6 New Cars With Monthly Payments Under $500

The average new-car payment hit a record $777 in the second quarter of 2026,200According to Jalopnik, $777 was the average monthly payment for a new car in Q2 2026.. But a little homework still turns up models that fit a $500 monthly budget. Jalopnik ran the numbers using the average Q2 down payment of $5,815, a 72-month loan term at 7% APR, and no trade-in. That math — not a fantasy down payment — is the baseline here.

Starting with electric vehicles, the 2027 Kia EV3 comes in at $436 per month. Its base price is $31,385 with destination, and the entry-level front-wheel-drive version offers 221 miles of range. For comparison, a Tesla Model 3 — the cheapest Tesla — would run $555 a month.

If a pickup is what you need, the unibody Ford Maverick keeps payments low. A 2026 Maverick XL with all-wheel drive and the hybrid engine pencils out to $462 a month. Stepping up to the XLT trim with the 2.0-liter EcoBoost adds only $5 more per month, according to Jalopnik.

The 2026 Hyundai Santa Cruz SE also fits, starting at $29,750. Jalopnik found that even adding all-wheel drive and the SEL trim with heated leatherette seats and a 12.3-inch touchscreen keeps the payment at $489. The Santa Cruz and the Maverick both earn a Consumer Reports recommendation.

For sedan buyers, the 2026 Toyota Camry — the best-selling car in the country — lands at $470 a month for a front-wheel-drive SE trim. Add all-wheel drive and it's $496. Sales are up 11.2% through September, Jalopnik notes.

The Honda CR-V set a sales record in the third quarter, and a 2026 CR-V LX with all-wheel drive comes out to $490 monthly. Its MSRP plus destination totals $34,570.

Finally, Jalopnik tested the old theory that Miata is always the answer. A 2026 Mazda MX-5 Miata starts at $32,045 with destination, giving a monthly payment of $447. That's the fun factor for less than $500 a month.

Keep in mind these payments assume a typical down payment and interest rate. A larger down payment or lower rate could drop the number further. Always check your own financing terms before signing.

• Ford Maverick
• Honda CR-V
• Hyundai Santa Cruz
• Jalopnik
• Kia EV3
• Mazda MX-5 Miata
• monthly payments
• Toyota Camry