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Car finance: best new cars for less than £300 per month

  • Choose from seven-seat SUVs to exciting sports cars
  • 0% APR finance available on a number of these models
  • Opting for PCH leasing can cut your monthly payments

Putting a brand-new car on the drive every few years used to be a pipe dream for most motorists, but low-cost PCH lease deals and manufacturer PCP finance schemes have made this a reality for many drivers.

That's because if you hunt down the best deals (or simply check out our regularly updated best deals and Deal Watch stories listed below), you can take your pick from dozens of enticing models for much less than you might think.

We’ve rounded up some of the most appealing models that you can drive for less than £300 per month with a deposit of £5,000 or less. Opt for one of these leasing deals and you run the car for the length of the contract, and then simply hand the keys back and step straight into another lease deal.

Go for PCP finance and you have a choice when the contract ends; either give the car back and go into a new PCP deal, hand the keys back and walk away or make the optional final payment to buy the car outright.

If you're still deciding whether to go for a lease or a PCP finance offer, check out the Parkers video guides above and have a look at the Parkers guide to PCH leasing and our story on everything you need to know about PCP finance, to help you make up your mind.

Take a look at our finance calculator to find out how much you can afford to borrow or if you're looking to lease, visit the Parkers leasing search tool.

Best new cars for under £300 a month 2019

Whether you’re shopping for a new car on a shoestring or have more cash to splash, we’ve rounded up the best cars available on PCP finance, whatever your budget. Check out the top deals below along with the Parkers Deal Watch page for all the latest offers:

Finally, if you need any more help deciding between leasing and PCP finance, take a look at our leasing vs PCP finance: pros and cons story.

LEASE: SEAT Tarraco - £291/month

Best new car under £300 a month for: practicality

SEAT Tarraco PCP finance

A massively practical interior, high driving position, strong but frugal diesel engine, SUV looks and slick automatic gearbox make this Tarraco a great family car.

Monthly payments come in at £291 for the 2.0 TDI 150 XCELLENCE Lux 4Drive DSG version, which includes seven seats, metallic paint and sat-nav as standard.*

That gets you the Tarraco on a two-year, 10,000-mile-per-year lease contract with £4,949 to pay upfront. Not much for such a large, capable car. 

SEAT Tarraco 2.0 TDI 150 XCELLENCE Lux 4Drive DSG

  • Monthly cost: £291 (23 payments)
  • Upfront payment: £4,750 (plus £199 admin fee)
  • Total amount payable by customer: £11,642
  • Cash price: £36,815
  • Mileage allowance: 10,000 miles per year
  • Excess mileage charge: 9.7p per mile

LEASE: Mazda MX-5 - £214/month

Best new car under £300 a month for: fun

Mazda MX-5 PCP finance

A folding soft-top, lightweight body, punchy engine and rear-wheel drive make the MX-5 great fun - whether you're whizzing along a country road or cruising along the coast.

It's surprisingly affordable even in this most powerful, top specification form. Monthly payments are just £214 if you put £4,949 down (on a 30-month, 10,000-mile-per-year contract).*

If that's still a little steep for you, you can get the entry-level 1.5-litre MX-5 for just £200 per month with a £2,500 deposit.

Mazda MX-5 2.0 184hp GT Sport Nav+

  • Monthly cost: £214 (30 payments)
  • Upfront payment: £4,750 (plus £199 admin fee)
  • Total amount payable by customer: £11,369
  • Cash price: £26,095
  • Mileage allowance: 10,000 miles per year
  • Excess mileage charge: 8.7p per mile

LEASE: Kia Stinger - £223/month

Best new car under £300 a month for: style

Kia Stinger PCH lease deal

Bold looks, a sleek silhouette and space for four, the striking Stinger is great value, too, at barely £220 per month on a lease.

That gets you the turbocharged 2.0-litre petrol version, which includes plenty of standard kit.

Monthly payments come in at just £223 on a 24-month lease with £4,949 to pay upfront and a 10,000-mile-per-year allowance.*

Kia Stinger 2.0 T-GDI GT-Line auto 

  • Monthly cost: £223 (23 payments)
  • Upfront payment: £4,750 (plus £199 admin fee)
  • Total amount payable by customer: £10,078
  • Cash price: £31,995
  • Mileage allowance: 10,000 miles per year
  • Excess mileage charge: 13.5p per mile

LEASE: BMW 4 Series Gran Coupe - £206/month

Best new car under £300 a month for: desirability

BMW 4 Series PCH leasing deal

It may have a price tag of nearly £40,000, but you can lease this BMW for barely £200 per month if you can afford a reasonably large upfront payment.

Put down £4,949 and the 2.0-litre diesel 4 Series Gran Coupe in desirable M Sport form could be yours for just £206 per month on a two-year, 10,000-mile-per-year contract.*

With stylish looks, four doors plus a useful hatchback and a punchy but economical diesel engine under the bonnet, the 4 Series should appeal equally to heart and head.

BMW 420d M Sport Gran Coupe

  • Monthly cost: £206 (23 payments)
  • Upfront payment: £4,750 (plus £199 admin fee)
  • Total amount payable by customer: £9,687
  • Cash price: £38,615
  • Mileage allowance: 10,000 miles per year
  • Excess mileage charge: 10.0p per mile

LEASE: Mazda CX-5 - £214/month

Best new car under £300 a month for: value

Mazda CX-5 PCH lease deal

Thought the Tarraco above was good value? How about another spacious, comfortable SUV for far less than the seven-seat SEAT?

This refined and frugal diesel-powered SUV comes in at just £214 per month with a £4,949 upfront payment on a two-year, 10,000-mile-per-year contract.*

With such low monthly payments, your bills will come in under £300 per month even if you put down less than £3,000.

Mazda CX-5 2.2d 150hp Sport Nav+

  • Monthly cost: £214 (23 payments)
  • Upfront payment: £4,750 (plus £199 admin fee)
  • Total amount payable by customer: £9,871
  • Cash price: £29,900
  • Mileage allowance: 10,000 miles per year
  • Excess mileage charge: 8.0p per mile

Want to find out more about car finance? Take a look at the links below:

PCP: Nissan 370Z - £257/month

Best new car under £300 a month for: excitement

Nissan 370Z PCP finance

The Nissan 370Z is one of the most engaging and best value old-fashioned sports cars still on sale. That's thanks to a hefty £3,500 deposit contribution discount from Nissan.

This rear-wheel drive 3.7-litre mini-muscle car blasts from a standstill to 62mph in just 5.3 seconds and could be yours for just £257 per month (£5,000 deposit, 25-month, 10,000-mile-per-year contract).*

That's despite a £30,000 price tag and the short contract - something which normally means higher monthly payments.  

Nissan 370Z Base

  • Monthly cost: £257 (24 payments)
  • Deposit: £5,000 (plus £3,500 manufacturer deposit contribution)
  • Total amount payable by customer if returning car: £11,168
  • Total amount payable by customer to buy car: £28,726
  • Cash price: £29,870
  • Mileage allowance: 10,000 miles per year
  • APR: 6.0%

PCP: Ford Kuga - £250/month

Best new car under £300 a month for: value if buying at end of contract

Ford Kuga PCP finance

A whopping £5,200 discount and interest-free credit make this high-specification four-wheel drive off-roader fantastic value.

This 180hp diesel Kuga could be yours for £250 per month on a 39-month contract with a £5,000 deposit and 9,000-mile-per-year allowance.*

Thanks to its powerful but relatively economical diesel engine, all-wheel drive traction and long list of standard kit, this is a great all-round family car.

Ford Kuga 2.0 TDCi 180hp AWD Titanium Edition

  • Monthly cost: £250 (38 payments)
  • Deposit: £5,000 (plus £5,200 manufacturer deposit contribution)
  • Total amount payable by customer if returning car: £14,495
  • Total amount payable by customer to buy car: £25,775
  • Cash price: £30,975
  • Mileage allowance: 9,000 miles per year
  • APR: 0%

PCP: Skoda Octavia Estate - £286/month

Best new car under £300 a month for: all-round ability

Skoda Octavia Estate PCP finance deal

With a massive boot, plenty of standard kit and a strong turbocharged petrol engine, this high-specification estate makes a lot of sense.

Throw in a £2,500 discount and you pay barely any interest on this sensible family car, since the saving cancels out most of the interest charged.

Payments for this Octavia Estate come in at a reasonable £286 per month on a 48-month contract with a £5,000 deposit and 10,000-mile-per-year allowance.*

Skoda Octavia Estate 2.0 TSI 190 SE L DSG

  • Monthly cost: £286 (47 payments)
  • Deposit: £5,000 (plus £2,500 manufacturer deposit contribution)
  • Total amount payable by customer if returning car: £18,462
  • Total amount payable by customer to buy car: £27,345
  • Cash price: £26,615
  • Mileage allowance: 10,000 miles per year
  • APR: 5.9%

PCP: Ford Focus Estate - £249/month

Best new car under £300 a month for: low running costs

Ford Focus Estate PCP finance

With a large boot, appealing styling and enjoyable drive – courtesy of a punchy turbocharged 182hp petrol engine – this Focus Estate is a capable all-rounder.

That’s especially true when you consider it’ll cost you just £249 per month in high-spec ST-Line X form on a 38-month, 9,000-mile-per-year contract with a £5,000 deposit*.

Making this finance offer such good value is a £1,900 deposit contribution discount from Ford, plus interest-free credit.

Ford Focus Estate 1.5 EcoBoost 182hp ST-Line X with Navigation

  • Monthly cost: £249 (38 payments)
  • Deposit: £5,000 (plus £1,900 manufacturer deposit contribution)
  • Total amount payable by customer if returning car: £14,458
  • Total amount payable by customer to buy car: £24,855
  • Cash price: £26,755
  • Mileage allowance: 9,000 miles per year
  • APR: 0%

PCP: Renault Megane RS - £239/month

Best new car under £300 a month for: roadholding

Renault Megane RS PCP finance

Many sporty hatchbacks cost well over £300 per month, but this Renault is just £239 per month even with a lower deposit than the other cars in our roundup (37-month contract, £3,669 deposit).

Despite the affordable monthly payment, you get a strong 280hp engine, great cornering abilities and attractive curvy styling.

Just bear in mind that you'll have to stick to a low 6,000-mile-per-year limit to avoid excess mileage charges. With such low monthly payments, though, it's still affordable if you go for 10,000 miles per year.

Renault Megane RS

  • Monthly cost: £239 (36 payments)
  • Deposit: £3,669 (no manufacturer deposit contribution)
  • Total amount payable by customer if returning car: £12,273
  • Total amount payable by customer to buy car: £27,835
  • Cash price: £27,835
  • Mileage allowance: 6,000 miles per year
  • APR: 0%

Looking to read more about car finance? The articles below may help:

*Deals are correct at time of publication. Everyone’s financial circumstances are different and credit is not always available – Parkers cannot recommend a deal for you specifically. These deals are indicative examples of some packages available this week. Bauer Consumer Media Limited is an appointed representative of ZenAuto Limited for the broking of regulated hire agreements. ZenAuto Limited is authorised and regulated by the Financial Conduct Authority. ZenAuto Limited's registered office is Number One, Great Exhibition Way, Kirkstall Forge, Leeds LS5 3BF. ZenAuto Limited's company registration number is 10967345. ZenAuto is the trading name of ZenAuto Limited. Terms, conditions and exclusions apply.