Consumers with bad credit and realistic expectations can take advantage of an affordable new vehicle to keep their monthly payments low and their interest expenses down.

Rebuilding your credit

At Auto Credit Express we are in the business of helping people reestablish their credit by filling out our online credit application and financing either a new or a newer pre-owned vehicle with a bad credit car loan. By doing this, many of our applicants have been able to raise their credit scores and reestablish their auto credit by financing a vehicle through one of our affiliate dealers.

But the process of reestablishing your auto credit can be an expensive one – especially if you choose the wrong car. A vehicle that's too pricey can also stretch the budgets of many credit-challenged consumers and, in a worst case scenario, result in repossession. Once this happens, the only remaining choice for most buyers is a tote the note dealer. A repossession also means that rebuilding your car credit has to be put on hold for at least a year, since most bad credit auto loan lenders will only consider applicants with a repossession that's more than a year old.

Choosing a vehicle

Although it may sound odd, our customers rarely ask what kind of car they should get with a bad credit car loan. They know what they want and, unfortunately, it's usually not a small to midsized car. But getting a dream car with a loan designed to reestablish your credit is not the best idea. Here's why:

Ditch the “dream car” idea

While many credit challenged customers want to buy an SUV or something else that's fairly expensive , buying this kind of vehicle really doesn't make any sense at this point in time. The high interest rates charged by bad credit lenders will put the payment out of the reach of most budgets, while insurance costs will make owning it even more expensive.

The smart alternative is to finance a small to midsize car and, if your budget can handle it, finance it for the shortest term possible to save on interest expenses. By financing a car for a shorter term, you should be in a position to re-finance or purchase a newer vehicle in two years or less at a lower rate. Carry this contract for another two years and, with other improvements in your credit, you could be ready to finance the car of your choice at a close to normal interest rate.

New cars

In order to do this, most bad credit car loan customers choose an affordable used car. But there is another choice. Picking out an affordable new car can also have its advantages.

New cars are usually more reliable than used cars, but often the added expense puts them out of reach for many bad credit car loan customers. Fortunately, new car incentives, usually in the form of “customer cash”, can not only lower the price of a new vehicle, it can also contribute to the down payment requirements of many subprime lenders.

With nearly three weeks left in April, bad credit auto loan buyers still have time to take advantage of the following deals on some very affordable new cars:

Top 10 affordable new cars for April

Today, we've taken the time to combine the most affordable new vehicles in the U.S. with their current rebates to come up with the ten most affordable vehicles for the month of April, 2010. It should be noted that all vehicle prices include destination charges, but not taxes or official fees that vary by state.

#10 – 2009 Kia Rio5
Base price - $14,020
April rebate - $2,500
Price before taxes - $11,520
The Rio5 is the hatchback version of Kia's most affordable model. Add in the best warranty in the industry and you have a real winner.

#9 – 2010 Chevrolet Aveo 5 LS
Base price - $12,835
April rebate - $1500
Price before taxes - $11,335
The 5-door hatch version is a step up from the base Aveo and offers a few more amenities in addition to the added versatility and cargo space of a hatchback.

#8 2009 Kia Spectra
Base price - $14,245
April rebate - $3,000
Price before taxes - $11,245
The Spectra is a larger car than either the Aveo or the Yaris and comes with Kia's 5 year 60,000 mile basic warranty plus an additional 10 year 100,000 mile power train warranty.

#7 – 2010 Chevrolet Aveo
Base price - $11,965
April rebate - $1500
Price before taxes - $11,185
Chevrolet's least expensive sedan is built by GM's Daewoo subsidiary in Korea and has the added advantage of being able to be serviced at any Chevrolet dealer.

#6 – 2010 Nissan Versa
Base price - $10,710
April rebate - $750
Price before taxes – $9,960
The Versa is one of the really good automotive values for April. Even though March's rebate of $1250 has been dropped to $750 it still comes in at less than $10,000 before taxes and fees.

#4 (tie) – 2009 Kia Rio
Base price - $12,190
April rebate - $2,500
Price before taxes - $9,690
A $2,500 rebate plus one of the best warranties in the business makes the 2009 Kia Rio a winner.

#4 (tie) – 2010 Hyundai Accent
Base price - $10,690
April rebate - $1000
Price before taxes - $9,690
The Accent carries the same industry-leading warranty as the Kias, plus this is a 2010 model, putting it slightly ahead of the Rio. In addition, bad credit car loan buyers will probably not need to buy an extended service contract.

#3 – 2009 Chevrolet Aveo/Aveo5
Base price - $12,685
April rebate - $3,000
Price before taxes - $9,685
Choose the 2009 Aveo and the rebate increases an additional $1500, a tie for the largest rebate on the list, making the 2009 model even more affordable than the 2010 version.

#2 – 2009 Nissan Versa
Base price - $10,710
April rebate - $1250
Price before taxes – $9,460
The 2009 Versa is one of the great automotive values for April, coming in at less than $10,000 before taxes and fees.

#1 – 2009 Hyundai Accent
Base price - $10,690
April rebate - $1,500
Price before taxes - $9,190
Imagine getting a new car for just over $9,000 before taxes and one of the longest warranties in the business. Although it is getting harder to find one of these, the 2009 Hyundai Accent is the most affordable car for April and should be on any bad credit car shopper's short list of vehicles.

The bottom line

Rebates and customer cash are a great way to not only make a vehicle more affordable, but also contribute towards your down payment. In the case of the Hyundai Accent, you can buy a vehicle that would normally have a retail delivered price of about $11,600 (in most states) for close to $10,000 in most states, after all taxes and fees.

Everyone needs a car. Before you buy a car from a local Tote the Note, We Finance Everyone car dealer, consider applying for a bad credit auto loan from Auto Credit Express, a leading national car buying service for people with bad credit. Our credit application is encrypted so your personal information is secure, and you can fill it out in the comfort and security of your home.

So why not begin the process of rebuilding your credit by filling out our online car loan application here.