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It’s no secret that the average price for new cars has soared to astronomical heights in the past year. According to Car and Driver, the average cost of a new car last summer was $40,000, but that number jumped to a wallet-busting $47,000 by the end of 2021. Of course, nationwide inventory shortages and dealer market adjustments didn’t help, but the good news is that there are still cheap new cars to be had. If you can manage to only pay the sticker price for these following seven cars, your bank account will breathe a huge sigh of relief.

The Kia Soul is an affordable box on wheels – $20,505

A red 2022 Kia Soul driving down the road.
2022 Kia Soul | Kia

The 2022 Kia Soul may be a box on wheels, but that square shape equates to more interior room. Despite its compact size, the Soul has plenty of room for up to five adults with headroom to spare in addition to a wealth of cargo space. Under its hood is a 147-hp, four-cylinder engine that’s mated to a CVT and can achieve up to an EPA-estimated 27 mpg in mixed driving conditions. Best of all, this generous amount of space and efficiency comes with a small price tag.

The Kia Forte is a mileage champion – $20,115

A gray 2022 Kia Forte GT on a canyon road
2022 Kia Forte GT | Kia

Want a compact sedan that requires fewer trips to the gas station? If so, the 2022 Kia Forte is a great choice. The Forte not only boasts ample room for up to five adults, but it can also achieve up to an EPA-estimated 41 mpg on the highway, which can come in handy for those long road trips and daily commutes alike.

The Subaru Impreza offers all-wheel-drive capability – $19,790

2022 Subaru Impreza in hatchback form.
2022 Subaru Impreza in hatchback form. | Subaru

The 2022 Subaru Impreza is the most affordable all-wheel drive sedan on the market today. For that sub-$20,000 price tag, you not only benefit from its unrivaled capability, but you also get a 152-hp flat-four engine that still comes with a manual transmission. It only has five gears, as opposed to six, but we’ll forgive Subaru for that.

The Hyundai Accent is more than just a rental car – $17,690

Red 2022 Hyundai Accent Posed
2022 Hyundai Accent | Hyundai

We admit, we’ve probably seen more Hyundai Accents in a rental fleet than we have on the public roads, but that doesn’t make it any less of a car. That Accent can manage up to an EPA-estimated 39 mpg out of its 120-hp engine and it is also backed by one of the best warranties in the business. That 10-year/100,000-mile powertrain warranty alone ensures that you won’t be needing a rental car anytime soon – as ironic as that sounds.

The Nissan Versa is one of the most affordable compact sedans – $16,205

2022 Nissan Versa
2022 Nissan Versa | Nissan

The Nissan Versa is a well-equipped compact sedan that comes with a host of standard safety features, an easy-to-live-with interior, and good fuel efficiency. Its 122-hp engine comes standard with a manual transmission that’s good for an EPA-estimated 35 mpg on the highway, however, if you opt for the CVT, then that number jumps to 40. Either way, the Versa presents an excellent value proposition given its really low price tag.

The Mitsubishi Mirage is almost the cheapest new car you can buy – $16,125

Consumer Reports gave the Mitsubishi Mirage a low score
2020 Mitsubishi Mirage | Mitsubishi Motors

If you need a set of wheels that can get you to where you need to go without being in too much of a hurry, then the 2022 Mitsubishi Mirage has you covered. The Mirage is almost the cheapest car on this list, but that’s not its only claim to fame. Under its hood is a 78-hp, three-cylinder engine that can make the car go from 0-60 mph in a laggardly 12.8-seconds, according to Car and Driver’s testing. In that case, the Mirage is also the slowest car on this list.

The Chevrolet Spark is still the cheapest car you can buy (for now) – $14,595

2022 Chevy Spark in blue
2022 Chevy Spark | Chevrolet

If you’re looking for the cheapest new car that you can buy, the 2022 Chevrolet Spark is it – for now. The Spark is going away for 2023, but you can still take advantage of everything it has to offer. Its best attributes include a 98-hp engine that can garner up to an EPA-estimated 38 mpg on the highway and a nine-gallon gas tank that is cheap to fill up. Don’t expect too much else in the way of advanced safety features, though, as you’ll have pay more than $14,595 price of entry for those.

The cheapest new cars in 2022

These are the cheapest new cars that you can currently buy in 2022. And while they all bring their own unique attributes to the table, it’s safe to say that you can’t really go wrong by picking any of them – especially if fuel efficiency and cost savings is what you seek.


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