If you are in the market for the cheapest new car, there are plenty of options in 2020.
However, you might not get what you are hoping for with one of these low-cost car models, though some will offer surprising value.
Let’s look at the ten cheapest new cars and show you some of the Pros and Cons of each one.
How the Cheapest New Car List Was Made
We’ve ordered the low-priced car models by the base MSRP with automatic transmission if there’s an option for a manual. These prices do include the destination charge, but don’t take into account the cash incentives a dealership might offer.
10 Cheapest New Car Models in 2020
We will take a closer look at these ten models.
- Chevrolet Spark LS ($15,195)
- Mitsubishi Mirage ES ($16,435)
- Kia Rio LX ($16,815)
- Nissan Versa S ($17,325)
- Hyundai Accent SE ($17,350)
- Mitsubishi Mirage G4 ES ($17,435)
- Chevrolet Sonic LS ($17,595)
- Toyota Yaris Sedan L ($17,705)
- Honda Fit LX ($17,945)
- Toyota Yaris Hatchback LE ($18,705)
1. 2020 Chevrolet Spark LS ($15,195)
The cheapest new car you can purchase is this base model of the Chevy Spark. Even though the four-passenger subcompact hatchback is cheap, you still get a 4G LTE Wi-Fi hot spot, Bluetooth, Android Auto, and Apple CarPlay. However, the backseat is quite tight and not meant for adults. Plus, the four-cylinder engine isn’t ideal for highway travel.
2. 2020 Mitsubishi Mirage ES ($16,435)
While this Mirage is also a subcompact hatchback, there is room for five. However, you are facing another underpowered engine with the 1.2-liter three-cylinder. Additionally, the cabin is cheaply made and doesn’t feature many perks.
3. 2020 Kia Rio LX ($16,815)
The 2020 Rio model received some updates to the connectivity and fuel efficiency. Of the top three choices, this one offers more standard features and additional styling features that make it one of the best choices.
4. 2020 Nissan Versa S ($17,325)
The Versa has also been redesigned, including more driver-assist and safety features. However, the automatic transmission makes the price jump a little. Still, if you want plenty of advanced features at a bargain price, this might be the best option.
5. 2020 Hyundai Accent SE ($17,350)
The smallest car from Hyundai is comparable to the Rio. Sadly, the base model doesn’t come with a lot of features. If you want Apple CarPlay, Android Auto, and other tech amenities, you will need to upgrade to a higher trim level, which also costs more.
6. 2020 Mitsubishi Mirage G4 ES ($17,435)
We’ve already looked at the subcompact hatchback version, but the Mirage sedan also makes our cheap car list. It does get reduced fuel economy but is powered by the same dull engine. However, the base model does come with automatic climate control, a seven-inch touch screen, and Bluetooth.
7. 2020 Chevrolet Sonic LS ($17,595)
The Sonic is Chevy’s other subcompact model. There is room to hold five in this car instead of four. It also comes with a variety of standard features, including a seven-inch touch screen, Android Auto, Apple CarPlay, Bluetooth, a 4G LTE Wi-Fi hot spot, and a folding backseat.
8. 2020 Toyota Yaris Sedan L ($17,705)
This vehicle is based on the previous Mazda2. It has an optional six-speed automatic transmission and comes with plenty of standard technology. There is also a list of safety features that many cheap vehicles don’t offer.
9. 2020 Honda Fit LX ($17,945)
Everyone loves the second-row seat that creates this versatile hatchback. However, not everyone is a fan of the 1.5-liter four-cylinder, which seems a little underpowered. Still, standard features include power windows, power locks, air conditioning, Bluetooth, and cruise control.
10. 2020 Toyota Yaris Hatchback LE ($18,705)
Rounding out our cheapest new car list is the Yaris hatchback model. It is back after skipping over a model year and comes powered by a 1.5-liter four-cylinder that outputs 106 horsepower. It also comes with Apple CarPlay, Android Auto, a folding backseat, and push-button start.
Should You Buy the Cheapest New Car?
This truly depends on your situation. As you can see from the list, many of the cheap new cars in 2020 are under-powered and don’t offer a lot of features. They also don’t have a lot of space. However, if you are simply looking for urban transportation and are concerned about fuel economy, these might be your best options.
With new car prices up 2%, it’s wise to do whatever you can to save money. However, you don’t want to sacrifice any needs to save money. You can skip some of the pointless new car trends, but don’t give up your safety or comfort in exchange for cash.
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