Best Car for Middle Class Family in United States 2016

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Best Cars for Middle-Class Americans

According to Experian, approximately 85% of new cars on the road are leased or financed. However, even though you might be able to secure a car loan, it doesn't mean that the payments fit perfectly into your budget. In the first quarter of 2019, the boilerplate loan amount on new vehicles was $32,187, and the average monthly payment was $554 — which is college than it has ever been before. If you're role of the eye class, why non opt for a reliable car that costs less but can still provide everything y'all demand?

To help Americans choose an affordable machine, GOBankingRates analyzed some of the best 2019 and 2020 vehicles and determined which ones are the most suitable for middle-class budgets. To make the list, a car could cost no more than than 10% of the average middle-class income in the U.Southward., which breaks downward to payments of $654 per calendar month.

No affair if your credit is considered very practiced, good or fair, the monthly payments for all the new cars on GOBankingRates' list come up in below the U.S. boilerplate of $554 quoted by Experian. In fact, your options range from $249 per month to $521 per month. Whether you're interested in a small car, midsize car, truck or SUV, you should exist able to find a reliable vehicle that will fit into your budget.

Concluding updated: Sept. xxx, 2019

thirty. 2019 Mini Cooper 4 Door

• Starting MSRP: $23,400

• Very good credit score

  • Monthly payment: $442

  • Minimum salary needed: $53,040

• Skilful credit score

  • Monthly payment: $474

  • Minimum salary needed: $56,880

• Fair credit score

  • Monthly payment: $521

  • Minimum bacon needed: $62,520

29. 2019 Buick Encore

• Starting MSRP: $23,200

• Very proficient credit score

  • Monthly payment: $438

  • Minimum salary needed: $52,560

• Proficient credit score

  • Monthly payment: $470

  • Minimum bacon needed: $56,400

• Fair credit score

  • Monthly payment: $516

  • Minimum bacon needed: $61,920

28. 2019 Chevrolet Malibu L

• Starting MSRP: $22,965

• Very expert credit score

  • Monthly payment: $433

  • Minimum bacon needed: $51,960

• Good credit score

  • Monthly payment: $466

  • Minimum salary needed: $55,920

• Fair credit score

  • Monthly payment: $511

  • Minimum salary needed: $61,320

27. 2019 Honda Insight

• Starting MSRP: $22,930

• Very good credit score

  • Monthly payment: $433

  • Minimum salary needed: $51,960

• Practiced credit score

  • Monthly payment: $465

  • Minimum salary needed: $55,800

• Fair credit score

  • Monthly payment: $510

  • Minimum bacon needed: $61,200

26. 2019 Ford Fusion Southward

• Starting MSRP: $22,840

• Very good credit score

  • Monthly payment: $431

  • Minimum salary needed: $51,720

• Expert credit score

  • Monthly payment: $463

  • Minimum salary needed: $55,560

• Fair credit score

  • Monthly payment: $508

  • Minimum salary needed: $threescore,960

25. 2020 Subaru Legacy

• Starting MSRP: $22,745

• Very expert credit score

  • Monthly payment: $429

  • Minimum salary needed: $51,480

• Skillful credit score

  • Monthly payment: $461

  • Minimum salary needed: $55,320

• Fair credit score

  • Monthly payment: $506

  • Minimum salary needed: $60,720

24. 2019 Hyundai Ioniq Hybrid

• Starting MSRP: $22,400

• Very good credit score

  • Monthly payment: $423

  • Minimum salary needed: $50,760

• Good credit score

  • Monthly payment: $454

  • Minimum bacon needed: $54,480

• Fair credit score

  • Monthly payment: $498

  • Minimum salary needed: $59,760

23. 2019 Jeep Renegade

• Starting MSRP: $22,275

• Very good credit score

  • Monthly payment: $420

  • Minimum salary needed: $50,400

• Expert credit score

  • Monthly payment: $452

  • Minimum salary needed: $54,240

• Fair credit score

  • Monthly payment: $495

  • Minimum salary needed: $59,400

22. 2019 Jeep Compass

• Starting MSRP: $22,095

• Very expert credit score

  • Monthly payment: $417

  • Minimum bacon needed: $l,040

• Adept credit score

  • Monthly payment: $448

  • Minimum salary needed: $53,760

• Fair credit score

  • Monthly payment: $491

  • Minimum salary needed: $58,920

21. 2019 Volkswagen Golf

• Starting MSRP: $21,845

• Very adept credit score

  • Monthly payment: $412

  • Minimum bacon needed: $49,440

• Good credit score

  • Monthly payment: $443

  • Minimum bacon needed: $53,160

• Fair credit score

  • Monthly payment: $486

  • Minimum bacon needed: $58,320

twenty. 2019 Chevrolet Colorado

• Starting MSRP: $21,300

• Very good credit score

  • Monthly payment: $402

  • Minimum salary needed: $48,240

• Proficient credit score

  • Monthly payment: $432

  • Minimum salary needed: $51,840

• Off-white credit score

  • Monthly payment: $474

  • Minimum salary needed: $56,880

xix. 2019 Mazda3

• Starting MSRP: $21,000

• Very good credit score

  • Monthly payment: $396

  • Minimum salary needed: $47,520

• Good credit score

  • Monthly payment: $426

  • Minimum salary needed: $51,120

• Fair credit score

  • Monthly payment: $467

  • Minimum salary needed: $56,040

18. 2019 Hyundai Tucson

• Starting MSRP: $xx,850

• Very skilful credit score

  • Monthly payment: $393

  • Minimum salary needed: $47,160

• Good credit score

  • Monthly payment: $423

  • Minimum salary needed: $50,760

• Off-white credit score

  • Monthly payment: $464

  • Minimum bacon needed: $55,680

17. 2019 Honda HR-5

• Starting MSRP: $twenty,620

• Very adept credit score

  • Monthly payment: $389

  • Minimum salary needed: $46,680

• Adept credit score

  • Monthly payment: $418

  • Minimum salary needed: $50,160

• Fair credit score

  • Monthly payment: $459

  • Minimum salary needed: $55,080

xvi. 2019 Honda Borough

• Starting MSRP: $nineteen,550

• Very good credit score

  • Monthly payment: $369

  • Minimum salary needed: $44,280

• Good credit score

  • Monthly payment: $396

  • Minimum salary needed: $47,520

• Fair credit score

  • Monthly payment: $435

  • Minimum salary needed: $52,200

fifteen. 2019 Nissan Frontier

• Starting MSRP: $nineteen,090

• Very skilful credit score

  • Monthly payment: $360

  • Minimum salary needed: $43,200

• Good credit score

  • Monthly payment: $387

  • Minimum salary needed: $46,440

• Fair credit score

  • Monthly payment: $425

  • Minimum salary needed: $51,000

14. 2019 Hyundai Sonata

• Starting MSRP: $18,900

• Very good credit score

  • Monthly payment: $357

  • Minimum salary needed: $42,840

• Good credit score

  • Monthly payment: $383

  • Minimum salary needed: $45,960

• Fair credit score

  • Monthly payment: $420

  • Minimum salary needed: $50,400

13. 2019 Volkswagen Jetta

• Starting MSRP: $eighteen,745

• Very good credit score

  • Monthly payment: $354

  • Minimum bacon needed: $42,480

• Good credit score

  • Monthly payment: $380

  • Minimum salary needed: $45,600

• Fair credit score

  • Monthly payment: $417

  • Minimum salary needed: $50,040

12. 2019 Chevrolet Cruze

• Starting MSRP: $17,995

• Very good credit score

  • Monthly payment: $339

  • Minimum bacon needed: $40,680

• Expert credit score

  • Monthly payment: $365

  • Minimum salary needed: $43,800

• Fair credit score

  • Monthly payment: $400

  • Minimum salary needed: $48,000

xi. 2020 Kia Forte

• Starting MSRP: $17,790

• Very proficient credit score

  • Monthly payment: $335

  • Minimum salary needed: $40,200

• Adept credit score

  • Monthly payment: $360

  • Minimum salary needed: $43,200

• Fair credit score

  • Monthly payment: $395

  • Minimum salary needed: $47,400

x. 2020 Hyundai Elantra

• Starting MSRP: $17,700

• Very good credit score

  • Monthly payment: $334

  • Minimum salary needed: $40,080

• Good credit score

  • Monthly payment: $359

  • Minimum salary needed: $43,080

• Fair credit score

  • Monthly payment: $394

  • Minimum salary needed: $47,280

9. 2020 Kia Soul

• Starting MSRP: $17,490

• Very good credit score

  • Monthly payment: $330

  • Minimum bacon needed: $39,600

• Good credit score

  • Monthly payment: $354

  • Minimum salary needed: $42,480

• Fair credit score

  • Monthly payment: $389

  • Minimum salary needed: $46,680

viii. 2019 Fiat 500

• Starting MSRP: $16,495

• Very good credit score

  • Monthly payment: $311

  • Minimum bacon needed: $37,320

• Good credit score

  • Monthly payment: $334

  • Minimum salary needed: $40,080

• Fair credit score

  • Monthly payment: $367

  • Minimum salary needed: $44,040

7. 2019 Honda Fit

• Starting MSRP: $16,190

• Very adept credit score

  • Monthly payment: $305

  • Minimum salary needed: $36,600

• Good credit score

  • Monthly payment: $328

  • Minimum salary needed: $39,360

• Fair credit score

  • Monthly payment: $360

  • Minimum salary needed: $43,200

6. 2019 Toyota Yaris

• Starting MSRP: $15,600

• Very good credit score

  • Monthly payment: $294

  • Minimum salary needed: $35,280

• Good credit score

  • Monthly payment: $316

  • Minimum salary needed: $37,920

• Fair credit score

  • Monthly payment: $347

  • Minimum salary needed: $41,640

5. 2019 Chevrolet Sonic

• Starting MSRP: $15,420

• Very skilful credit score

  • Monthly payment: $291

  • Minimum salary needed: $34,920

• Good credit score

  • Monthly payment: $313

  • Minimum salary needed: $37,560

• Fair credit score

  • Monthly payment: $343

  • Minimum salary needed: $41,160

4. 2019 Kia Rio

• Starting MSRP: $15,390

• Very good credit score

  • Monthly payment: $290

  • Minimum salary needed: $34,800

• Skilful credit score

  • Monthly payment: $312

  • Minimum bacon needed: $37,440

• Off-white credit score

  • Monthly payment: $342

  • Minimum salary needed: $41,040

3. 2020 Nissan Versa

• Starting MSRP: $14,730

• Very skilful credit score

  • Monthly payment: $278

  • Minimum salary needed: $33,360

• Good credit score

  • Monthly payment: $299

  • Minimum salary needed: $35,880

• Fair credit score

  • Monthly payment: $328

  • Minimum salary needed: $39,360

ii. 2019 Ford Fiesta

• Starting MSRP: $14,260

• Very good credit score

  • Monthly payment: $269

  • Minimum salary needed: $32,280

• Good credit score

  • Monthly payment: $289

  • Minimum salary needed: $34,680

• Fair credit score

  • Monthly payment: $317

  • Minimum salary needed: $38,040

1. 2019 Chevrolet Spark

• Starting MSRP: $13,220

• Very good credit score

  • Monthly payment: $249

  • Minimum salary needed: $29,880

• Good credit score

  • Monthly payment: $268

  • Minimum salary needed: $32,160

• Fair credit score

  • Monthly payment: $294

  • Minimum salary needed: $35,280

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Methodology: GOBankingRates analyzed 60 of the top 2019 and 2020 cars in this study to determine the best cars for the middle class. GOBankingRates determined the middle-class income past sourcing the Pew Research Center'due south 2016 median household income past income tier in U.S. states, which has the U.Southward. middle-class income at $78,442. The range of monthly car payments was determined based on the Agency of Labor Statistics' 2018 Consumer Expenditure Survey, which shows that Americans have a mean income of $78,635 before taxes and spend $3,975 on vehicle purchases (internet outlay), plus $222 on vehicle finance charges; thus, Americans spend approximately 5% of their annual income on vehicle purchases and finance charges. This served as the low cease of the price range, and 10% served every bit the high end (assuming that fifty% of income is spent on necessities, with housing costing a maximum of 30%, vehicles costing 10% and other necessities costing 10%). Individual vehicle websites were sourced for starting MSRPs, and CarMax's payment calculator was used to decide monthly payments with off-white credit, good credit and very good credit. The salary analyzed was $78,442 before taxes; then long as almanac car payments came in under 10% of the center-form income, they were included in the last ranking. Payments were based on no down payment and 60-month finance terms. All data used to conduct this study was compiled and verified on Sept. 12, 2019.

Photos are for representational purposes just and might not feature the exact models, base models or specific trim levels mentioned in this article. Equally a result, some of the cars in the photos may be priced differently from the starting MSRPs.

This commodity originally appeared on GOBankingRates.com: Best Cars for Center-Class Americans

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Source: https://finance.yahoo.com/news/best-cars-middle-class-americans-090000561.html