Best 9 cars for £120 per month

  • Nine PCP heavyweights for a £120 monthly budget
  • A number of different deposits and balloon payments
  • Version and engine selection with costs for each car

The overwhelming majority of new cars sold today are funded by finance deals such as PCPs.

There are many advantages to this over buying a car outright, but one of the main ones is transparency: with a set amount to pay every month, you always know what your car is going to cost so you minimise any nasty surprises.

So what can you get for your cash? In this article we assume a monthly budget of £120.

 

Skoda Fabia

Skoda Fabia

First up is one of our favourite small cars, thanks to its practicality and fun driving experience.

We think the 1.0-litre three-cylinder petrol engine in the entry-level Fabia is a great way to save money both up front and with low running costs too.

Entry-level S cars aren’t brimming with kit but you can expect Bluetooth connectivity and DAB radio, plus height- and reach-adjustable steering wheel, and heated, electrically adjustable door mirrors.

Vital statistics

Parkers rating: 4.5 stars

New price range: £10,750 - £18,025

Monthly cost: £119.83 (Skoda Fabia Hatch S 1.0 MPI 75hp – deposit £1,741.50, balloon payment £4,718.70, 36 months)*

Read the full Skoda Fabia review by clicking here

Click here to view the latest Skoda Fabia cars for sale

 

Renault Clio

Next on our list is the popular Renault Clio. This stylish hatch may stand out more in the car park but it also comes with five doors as standard, offering as much practicality as the Skoda Fabia (above).

With enough space for four people and a comfortable ride, it's not difficult to see why the Clio has found so many homes.

We’ve picked out a Play spec car which gets you air-con, front foglights and 16-inch alloy wheels. An optional three-year/30,000-mile service plan costs £299.

Vital statistics

Parkers rating: 4 stars

New price range: £11,815 - £22,425

Monthly cost: £118 (Renault Clio Play 1.2 16V 75 – deposit £2,750, balloon payment £4,928, 37 months)*

Read the full Renault Clio review by clicking here

Click here to view the latest Renault Clio cars for sale

 

Seat Ibiza

With contemporary design and cheap running costs, the SEAT Ibiza, here in three-door SC guise, is a great mix of practicality, good looks and fun.

SE-grade cars get sat-nav, DAB radio, touchscreen infotainment system, and 15-inch alloy wheels. 

There’s not a huge amount of power from the 1.0-litre petrol engine but more than enough to cruise around town with and hold your own on the motorway.

Vital statistics

Parkers rating: 4.5 stars

New price range: £9,995 - £17,835

Monthly cost: £118.61 (Seat Ibiza SC SE Technology, 1.0-litre 75hp – deposit £2,000, balloon payment £4,024.65, 48 months)*

Read the full SEAT Ibiza review by clicking here

Click here to view the latest SEAT Ibiza cars for sale

 

Suzuki Swift

Good value and fun to drive, but with an ease of use missing from other sporty hatchbacks, the Suzuki Swift adds a dash of practicality to proceedings.

As such the SZ2 trim we’ve got here includes seven airbags, central locking, electric door mirrors and front windows, plus a CD stereo with MP3 connection.

All cars are powered by a 1.2-litre petrol engine offering a good mix of performance and low running costs.

Vital statistics

Parkers rating: 4 stars

New price range: £9,249 - £14,599

Monthly cost: £109 (Swift SZ2 5dr – deposit £2,128, balloon payment £3,016, 48 months)*

Read the full Suzuki Swift review by clicking here

Click here to view the latest Suzuki Swift cars for sale

 

Fiat Panda

Fiat Panda

Those boxy proportions may not lend the Fiat Panda a sleek and sporty look but they do unlock huge interior space for such a small car.

Small dimensions also mean the 1.2-litre petrol engine doesn’t have to work too hard, so delivers good performance and economy.

Pop trim gets you niceties like body colour bumpers, four airbags, radio with CD player and central locking.

Vital statistics

Parkers rating: 4 stars

New price range: £9,589 - £16,689

Monthly cost: £119 (Fiat Panda Pop 1.2 69hp) – deposit £119, balloon payment £2,266, 48 months)*

Read the full Fiat Panda review by clicking here

Click here to view the latest Fiat Panda cars for sale

 

Toyota Aygo

Fun and distinctive-looking, the Toyota Aygo stands out in a crowded world of city cars thanks to its good equipment levels and hardy construction.

This x-play trim sits above the basic 'x' meaning some big-ticket features like air-conditioning, Bluetooth and USB with DAB radio.

Its 1.0-litre engine isn’t the last word in pace but picks up well in town and sips fuel if you treat it with a light right foot.

Vital statistics

Parkers rating: 4 stars

New price range: £ 9,135 - £15,120

Monthly cost: £120 (Toyota Aygo x-play 1.0 Petrol (69hp) 5dr – deposit £1,975.00, balloon payment £4,140.00, 42 months)*

Read the full Toyota Aygo review by clicking here

Click here to view the latest Toyota Aygo cars for sale

 

Dacia Logan MCV

If you are looking to maximise load capacity, we've managed to find an estate with the Dacia Logan MCV.

Instead of buying a cheap-as-chips base-spec car, here you can afford a mid-trim Ambiance Prime with a frugal 1.5-litre diesel engine.

As well as getting alloy wheels, a USB port and central locking, the dCi 90 1.5-litre engine is a big step up from the bottom-of-the-ladder unit in terms of performance.

Vital statistics

Parkers rating: 3.5 stars

New price range: £6,995 - £11,095

Monthly cost: £119 (Dacia Logan MCV Ambiance Prime dCi 90 – deposit £2,370, balloon payment £3,567, 49 months)*

Read the full Dacia Logan MCV review by clicking here

Click here to view the latest Dacia Logan MCV cars for sale

 

Hyundai i10

This might be the smallest vehicle from the Korean firm but it still offers a combination of good value and high specification. This SE trim car comes with remote central locking, electric windows and heated door mirrors, air-con and a height-adjustable driver’s seat.

The 1.0-litre, three-cylinder engine here has a characteristic thrum while returning good fuel economy at the pumps.

Vital statistics

Parkers rating: 4 stars

New price range: £8,995 - £13,045

Monthly cost: £116.42 (Hyundai i10 i10 SE 1.0 – deposit £1,850.00, balloon payment £3,510.00, 36 months)*

Read the full Hyundai i10 review by clicking here. 

Click here to view the latest Hyundai i10 cars for sale

 

Nissan Micra

Hyundai i10

This latest-generation Micra has moved on in terms of styling, with modern looks and an interestingly laid-out cabin rather than the older, utilitarian models.

The value for money proposition remains though, especially in mid-spec Acenta cars that come with alloy wheels, climate control and cruise control.

You also get a perfectly acceptable 1.2-litre petrol engine that balances decent performance with frugal fuel costs.

Vital statistics

Parkers rating: 3 stars

New price range: £7,995 - £13,455

Monthly cost: £120 (Nissan Micra Acenta 1.2 manual – deposit £2,750, balloon payment £3,564.00, 36 months)*

Read the full Nissan Micra review by clicking here

Click here to view the latest Nissan Micra cars for sale


Need more help? Maybe the below articles can help:

How to buy a brand new car for the cost of a monthly mobile phone bill

New car finance vs used cars

Top 10 new cars for £99 a month

Car finance: which option is right for you?

The small print of dealer finance