Best cars under £300 a month

Cars under £300 a month don't come much better than these

Murray Scullion
May 21, 2018

Spending £300 a month on a car works out at around £10 a day which, if you tend to splash out on lunch, could be less than you spend on fashionable food.

By the time you've slurped two organic soy lattes with sugar free hazelnut flavouring and a smoked salmon, avocado, and egg protein pot, your bank account will already be £10 down before your lunch break is over.

Make your own sandwiches and you could swap fancy coffee and an organic lunch every day for a Range Rover. It might be a used version of the compact Evoque, but it's still as luxurious and rugged as you'd expect from a Range Rover.

If used cars don't butter your sourdough bread, how does a new Nissan 370Z sound? A 3.7-litre V6 engined sports car could be yours for the same price as queuing for breakfast every day.

Not to be content with fancy SUVs and sports cars, there are plenty of more practical family cars, such as the Toyota C-HR for £300 a month or less.

The market is full of great cars for the same price as lunch at the moment, and you can search them all by clicking below - or scroll down for our top ten, comprising of five used, and five new deals.

Best used cars for under £300 a month

All used car finance quotes are based on a 48 month PCP agreement with 10% deposit and a representative APR of 7.9%

Range Rover Evoque

Typical monthly payment £293 Cash price £23,799

The Range Rover Evoque has often been compared to a designer handbag as it’s small and stylish but carries a premium badge. As these fashionable cars have thousands of configurations from new, and they sold really well, for £300 a month there’s a seemingly endless selection. Typically, 2015 cars with fewer than 30,000 miles are within budget.

It's worth looking for a car with the TD4 diesel engine that became available from August 2015. Known as an Ingenium engine, it's more efficient than earlier models.

    

Mercedes E-Class

Monthly repayments typically £289 Price £20,445

Family cars don’t come much more luxurious than this. Mercedes prides itself on providing a premium car that can shut out the noise of the outside world and glide over the worst that British roads can offer.

In the back there’s acres of room (except for in the middle seat) and the the saloon has a big boot which has 20 litres more space than the BMW 5 Series, and ten litres more space than the Audi A6.

For your £300 a month you can get a current generation 2016 car in base SE specification. This has plenty of equipment, but nothing fancy like ash wood inside or big alloy wheels on the outside. Plump for the diesel engined E220d - the cheaper and more frugal E220 is too slow for most people.

  

BMW i3

Monthly repayments typically £286 Price £18,990

BMW’s i3 is still so modern and up to date that people struggle to believe that it’s been around since 2013.

It can be had as a pure electric car or with a tiny petrol engine to accompany the electric power. Theoretical range of the pure electric i3 runs to 195 miles, while the range extender officially extends range to 276 miles. But don’t expect to get figures anywhere near this.

£300 a month will just about squeeze you into a 2016 model, which has an improved charging time (around three hours from a fast-home charger) over older models. Aim for a range extender model if you can find one.

   

Renault Megane Renaultsport

Monthly repayments typically £265 Price £18,000

The Megane RS is one of the finest hot-hatchbacks you can have for less than £300 a month - in fact, they can be snapped up for much less.

For the budget, you can get a 261hp 2.0-litre engine, massive Brembo brakes, and the finishing touches on any hot-hatch: deep bucket seats.

A new Renault Megane RenaultSport has recently gone on sale, which is set to drive prices further down too. Stump up the cash for a cup model - as this gets stiffer suspension for a more sporting experience.

   

Ford S-Max

Monthly repayments typically £291 Price £19,990

Ford designed its S-Max with frustrated mums and dads in mind. The types of mums and dads who want a sports car but need a family hauler to trail around kids and pushchairs. Ford’s fastest S-Max can sprint from 0-62mph in 8.4 second, which is mighty for a car with three rows of seating and seven seats.

It was expensive to buy when it was new, which is why it makes so much sense on the second hand market. Top spec cars cost more than £31,000 from new, but these have fallen to less than £20,000 for 2017 models.

     

Best new cars for under £300 a month

Toyota C-HR

Monthly repayments £300 Price £24,600
Type of finance PCP Deposit £4,560 Term 24 months Representative APR 1.9%

Crossovers are huge business at the moment, and the C-HR is one of the sharpest looking on the market. It’s also taken home many accolades and can be optioned with a hybrid, which combines a traditional petrol engine with an electric motor.

£300 a month is enough to get a new C-HR on your driveway, and Toyota is offering 0%APR on a 24 month deal. That does mean you’ll have to cough up a hefty deposit of more than £4,500 though. There’s also the option to buy at the end of the 24 months for a price of £13,140.

  

Mazda CX-5

Monthly repayments £289 Price £24,895
Type of finance PCP Deposit £3,181.75 Term 42 months Representative APR 3.9%

Another smart crossover here, the CX-5 is handsome and has punchy diesel and petrol engines available. For a car of its size, it drives remarkably well and much like a regular car which is much smaller.

APR of 3.9% is competitive, while the deposit of just over £3,000 isn’t too bad for a brand new car either. This offer is for a two-wheel-drive version, which is fine for average drivers. But if you want a sure-footed four-wheel-drive CX-5 you’ll have to spend more.

  

Skoda Kodiaq

Monthly repayments £299 Price £32,900
Type of finance PCP Deposit £7,737.71 Term 48 months Representative APR 6.3%

A new seven-seater for £299 a month is pretty good value - it works out at about £42.70 per month per seat if you’re that way inclined.

The Kodiaq, often referred to as the Skodiaq by people in Skoda circles, is obviously high on space and seat count, but is also high on tech. DAB digital radio, phone connectivity and keyless entry and ignition come as standard on all models.

Watch out on these deals though - as the APR isn’t quite as low as some manufacturers offer, and the deposit is a steep £7,373.71

Nissan 370Z

Monthly repayments £250 Price £29,495
Type of finance PCP Deposit £7,374 Term 37 months Representative APR 0.0%

Bang for your buck hoarders, here is your car. For £250 a month you can get 322hp underneath your right foot. The 370Z might be a bit long in the tooth, but it is still fantastic to drive and fast too - sprinting to 60mph from a standstill in 5.2 seconds. It looks and sounds great too, and expect it to get you lots of attention.

APR of 0.0% is rock-bottom too - but the flip side is that you do need to invest £7,374 as a deposit.

BMW 1 Series

Monthly repayments £259 Price £23,960
Type of finance PCP Deposit £4,129 Term 48 months Representative APR 4.9%

Now in its second iteration, the BMW 1 Series has cemented itself as the choice for people who want a premium hatchback that’s also fun to drive. It boasts efficient petrol and diesel engines and is widely available with competitive finance packages.

For £259 you can find yourself in a new 1 series 118i Sport. This 1.5-litre is the least powerful in the petrol range but it’s not slow, and should return close to 50mpg. Sport trim gets 17-inch alloy wheels, ambient lighting and glossy interior trim.

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