The Ten Cheapest New Cars for August 2014

Consumers wishing to re-establish their credit that qualify for a new car loan might want to check out this list of the ten most affordable new cars for the month of August

New Cars and Poor Credit

New FICO Score Could Help Poor Credit Borrowers

Here at Auto Credit Express we realize it’s a given that most consumers with bad credit will find themselves financing a recent, low-mileage used car. But in some cases borrowers of this type, depending on their income, credit history and the lender they’re approved by, qualify for a second option – an affordable new car.

It goes without saying that these vehicles come with a number of advantages including comprehensive manufacturer new car warranties and, in most states, coverage under new car lemon laws. All desirable benefits to have while you rebuild your credit if can swing a poor credit auto financing.

Choosing something in the subcompact or compact category can also mean savings on gas and auto insurance costs. Electing to finance for a shorter term (also possible because these vehicles are generally more affordable) can save on interest charges as well as enabling borrowers to position themselves to re-finance or take out a new loan with a lower interest rate more quickly.

Most Affordable New Cars for August

For the month of August, we’ve found the most affordable new cars and eliminated such vehicles as the smart fortwo which, for most buyers, is too small. 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. For both comparison and affordability, only manual transmission versions are listed – an automatic is typically an additional $1,000-$1,400.

So here they are:

2014 Kia Rio 1.6L LX 4-door hatchback#10 – 2014 Kia Rio 1.6L LX 4-door hatchback, 6-speed manual
Base price – $14,800
Rebate – $0
Price before taxes – $14,800
2012 Kia Rio#9 – 2014 Kia Rio 1.6L LX 4-door sedan, 6-speed manual
Base price – $14,700
Rebate – $0
Price before taxes – $14,700
Chevy Sonic#8 – 2014 Chevrolet Sonic 1.8L LS 4-door sedan, 5-speed manual
Base price – $14,995
Rebate – $500
Price before taxes – $14,495
2014 Ford Fiesta S 1.6L#7 – 2014 Ford Fiesta S 1.6L 4-door hatchback, 5-speed manual
Base price – $15,425
Rebate – $1,000
Price before taxes – $14,425
2014 Nissan Versa Note 1.6L S 4-door hatchback#6 – 2014 Nissan Versa Note 1.6L S 4-door hatchback, 5-speed manual
Base Price $14,800
Rebate – $500
Price before taxes – $14,300
2014 Ford Fiesta 1.6L S 4-door#5 – 2014 Ford Fiesta 1.6L S 4-door sedan, 5-speed manual
Base price – $14,925
Rebate – $1,000
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 Mitsubishi Mirage#3 – 2014 Mitsubishi Mirage 1.2L ES 4-door hatchback, 5-speed manual
Base price – $13,805
Rebate – $1,000
Price before taxes – $12,805
2014 Nissan Versa SV#2 – 2014 Nissan Versa SV 1.6L 4-door sedan, 5-speed manual
Base price – $12,800
Rebate – $0
Price before taxes – $12,800
2014 Chevrolet Spark#1 – 2014 Chevrolet Spark LS 1.2L 4-door hatchback, 5-speed manual
Base price – $12,995
Rebate – $750
Price before taxes – $12,245

The least expensive new car this August is the 2014 Chevrolet Spark 4-door hatchback that sells for just over $12,000 before taxes and comes with the largest dealer network in the U.S. Since this Spark is an entry-level, bare-bones 2014 model, it might take a bit of persistence finding one.

The Bottom Line

When credit-challenged buyers are given the option of financing a new car, choosing something from this list will enable them to enjoy the benefits of a new car warranty while keeping the payments within their budgets and offering some buyers a second chance at rebuilding their credit.

Another great tip: Auto Credit Express helps buyers with damaged credit find those new car dealers that can offer them their best opportunities for a loan approval. So if you’re serious about re-establishing your credit, you can begin the process now by filling out our online car loan application.

Posted on August 13, 2014 by in New Cars
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