Skip to main content

If you want to buy an affordable, reliable new car that will hold its value, then check out this list of the least expensive cars of 2020. Even though these vehicles have the lowest entrance prices on the market, another factor to consider is the cost-to-own figure.

Kelly Blue Book calculates a car’s five-year cost of ownership by looking at how much the car depreciates within five years, plus six out-of-pocket expenses: finance costs, state fees, fuel, insurance, repairs, and maintenance

The cheapest new car, the 2020 Chevrolet Spark, starts at around $14,000. If it’s well-maintained and doesn’t have repairs due to accidents, the low fuel consumption of this subcompact makes it a budget-friendly car for younger drivers. Here we compare the cheapest new car models of 2020.

The cheapest models of 2020

2020 Nissan Versa

This subcompact, four-door sedan starts at $14,730. With 40 MPG highway and 32 MPG city, you’ll be able to stretch your fuel. The Nissan Versa comes standard with smartphone integration and the ability to customize gauges and interior temperatures. Standard safety features include lane departure, blind-spot warnings, and automatic braking.

2019 Honda Fit

Toyko will reveal the new 2020 Honda Fit soon. In the meantime, Edmunds gives the 2019 Honda Fit a score of 8.2 out of 10 with high marks for a roomy interior, excellent fuel economy, and an extensive list of safety and infotainment features. With a starting price of about $17,120, most reviewers recommend the upgraded EX trim package.

For a little over $19,000, you get advanced safety tech and more basic features like hands-free key-less access. EPA fuel economy estimates for a Honda Fit with automatic transmission are as high as 36 MPG combined.

2020 Kia Soul

The Kia Soul’s tall hatch style lands somewhere between a car and crossover. Drivers love the thoughtful interior elements, and the 2020 Kia Soul lives up to this tradition. With a starting price of $18,535, the front-drive, compact Kia Soul hatch comes standard with:

  • 2.0 liter, inline four-cylinder engine
  • 25/31/27 MPG (city/highway/combined)
  • Seven-inch color touchscreen display
  • Six-speaker audio system
  • 60/40 split-folding rear seat

While the 2020 Kia Soul lacks the safety features found in the Nissan Versa, the car is ideal for those who seek a higher-seated experience common with compact SUVs.

2020 Chevrolet Sonic

With a starting price of $17,595, the new 2020 Chevrolet Sonic has two options: hatchback or sedan. MotorTrend lists it as a competitor to the 2020 Toyota Corolla and 2020 Hyundai Accent. The car comes standard with a four-cylinder Turbo 1.4 liter engine with 138 hp at 4900 lb/ft. It can get 26 city MPG and 34 highway MPG.

If you seek a subcompact with responsive handling, an information-packed gauge cluster, and a range of advanced safety technologies, then the 2020 Chevrolet Sonic is a good choice.