Cheapest Vehicle To Buy
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Americans are paying high prices for new cars, and the average transaction amounts keep climbing. The situation is enough to turn many buyers away, but waiting to buy isn't always an option. The good news is that there are still plenty of reasonably priced vehicles on sale, despite the fact that the market's going crazy.
We've gathered a list of the cheapest new cars on sale today. The cars you see here have starting prices that undercut most others, though it's important to remember that most automakers deliver cheap cars by cutting features and options.
Chevy discontinued the Spark. So Nissan's subcompact Versa is now the cheapest new car sold in America. It's not thrilling. It's not fancy. But it's known for delivering solid ride quality for its price point and earning 40 mpg on the highway. Nissan gave the Versa a facelift for 2023.
The Impreza is Subaru's smaller compact sedan. It is the vehicle line that birthed the legendary WRX, although the two cars no longer share any sheet metal. It's not the most refined compact out there. But it does come with standard Subaru AWD.
VW did not bring the base Mk8 Golf to America. So the Jetta sedan picks up the torch as Volkswagen's entry-level vehicle. It's not quite so dialed in on the performance front. But it's good-looking, has a lot of space and earns 42 mpg on the highway.
More affordable than the Kicks and Soul, the Hyundai Venue is the cheapest SUV in the US. The base SE model starts at just $20,795 in the US for 2023 and includes standard automatic emergency braking, an 8.0-inch touchscreen, and a 121-horsepower engine with up to 31 miles per gallon combined.
The Nissan Versa is the cheapest car and costs $16,755 with destination included. The next cheapest cars are the Mitsubishi Mirage ($17,290), the Kia Rio ($17,875), and the Mitsubishi Mirage G4 sedan ($18,290).
Many value-priced vehicles require big sacrifices. The Kia Rio, however, is surprisingly well-equipped and attractive. This five-person car is available as a sedan or hatchback and is a great choice for those on a budget or anyone who wants a modest, reliable car with a smooth ride and a comfortable interior. It handles well, though it isn't sporty, and comes with a long list of available safety features. It provides great fuel economy and has an excellent warranty for added peace of mind. The Rio makes buying a low-cost car an appealing proposition.
The Corolla sedan seats five and is one of the most practical vehicles on the market. It slots above the Toyota Prius hybrid and below the midsize Toyota Camry. The Corolla competes head-to-head with the Nissan Sentra, Honda Civic, Hyundai Elantra, and several other models in one of the industry's largest segments.
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Finally, I highly recommend pricing out insurance premiums at a number of automotive insurers prior to choosing which car to purchase, as prices per vehicle can vary dramatically. No vehicle here will break the bank on insurance costs versus the others, but there may be some differences.
As noted at the top, none of the vehicles that made this cheapest new vehicles in 2023 list are new or redesigned. Looking at a broader trend, a large number of cheap compact and subcompact vehicles have recently had their production end in recent years in favor of more development and focus on higher margin, higher demand trucks and SUVs (and now EVs):
There were only a few noteworthy changes to the 2023 cheapest cars ranking. The Chevy Spark and Hyundai Accent were both discontinued for 2023 and have dropped off of the list. The Subaru Impreza and Hyundai Elantra were the benefactors, coming in at #10 and #9 in the ranking, respectively.
In general, however, buying out o