20 Best Cars to Own If You Don’t Have Great Credit

When your credit is less than great, you might receive new car loan offers that leave you underwhelmed — but not so much that you’re unwilling to sign on the dotted line. If you have great credit, you’re bound to receive a good interest rate and find plenty of options that fit your budget. But if you try to get a car with bad credit, the rate you’ll likely be offered could put an expensive new car out of your financial reach.

When you don’t qualify for the best financing options, it’s important to find out which cars are best to own to match your budget. That way, you won’t be spending more than necessary.

GOBankingRates researched cars that individuals with “not great credit” can own for less than $300 a month, assuming a five-year loan and a 20% down payment. “Not great credit” was defined as credit ranging from challenged credit — aka poor credit — to good credit. The monthly payment for each credit score range was found using CarMax’s Car Payment Calculator.

Whether you’re buying a car with bad credit or your credit score could simply use some work, you owe it to yourself — and your bank account — to try and get the best car for your money.

Last updated: Nov. 4, 2020

• Monthly payment for good credit: $290

The starting MSRP for a 2019 Nissan Sentra S sedan is $17,890, so a 20% down payment will cost $3,578. While it’s the priciest car on the list, the Sentra boasts a six-speed manual transmission and comes equipped with some features worthy of the higher price tag. Standard equipment on this model includes a 7-inch touch-screen display, Bluetooth streaming audio and rearview camera.

• Monthly payment for good credit: $284

The compact 2020 Kia Soul LX 6MT features an MSRP of $17,490 with a typical down payment of $3,498. Available exterior paint colors are snow white pearl, cherry black and sparkling silver. Standard features include power-adjustable rearview mirrors, rear camera display, power door locks, power windows and tinted glass.

• Monthly payment for good credit: $275

One of the easiest ways to save on your new ride is knowing the best time of the year to buy a car. And buying the prior year’s model can obviously save you a ton of cash, too. The 2018 Chevrolet Cruze is available in a sedan or hatchback model and comes in a variety of colors including kinetic blue metallic, red hot and summit white. The car comes standard with a 7-inch display screen, start/stop technology and Teen Driver technology. The starting MSRP is $16,975, with a typical down payment of $3,395.

• Monthly payment for good credit: $272
• Monthly payment for fair credit: $298

Available exterior colors for the Hyundai Veloster 2.0 include sonic silver, racing red and sunset orange. The hatchback has a starting MSRP of $16,750, and a 20% down payment comes out to $3,350. Standard features on this model include a six-way adjustable driver seat with seat height adjustment, 7-inch color touch-screen audio, a Bluetooth hands-free phone system and a rearview camera with dynamic guidelines.

• Monthly payment for good credit: $268
• Monthly payment for fair credit: $294

Described as a fun-sized ride by its manufacturer, the 2018 FIAT 500 has a starting MSRP of $16,495 and a 20% down payment of $3,299. Standard features include a 1.4-liter MultiAir turbo engine, sport-tuned suspension and performance brakes, rear back-up camera and a 5-inch color touch screen with Bluetooth streaming audio.

• Monthly payment for good credit: $267
• Monthly payment for fair credit: $293

The 2019 Kia Soul base model, available in bright silver, clear white, shadow black or alien 2 (green), has a starting MSRP of $16,490. The car’s interior comes equipped with a rear-camera display, a 5-inch touch screen, Bluetooth wireless technology, voice recognition, FlexSteer and power windows.

• Monthly payment for good credit: $267
• Monthly payment for fair credit: $293

Available in deep sea blue, silky silver and currant red, the 2019 Kia Rio hatchback has a starting MSRP of $16,490. A 20% down payment will run you $3,298. Standard equipment includes a 7-inch touch screen with a rear-camera display, Android Auto, Apple CarPlay, a six-speed automatic transmission and a 60/40 split-folding rear seat.

• Monthly payment for good credit: $263
• Monthly payment for fair credit: $288

The 2019 Honda Fit LX has an MSRP of $16,190. Standard equipment on this model includes a six-speed manual transmission, a multi-angle rearview camera, Bluetooth hands-free system with streaming audio and an Eco-Assist system. The car also comes with Honda Sensing, a package of safety and driver-assistive systems that includes adaptive cruise control, a lane keeping assist system and traffic sign recognition.

• Monthly payment for good credit: $254
• Monthly payment for fair credit: $279

Nissan invites you to pack in more fun with its Nissan Versa Note, which seats five. With an EPA-estimated 31 city miles per gallon and 39 highway miles per gallon, you could go a long time in between fill-ups, which keeps more money in your pocket. Standard features on this model include a 1.6-liter DOHC 16-valve four-cylinder engine, a 7-inch touch-screen display and Bluetooth hands-free phone system and streaming audio.

• Monthly payment for good credit: $253
• Monthly payment for fair credit: $278

If you choose to purchase this compact sedan from Toyota, you can expect an MSRP of $15,600 and a 20% down payment of $3,120 for the manual trim. Available exterior colors include chromium, icicle and sapphire. Tech perks that come standard on this model are remote keyless entry, two USB ports and a 7-inch touch-screen multimedia system with voice recognition and Bluetooth technology.

• Monthly payment for good credit: $250
• Monthly payment for fair credit: $274

Kia is known within the auto industry for its 100,000-mile, 10-year warranty on its fleet of affordable vehicles — and the 2019 Kia Rio is no exception. This sedan features an MSRP of $15,390, and a 20% down payment will cost you $3,078. Choose from exterior paint colors such as silky silver, deep sea blue or aurora black. Plus, among the car’s standard features are power windows with driver’s one-touch auto-down and a 60/40 split-folding rear seat.

• Monthly payment for good credit: $250
• Monthly payment for fair credit: $274

The 2019 Chevrolet Sonic sedan has an MSRP of $15,420, and a 20% down payment will cost $3,084. This model comes standard with an ECOTEC 1.4-liter turbocharged engine. While driving, you can expect to average 26 city miles per gallon and 34 highway miles per gallon.

• Monthly payment for good credit: $243
• Monthly payment for fair credit: $266

The 2019 Hyundai Elantra SE is definitely one of the more affordable picks if your credit isn’t great — the cheapest available trim starts at $14,950. But affordability doesn’t mean you have to skimp on options. This model comes equipped with standard features such as a rearview camera with dynamic parking guidelines, steering-wheel-mounted Bluetooth audio and a split-folding 60/40 rear seatback.

• Monthly payment for good credit: $240
• Monthly payment for fair credit: $263

Available exterior colors on the 2019 Mitsubishi Mirage G4 ES sedan include wine red metallic, starlight silver metallic or sapphire blue metallic. Plus, buyers have the choice of not one, but two interior fabrics: light gray and black. The starting MSRP for this model equipped with a five-speed, manual overdrive transmission is $14,795 with a 20% down payment of $2,959.

• Monthly payment for good credit: $237
• Monthly payment for fair credit: $260

Standard features on the 2019 Nissan Versa Sedan S Plus include a 7-inch touch-screen display, Bluetooth streaming audio, a 1.6-liter DOHC 16-valve four-cylinder engine and an Xtronic continuously variable transmission. With an MSRP of $14,600, a 20% down payment for this model would be $2,920.

• Monthly payment for good credit: $231
• Monthly payment for fair credit: $254

With a starting MSRP of $14,260, the 2019 Ford Fiesta, which seats five, could be considered a bargain. Estimated fuel economy for this model with a five-speed manual transmission is 27 city miles per gallon and 35 highway miles per gallon.

• Monthly payment for good credit: $227
• Monthly payment for fair credit: $249
• Monthly payment for challenged credit: $297

The 2019 Hyundai Accent is the first car on this list with an MSRP of less than $14,000, with the SE trim starting at $13,995. This also makes it the first vehicle on the list where individuals with challenged credit pay under $300 a month to own the car. Standard equipment for this sedan includes a 5-inch touch screen, rearview camera with dynamic guidelines and Bluetooth hands-free phone system.

• Monthly payment for good credit: $224
• Monthly payment for fair credit: $245
• Monthly payment for challenged credit: $292

The 2019 Mitsubishi Mirage ES hatchback features a five-speed manual transmission and averages 29 city miles per gallon and 39 highway miles per gallon. Starting MSRP for this model is $13,795. Standard features include a 7-inch touch-screen display, rearview camera, keyless entry and Bluetooth wireless technology.

• Monthly payment for good credit: $214
• Monthly payment for fair credit: $235
• Monthly payment for challenged credit: $280

With yummy-sounding exterior paint colors, such as toasted marshmallow and passion fruit, the 2019 Chevy Spark might just turn your head. Even though this subcompact is tiny, it features 10 standard air bags and a high-strength steel safety cage. Starting MSRP for this model is $13,220 with a typical down payment of $2,644.

• Monthly payment for good credit: $202
• Monthly payment for fair credit: $222
• Monthly payment for challenged credit: $264

As far as cars for people with bad credit go, this make and model is the most affordable on the list. Going with a cheaper car now can help you avoid a bad car loan later. The 2019 Nissan Versa Sedan S, equipped with a five-speed manual transmission, comes with an MSRP of $12,460. Standard features on this model include a 7-inch touch-screen display, Bluetooth streaming audio and Siri Eyes Free technology.

Although bad credit car loans exist, that doesn’t mean you have to buy a car with bad credit. Instead, you can work to raise your credit score so that you can potentially qualify for a better interest rate in the future. Here are some tips that might help you improve your credit:

• Pay down your credit card and loan balances
• Pay off collection accounts
• Get copies of your credit reports, review them for errors and dispute any errors you find
• Demonstrate positive credit behavior: make on-time payments consistently, and avoid using more than 30% of your available credit limit  

Keep reading to see how much a car cost the year you were born.

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Methodology: GOBankingRates determined the best vehicles that an individual with “not great credit” can own for a $300 monthly car payment or less by first making these assumptions: The individual is currently locked into a five-year loan (60-month) and has made a 20% down payment, excluding estimated tax, title, tags and other fees. Over 100 vehicles were analyzed and then narrowed down to 20 vehicles that can be owned for less than $300 a month with “not great credit,” defined as an individual having challenged credit — aka poor credit — to good credit. The monthly payment for challenged or fair credit individuals exceeded $300 on some of the cars listed, and therefore the payments for these credit score ranges were not included on the respective slides. Vehicle prices were sourced from the respective car manufacturer’s website, and vehicle financing calculations were found using CarMax’s Car Payment Calculator. All data was compiled on May 9, 2019, with vehicle models from 2018, 2019 and 2020 considered in the study.