In the market for a deal on a new car? If you can stretch to £300 per month, you’ll have a veritable treasure trove of finance deals to pick from. The sheer number of models that fall into this range is magnificent, though the most impressive thing is the number of new car deals on offer. But what are the best cars for £300 per month?
A new car budget of £300 per month unlocks a serious range of upmarket brands, as well as options such as saloons, SUVs, estates and electric cars. From simple SUVs to luxury badges certain to get the neighbour’s curtains twitching, we’ve combed the best cars for less than £300 a month. Of course, first you’ll need to decide what kind of finance package you’re after.
Leasing (sometimes called PCH) is essentially a form of renting. You pay an initial payment and 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 eventually own the car, while PCP is recommended if you want to keep your buying options open. Read on to discover our favourite car leasing deals costing £300 or less per month.
Best cars to lease for £300 a month 2024
The perfect family SUV
There's no fancy hybrid system and the infotainment is showing its age, but even they're not enough to put us off. The 1.5-litre petrol is frugal enough to return 40mpg and the infotainment is still serviceable. What seals the deal for us is the exceptional value for money, either on a PCP or a PCH. We're going to plug for a leasing deal here simply because it's a couple of quid cheaper per month.
To find out more, read our Skoda Karoq review
Pros
- Very comfortable interior
- Generous standard equipment
- Easy to drive with good visibility
Cons
- Not as sharp to drive as some rivals
- Lack of hybrid will put some off
All the space of a i5 or EQE without the price premium
It’s slower than the Tesla Model 3 and BYD Seal, but it’s also larger and considerably more accommodating for anyone who regularly ferries around people and their luggage. Opt for the bigger battery in Pro Match S form and you'll also get a real world range of 400 miles. It's by far the best EV Volkswagen sells, and it simply cannot be ignored at this price point.
To find out more, read our full Volkswagen ID.7 review
Pros
- Huge official range
- Nicely judged interior
- Comfort and refinement
Cons
- Infotainment still a bit fiddly
- Not Tesla fast
The fun family transport
It’s even more practical than you’d expect, with capacious rear seats and a usable boot, so long as you skip the plug-in hybrid that robs 100 litres of space. It’s not the most immediately rational pick, but it is one of the most dynamic and endearing SUVs on sale. It's also just been updated with new styling and an updated infotainment system.
To find out more, read our full Cupra Formentor review
Pros
- A lot of fun to drive
- Choice of powerful petrol engines
- Available with four-wheel drive
Cons
- Fiddly infotainment system
- Firm ride in Cupra mode
Classy premium hatchback
Despite being the least expensive model in its lineup, it still feels every bit a BMW. This is most evident in the interior: it’s full of plush materials smartly integrated technology. The boot and rear seats are a bit pokey, but the car remains a solid pick for £300 per month.
To find out more, read our full BMW 1 Series review
Pros
- Plush interior
- Prestigious image on a budget
- Superb refinement
Cons
- Cramped rear seats
- Performance versions are dull
A bona fide sports car
It also has an outstanding reputation for reliability. If you search around, both the 1.5-litre and 2.0-litre engines are available comfortably within budget. Despite being cheaper, we can't recommend the 1.5-litre. It's noticeably slower and not all that much less expensive per month compared with the larger unit.
To find out more, read our full Mazda MX-5 review
Pros
- Enormously good to drive
- Well-executed yet inexpensive
- Remarkably cheap to run
Cons
- Very compact interior
- Tiny boot
A sensible way to go electric
The highlight of this car is the space offered on the inside. Not only does it have a commendable 466-litre boot capacity, the interior itself feels huge. Two 12.3-inch touchscreens also help create a minimalist interior. It's a charisma vacuum for the keen driver, but it’s eminently capable and an affordable way to go electric.
Read our full Nissan Ariya review
Pros
- Solid battery range
- Simple, user-friendly dashboard
- Spacious for passengers
Cons
- A bit boring
- No front boot
Best PCP cars for £300 a month 2025
An outstanding electric family car
We're pushing the boat out and selecting the bells-and-whistles Iconic model complete with Harman Kardon audio, a panoramic sunroof, and 3D camera for easy parking. All of this can be had for £299 per month at 0% APR. That's a £45,495 car and a testament to just how good Renault's finance deals are. The cherry on this financial cake is the price parity for leasing deals, monthly costs are almost identical if you want to lease a Scenic instead.
To find out more, read our full Renault Scenic E-Tech review
Renault Scenic E-Tech Iconic
Monthly cost: £299 (25 payments)
Deposit: £13,649
Manufacturer's contribution: 0
Total amount payable: £45,495
Cash price: £45,495
Mileage allowance: 6,000 miles per year
APR: 0%
Pros
- Spacious, well-planned interior
- Superb real-world driving range
- Unbeatable monthly finance
Cons
- Fidgety ride at times
- Reasonably hefty deposit required for a PCP
Hugely impressive small SUV
There’s no hybrid option which may put some off, but the petrol engines on offer are frugal enough that it won’t be an issue. The pocket-friendliness extends to the finance available. The Kamiq can be had for £263 per month with 6.9% APR and a 10,000 mile limit. A 0% APR option is possible, but you'll be paying closer to £400 per month. It’s not the most interesting car on this list, but it’s easily recommendable.
To find out more, read our full Skoda Kamiq review
Skoda Kamiq SE Edition 1.0 TSI
Monthly cost: £263 (36 payments)
Deposit: £5,858.52
Manufacturer's contribution: £2,500
Total amount payable: £25,685
Cash price: £25,685
Mileage allowance: 10,000 miles per year
APR: 6.9%
Pros
- Handles well; comfortable ride
- Bright and well-made interior
- Low deposit for PCP deals
Cons
- Low seating position for an SUV
- Best-value PCP deal is nearly £400
Conventional family SUV with plenty of kit
Where the Tucson really comes into its own is value for money, especially when it comes to financing. You'll have a pick between petrol and a hybrid for less than £300 per month and we're plugging for the hybrid for its better fuel economy. The monthly payments are very reasonable, especially with 0% APR. If value is your ultimatum however, the standard Tucson can be had for just over £200 per month on a 0% APR deal.
To find out more, read our full Hyundai Tucson review
Hyundai Tucson Hybrid Advance 1.6T
Monthly cost: £239.67 (24 payments)
Deposit: £10,000
Manufacturer's contribution: 0
Total amount payable: £35,590
Cash price: £35,590
Mileage allowance: 10,000 miles per year
APR: 0%
Pros
- Comfortable and roomy interior
- User-friendly infotainment system
- Pick of powertrains for under £300 per month
Cons
- No diesel for long-distance drivers
- Not particularly fun to drive
Exceptional EV in every regard
There are loads of PCP deals available for the MG4 from as little as £169 per month with 0% APR. The range-topping Trophy can even be had for £279 per month. The only catch is a £10,000 minimum for the deposit. Or, for a far smaller deposit of just over £5,400, you can get a base spec example for £269 per month. You'll just need to put up with 2.9% APR.
To find out more, read our full MG MG4 review
MG MG4 Trophy Extended Range
Monthly cost: £279 (36 payments)
Deposit: £12,397.50
Manufacturer's contribution: 0
Total amount payable: £36,495
Cash price: £36,495
Mileage allowance: 8,000 miles per year
APR: 0%
Pros
- Better than far more expensive rivals
- Good ride/handling balance
- Long range and accurate readouts
Cons
- Touchscreen-led interior can be fiddly
- Some cheap plastics inside
The go-to hatchback
You won't get our picks of the range - the refined plug-in hybrid eTSI or the ever-popular sporty GTI models for £300 per month. You can however just about pick up the base model for £300 per month. With a low deposit of just over £4,000, it's a solid deal for a very solid car.
To find out more, read our full Volkswagen Golf review
Volkswagen Golf Life 1.5 TSI
Monthly cost: £305.08 (36 payments)
Deposit: £4,164
Manufacturer's contribution: £2,500
Total amount payable: £32,097.16
Cash price: £32,097.16
Mileage allowance: 10,000 miles per year
APR: 6.9%
Pros
- One of the best infotainment systems on sale
- Loads of engines, including new PHEV systems
- Build quality has improved over the old model
Cons
- Not the most engaging drive
- Average boot and rear space
Analogue pocket rocket
As the final edition of the 695, Abarth has thrown the catalogue of extras at it. From the most powerful 180hp engine tune partnered to a Monza exhaust for more noise to Brembo brakes and Koni suspension, this iteration of 695 has it all. Wrap it all up in gold wheels, stickers and big bucket seats for what is the ultimate old-school hot hatch.
To find out more, read our full Abarth 695 review
Abarth 75th anniversario 1.4 T-JET 180 HP
Monthly cost: £299 (48 payments)
Deposit: £3,999
Manufacturer's contribution: £30,51
Total amount payable: £37,496
Cash price: £32,930
Mileage allowance: 6,000 miles per year
APR: 5.37%
Update log
3 January 2025: Updated with a new selection of leasing deals. Removed MINI Countryman, added Skoda Karoq, Cupra Formentor and Mazda MX-5. Removed Audi A3 and Nissan Qashqai PCP deals. Added Skoda Kamiq, Hyundai Tucson and Abarth 695 PCP deals.
3 December 2024: Added Volkswagen ID.7 to article. Double-checked prices for all deals.
17 October 2024: Added PCP specs to existing deals and added the Renault Scenic. Double-checked prices for all deals.
2 October 2024: Updated with a new selection of leasing deals. Removed the Nissan Leaf, Volkswagen Taigo, Toyota Yaris Cross, Suzuki S-Cross, and Skoda Octavia Estate. Added the Skoda Kamiq, Volkswagen Golf, Nissan Ayria, MINI Countryman, and Cupra Formentor. Updated the Ford Puma and BMW 1-Series entry. Added the PCP section and populated it with deals.
These deals are indicative examples of some packages available as of 7 January 2025, 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.
Ryan Gilmore is the Car-Buying Editor at Parkers. Having cut his teeth as our Deputy Commercial Content Editor, he’s a savvy shopper dedicated to helping you when it comes to car shopping.
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