With inflation, most things are more expensive these days, including cars. And one of the most expensive types of cars is an SUV. However, there are still some affordable SUVs that you can buy, particularly for the subcompact crossover SUV segment. For the cheapest ones, though, there are only two new 2023 SUVs that cost under $20,000. They are both from South Korean automakers: the 2023 Hyundai Venue and the 2023 Kia Soul.
2023 Hyundai Venue is the cheapest new SUV available
South Korean automaker Hyundai is the parent company of Kia, and it offers the most affordable SUV. With a starting price of $19,500 MSRP, the 2023 Hyundai Venue subcompact is the cheapest new 2023 SUV available in the United States. Despite its low price, the Venue is not a low-quality vehicle. It provides agile handling, has a user-friendly infotainment system, and offers many standard safety and driving assistance features.
The Venue is also efficient, with an estimated gas mileage of up to 31 combined mpg. Another thing adding to the affordability of the Venue is its generous warranty coverage, with the backing of a 5-year/60,000-mile basic warranty and a 10-year/100,000-mile powertrain warranty. Also, the Venue has a free maintenance plan, with three years or 36,000 miles of coverage. A drawback of the Venue, though, is it doesn’t offer an all-wheel drive system.
2023 Kia Soul is an affordable SUV priced under $20,000
The other new 2023 SUV from South Korea that costs less than $20,000 is the 2023 Kia Soul subcompact, which starts at $19,790 MSRP. The Soul is a great choice for budget-minded SUV shoppers that want a unique vehicle — with its distinctive boxy shape. Other attributes of the Soul include its spacious interior, good driving dynamics, a user-friendly touchscreen, and an abundance of standard features. However, like the Venue, the Soul doesn’t offer all-wheel drive.
On the efficiency front, the Soul gets an estimated fuel economy of up to 31 combined mpg. The Soul also has warranty coverage that’s similar to the Venue, with a 5-year/60,000-mile basic warranty and a 10-year/100,000-mile powertrain warranty. However, it doesn’t offer a complimentary maintenance plan.
Most affordable SUVs to buy in 2023
Following the Hyundai Venue and Kia Soul, the next cheapest new 2023 SUV is the 2023 Nissan Kicks subcompact ($20,290 MSRP). Here are the most affordable SUVs to buy in 2023, along with their starting prices. Also, for a few of the SUVs, the official 2023 price information is not yet available, so for these models, we listed the starting price of the 2022 versions.
- 2023 Hyundai Venue: $19,500 MSRP
- 2023 Kia Soul: $19,790 MSRP
- 2023 Nissan Kicks: $20,290 MSRP
- 2023 Chevy Trax: TBD (Starting price of 2022 Trax: $21,700 MSRP)
- 2023 Mitsubishi Outlander Sport: TBD (Starting price of 2022 Outlander Sport: $21,795 MSRP)
- 2023 Hyundai Kona: $21,990 MSRP
- 2023 Chevrolet Trailblazer: $22,100 MSRP
- 2023 Toyota Corolla Cross: TBD (Starting price of 2022 Corolla Cross: $22,445 MSRP)
- 2023 Kia Seltos: $22,840 MSRP
- 2023 Mazda CX-30: $22,950 MSRP
- 2023 Subaru Crosstrek: $23,645 MSRP
- 2023 Honda HR-V: $23,650 MSRP
As you can see, there are many affordable SUVs priced under $25,000. However, if you’re looking for a new 2023 SUV that costs under $20,000, then your only two options are from South Korea: the 2023 Hyundai Venue and the 2023 Kia Soul.
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