SINGAPORE — If you are like most people in the Lion City, you would need to take a loan to buy a car. That means coming up with at least 30 per cent (or 40 per cent, at these price levels) of a new car’s cost for a down payment, and spreading the rest over a maximum of seven years.

Given current interest rates (and using the respective rates supplied by each brand below), a monthly budget of S$2,000 puts several interesting cars within reach. That’s the good news.

The bad news is, even if you have that much to spend on a car every month, the down payment is an enormous hurdle — for one of the models listed below, it amounts to S$94,400, a considerable sum to spend on a mere car.

For that reason, we have chosen two cars with a slightly different strategy, one involving no down payment at all, and one with a price that lets you pay off a hypothetical loan in four years instead of seven. Intrigued? Here are five cars to suit a monthly budget of S$2,000.

Lexus ES 300 Hybrid

S$236,000 with COE

Down payment: S$94,400

Monthly instalment: S$2,014

Not everyone can afford a Rolls-Royce, but for S$2,000 a month, you can have a car that is as silent as one. The Lexus ES Hybrid pairs an electric motor with a petrol engine ostensibly to reduce fuel consumption, but one of the benefits of hybrid drive is near-silent operation at times.

The Lexus recaptures waste energy under deceleration. This “free” energy is stored in a battery and used to give the car an electric boost, which gives the 2.5-litre petrol engine a relatively easy life.

All this happens seamlessly, so the car is eerily quiet with smooth acceleration and a roomy interior.

Indeed, the back of the ES was designed to make it possible for someone to be able to read a newspaper comfortably.

The cabin feels like something put together by Japanese craftsmen, too, although perhaps not quite to Rolls-Royce standards. Still, for S$2,014 a month, this is probably the most refined car money can buy.

Honda Accord

S$143,999 with COE

Down payment: S$57,600

Monthly instalment: S$1,186

Buying an Accord entails monthly payments of S$1,186 over seven years, which is far short of our S$2,000 budget. So why consider it? Because the Accord is an underrated car that feels more expensive than it is.

The controls have a well-oiled and precise action to them, the interior is spacious and comfy, and the car glides over bumps well to offer a smooth, quiet ride. In spite of its size, the Honda tackles corners nimbly, which makes it feel more like a frisky hatchback than a big executive sedan.

A recent facelift has updated its looks with lashings of chrome, intended to make it look sportier. Overall, the Accord feels like it was carefully engineered by people who knew what they were doing.

And if you really want to max out your budget, you could pay just under S$2,000 a month for an Accord and pay off your loan in full in only four years. That is just the sort of prudent thinking that cars like this were made for.

Chevrolet Cruze 
Sedan 1.4A Turbo

S$112,999 with COE

Down payment: S$0

Monthly instalment: S$1,990

No one said that spending S$2,000 a month on a new car automatically means having to buy one. The leasing route puts plenty of cars within reach for that budget, like Chevrolet’s Cruze 1.4. It has a peppy but frugal turbo engine, a six-speed automatic transmission, and a reasonably spacious cabin with a decently large boot.

Leasing a Cruze costs S$1,990 a month for five years, after which you return the car and look for your next machine to lease. That might seem strange, but it offers an alternative to the usual cycle of placing a hefty deposit, paying a monthly sum, selling your car and then using the proceeds for your next deposit.

In fact, leasing offers drivers a chance to manage their motoring expenses with predictable monthly payments, since annual expenses like road tax, insurance and sometimes even servicing are built into the monthly price.

Most leasing schemes require two months’ payment for a deposit and the first payment up front, but even that is much more manageable than the typical down payment for a hire-purchase agreement.

BMW 320i Gran 
Turismo M Sport

S$229,800 with COE

Down payment: S$91,920

Monthly instalment: S$1,950

BMW’s 3 Series cars are everywhere, so why not try the rarer Gran Turismo edition? It is a slightly upsized version of the car, being about 200mm longer, much of it for passengers in the back.

That gives it limo-like legroom inside, while the liftback-style body gives it an enormous boot. Fold the seats down, and you can cram 1,600 litres worth of cargo into the back.

A facelift has given the 320i GT the most subtle of visual updates, with new lamps front and rear and upgraded cabin materials, but the most noteworthy change to the car has been a new engine that uses less fuel. It is married to a new transmission that BMW says will trim fuel consumption by 3 per cent.

You have a 3 Series for less, but the bigger GT model obviously ticks more boxes than a regular one, and it is a reminder that one way to stretch your motoring dollar is to buy a stretched car.

Mercedes-Benz 
C 180 Cabriolet

S$222,888 with COE

Down payment: S$89,156

Monthly instalment: S$1,880

Two doors, four seats, a foldable roof and a three-pointed star are ingredients for motoring at its most glamorous, and the new C-Class Cabriolet delivers them all. Eventually, six versions of the new open-top Merc will go on sale here, but for now, there is a powerful C 300 version as well as an entry-level C 180.

Its 1.6-litre, turbocharged engine provides adequate performance, and launches the Mercedes to 100kmh in 8.9 seconds, but is more for lazy cruising with the wind in your hair than for sporty driving.

The fabric roof folds away in 20 seconds (and can do so on the move) and what is left is an enormously pretty car with an infinite amount of headroom. Careful aerodynamic work allows you to carry on a conversation in the cabin with the top down at highway speeds, and a special wind deflector helps to ensure that you do not arrive at work looking like you walked through a hurricane.

With the roof up, the Mercedes is surprisingly refined and quiet, and it has space in the back for two adults (preferably under 170cm in height). The boot is large, too, which makes the C 180 Cabriolet a car that is both fun and reasonably practical.

At S$1,880 a month it is a lot of money, after all, so you might as well get a lot of car for it.