A monthly payment of £400 gets you an awful lot of car. Indeed, that amount will get you a new car deal on just about any type of car you could want, whether you’re looking for a family-friendly SUV, a posh saloon, or a sporty little number. You’ll find all of those, and more, on this list of the best cars for £400 per month.
We’re looking at both leasing and personal contract purchase (PCP) deals. To secure a PCP deal, you pay a deposit then a series of monthly payments. When those payments end, you can make the optional final payment to take full ownership of the car, or give it back.
Leasing – technically called personal contract hire, or PCH – is effectively a long-term rental. You make an initial payment followed by monthly payments. At the end, you just hand the car back.
If your budget doesn’t quite stretch to £400 a month, check out our pick of the best cars available for £300 a month.
It is important to note that prices can fluctuate day-to-day for leasing rates, so there may be times a car jumps out of our price parameters which is why we don’t give exact figures for leasing deals. Give it a few days and the leasing rate may return back down in a couple of days. Finance will often be locked in for at least a couple of months meaning we can give accurate numbers for these.
Best new cars to lease (PCH) for £400 a month 2024
The stalwart family saloon is as good as ever
It's spacious enough for a family, the interior is well-trimmed and it's an enjoyable car to drive. Then there are the variants to choose between. BMW may have slimmed down the lineup in recent years, but you still have the pick of saloons and estates. Unfortunately, the tax-friendly PHEV 330e and monstrously quick M3 will set you back more than the £400 per month limit.
To find out more, read out full BMW 3 Series review
Leasing prices fluctuate too regularly to give an accurate offer. However, this car does fall within the £400 per month ballpark figure.
Pros
- Great fun to drive yet still comfortable
- High-quality interior with lots of tech
- Wide range of engines and trims available
Cons
- Jerky start/stop system
- Firm and fidgety ride on M Sport models
Striking seven-seater
You can get it in either mild or plug-in hybrid flavour, although the EV range in the latter isn’t that impressive. Those macho looks don’t translate into an engaging driving experience either, but it is at least comfortable and very refined, especially at motorway speeds.
To find out more, read our full Hyundai Santa Fe review
Leasing prices fluctuate too regularly to give an accurate offer. However, this car does fall within the £400 per month ballpark figure.
Pros
- Extremely spacious and practical
- Quiet and comfortable at speed
- Economical for its size
Cons
- Infotainment is a little fiddly
- Not that interesting to drive
BYD Seal
An excellent left-field performance saloon
So, should you take one over a Tesla Model 3? In the Seal’s favour, its interior is more welcoming, it’s better built and there’s more room inside. It’s a close call. But overall, it's a very convincing Chinese-built electric saloon, and its strength across the board is genuinely surprising.
To find out more, read our full BYD Seal review
Leasing prices fluctuate too regularly to give an accurate offer. However, this car does fall within the £400 per month ballpark figure
Pros
- Stylish, sleek and spacious
- Excellent range and performance
- Very well equipped
Cons
- Almost no brand awareness
- A Tesla Model 3 is easier to live with
Desirable, well-built electric SUV
Our budget stretches to the Enyaq 85 Edition model which has 348 miles of official range, triple-zone climate, adaptive cruise control, clever variable LED lights, front and rear parking sensors, and a rear-view camera. Most importantly, you get the biggest battery and a potential real-world range of around 300 miles.
To find out more, read our full Skoda Enyaq review
Leasing prices fluctuate too regularly to give an accurate offer. However, this car does fall within the £400 per month ballpark figure
Pros
- Comfortable and roomy interior
- Good electric range
- All-wheel-drive available
Cons
- Options jack up the price
- Looks a bit plain
Delightful premium hatchback
Leasing rates aren’t kind on face value. A comparable Volkswagen Golf costs £100 less per month, but the Civic skews heavily into premium territory with effortless comfort, a good list of standard kit and solid build-quality.
To find out more, read our full Honda Civic review
Leasing prices fluctuate too regularly to give an accurate offer. However, this car does fall within the £400 per month ballpark figure.
Deeply handsome saloon that’s great to drive
It’s also practical enough for family life and the latest version has brilliantly user-friendly infotainment system. The mid-range Veloce model has Apple CarPlay/Android Auto, satnav, adaptive cruise control, electric leather seats and a heated steering wheel. With a 280hp petrol engine, it’s rapid and does 30mpg if you behave with the throttle.
To find out more, read our full Alfa Romeo Giulia review
Leasing prices fluctuate too regularly to give an accurate offer. However, this car does fall within the £400 per month ballpark figure.
Pros
- Best-looking mid-size saloon
- Usefully spacious
- Just delightful to drive
Cons
- Interior quality lags behind rivals
- Efficiency isn’t great
The best cars to finance (PCP) for £400 per month
A hot hatch for grownups
The standard V models can be financed for less than £400 per month, but we'd recommend the range-topping VZ models if you can put down a heftier deposit. You'll get a sportier driving experience and better engine choices for your money.
To find out more, read our full Cupra Formentor review
Cupra Formentor VZ1 2.0 TSI
Monthly cost: £422.51 (48 payments)
Deposit: £6,000
Manufacturer's contribution: £4,000
Total amount payable: £47,320.77
Cash price: £32,525.00
Mileage allowance: 10,000 miles per year
APR: 4.9%
Pros
- Great to drive for an SUV
- Entry-level engine economical
- Eye-catching looks
Cons
- Firm ride in Cupra mode
- Fiddly infotainment system
Pragmatic family car choice
The boot is one of the largest for its class, and the rear seats offer a limousine-level lounging room. Folding them down essentially turns the Superb Estate into a small, stylish, and well-appointed van. Financing rates are excellent on Skodas at the minute, especially if you're after a 0% APR deal. The Superb can squeak in under £400 per month if you put down an £8,000 deposit.
To find out more, read our full Skoda Superb Estate review
Skoda Superb Estate SE Technology
Monthly cost: £399 (24 payments)
Deposit: £8,000
Manufacturer's contribution: zero
Total amount payable: £36,995
Cash price: £36,995
Mileage allowance: 8,000 miles per year
APR: 0%
Pros
- Comfortable
- Spacious interior
- Easy to drive
Cons
- Mild-hybrid engine is gutless
- Not that sharp to drive
Expert balance of performance and practicality
Beneath the performance, the Civic works well for day-to-day living. It's as well-made, and the only casualty to the practicality is a drop to four seats. The APR is steep, but it's a clever way to get a modern performance hero.
To find out more, read our Honda Civic Type-R review
Honda Civic Type R 2.0 VTEC
Monthly cost: £429 (36 payments)
Deposit: £10,321.62
Manufacturer's contribution: £2,500
Total amount payable: £56,852.02
Cash price: £50,050
Mileage allowance: 10,000 miles per year
APR: 6.9%
Pros
- Fast and accomplished
- Marvelous suspension
- Still comfortable
Cons
- Same money as a Porsche Cayman
- Strict four seater
Still the classiest mid-sized SUV for your money
That said, the opposition is strong. Audi’s Q3 and Q3 Sportback are both very well-rounded, while the Volvo XC40 majors on tech, plus there’s an all-electric version to choose from. For now, the Evoque is still the best premium SUV for the money – but the opposition is rapidly catching up.
To find out more, read our full Range Rover Evoque review
Range Rover Evoque 260PE
Monthly cost: £369 (49 payments)
Deposit: £10,158
Manufacturer's contribution: zero
Total amount payable: £51,086
Cash price: £49,000
Mileage allowance: 10,000 miles per year
APR: 1.87%
Pros
- Comfortable, refined and grown-up
- Plug-in hybrid version adds appeal
- Still our favourite premium SUV
Cons
- It's costly when loaded
- Petrol models' high running costs
Likeable premium electric SUV
The boot space is lacking compared to rivals, and we'd appreciate a few more physical controls. However, a low deposit and relatively low APR of 2.9% stand heavily in its favour, even if the 6,000-mile-per-year limit is stingy.
To find out more, read our full Smart #3 review
Smart #3 Pro+
Monthly cost: £399 (49 payments)
Deposit: £3,119
Manufacturer's contribution: Zero
Total amount payable: £36,595.61
Cash price: £33,950
Mileage allowance: 6,000 miles per year
APR: 1.49%
Pros
- Quiet and comfortable at speed
- Well-built, spacious interior
- Quick charging
Cons
- Boot is a little small
- Driver assistance technology is frustrating to use
**These deals are indicative examples of some packages available as of 14 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 product testing and deal hunting as our Deputy Commercial Content Editor, he’s a savvy shopper dedicated to helping you when it comes to choosing your next car.
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