After a tumultuous few years in the auto market, it seems like things have finally reached their peak. While experts predict new car fleets will return back to normal after endless delays, one thing we don’t see changing too much is the pricing. In a perfect world, price wouldn’t matter when it comes to purchasing a new vehicle. However, as most of us know, pricing happens to be the biggest contributor to car buy decisions. Since the market shows imminent return to pre-pandemic days, here’s a look at the top 3 vehicles a driver can buy for under the $20,000 price point.
Most vehicles nowadays fall way above MSRP. In fact, it’s nearly hard to believe that most new cars sell close to $50,000 or more. This reality has made for an unpleasant car market, particularly for buyers who don’t have the extra cash lying around for a hefty down payment. It doesn’t help that interest rates are spiking too. For those who can’t stomach the high-cost monthly payments or simply just looking for a basic commuter vehicle, here’s the 3 vehicles to keep in mind:
Mitsubishi Mirage
Starting Price: $16,245
Top Price: $18,145
The Mitsubishi Mirage is not the most powerful small sedan to grace the automotive market over the years (reaching only 78 horsepower), yet one can’t deny its low cost and excellent fuel economy make for a great budget-friendly buy. With an EPA fuel economy of 39 mpg, the Mirage is the perfect commuter vehicle or first-time purchase for tight-walleted drivers. Its safety rating is middling and engine quality may be lacking in reliability, however, it comes equipped with features like forward collision warning and Apple CarPlay and Android Auto.
Kia Rio
Starting Price: $16,450
Top Price: $17,690
Kia as brand has undergone significant modernization in recent years, hence the new logo. However, budget-friendly shoppers will be glad to know the Kia Rio is no exception. This compact sedan fits the bill as being among top 3 vehicles under $20,000, however, there’s so much more to offer. Aside from pricing, things we value in the Kia Rio sedan/hatchback include its modest engine power at 120 horsepower, gas-friendly tank, and great warranty coverage.
Nissan Versa
Starting Price: $15,730
Top Price: $19,720
Backed by Nissan’s top-of-the-line safety and smooth handling, the Nissan Versa continually ranks at the top of our list as best sedans for the money. Not only is this one of 3 vehicles that retail under $20,000, it just so happens to be great on fuel economy, safety, and comfortability. The 2023 version got a front end upgrade that is both stylish and sleek. Because the price is so low, you have the option to splurge on add-ons like LED headlights and adaptive cruise control.
Final thoughts
Overall, the car market offers little to be desired in terms of a “good deal”. While new cars keep getting more impressive with each year that passes, the prices seemingly have fallen out of favor with buyers. Stifled among a sellers market, drivers with limited budgets have to do some extra legwork to find a reasonable option to consider.
Our team of writers at Headlights.com is always looking for ways to help drivers decrease their monthly costs and save money in general. If you enjoyed our feature on these under $20,000 finds, take a moment to read our feature on the Best Used Cars Under $10,000.