door hatchback, 5-speed manual
Base Price $14,800
Rebate – $500
Price before taxes – $14,300
2012 Kia Rio#6 – 2014 Kia Rio 1.6L LX 4-door sedan, 6-speed manual
Base price – $14,700
Rebate – $500
Price before taxes – $14,200
2014 Ford Fiesta S 1.6L#5 – 2014 Ford Fiesta 1.6L S 4-door sedan, 5-speed manual
Base price – $14,925
Rebate – $1000
Price before taxes – $13,925
2014 Nissan Versa S 1.6L 4-door sedan#4 – 2014 Nissan Versa S 1.6L 4-door sedan, 5-speed manual
Base price – $13,800
Rebate – $0
Price before taxes – $13,800
2014 Chevrolet Spark#3 – 2014 Chevrolet Spark LS 1.2L 4-door hatchback, 5-speed manual
Base price – $12,995
Rebate – $0
Price before taxes – $12,995
2014 Mitsubishi Mirage#2 – 2014 Mitsubishi Mirage 1.2L ES 4-door hatchback, 5-speed manual
Base price – $13,805
Rebate – $1000
Price before taxes – $12,805
2014 Nissan Versa S 1.6L 4-door sedan#1 – 2014 Nissan Versa SV 1.6L 4-door sedan, 5-speed manual
Base price – $12,800
Rebate – $0
Price before taxes – $12,800
2015 Honda Fit#1 – 2014 Nissan Versa SV 1.6L 4-door sedan, 5-speed manual
Base price – $12,800
Rebate – $0
Price before taxes – $12,800

Once again the least expensive new car this month is the 2014 Nissan Versa SV 4-door sedan that sells for just under $13,000 before taxes and fees.

The Bottom Line

When offered the chance to buy a new car, we suggest credit-challenged buyers pick one that’s affordable, fuel efficient and inexpensive to insure. Consumers who follow this advice, once they’ve reestablished their credit, will be in a much better position for their next loan.

Another great tip: Auto Credit Express helps car buyers with less-than-perfect credit find dealers that can offer them their best chances for loan approvals. So if you’re ready to reestablish your credit, you can begin now by filling out our online auto loan application.

Posted on October 12, 2014 by in New Cars
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