Looking at the auto industry these days, it’s easy to see that things have become a lot pricier. Some of the most popular models are also among the most expensive. It has become harder to find great cars at a low price, particularly if you’re interested in the reliability and peace of mind that comes with a new vehicle. Several years ago, the Chevy Spark was proudly offered as the least expensive and most accessible vehicle on the market, but its time came to an end. Now, someone interested in a Nissan Versa for sale is likely eyeing one because it has the lowest price tag in the industry. But the Versa isn’t the only vehicle out there that can be had with a starting price below $20,000. Let’s look at four models you can get without breaking the bank.
2024 Nissan Versa
At the top of our list as the least expensive vehicle you can buy as new right now is the Nissan Versa, which has taken the mantle from previous models like the aforementioned Spark and the Mitsubishi Mirage, which also had the title briefly. The Versa is a subcompact model (you’re not going to find any full-size vehicles on this list) that still gives you plenty of features and options to enjoy. It’s powered by a 1.6L I-4 engine that offers 122 hp and 114 lb-ft of torque with front-wheel drive (FWD). A five-speed manual transmission is standard on the Versa, but you can pay a little more for Nissan’s Xtronic continuously variable transmission (CVT) if you’re not one for a manual.
Not only is the Versa low in price upfront, but it also gets an estimated 27 MPG in the city and 35 MPG on the highway to help keep your costs low in the long term. A CVT model does even better, with 32 MPG in the city and 40 MPG on the highway. There’s room for five inside on standard cloth seating, and you get a four-speaker sound system. You can go up to a higher trim like the SV or SR to get premium cloth seating, a seven-inch multifunction information display in the instrument cluster, and even a six-speaker sound system in the SR. This budget-friendly beauty starts at just $16,680 MSRP for the basic S trim. Even the highest SR trim comes in at $20,690 MSRP.
2024 Mitsubishi Mirage
Just behind, and I mean just behind, the Versa is our second pick for the least-expensive new vehicle out there right now: the Mitsubishi Mirage. This car used to be second place to the Chevy Spark, but when Chevy discontinued the Spark it took over that position. A slight price increase since then has shifted things slightly, and it’s once again at number two, but only by $15, so it’s pretty close to a tie. The Mirage comes with a 1.2L engine offering 78 hp and 74 lb-ft of torque, which is definitely light-duty even for a compact hatchback like this. It’s the weakest engine on this list and one of the few flaws in how Mitsubishi has designed the Mirage.
The Versa comes with a CVT standard, which is nice, and gets an estimated 36 MPG in the city and 43 MPG on the highway, so it’s a very value-conscious vehicle. Standard interior features include a six-way adjustable driver’s seat, a four-speaker sound system, and a seven-inch infotainment display with support for Apple CarPlay and Android Auto. Looking at higher trims, the SE costs about $2,000 more but includes a FAST-Key entry system with push-button start, steering wheel controls, and heated front seats with fabric and synthetic leather seating. Considering that the Mirage starts at $16,695 MSRP and higher trims can add a lot while still staying under $20,000, it’s an impressive overall option. Act now while supplies last. Mitsubishi will be discontinuing the Mirage after the 2024 model year.
2024 Hyundai Venue
Our first of two models that come right up to that $20,000 price point without going over, the 2024 Hyundai Venue jumps a bit in price compared to the Versa and Mirage. Where the other vehicles we’re looking at are small cars, the Venue is a compact SUV, which means you get some excellent functionality and a well-designed interior to take advantage of while sticking to a budget. The Venue is powered by a 1.6L I-4 engine that provides 121 hp and 113 lb-ft of torque, giving you a better overall experience than some of the smaller models, with a CVT and FWD.
To keep costs down long-term, the 2024 Venue gets an estimated 29 MPG in the city and 33 MPG on the highway, which isn’t quite as efficient as the previous two models, but it’s an SUV with more room inside. Cloth seating is standard in the Venue, with room for five people to be quite comfortable. Plus, it comes with an eight-inch infotainment display and a 4.2-inch gauge display for you to enjoy. Higher trim levels add features like heated front seats, a leather-wrapped steering wheel, and a wireless charging pad, but also push the price up quite a bit. The standard Hyundai Venue starts at $19,900 MSRP for 2024, which makes it one of the most accessible SUVs out there.
2024 Kia Forte
The last model we’re looking at is the Kia Forte, the last car with a starting price under $20,000. This is another compact sedan with a lot to offer, and the great initial price is only a part of that. The Forte has a standard 2.0L I-4 engine that offers 147 hp and 132 lb-ft of torque, making it the most powerful car on this list. It comes with an Intelligent Variable Transmission (IVT) and FWD, with an estimated 30 MPG in the city and 41 MPG on the highway. Notably, there’s a Forte GT model available with an impressive turbocharged 1.6L engine that delivers 201 hp and 195 lb-ft of torque with a six-speed manual transmission available, though this pushes the price up to around $25,000.
Standard features on the Kia Forte include remote keyless entry, air conditioning, and a six-way driver’s seat. Woven cloth seating is standard, with an eight-inch infotainment display and a 4.2-inch instrument display. We also find a four-speaker sound system and support for Apple CarPlay and Android Auto. Looking at higher trims, upgraded features like dual-zone automatic climate control, heated and ventilated front seats, SynTex and cloth seating, and a leather-wrapped steering wheel become available. You can even get a 10.25-inch infotainment display with an eight-speaker Harman Kardon premium sound system, but that’ll put you well past the Forte’s starting $19,990 MSRP.
Low-Priced Cars Seem to Be a Dying Breed
These are the only four options for someone looking for a new vehicle and a budget of $20,000. To be fair, a few more could be considered if someone has a bit of wiggle room in that budget. The Kia Soul, for example, starts at $20,190 MSRP, while the Chevy Trax is close with a $20,400 MSRP. There are even more options once the budget goes up to the $21,000 range, but at that point, you’ve moved pretty far past where we started with the Versa.
The point is that things are rough for someone who wants a vehicle and needs to keep their costs low, which is why used vehicles are so popular. Of course, since the pandemic and the aftermath of the chip shortage in the auto industry, used vehicles can still be more expensive than they were five years ago. They say that being poor is expensive, and it’s hard to argue with that when you look at what’s available to someone who needs a vehicle but wants to stick to a tight budget. Fortunately, some companies still offer low-end models at a fairly accessible price, but it would be nice if I could list even five vehicles under $20,000. Hopefully, a list like this will still be possible in another five years, but only car companies know what those price tags will look like.
