Ten Cheapest New Cars for July 2014

Borrowers with problem credit that qualify for a new car loan might be interested in this list of the ten most affordable new cars this month

Second Chance at Financing a New Car

Ten Cheapest New Cars for July 2014

Although most consumers with credit issues will end up financing a recent, low-mileage used car, here at Auto Credit Express we also know that sometimes these borrowers are offered a second choice – one that depends on their income, credit history and the lender program they qualify for – and that is an affordable new car.

In addition to that new car smell, this choice also comes with other advantages including fairly comprehensive manufacturer new car warranties and, in most states, coverage under new car lemon laws.

Choosing a model in the subcompact or compact category can also mean savings on interest charges as well as gas and auto insurance costs, while opting for a shorter finance term (also feasible with more affordable vehicles) enables borrowers to position themselves to re-finance or take out a new loan at a lower interest rate more quickly.

Most Affordable New Cars for July

As in the past, we’ve taken the most affordable new cars and eliminated those that typically don’t make sense – such as the smart fortwo which, for most people, is too small and not versatile enough. To widen the selection, we list only the least expensive trim level for each model, although different body styles (sedan, hatchback) of the same model are listed separately. Since they are the most affordable, manual transmission versions only are listed – an automatic is typically an additional $1,000.

Here they are:

  1. 2014 Hyundai Accent 1.6L GS 4-door hatchback, 6-speed manual
    Base price – $15,705
    Rebate – $750
    Price before taxes – $14,995
  2. 2014 Chevrolet Sonic 1.8L LS 4-door sedan, 5-speed manual
    Base price – $15,705
    Rebate – $750
    Price before taxes – $14,495
  3. 2014 Ford Fiesta S 1.6L 4-door hatchback, 5-speed manual
    Base price – $15,425
    Rebate – $1000
    Price before taxes – $14,425
  4. Tie – 2014 Nissan Versa Note 1.6L S 4-door hatchback, 5-speed manual
    Base Price $14,800
    Rebate – $500
    Price before taxes – $14,300
  5. Tie – 2014 Kia Rio 1.6L LX 4-door hatchback, 6-speed manual
    Base price – $14,800
    Rebate – $500
    Price before taxes – $14,300
  6. 2014 Kia Rio 1.6L LX 4-door sedan, 6-speed manual
    Base price – $14,700
    Rebate – $500
    Price before taxes – $14,200
  7. 2014 Ford Fiesta 1.6L S 4-door sedan, 5-speed manual
    Base price – $14,925
    Rebate – $1000
    Price before taxes – $13,925
  8. 2014 Chevrolet Spark LS 1.2L 4-door hatchback, 5-speed manual
    Base price – $12,995
    Rebate – $0
    Price before taxes – $12,995
  9. 2014 Mitsubishi Mirage 1.2L ES 4-door hatchback, 5-speed manual
    Base price – $13,805
    Rebate – $1000
    Price before taxes – $12,805
  10. 2014 Nissan Versa S 1.6L 4-door sedan, 5-speed manual
    Base price – $12,800
    Rebate – $0
    Price before taxes – $12,800

The least expensive new car this July is the 2014 Nissan Versa sedan that sells for less than $13,000 before taxes and comes with one of the largest dealer networks in the U.S. Since this Versa is the entry-level model, even though it’s a 2014 it might take a bit of patience and some luck to find one.

The Bottom Line

In some cases credit-challenged buyers may be given the option of financing a new car. Given this option, choosing a vehicle from this list of affordable new cars will enable these consumers to enjoy the benefits of a comprehensive new car warranty while keeping the payments within their budgets

One more tip: Auto Credit Express helps buyers with damaged credit find the right new car dealers that can offer them their best chances for a loan approval. So if you’re serious about reestablishing your credit, you can begin the process now by filling out our online auto loan application.

Posted on July 18, 2014 by in New Cars
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