The best cars for £300 per month

  • Choose from seven-seat SUVs to exciting hot hatches
  • 0% APR finance available on a number of these models
  • Choosing a lease can cut your monthly payments

If you're new to the idea of financing a car, you might really be surprised by what's out there for £300 per month. Although the quality in this price bracket is brilliant, the thing to write home about is the sheer number of cars on offer.

At anything less than £300 per month, you're only really looking at a select few cars. But £300 affords you posh saloons, crossovers, large SUVs, estates, sports cars, electric cars and big traditional MPVs.

This list consists of the best lease and PCP (Personal Contract Purchase) finance deals around. 

Leasing (sometimes called PCH or Personal Contract Hire) is essentially a form of renting. You pay an initial payment, then a series of monthly payments. Then that's it. You hand the car back.

PCP (Personal Contract Purchase) deals involve a deposit and a series of monthly payments. Then you choose if you want to buy at the end, with what is often referred to as a balloon payment.

Leasing is usually better if you don't want to buy a car. PCP is better if you want to keep your buying options open.

Best new cars for £300 a month 2020


LEASE: Audi A4

Best new car for £300 a month for: posh saloons

Audi A4 saloon

Premium German saloons for £300 (ish) a month are few and far between. So to bag an A4 for this price is pretty rare. But why do you want one? 

The A4 looks smart and businesslike from the outside, but inside is where it really excels. It feels as well made as a Swiss watch factory and there's a huge amount of tech on offer. For instance, Audi's virtual cockpit system, which displays relevant info like sat-nav and dials on a configurable 12.3-inch screen, is standard. Wind noise is impressively hushed too - making the A4 a perfect companion for long motorways schleps.

Your £300 affords you Sport spec cars - with sat-nav, parking camera, and 18-inch alloys.*

Leasing price: from £290 per month

LEASE: BMW i3

Best new car for £300 a month for: ground-breaking tech

BMW i3 side profile

The i3 was a ground-breaking small electric car when it first came out in 2013. Can you believe that shape is seven years old? Despite the i3's age, there are still very few posh and small electric vehicles on the market as competitors.

In short, it's a brilliantly capable electric car that adds a bit of dazzle to zero emissions driving. The interior is the main draw here - yes, it's rammed with tech you'd expect, but it looks other-worldly - and the dashboard is even made out of recycled material. Very green indeed.

How good value is this deal? Well, it was previously in our best cars for £400 per month article...*

Leasing price: from £268 per month

LEASE: Volvo XC40

Best new car for £300 a month for: chic crossover vibes

2018 blue Volvo XC40

The smallest of Volvo's SUV range brings Volvo ownership to buyers at a lower entry point. Despite it being the cheapest of the Volvo lot, it doesn't compromise on style or safety. It rides well too - it's much smoother than many cars of this size. And the interior is swisher than the norm as well.

The 1.5-litre engine available in this offer can be frugal, and Momentum trim brings with it a raft of safety software, a 12.0-inch infotainment screen and 18-inch alloy wheels.*

Leasing price: from £317 per month

LEASE: Peugeot e-208

Best new car for £300 a month for: zero-emission hatchbacks

2019 Peugeot e-208

An electric car with a range of 211 miles for less than £300 per month is pretty good value in anyone's books. Especially as it could halve - roughly - the cost of your commute. Well, assuming you drive anyway - it could save even more compared to train season tickets if your employer provides charging.

The e-208 is smart looking on the outside - and on the inside it has Peugeot's i-Cockpit system that replaces dials with customisable screens. This makes it feel every bit as futuristic as its electric power source.*

>> After an electric car? Check out what we think are the best electric cars for less than £300 per month

Leasing price: from £266 per month

LEASE: Nissan Qashqai

Best new car under £300 a month for: fitting in

2020 Nissan Qashqai

Even people who don't drive can tell you what a Nissan Qashqai is - that's just how popular they are. It sits between the smaller Juke and larger X-Trail in Nissan's SUV lineup, and is the de-facto medium-sized SUV for many families. 

It isn't outstanding in any one particular area, but achieves a good score in every discipline - making it a brilliant all-rounder.

Qashqais are especially tempting at these kinds of prices. For sub £300 per month there are a lot of Qashqai trim and engine variations available - we'd recommend going for a Tekna trim with an automatic gearbox.*

Leasing price: from £205 per month

*These deals are indicative examples of some packages available as of 15 September 2020 but are subject to change without prior notice. Everyone’s financial circumstances are different, and the availability of credit is subject to status. Terms, conditions and exclusions apply. Parkers cannot recommend a deal for you specifically. 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.


PCP: Vauxhall Grandland X

Best new car under £300 a month for: sensible SUVs

Vauxhall Grandland X

You don't see a great deal of these around, which is a shame, because the Grandland X is a solid and hugely sensible SUV from Vauxhall - a firm that knows its way around a 0% finance deal.

What's surprising is that despite the price, it's comfortable over long distances and whisper it ... quite handsome. Especially from the rear.

It's not best in class, but at this price, you can forgive it for its dull drive. The 1.2-litre petrol is perfect for this car - delivering excellent MPG (54.3), low emissions, and enough grunt to take you and the kids to whatever nonsense is going on this weekend.**

Vauxhall Grandland X SE Premium

  • Monthly cost: £290.17 (47 payments)
  • Deposit: £3,000 (including £4,000 deposit contribution)
  • Total amount payable by customer to buy car: £29,236.99
  • Cash price: £27,025
  • Mileage allowance: 8,000 miles per year
  • APR: 3.9%

Vauxhall Grandland X PCP deal

PCP: Hyundai Ioniq Hybrid

Best new car under £300 a month for: mpg

Hyundai Ioniq

What we have here is the Ioniq - Hyundai's medium-sized hatchback that comes in hybrid, plug-in hybrid, and fully-electric variations.

For sub £300 per month you're looking at the run-of-the-mill hybrid. We really rate it - it's a great value alternative to the likes of the Skoda Octavia, there's bags of equipment, and a five-year warranty too. 

The hybrid has a 1.6-litre petrol engine and an electric motor, which combine to make 141hp - which is good for a 0-62mph time of 10.8 seconds. It'll also do around 60mpg.

Massive deposit contribution makes this deal noteworthy.**

Hyundai Ioniq Hybrid Premium

  • Monthly cost: £290.94 (48 payments)
  • Deposit: £4,000 (including £1,000 deposit contribution)
  • Total amount payable by customer to buy car: £28,557.37
  • Cash price: £25,740
  • Mileage allowance: 10,000 miles per year
  • APR: 4.6%

Hyundai Ioniq PCP deal

PCP: Ford Focus

Best new car under £300 a month for: an accomplished all-rounder

Ford Focus

In a world where SUVs are fast becoming the default family car, the Ford Focus might seem like a relic from yesteryear. But, the Focus still serves a purpose. It's a family car - in that it has five doors, a big boot and comfy seats - but it's actually fun to drive too. Even with the least powerful engine, the Focus is taught and refined in a way that most SUVs aren't.

There are a few options out there for sub £300 per month, but we recommend the ST Line with the mild-hybrid Ecoboost engine. This offer is made especially tempting because of the 0% APR attached.

Ford Focus ST Line 1.0 EcoBoost MHEV 125PS

  • Monthly cost: £275 (36 payments)
  • Deposit: £4,968
  • Total amount payable by customer to buy car: £24,960
  • Cash price: £24,960
  • Mileage allowance: 9,000 miles per year
  • APR: 0% 

Ford Focus PCP deal

PCP: Honda e

Best new car under £300 a month for: a showstopping infotainment

Honda E charging

The Honda e definitely wins the contest for the happiest looking car for £300 per month.

That square body houses five doors and those door mirrors aren't really mirrors - they're cameras. It promises a WLTP-backed electric range of up to 136 miles, and it can be topped up to 80% capacity in 30 minutes using a rapid charger.

Inside, a big bank of screens across the dashboard are hi-tech and eye catching. Being an electric car, there's no transmission tunnel either, meaning there's loads of room up front.The rear is more cramped - but two adults should get in the back with relative ease.

This deal is for the Advance model - meaning it has the more powerful 154hp motor.**

Honda e Advance

  • Monthly cost: £299 (36 payments)
  • Deposit: £6,518.29
  • Total amount payable by customer to buy car: £33,152.87
  • Cash price: £29,660
  • Mileage allowance: 8,000 miles per year
  • APR: 5.9%

Honda E PCP deal

PCP: Toyota Yaris GR

Best new car under £300 a month for: driving pleasure

2020 Toyota Yaris GR

260hp for less than £300 per month makes the new Yaris GR a bargain in our eyes. The industry-standard 0-62mph is destroyed in 5.5 seconds thanks to a four-wheel drive system, while its short wheelbase (the distance between the front and rear wheels) makes it darty and fantastic fun to drive. 

Inside it looks pretty basic, but no more so than other performance hatches like the Ford Fiesta ST.

0% APR makes this a real performance bargain.**

Toyota Yaris GR

  • Monthly cost: £299 (24 payments)
  • Deposit: £6,378
  • Total amount payable by customer to buy car: £29,995
  • Cash price: £29,995
  • Mileage allowance: 8,000 miles per year
  • APR: 0%

Toyota Yaris GR PCP deal

What to read next - car finance 

>> Best cars for £90 per month
>> Best cars for £100 per month
>> Best cars for £150 per month
>> Best cars for £200 per month
>> Best cars for £400 per month
>> Best cars for £500 per month
>> Deal Watch: top cash, finance and leasing offers

Looking to learn more about car finance? Watch our video guides to PCP financePCH leasing and Hire Purchase, or visit our car finance calculator to find out how much you can afford to borrow.

>> What is PCP?
>> What happens at the end of a PCP deal?
>> How does car leasing work?
>> Lease or buy: rent or keep?
>> How to find cheap car finance

** These deals are indicative examples of some packages available as at 15 September 2020, but are subject to change without prior notice. Everyone's financial circumstances are different and the availability of credit is subject to status. Terms, conditions and exclusions apply. Parkers cannot recommend a deal for you specifically.

Bauer Consumer Media Limited is an appointed representative of ZenAuto Limited for the broking of regulated consumer 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.