In today’s automotive market, there is an influx of new cars available. From compact to full-size SUVs to sporty two-door sedans, it’s easy for buyers to find the car of their dreams or at least something close to it. So what car should you buy if you’re on a budget?
With so many options comes a problem all too relatable: the price tags just keep getting higher. With new car tech infiltrating even the most affordable brands, the once affordable options have now gotten an upgrade both in style and in price.
According to Kelley Blue Book, new car prices are at an all time high. If you are a buyer in 2021, you are facing the following obstacles when the time comes to purchase:
- Rising interest rates
- Inflated monthly costs
- Increase in ownership expenses
While some buyers can adapt to these rising transaction costs, there are still many buyers looking for affordable SUVs and sedans that won’t break the bank. Essentially, a new car that is safe, efficient, and nice to look at. This helps guide us to the answer of the question, What car should you buy?
Check out our top suggestions for buyers with a budget of $20,000, ranking them from most to least expensive below.
What Car Should You Buy? Option 1: Volkswagen Jetta — MSRP $18,995
The Jetta has been a popular buy for years, notably as one of the most economical sedans on the market. Yet the 2021 model has us thanking the visionaries behind VW manufacturing for its sophisticated upgrade, including optional interior ambient lighting and clean line design. It’s affordable but packs in the modern amenities that buyers want.
— Rick Case Volkswagen (@RCVolkswagen) February 11, 2021
Option 2: Hyundai Veloster — MSRP $18,900
This three-door hatchback is a great option for buyers who want a unique and sporty ride. The 2021 Veloster comes equipped with ramped up tech, including wireless device charging, Heads-up Display, and Hyundai Smart Sense safety features with five trim options.
Option 3: Kia Forte — MSRP $17,890
The 2021 Kia Forte is hard to beat. With a spacious interior and favorable fuel economy, drivers of all ages can enjoy this understated sedan. It always ranks high among senior drivers looking for an affordable buy once retirement arrives.
What car should you buy? Option 4: Hyundai Accent — MSRP $15,395
The 2021 Hyundai Accent comes with three trim options and manual transmission in the SE option. With a 120 horsepower, the Accent lines up as a mid-range price option that is well-built and easy to drive.
Nissan Versa — MSRP $14,930
This subcompact car is a popular option for drivers on a tight budget, ranking as one of the lowest on our list. It delivers the classic Nissan aesthetic with a great MPG of 32 city / 40 hwy.
Chevrolet Spark — $13,400
The 2021 Chevrolet Spark packs a tiny punch, but it is the perfect car for single drivers who are looking for an economical purchase. This fun, spunky ride comes with over 10 color options to choose from, including mystic blue and cayenne orange, and upgraded two-tone exterior paint.
Behind the wheel of the Spark, you are sure to make a statement at the most affordable price.
Don’t let high pricing hold you back
It doesn’t take long to figure out that buying a new car is a costly transaction. With the rising prices, it can be a deterrent for buyers who want a safe and reliable car without the stress of a high monthly payment.
Luckily no buyer should have to feel weary about buying a new car. After evaluating this list, you’ll see there are a number of great options to choose from that won’t exceed the $20,000 limit.