Considering to buy a new car on a tight budget? Worry not, 'cause we got you covered!

Budget-conscious Filipinos will benefit the most on this article from Philcarnews.com because we will be talking about the cars with the lowest down payment and monthly payment this 2018. This will surely help so as not to overwhelm buyers when purchasing their own autos and instead of paying whole upfront, they can spend their money in other important aspects such as emergency funds, daily necessities, tuition fees, and luxuries such as travel.

They can also maintain their bought car this way as we all know how costly car maintenance could get too. Without further ado, let’s dive right into the cheapest cars with low monthly payments in the country this year:

1. Kia Picanto 1.0 SL MT   2018 (SRP: P635,000 / Monthly: P10,082 – P11,881)

Kia’s smallest car, the Picanto, is very budget friendly as it is one of the most fuel-efficient cars in the Philippines plus you only pay around P10,082 per month for it. This sporty car exerted its efforts beautifying the interior as the company realized that car owners and even enthusiasts look at the inside more than the exterior of a car.

It looks grown up despite its size, thanks to the infotainment system and well-sized multifunction steering wheel

2. Chevrolet Spark 1.4 LT MT 2018 (SRP: P 694,888 / Monthly: P11,862)

Those who are budget and value conscious will rave about this car. It’s another mini on the list that’s not too gimmicky and looks handsome both on the outside and inside (You’re the only one missing!).

You can bring up to 4 people with you and there’s enough space for baggage at the back so it’s perfect for a small family who loves to go camping or going to the mall. The legroom is sufficiently complemented with comfortable seating with a 4-way adjustment driver seat and two for the rest of the lineup.

The premium look outside just gets better inside

Turn heads and feel safe with this smooth drive that the Chevy model offers.

3. Mitsubishi Mirage 1.2 GLS MT 2018 (SRP: P692,000 / Monthly:  P11,812)

Admittedly one of the most affordable cars with the lowest monthly payment, the Mitsubishi Mirage is an attractive bulbous hatchback with details that might surprise you. It has that X-shaped chrome garnish on the lower bumper that gives it a more distinctive look among other cars.

It’s more fun inside with the Bluetooth connectivity. The engine has been refined so that you have a quiet drive, there will be hums but it will recede quickly into the background. It’s also fuel efficient with only 25km/L fuel mileage in light traffic and during highway situations.

This little baby definitely puts multi-million autos into shame as it is only at P692,000 SRP due to its versatility and looks

4. Suzuki Alto 800 STD MT (SRP: P445,000 / Monthly: P8,239)

As the cheapest low monthly payment car in the Philippines this year, it could be the Suzuki Alto hatchback. Because of that, you’d be wrong to think it’s a low-quality car – it’s definitely not. If we were, to sum up the qualities of this car into two words it would be – basic transport.

That’s a good thing if you’re not into being flashy in our robbery ridden country. You don’t have to hunt for months now with second-hand cars if your main objective is to just lower on your costs.

Styling is very basic, the bumpers aren’t even painted but on the upside, you can go ahead and customize it whatever way you want it to be. Open the doors and you’ll be greeted by old school design as well.

The windows must be manually cranked, do we need to say more? But worry not, it has managed to have an upgraded system with its radio and USB ports for your sound tripping while on the road.

What it lacks in looking modern like its competition, it makes up for its drive

The robust 0.8-liter 3-cylinder 12-valve gasoline engine lets you enjoy 34km/L fuel mileage, making it not only cost-efficient but one of the cheapest cars in the Philippines with low monthly payment.

5. Toyota Wigo (SRP: P675,000 / Monthly: P10,082)

The Japanese car makers already have a packed auto lineup but that didn’t stop them from making the Wigo. This car wouldn’t make you believe it’s one of the cheapest cars in the Philippines with low monthly payments.

The only part of the car that would make you think it’s cheap is probably the untrimmed sharp edges in the plastic under the dash and around the air vents. Step inside and you’ll be greeted by touch response and sound. This car gives you a steady and quiet ride.

It could easily be every new driver’s car who wants a bit of luxury to come with it

Cars Below 500k in the Philippines

To widen your selection, we present to you different models of cars that are also affordable.

Minivans

• BAIC MZ40  - P488,000

• Haima F Star PC  - P449,000

Sedan

• Lifan 520  - P498,000

Truck

• Cherry Q22B  - P470,000

We hope that we made your car shopping easier by narrowing down the lists of the cheapest brand new cars in the Philippines for all you budget-conscious drivers out there. Keep in mind though, the expense doesn’t stop with just purchasing the car. You have to consider the costs for fuel, LTO registration, car insurance, parking, car maintenance and repair, and the car loan amortization that might cost as much as your car’s SRP to be honest.

We understand that you might have to read more articles before you make a decision as this is a big step for you. Take your time and be prepared physically and mentally as much as possible before finally investing your hard-earned money to the most worthy vehicle of your choice. When that day comes you’ll be ready to answer the question, “Can you really afford to own a car this 2018?”

>>> Click here to get more helpful tips and advice for all car owners