"Affordable Car Financing: A Rare Breed of Deals Emerges A new trend in car financing has emerged, with one in five deals offering monthly payments below $500. However, this affordable option comes with strings attached. According to Experian data, buyers typically need to make a significant down payment, opt for a less expensive vehicle, and boast an impressive credit score to qualify for these low monthly payments. As the automotive market continues to evolve, this shift in financing dynamics raises questions about the feasibility of affordable car ownership for the average consumer."
Monthly payments below $500 happen on a fifth of deals, but typically require large down payments, less expensive vehicles and high credit scores, Experian data shows.
