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Many are lamenting the high price of both new and used cars and the death of the $20,000 new car. But there are several for 2024 that still exist. Here is the cheapest new car for 2024, which is way below $20,000. It is the 2024 Nissan Versa, and its MSRP is $16,130.

If you’re looking for a bargain basement new car, this is it. And while those budget-conscious buyers might opt for snagging something used, they may want to reconsider. That’s because used car prices have not fallen as most thought they would after the pandemic and supply issues were gone. 

Is the 2024 Versa a better pick than a used car?

Blue 2024 Nissan Versa sedan on pavement
2024 Nissan Versa sedan | Nissan

Looking for a $20,000 older car now means one that is five or six years old as opposed to two or three, as was the case just a couple of years ago. So why not just go for the cheapest new car you can find, with all the warranty and service perks from buying new? 

There aren’t any premium materials or anything that looks newer than 2015, but that’s OK. Part of the reason is that nothing visually has changed except paint colors. But there is plenty of tech, like Automatic Emergency Braking with Pedestrian Protection, Rear Automatic Braking, Lane Departure Warning, and High Beam Assist. 

Has the 2024 Versa changed from 2023?

2024 Nissan Versa sedan black interior
2024 Nissan Versa sedan | Nissan

And while the infotainment screen isn’t the width of the dash, it is a usable seven-inch deal. There is also a four-speaker audio system, remote keyless entry, power windows and locks, and cruise control. 

The 2024 Versa is in its third generation. Nissan’s compact sedan was all-new for 2020, so it is in its fifth year. The Japanese automaker hasn’t seen a reason to change much since then because it is what it is: an entry-level contemporary compact sedan and the cheapest new car for 2024.

Are there any other new cars around this price?

Blue 2024 Nissan Versa sedan with hills
2024 Nissan Versa sedan | Nissan

But that has given Nissan the latitude to keep the price low. It is only $150 more than the 2023 model. And with sedans falling by the wayside every year, it is really great that Nissan continues making it at all. 

Another 2024 model that is just a bit more, at $16,695, is the Mitsubishi Mirage. So that’s another option. Or you could go for the middle Versa trim, the SV. A whole gang of options opens up with this, like an upholstery upgrade, split-fold rear seat, push-button ignition, 16-inch wheels, and additions to the color palette. More safety features are part of the SV, including Blind Spot Warning and Rear Cross Traffic Alert. 

What engine and transmission does the 2024 Versa have?

2024 Nissan Versa sedan black interior with red accents
2024 Nissan Versa sedan | Nissan
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Finally, the top-of-the-line Versa is the SR, which has an MSRP of $20,140. All three trims come with the 1.6-liter four-cylinder engine with 122 hp. Both a five-speed manual transmission and CVT automatic transmission are available. The manual comes standard with the base Versa. 

So, if you’re in the market for a used vehicle, especially a sedan, you might flip the script and go for something like the 2024 Nissan Versa