Cars for £300 a month
Discover some of the best cars for £300 a month. Learn about financing options, car types, and how to make the most of your budget at cinch
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Find the best used cars for £300 a month or less
With new car prices on the rise, you might think that finding cars for £300 a month would be impossible.
While your search might be limited to entry-level superminis when you’re looking at brand new models, searching for used cars opens up a whole new world of possibilities.
Whether you’re a first-time buyer, a family looking for a second car, or someone after an upgrade, discover how you can drive away in a great used car for under £300 a month and still have change to spare.
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Latest cars for £300 a month
Take a quick look on cinch using our handy filters and sorting tools and you’ll find plenty of cars for £300 a month, whether that’s on personal contract purchase (PCP) or hire purchase (HP).
Need some help finding the right motor for £300 a month? Here are some cracking options you can park on your driveway within budget – including some electric cars under £300 a month.
Best used electric car for £300 a month – Tesla Model 3
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You’d be forgiven for thinking that a state-of-the-art electric car would be out of your price range, but some early used Tesla Model 3s can be snapped up for less than £250 per month.
And luckily, Tesla’s excellent over-the-air updates also makes even the oldest Model 3 feel as fresh as a brand new one.
Most buyers would be happy with the Standard Range Plus model, which has 200-250 miles of real-world range. But for this budget, you could afford a Long Range model with around 50 miles of extra range and bags of performance – not that the entry-level pick is slow.
Best used family SUV for £300 a month – Volkswagen Tiguan
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Thanks to the launch of a third-generation model in 2024, a second-generation Tiguan can now be picked up for a chunk less than £300 per month – and still very much looks the part.
The choice is yours, but we’d go for a post-facelift model sold after 2020, when standard equipment was upgraded on all models.
Entry-level Life trim gets adaptive cruise control, three-zone climate control, and an eight-inch touchscreen infotainment system with Apple CarPlay and Android Auto.
The 150hp 1.5-litre petrol is refined around town, but anyone wanting to carry a car full of passengers and luggage, or use their Tiguan as a tow car, will appreciate the 2.0-litre diesel’s extra grunt.
Best used hot hatch for £300 a month – Ford Fiesta ST
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Few cars are as joyous and engaging to drive as a Ford Fiesta, and even the 1.0-litre EcoBoost petrol engine is popular as it’s a strong performer.
If you’re after a hot hatch that’s affordable to run and useable every day, then the Ford Fiesta ST and its 200hp 1.5-litre petrol engine is hard to beat It can do 0-62mph in a nippy 6.5 seconds.
Even with a £300 per month budget, you can slide into the seat of a top-spec ST-3 with all the bells and whistles, such as parking sensors, a reversing camera, heated seats and a heated steering wheel.
Best used premium hatchback for £300 a month – BMW 1 Series
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A brand-new BMW 1 Series could set you back hundreds more per month, but for less than £300, you could drive away in the third-generation F40 model introduced in 2019.
A range of 1.5- and 2.0-litre petrol and diesel engines are available, but the most common is the 136hp 1.5-litre petrol badged 118i.
In M Sport trim, you get an aggressive bodykit and eye-catching alloys on top of the standard equipment, which includes things like heated seats and the excellent iDrive infotainment system with Apple CarPlay.
Best used hybrid for £300 a month – Hyundai IONIQ
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Although it may be discontinued, the Hyundai IONIQ continues to be a popular choice among families and taxi drivers due to its consistently strong fuel economy and well-appointed interior.
For a budget of £300 per month, you could get a low-mileage facelifted model in range-topping Premium SE trim, with your choice of regular or plug-in hybrid powertrain. An electric IONIQ is also within reach at this price point.
Top-spec editions come with more than you might expect for a budget-friendly hatchback, such as heated front and rear seat, cooled front seats, adaptive cruise control, keyless entry and an eight-inch touchscreen infotainment system with Apple CarPlay and Android Auto.
Best used convertible for £300 a month – Mazda MX-5
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If you’re after wind-in-your-hair thrills and useable performance in a package just as suited to cities as it is to motorways and country roads, not many cars fit the bill as well as the Mazda MX-5.
Most cars come with things like rear parking sensors, a reversing camera and cruise control. Search for a model with heated seats if you’re the type of driver who likes the roof down at even the slightest hint of sun.
The 132hp 1.5-litre model weighs less than a tonne when fitted with the fabric folding roof, so it’s more than spritely enough.
If you want more performance, opt for the 184hp 2.0-litre petrol engine, which can do 0-62mph in a hot hatch-rivalling 6.5 seconds.
Best used estate for £300 a month – Volkswagen Passat Estate
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The Volkswagen Passat Estate has a 650-litre boot, which makes it one of the most spacious estates. In fact, it offers more luggage space than most SUVs without compromising rear-seat legroom.
Facelifted models introduced in 2019 have bright LED headlights, parking sensors and adaptive cruise control as standard, but high-spec SEL and R-Line models are also within reach.
The 2.0-litre diesel engine is a strong all-rounder that delivers strong mpg figures, but the 1.4-litre plug-in hybrid GTE will be the cheapest to run.
Making the most of your £300 a month car budget )
When you’re looking at cars for £300 per month, remember to explore the different types of finance options – HP typically costs more per month but you’ll own the car at the end.
PCP can offer lower monthly payments, but you’ll be met with an optional purchase fee at the end (which you may be able to finance through a regular loan) or the opportunity to hand the car back.
The amount you’re prepared to put down as a deposit also affects how much monthly payments will be – the bigger the deposit, the lower the payments, and the less interest you’ll pay overall.
A cheaper cash price might not necessarily translate to lower monthly instalments. When it comes to PCP, how much the car is expected to depreciate plays a big role in the payments.
Other costs, such as the car’s insurance group, fuel costs, and road tax, are important to keep in mind as well.
Explore used cars at cinch
Although we’ve rounded up a handful of the best cars for £300 a month above, there are loads of other models to choose from on cinch at this price point.
Use the handy monthly payment filter to narrow down the search for your next car on cinch and consider adding cinchCare for even more predictable running costs.