You won't find performance or space shopping in the bargain bin. But you can get fuel economy and modern tech.
Used car prices have been rising. Many vehicles that may have been a great deal coming off a lease a few years ago are not now. Your best value option — contrary to old car buying chestnuts of yore — may be buying a brand new car at the bottom end of the market.
As with any product, an affordable price point for a car comes with sacrifices. These cars won’t provide much in the way of performance or space. And we’re well past the days when you could get a capable Jeep Wrangler for less than $20,000. But you can still get a car that drives well, looks decent and earns a thrifty 40-plus mpg on the highway. And even the bargain bin cars come with some new tech you will seldom find on even recent vintage used cars.
Here are the 10 cheapest cars you can buy in America that are available for the 2023 model year. Sadly, the Ford Maverick, after a price hike, is no longer on this list.
Nissan Versa – $15,580
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.
- Horsepower: 122
- Torque: 114 lb-ft
- EPA Fuel Economy: 32 mpg city, 40 mpg highway
- Starting Price: $15,580
Mitsubishi Mirage – $16,245
There’s not much to say about the Mitsubishi Mirage. It’s cheap. It earns 43 mpg on the highway. And it does have a 10-year, 100,000-mile powertrain warranty.
- Horsepower: 78
- Torque: 74 lb-ft
- EPA Fuel Economy: 36 mpg city, 43 mpg highway
- Starting Price: $16,245
Kia Rio — $16,550
Kia’s Rio subcompact sedan won’t overwhelm you with power or luxury. But it’s known for being relatively well handling for the price. And it has a feature almost any used car at this price level will not have: wireless Apple Carplay and Android Auto.
- Horsepower: 120
- Torque: 112 lb-ft
- EPA Fuel Economy: 33 mpg city, 41 mpg highway
- Starting Price: $16,550
Hyundai Venue — $19,000
Hyundai technically calls the Venue a subcompact SUV. Though we disqualified it from our list since it offers little in the way of utility. Hyundai no longer offers the swanky two-tone Denim Edition as a standalone trim. But you can get the Denim paint option as a no-cost option.
- Horsepower: 120
- Torque: 113 lb-ft
- EPA Fuel Economy: 29 mpg city, 33 mpg highway
- Starting Price: $19,000
Kia Forte – $19,490
The Forte is Kia’s compact sedan that slots above the Rio. It bears some resemblance to the Stinger on the style front. And for a bit more oomph, you can level up to a 201-hp GT version.
- Horsepower: 147
- Torque: 132 lb-ft
- EPA Fuel Economy: 30 mpg city, 41 mpg highway
- Starting Price: $19,490
Kia Soul – $19,790
The Soul is Kia’s boxy small car known for its distinctive style. They technically call it a sub-compact crossover, though you can’t get one with all-wheel-drive. Kia facelifted it for 2023.
- Horsepower: 147
- Torque: 132 lb-ft
- EPA Fuel Economy: 28 mpg city, 33 mpg highway
- Starting Price: $19,790
Subaru Impreza
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.
- Horsepower: 152
- Torque: 145 lb-ft
- EPA Fuel Economy: 28 mpg city, 36 mpg highway
- Starting Price: $19,795
Nissan Sentra
The Sentra is Nissan’s compact sedan that slots above the Versa. It was a North American Car of the Year finalist in 2020. It’s handsome. You can get Nissan’s comfy Zero Gravity seats. And that goes a long way for $20,000.
- Horsepower: 149
- Torque: 146 lb-ft
- EPA Fuel Economy: 29 mpg city, 39 mpg highway
- Starting Price: $19,950
Volkswagen Jetta
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.
- Horsepower: 158
- Torque: 184 lb-ft
- EPA Fuel Economy: 29 mpg city, 42 mpg highway
- Starting Price: $20,415
Hyundai Elantra
The Elantra is Hyundai’s compact sedan. And it’s the car that beat the Nissan Sentra to take home the North American Car of the Year award in 2021. The base sedan offers excellent value. And you can also get it in hybrid or raucous N performance sedan form.
- Horsepower: 147
- Torque: 132 lb-ft
- EPA Fuel Economy: 33 mpg city, 42 mpg highway
- Starting Price: $20,500
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Keyword: The 10 Cheapest New Cars You Can Buy