With new and used car prices preventing buyers from snagging a deal in 2022, it’s time to approach the car buying scenario a bit differently. Rather than setting your sights on expensive trim levels and safety tech upgrades, it might be time to focus your energies on the bottom end of the market. Of course, we don’t mean sacrificing on safety or functionality, but we do recommend taking a look at the low-cost options with decent styling and thrifty fuel economy. In this guide, we’ll break down the 5 cheapest new cars to buy in today’s market.
Cheapest new cars to buy in the new year
After taking an introspective look at the automotive market this year, we’ve come to realize that even entry-level models come equipped with an index of attractive features. From standard driver assistance features to impressive car tech, it’s clear the lower end models deserve greater recognition. Now that the average new car price is costing buyers up to $50,000, it’s not a bad idea to consider the most affordable option, even if it means there is some sacrifice involved.
If size or comfort isn’t a deal breaker, the 2023 Mitsubishi Mirage may just be a winner in your eyes. The Mirage’s most positive attributes include amazing fuel efficiency, boosting 43 mpg on the highway, and a 10 year, 100,000 mile warranty. While there’s not much to say about the exterior styling or horsepower, the Mitsubishi Mirage has a starting price of $16,245. That puts this model well below the national average.
Every time a driver asks us, “What is the best cheap car on the market?”, we immediately think of the Nissan Versa. This model is your basic sedan, plain and simple. Yet, it consistently falls high on our list because it’s backed by Nissan’s Safety Sense technology and is widely known for its smooth ride. The 2023 Nissan Versa is actually the most affordable car on the U.S. automotive market with a starting price of $15,580.
When Hyundai debuted the Venue back in 2019, we were initially skeptical of this subcompact SUV. Apart from being small in stature, we couldn’t totally understand why buyers wouldn’t favor the Tucson or Santa Fe instead. It turns out now the 2023 Hyundai Venue fills the gap for buyers in the $20,000 or less price range, with an MSRP of $19,000. With 33 mpg highway and safety features like driver attention warning (DAW) and lane keep assist, this model is adequate enough as a low-cost option.
The Kia Forte is one of those vehicles that continually makes sense for buyers to stay interested in. For older drivers, particularly, it has become one of the most affordable and safest options available. Things we love about the Kia Forte include its range of horsepower, convenient fuel economy, and its resemblance to the highly popular, K5. Overall, for a starting price of $19,490, you really can’t deny its one of the cheapest new cars to buy nowadays.
Last but not least, we pay homage to one of the most iconic models to grace the automotive market in recent years. The Kia Soul is known for its funky styling, creative marketing, and spacious interior. That’s precisely why its landed on our list of the cheapest new cars to buy. With an MSRP of $19,790, buyers won’t have much trouble getting behind the wheel of this infamous “box car” nor require a substantial down payment. In addition, the 2023 model brings a much-welcomed facelift to this versatile and fuel efficient vehicle.
Here’s a first-look at the all-new (and improved) 2023 Kia Soul:
What do you think of our list of the cheapest new cars to buy? Comment and share your thoughts below!