The 10 Cheapest New Cars You Can Buy Right Now
I have bought many cars over the years, and I can tell you one thing for sure. Paying top dollar for a property that depreciates when you second hand it out is a bad feeling.
However, that is exactly what many consumers do. According to Kelley Blue Book, the average price of a new car in the US is close to an eye-watering $50,000.
You don’t have to spend anywhere near that amount to get a reliable, brand new ride with a factory warranty. If you’re willing to skip the fancy badges and big touchscreens, there are still a handful of real bargains out there.
Based on the latest market and pricing data from US News and Cars.com, here are the 10 absolute cheapest cars you can buy right now.
The 10 most affordable new cars on the market
- Nissan Versa: Starting at around $18,330, the Versa is currently the undisputed king of cheap cars. It’s a simple, compact sedan that gets the job done. While it won’t win any drag races, it boasts an EPA-estimated 35 miles per gallon combined. That means you save money at the grocery store and at the gas pump.
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Hyundai location: If you prefer the looks and ride height of an SUV crossover, the Terrain is your cheapest option at around $22,150. It’s actually a hatchback with a lift, which makes it easy to park in tight urban spaces.
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Chevrolet Trax: Starting at $23,495, the Trax is an open, stylish crossover that offers a lot of value. It is the cheapest vehicle GM currently sells and comes with many standard technology features.
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Kia Soul: The Kia Soul box starts at around $21,885. It has been a long-time favorite among budget buyers because its unique design offers an incredible amount of passenger and cargo room. It’s proof that you don’t have to sacrifice interior space just because you’re buying a cheap car.
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Nissan Kicks: Coming in at around $23,220, the Kicks offers a big standard engine and an attractive base price for a small SUV.
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Nissan Sentra: If the Versa is too small for your liking, its bigger sibling starts at $23,845. The Sentra offers a more comfortable cabin and ride quality than you would expect at this price point. It’s a solid, practical ride that won’t blow your monthly budget.
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Kia K4: Replacing the older Forte model, the new K4 starts at $23,535. It brings the outside and the standard wireless connection of the smartphone to the compact car part.
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Hyundai Elantra: Starting at $23,870, the Elantra offers quality driving features, a stunning cabin, and Hyundai’s 10-year powertrain warranty.
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Toyota Corolla: The Corolla starts at around $24,120. It’s exactly what you’d expect: a highly reliable, fuel-efficient machine that can last forever with basic maintenance.
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Volkswagen Jetta: Rounding out the top 10 at $25,270, the Jetta brings a European touch to drive development and a spacious interior in the budget segment.
Don’t forget the hidden costs
Buying a cheap car is a good start, but the sticker price isn’t the only number that matters. You also have to deal with the long-term costs of maintenance, gas, and insurance premiums.
If you need help navigating the dealership and finalizing a price on any of these models, check out “The Best Way to Buy a New Car (And Avoid Car Dealers).”
If you upgrade to a new model, your insurance rates will likely change. Be sure to shop around and compare quotes before you sign any sales papers.
(Related: See “This Car Insurance Mistake Costs 71% of Drivers – And They Don’t See It Again.”)
The bottom line is simple. You don’t need to spend 50 grand to get from point A to B. Stick to the basics, buy what you can comfortably afford, and keep all your money working for you in an investment account.
