What’s The Cheapest Brand New Car You Can Buy? A Comprehensive Guide

What’s The Cheapest Brand New Car You Can Buy? A Comprehensive Guide cars.truckstrend.com

In an era where vehicle prices seem to constantly climb, the quest for an affordable, brand new car is more relevant than ever. For many, a new car represents peace of mind, reliability, and the latest safety features without the uncertainties of a used vehicle. But what exactly constitutes the "cheapest" brand new car, and how does one navigate the market to find the best value for their money? This comprehensive guide will delve into the current landscape of entry-level vehicles, offering insights, practical advice, and a clear understanding of what to expect when shopping for the most budget-friendly ride.

Understanding "Cheapest": Beyond the Sticker Price

What’s The Cheapest Brand New Car You Can Buy? A Comprehensive Guide

When we talk about the "cheapest" brand new car, it’s crucial to look beyond just the Manufacturer’s Suggested Retail Price (MSRP). While the initial purchase price is a significant factor, true affordability encompasses a range of long-term ownership costs. A car might have a low sticker price but could prove expensive over time due to poor fuel economy, high insurance rates, or frequent maintenance needs.

Here are the key components that define a car’s true "cheapness":

• Initial Purchase Price (MSRP): This is the headline figure – the lowest price point for the base model before options, taxes, and fees.
• Fuel Efficiency (MPG): A car with excellent fuel economy will save you hundreds, if not thousands, of dollars over its lifespan, especially with fluctuating gas prices.
• Insurance Costs: Premiums vary widely based on the vehicle’s make, model, safety features, repair costs, and even the driver’s profile. Simpler, less powerful cars often have lower insurance rates.
• Maintenance and Repairs: Reliability is paramount. A car that rarely breaks down and has readily available, inexpensive parts will be cheaper to own in the long run. Look into standard maintenance schedules and typical service costs.
• Depreciation: While all new cars depreciate, some hold their value better than others. A car that retains more of its value will cost you less in lost equity if you decide to sell it down the line.



• Registration, Taxes, and Fees: These upfront and annual costs vary by state and local regulations but are an unavoidable part of car ownership.

Considering all these factors provides a holistic view of a vehicle’s affordability, helping you make a truly cost-effective decision.

The Contenders: Top Cheapest Brand New Cars in [Current Year]

The landscape of affordable new cars shifts slightly year to year due to new models, discontinuations, and price adjustments. As of late 2023/early 2024, the market for truly low-cost new vehicles has shrunk somewhat, but a few strong contenders remain. These cars typically prioritize basic transportation, fuel efficiency, and essential features over luxury or high performance.

Here are some of the leading options for the cheapest brand new cars you can buy:

1. Mitsubishi Mirage (Hatchback) / Mirage G4 (Sedan)

• Starting MSRP: Around $16,695 (Mirage Hatchback) / $17,795 (Mirage G4 Sedan)
• Overview: The Mitsubishi Mirage consistently holds the title of the cheapest new car in the U.S. market. Available as a compact hatchback or a slightly larger G4 sedan, it’s designed for urban commuting and budget-conscious buyers. It’s known for its incredibly high fuel economy and an impressive 10-year/100,000-mile powertrain warranty.
• Key Features: Powered by a tiny 1.2-liter three-cylinder engine (78 horsepower), it’s not fast but sips fuel. Standard features often include a 7.0-inch touchscreen with Apple CarPlay and Android Auto, automatic climate control, and basic safety features like a rearview camera.
• Pros: Unbeatable price, excellent fuel economy (up to 39 MPG combined), long warranty, nimble for city driving.
• Cons: Very slow acceleration, noisy engine, basic interior materials, limited cargo space in hatchback.

2. Nissan Versa

• Starting MSRP: Around $16,130
• Overview: The Nissan Versa often vies for the top spot with the Mirage, especially for those who prefer a traditional sedan. It offers a surprisingly refined ride and a more spacious interior than its price point suggests, making it a popular choice for budget-minded buyers.
• Key Features: It comes with a 1.6-liter four-cylinder engine (122 horsepower), offering more pep than the Mirage. Standard features include a 7.0-inch touchscreen, automatic emergency braking, and often automatic headlights. Higher trims add features like adaptive cruise control and blind-spot monitoring.
• Pros: Comfortable ride, good fuel economy (up to 35 MPG combined), spacious cabin for its class, respectable standard safety features.
• Cons: Engine can be noisy under hard acceleration, basic interior design, CVT transmission can feel uninspired.

3. Hyundai Venue

• Starting MSRP: Around $19,950
• Overview: The Hyundai Venue is one of the most affordable SUVs/crossovers on the market, appealing to those who desire a higher driving position and a bit more rugged styling. It’s compact, making it excellent for city driving, and comes with Hyundai’s strong warranty.
• Key Features: Equipped with a 1.6-liter four-cylinder engine (121 horsepower), it offers adequate performance for urban settings. Standard features are generous for its price, including an 8.0-inch touchscreen with Apple CarPlay/Android Auto, automatic emergency braking, lane-keeping assist, and automatic high beams.
• Pros: SUV-like styling, excellent standard technology and safety features, strong warranty (5-year/60k mile basic, 10-year/100k mile powertrain), good fuel economy (up to 31 MPG combined).
• Cons: No AWD option, small cargo area, engine can feel underpowered on highways, a bit pricier than the absolute cheapest sedans/hatchbacks.

4. Kia Forte

• Starting MSRP: Around $20,000
• Overview: The Kia Forte often sneaks into the "cheapest" list by offering a compact sedan experience with a strong value proposition. It’s slightly larger and more powerful than the Versa or Mirage, offering a more traditional compact car feel.
• Key Features: The base model features a 2.0-liter four-cylinder engine (147 horsepower). Standard tech includes an 8.0-inch touchscreen, Apple CarPlay, Android Auto, and a suite of driver-assist features like forward collision-avoidance assist.
• Pros: Roomy interior, good standard features, competitive fuel economy (up to 34 MPG combined), long warranty (matching Hyundai).
• Cons: Base engine can be loud, interior materials are utilitarian, not as refined as some competitors.

How to Find the Best Deal on a Cheap New Car

Even with low-priced cars, there’s still room to save. Finding the best deal involves research, timing, and negotiation.

1. Online Research is Key: Start by visiting manufacturer websites to see current incentives, special financing rates, and available inventory. Use reputable automotive sites like Kelley Blue Book (KBB.com), Edmunds, and CarGurus to compare prices from multiple dealerships in your area.
2. Understand Trim Levels: The cheapest car is almost always the base model. Avoid adding unnecessary packages or features that drive up the price. Focus on what you truly need for basic, reliable transportation.
3. Negotiate Smartly: Don’t be afraid to negotiate, even on an already inexpensive car. Research the invoice price (what the dealer paid for the car) to have a benchmark. Be prepared to walk away if the deal isn’t right.
4. Time Your Purchase:
   • End of the Month/Quarter/Year: Salespeople and dealerships often have quotas to meet, making them more flexible on pricing as deadlines approach.
   • New Model Year Releases: When new models arrive, dealerships are eager to clear out last year’s inventory, often offering significant discounts.
   • Holidays: Major holidays (Labor Day, Black Friday, President’s Day) often come with special sales events.
5. Consider Financing Options: Get pre-approved for a loan from your bank or credit union before visiting a dealership. This gives you leverage and a benchmark for comparison against dealer financing offers.
6. Assess Your Trade-in (If Applicable): Get your current car appraised by multiple sources (dealerships, online tools like KBB Instant Cash Offer) before you buy. This ensures you’re getting a fair price and helps you separate the trade-in negotiation from the new car purchase.

Important Considerations When Buying a Budget Car

Purchasing a brand new, inexpensive car means making certain compromises, but it doesn’t mean sacrificing safety or core reliability.

• Safety Features: While base models won’t have every advanced driver-assist system, ensure they include essential safety features like multiple airbags, anti-lock brakes (ABS), stability control, and a rearview camera. Many budget cars now offer automatic emergency braking as standard.
• Reliability and Warranty: This is where budget brands often shine. Manufacturers like Mitsubishi, Hyundai, and Kia offer exceptional warranties (e.g., 5-year/60,000-mile basic and 10-year/100,000-mile powertrain), providing long-term peace of mind. Check consumer reliability ratings from sources like J.D. Power and Consumer Reports.
• Practicality and Comfort: Test drive the car thoroughly. Is there enough space for your daily needs? Is the seating comfortable for your commute? While luxury isn’t expected, basic comfort and usability are crucial.
• Resale Value: While a primary goal is low initial cost, consider how well the car holds its value. Generally, cheaper cars depreciate faster in percentage terms, but strong reliability and brand reputation can help.
• Long-term Ownership Costs: Reiterate the importance of fuel economy and predicted maintenance costs. A few extra dollars upfront for a slightly more efficient or reliable model can save you much more down the road.

Alternatives to a Brand New Budget Car

If even the cheapest new car is beyond your budget, or if you’re seeking different priorities, consider these alternatives:

• Used Cars: The biggest savings are found here. A 3-5 year old car will have already taken its biggest depreciation hit. However, you trade lower cost for higher potential repair risks.
• Certified Pre-Owned (CPO) Vehicles: This is a middle ground. CPO cars are used vehicles that have undergone rigorous inspections and come with an extended manufacturer warranty, offering more peace of mind than a standard used car, albeit at a slightly higher price.
• Leasing: For those who prefer lower monthly payments and enjoy driving a new car every few years without the commitment of ownership, leasing can be an option. However, you don’t build equity, and mileage restrictions apply.
• Public Transportation/Ride-Sharing: If car ownership isn’t a strict necessity for your lifestyle, these options can be far more cost-effective.

Price Table: What’s The Cheapest Brand New Car You Can Buy

Car Model	Starting MSRP (approx.)	Engine Type	Horsepower (HP)	Fuel Economy (City/Hwy MPG)	Basic Warranty	Powertrain Warranty	Key Standard Features (Base Trim)
Mitsubishi Mirage	$16,695	1.2L 3-Cylinder	78	36/43	5-year/60,000 miles	10-year/100,000 miles	7" Touchscreen, Apple CarPlay/Android Auto, Automatic Climate Control, Rearview Camera
Nissan Versa	$16,130	1.6L 4-Cylinder	122	32/40	3-year/36,000 miles	5-year/60,000 miles	7" Touchscreen, Automatic Emergency Braking, Automatic Headlights, Power Windows
Hyundai Venue	$19,950	1.6L 4-Cylinder	121	29/33	5-year/60,000 miles	10-year/100,000 miles	8" Touchscreen, Apple CarPlay/Android Auto, Forward Collision-Avoidance Assist, Lane Keeping Assist
Kia Forte	$20,000	2.0L 4-Cylinder	147	29/39	5-year/60,000 miles	10-year/100,000 miles	8" Touchscreen, Apple CarPlay/Android Auto, Forward Collision-Avoidance Assist, Lane Following Assist

Note: MSRPs are for the base model and exclude destination charges, taxes, title, and other fees. Fuel economy figures are EPA estimates and can vary.

Frequently Asked Questions (FAQ)

Q: Are cheap new cars safe?
A: Yes, all new cars sold in the U.S. must meet stringent safety standards set by the National Highway Traffic Safety Administration (NHTSA). While they may not have all the advanced driver-assist features of more expensive cars, they come standard with airbags, anti-lock brakes, and stability control. Many now include basic collision avoidance systems.

Q: Do cheap cars have good fuel economy?
A: Generally, yes. Many inexpensive new cars are designed with efficiency in mind, using smaller engines and lighter body designs to maximize MPG. This is a key factor in their overall low cost of ownership.

Q: Will a cheap new car last a long time?
A: With proper maintenance, absolutely. Modern vehicles, even budget-friendly ones, are built to be reliable. Brands like Mitsubishi, Hyundai, and Kia offer excellent long-term warranties (up to 10 years/100,000 miles on the powertrain), demonstrating their confidence in the vehicle’s longevity.

Q: Can I get financing for a cheap new car?
A: Yes, financing is readily available for inexpensive new cars, just like any other vehicle. Interest rates will depend on your credit score, the loan term, and current market conditions. Many manufacturers offer special financing incentives on their entry-level models.

Q: What’s the difference between a cheap new car and a cheap used car?
A: A cheap new car offers the peace of mind of a full factory warranty, the latest safety features, no prior owner history, and often better financing rates. A cheap used car will have a lower upfront cost but comes with potential unknown maintenance issues, a shorter (or no) warranty, and potentially higher interest rates on a loan.

Conclusion

Finding the cheapest brand new car is about much more than just the lowest number on the price tag. It’s about intelligently assessing the overall cost of ownership, including fuel, insurance, and maintenance, over the vehicle’s lifespan. While the options for truly budget-friendly new cars have narrowed, excellent choices like the Mitsubishi Mirage, Nissan Versa, and Hyundai Venue continue to offer reliable, efficient, and surprisingly well-equipped transportation for a minimal initial investment.

By understanding what drives true value, conducting thorough research, and employing smart negotiation tactics, you can confidently drive off the lot in a brand new car that perfectly balances affordability with your practical needs. It’s about making a wise investment in your daily mobility without breaking the bank, ensuring you get the most out of every hard-earned dollar.