12 New Cars You Can Own for Under $400 a Month

Just last year, GOBankingRates reported the average monthly car payment in America was approximately $737. While that may be affordable for some, most car owners would likely love to cut that amount in half to take the pressure off their monthly budget — especially in an era of steady inflation rates and tariff-driven high car prices.

That’s why we recently gathered the 12 new cars you can own for under $400 a month in 2026. Nissans and Kias dominate the list of cars with three each, the most expensive of which — the Kia Seltos — only maxes out at $372 per month. Elsewhere, Toyota makes two appearances, as does Hyundai (whose Elantra Hybrid is the most expensive car on the list with a $398 monthly payment for a $25,450 MSRP). Meanwhile, Volkswagen and Mazda also appear once per brand.

Curious which cars you can own for less than a $400 monthly car payment? GOBankingRates has them all listed ahead, from least to most expensive.

• Starting MSRP: $17,390
• 20% down payment: $3,478
• Loan amount: $13,912
• Monthly payment: $272

• Starting MSRP: $20,490
• 20% down payment: $4,098
• Loan amount: $16,392
• Monthly payment: $321

• Starting MSRP: $22,290
• 20% down payment: $4,458
• Loan amount: $17,832
• Monthly payment: $349

• Starting MSRP: $22,430
• 20% down payment: $4,486
• Loan amount: $17,944
• Monthly payment: $351

• Starting MSRP: $22,600
• 20% down payment: $4,520
• Loan amount: $18,080
• Monthly payment: $354

• Starting MSRP: $22,925
• 20% down payment: $4,585
• Loan amount: $18,340
• Monthly payment: $359

• Starting MSRP: $23,790
• 20% down payment: $4,758
• Loan amount: $19,032
• Monthly payment: $372

• Starting MSRP: $23,870
• 20% down payment: $4,774
• Loan amount: $19,096
• Monthly payment: $374

• Starting MSRP: $23,995
• 20% down payment: $4,799
• Loan amount: $19,196
• Monthly payment: $376

• Starting MSRP: $24,380
• 20% down payment: $4,876
• Loan amount: $19,504
• Monthly payment: $382

• Starting MSRP: $24,550
• 20% down payment: $4,910
• Loan amount: $19,640
• Monthly payment: $384

• Starting MSRP: $25,450
• 20% down payment: $5,090
• Loan amount: $20,360
• Monthly payment: $398

Photo disclaimer: Imagery is representational and does not necessary depict exact makes, models or years listed.

_{Methodology: GOBankingRates determined the best new vehicles you can own for a $400-a-month car payment or less by first making these assumptions: Five-year loan (60 months) and 20 percent down payment, excluding estimated tax, title, tags and other fees. Monthly payments based on a 6.51% APR for 661-780 credit sourced from U.S. News & World Report. All information collected and up to date as of January 28, 2026.}