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.
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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.
1. 2025 Nissan Versa
- Starting MSRP: $17,390
- 20% down payment: $3,478
- Loan amount: $13,912
- Monthly payment: $272
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2. 2025 Kia Soul
- Starting MSRP: $20,490
- 20% down payment: $4,098
- Loan amount: $16,392
- Monthly payment: $321
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3. 2026 Kia K4
- Starting MSRP: $22,290
- 20% down payment: $4,458
- Loan amount: $17,832
- Monthly payment: $349
4. 2026 Nissan Kicks
- Starting MSRP: $22,430
- 20% down payment: $4,486
- Loan amount: $17,944
- Monthly payment: $351
5. 2026 Nissan Sentra
- Starting MSRP: $22,600
- 20% down payment: $4,520
- Loan amount: $18,080
- Monthly payment: $354
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6. 2026 Toyota Corolla
- Starting MSRP: $22,925
- 20% down payment: $4,585
- Loan amount: $18,340
- Monthly payment: $359
7. 2026 Kia Seltos
- Starting MSRP: $23,790
- 20% down payment: $4,758
- Loan amount: $19,032
- Monthly payment: $372
8. 2026 Hyundai Elantra
- Starting MSRP: $23,870
- 20% down payment: $4,774
- Loan amount: $19,096
- Monthly payment: $374
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9. 2026 Volkswagen Jetta
- Starting MSRP: $23,995
- 20% down payment: $4,799
- Loan amount: $19,196
- Monthly payment: $376
10. 2026 Toyota Corolla Hatchback
- Starting MSRP: $24,380
- 20% down payment: $4,876
- Loan amount: $19,504
- Monthly payment: $382
11. 2026 Mazda3 Sedan
- Starting MSRP: $24,550
- 20% down payment: $4,910
- Loan amount: $19,640
- Monthly payment: $384
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12. 2026 Hyundai Elantra Hybrid
- 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.
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This article originally appeared on GOBankingRates.com: 12 New Cars You Can Own for Under $400 a Month
