Rivard-Royall GMC · Memphis, TN
Used Vehicles Under $400 a Month in Memphis, TN*
Smart pre-owned shopping starts with the payment, not the price tag. Every vehicle listed below is selected to land near a $400 monthly payment, making it easier to pair the right truck, SUV, or sedan with your budget before you visit our Mendenhall Road showroom.
*Estimated payment of $399/month assumes a $26,500 selling price and $5,000 cash down or trade equity, excludes tax, title, and license, and reflects 72 monthly payments at a 9.99% APR with approved credit. Your actual payment may vary; not all buyers will qualify.
All offers on all vehicles are subject to change at the discretion of Rivard Buick GMC. Rebates and incentives may change at any time, without notice. Always check with us to confirm all information shown and get up-to-date pricing, rebate information, and availability. You may qualify for additional offers and savings. We are not obligated to uphold typographical and system errors on our website. EPA Estimates Only. Tax and government fees are extra.
The Manufacturer's Suggested Retail Price excludes tax, title, license, dealer fees and optional equipment. Dealer sets final price.
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Serving the Mid-South
Pre-Owned Value Across Greater Memphis
From our showroom on Mendenhall Road, Rivard-Royall GMC serves payment-minded drivers throughout the Mid-South. Whether you're coming from the tree-lined streets of Germantown, the fast-growing neighborhoods of Collierville, or anywhere across Shelby County and northern Mississippi, our One Price Promise, straightforward financing, and instant Kelley Blue Book trade offers make it simple to shop a used vehicle around a $400 monthly payment.
Begin online with a quick financing application, then visit us to drive the vehicles that fit your budget — most of our customers are just a short trip up I-240 or Highway 385 away.
Memphis & TN Suburbs
- Germantown
- Collierville
- Bartlett
- Cordova
- Arlington
- Lakeland
- Millington
North Mississippi
- Southaven
- Olive Branch
- Horn Lake
- Hernando
East Arkansas
- West Memphis
- Marion
Buying on a Budget
Payment & Financing Questions
How do you get to $399 a month on a used vehicle?
Our example assumes a selling price of $26,500, then subtracts a $5,000 down payment or trade allowance, leaving $21,500 to finance. Spread over 72 monthly installments at 9.99% APR with approved credit, that lands at roughly $399 per month before tax, title, and license are added. Vehicles at or below that price point can sit near or under a $400 payment, depending on your terms and the specific unit.
What costs are not included in the monthly estimate?
The $399 figure reflects loan principal and interest only. Government charges such as Tennessee tax, title, and registration are billed separately, as are optional protections like a vehicle service contract or GAP coverage. Under our One Price Promise, the price posted on each vehicle is exactly what you negotiate from — we don't tack on a dealer fee or documentation fee at the desk.
Does a larger down payment really lower my payment that much?
Yes. Money down comes straight off the amount you borrow, so each dollar trims both what you owe monthly and the interest that accrues across the term. In our scenario, the $5,000 down is exactly what takes a $26,500 vehicle to a $21,500 loan and a payment near $399.
Can I use my current vehicle's value as the down payment?
The portion of your vehicle's worth that exceeds your remaining loan balance — your equity — can stand in for cash toward the purchase. Lock in a real figure in minutes with our Kelley Blue Book Instant Cash Offer. If your payoff happens to be larger than the appraisal, that gap usually rolls into the new loan and nudges the payment higher.
Is 9.99% APR the rate I'll actually receive?
It's an illustration, not a guarantee. The 9.99% used here applies to buyers who qualify on approved credit; a lender may extend a rate above or below that based on your credit history, the loan length, and current programs. A longer term softens the monthly figure but adds interest over the life of the loan.
Why is the loan amount different from the vehicle's price?
They're two separate numbers. The price is what the vehicle sells for; the financed amount is what remains once your down payment and trade equity are subtracted, plus anything you choose to roll in. Lenders base your payment on that financed balance, which is why a well-sized down payment moves the needle more than the price tag alone.
How do I figure out a payment I can comfortably afford?
Look past the loan payment to the full cost of ownership: Tennessee registration, insurance, fuel, and routine maintenance all factor in. Many shoppers try to keep total vehicle expenses to a comfortable slice of their take-home pay. Because the $399 estimate covers financing alone, it helps to add those surrounding costs into your own budget before committing.
How do I apply for financing or get pre-qualified in Memphis?
Start with our online financing application — it takes only a few minutes and lets our team line up a lender before you arrive. Prefer to talk it through? Call us at (901) 881-0179 and we'll walk you through your options and which in-stock vehicles fit a $400 payment.