Most of us need a car and are looking to save a few dollars at the same time, which is why the entry-level automotive sector is so competitive. Car makers fight to deliver reliable vehicles at prices that turn heads. They’ve been successful for a long time too. You can park a new vehicle in your driveway for under $20,000, if you know what to look for.
We wouldn’t recommend rushing out to buy the cheapest vehicle you can find. It’s an important decision that factors in more than just price. You should never commit to buying a car before you see it in person and drive it yourself. Still, it doesn’t hurt to know who is selling the cheapest cars and SUVs this year. Let’s go!
5 Cheapest Cars in 2023
The SUV market is always growing, but Americans love cars too. Below you’ll find a list of the industry’s least expensive options for this year.
2023 Subaru Impreza
The Impreza is the priciest car on our list, and benefits from more premium-tiered features like standard all-wheel drive and advanced driver safety features. What it lacks in power it makes up for in handling, with responsive steering and firm brakes. For those that need it, the Impreza is one of the most affordable all-wheel drive vehicle options available.
2023 Kia Forte
The Forte delivers a quiet, comfortable, and feature-rich alternative to its much more costly competitors. Kia’s compact sedan offers great fuel economy too, capable of an estimated 35 mpg combined. The Forte includes more tech than you might expect, with standard forward collision mitigation, a touchscreen infotainment system, and a great menu of upgrade options.
2023 Kia Rio
Kia didn’t make many changes to the Rio for 2023 and we aren’t mad about it. The vehicle still delivers impressive value for the list price. It comes standard with a 1.6-liter inline-four engine capable of 120 HP and an estimated 41 mpg on the highway. An 8-inch touchscreen infotainment system and a limited 60,000 mile warranty come standard too.
2023 Mitsubishi Mirage
A small subcompact commuter that boasts one of the cheapest prices in the country, the 2023 Mitsubishi Mirage isn’t going to wow you with on-board tech or luxury materials. However, it is capable of delivering an estimated 40 mpg, comes with a touchscreen infotainment system, and a backup camera.
2023 Nissan Versa
Great fuel economy, a serviceable selection of standard tech and safety features, and a surprisingly spacious interior only add to the appeal of the 2023 Nissan Versa. In addition to the excellent price, expect great fuel economy, fun handling, and a capable four-cylinder engine.
5 Cheapest SUVs in 2023
Some car buyers just can’t function without the extra storage space and seating capacity of an SUV. This section is for those people! Below, find a list of the cheapest SUVs available at dealerships across the country.
2023 Hyundai Kona
It’s easy to spend too much time talking about specs and features and forget the value of a vehicle that’s flat out fun to drive. Thankfully the 2023 Kona is as fun as it is practical. The standard engine is capable of 147 HP, with the option to upgrade to a more powerful powertrain. It’s a small, fuel efficient SUV capable of an estimated 35 mpg on the highway.
2023 Chevrolet Trailblazer
Don’t look now, but Chevrolet is making real headway in the compact-SUV segment. The 2023 Trailblazer is roomy, affordable, and loaded with the latest technology. It’s easy to find space for extra cargo, and the upgraded trims create a lot of customization options.
2023 Nissan Kicks
It’s small for the class, but the Nissan Kicks sure is practical. The SUV is storage friendly, even more so when the seats fold down. The Kicks is great on gas as well. All three trim packages are equipped with the same 122 HP engine, though there are options to upgrade the driver assist and infotainment offerings.
2023 Hyundai Venue
Hyundai may have missed out on the cheapest car awards but the company is well represented in this sector. One of two Hyundai SUV’s on today’s list, the 2023 Venue is smaller than many of its competitors, but it’s made to fit a specific lifestyle. The 121 HP engine is more than powerful enough for city driving. The spacious cabin and numerous standard tech offerings create a lot of value here too.
2023 Kia Soul
The base trim of the 2023 Kia Soul is loaded with standard safety features, remote keyless entry, and an easy to navigate 8-inch touchscreen. Its roomy interior is complemented by modern finishings and an ultra-sleek exterior. The result is a practical and punchy SUV at a price you’ll want to brag about.
Surprised how affordable a new car can be? We thought you might be. The automotive industry has come a long way, and so have the prices. These days it’s not uncommon to see Nisan, Mitsubishi, Hyundai, Kia, and Volkswagen dealerships with lines of cars selling for under $20k. There are even more ways to save on a new car too.
Car buyers can shave hundreds off the asking price by negotiating a better price or by paying more up front.11 Maintaining brand flexibility and waiting patiently for the right deal can make a big difference too. The more you learn about cars and their corresponding prices, the more confident you will be when shopping for them. So, keep carving time out of your day to read, research, and ask questions.