Rather than shelling out the big bucks for a top-dollar ride, these models offer great value and efficiency for those on a budget.
The last few years have been rough for car manufacturers. Pandemic restrictions, geopolitical tensions, and a global shortage of semiconductors have meant that buying a new car often meant waiting weeks or months for delivery or paying above sticker price to secure any remaining inventory left on forecourts. Thankfully, it looks like the shortages should start to ease over the coming months, making now a good time to start looking for a new car if you’ve been holding off until this point.
The combination of supply shortages and inflation has driven the price of new cars to record highs in recent months, with December 2022 seeing an average new price of nearly $50,000. Luckily, there are still plenty of cars available for less than half of that figure, with a few even still retailing for under $20,000. Keep in mind that these prices don’t include things like destination fees, taxes, or dealer charges, which can vary by location. If you’re on a tight budget, or you simply want to spend as little as possible on your new car, then these twelve are currently the cheapest options on the market.Hyundai Elantra – $20,950
While a car this cheap is never going to be a thrill to drive, the 2023 Hyundai Elantra is a surprisingly competent all-rounder given the price. It’s comfortable inside, even if it’s a bit spartan in places, and there are decent amounts of safety tech as standard. The 147 horsepower and 132 lb-ft of torque on offer are more than enough for everyday highway and urban driving, and the Continuously Variable Transmission (CVT) is fairly smooth.
Styling is another of the Elantra’s strong points: Hyundai has gone to great lengths in recent years to make even its most affordable models look sharp, and the Elantra is a long way from the bland, nondescript look that budget sedans have historically been associated with. Whether you actually like the car’s styling is a different matter, especially since SlashGear found its sculpted sides became a magnet for road grime during a road test. Still, for budget transport that’s well-equipped and distinctively styled, it’s hard to knock the 2023 Elantra.VW Jetta – $20,665
The vast majority of the cheapest cars in America come from Japanese or South Korean brands, with the 2023 VW Jetta being the only European car to make it onto the list. At a starting price of just over $20,000 (plus fees), the Jetta is by far the cheapest car in the Volkswagen stable, but it was also the best-selling VW car model by far in 2022. Part of its appeal is that even base-spec models come with a turbocharged four-cylinder engine making 158 horsepower and 184 lb-ft of torque, making it one of the more powerful cars in its price bracket.
It’s also attractively styled, and there’s plenty of space in the cabin. Both the inside and outside of the car feel a little more blandly designed than the Jetta’s South Korean rivals, but everything feels solid and well-built. A Jetta is also one of the cheapest ways to get your hands on a manual transmission, if that’s your thing — an eight-speed auto ‚box is an $800 optional extra on base-spec trims.Nissan Kicks – $20,440
Buyer appetite for crossovers continues to grow every year, and one of the cheapest crossovers on the market is the Nissan Kicks. Every trim comes with a 122 horsepower 1.6L four-cylinder engine, with impressive fuel ratings of 31 mpg city and 36 mpg highway. That’s not quite on par with the most fuel-sipping sedans and hatchbacks, but it’s about as good as you’ll get for a crossover.
Even the cheapest models are available with connectivity options including Android Auto and Apple CarPlay, and there’s a suite of standard safety features on offer including Lane Departure Warning, Blind Spot Warning, and High Beam Assist. Pricier trims add niceties like a Bose sound system and intelligent cruise control, but ticking every option can add up to $3,000 to your total. At that price, there’s plenty of competition, with similarly-priced rivals offering better driving dynamics and less spartan interiors. To get the best value, then, it’s best to stick with the cheapest Kicks trim.Chevrolet Trax – $20,400
The Chevy Trax crossover was killed off after the 2022 model year, but recently re-emerged as a 2024 model year car, after skipping 2023 entirely. The car is manufactured in GM’s South Korean facility, with the first shipment leaving the country for the U.S. at the end of February 2023. Every Trax is powered by a 1.2L turbocharged three-cylinder engine making 137 horsepower and 162 lb-ft of torque.
