Only 5 of the 10 Cheapest New Cars Are Still Under $20,000

Finding a cheap new car is no easy task these days. It used to be that finding something you liked that was cheap was the hard part. Not anymore. Everything is expensive — even some models dealing with major recalls and quality issues. In fact, of the top 10 cheapest new cars on the market today, only five of them are under $20,000. 

A silver 2022 Kia Forte driving in the opposite direction
2022 Kia Forte | Kia

The further into these supply chain and production issues, the higher demand will get, continuing to raise prices. Most folks would recommend waiting as long as possible to buy a new or used car, but if you have to buy a car, here are some of the cheapest new cars on the market. 

What are the 10 cheapest new cars on the market today?

Cars.com compiled a list of the 10 cheapest cars currently on the market. Cars.com distinguishes that every car on this list is automatic, technically making this a list of the cheapest automatic new cars. Being that this is America, that distinction is barely necessary. 

1. 2022 Chevrolet Spark LS: $15,695

2. 2022 Mitsubishi Mirage ES: $16,990

3. 2022 Kia Rio LX: $17,275

4. 2022 Hyundai Accent SE: $17,670

5. 2022 Nissan Versa S: $17,775

6. 2022 Kia Forte FE: $20,115

7. 2022 Hyundai Venue SE: $20,125

8. 2022 Kia Soul LX: $20,505

9. 2022 Nissan Sentra S: $20,535

10. 2022 Hyundai Elantra SE: $20,875

As you can see, only five of these economy models clock in under $20,000. That is a tough pill to swallow for those of us who remember the buy one, get one free Kias. 

2022 Chevy Spark

2022 Chevy Spark in blue
2022 Chevy Spark | GM

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Price: $15,695, including $995 destination charge

The 2022 model is the final year model for the Spark. That’s right; Chevy is discontinuing the Spark. On the one hand, the 2022 Chevy Spark is the cheapest car on the market. However, the Spark has a nasty habit of literally exploding. 

No one should turn their nose up at a good economy car; however, if they regularly explode, maybe the savings aren’t worth it. The Spark isn’t very well-equipped, but it has Bluetooth, Apple CarPlay, Android Auto, and 4G wifi hotspot capability. 

2022 Mitsubishi Mirage

Price: $16,990, including $995 destination

The Mirage is crazy slow. Power goes to the front wheels only via a 1.2-liter three-cylinder engine. It isn’t quick or sharp in any way, but it does get a phenomenal 39 mpg. 

Cars.com mentions that the 2022 model went unchanged from the 2021 model, which got a new face and revised rear bumper, an updated interior with new soft-touch materials, a new standard 7-inch touchscreen, and standard safety features including automatic emergency braking with pedestrian detection across all trims. If you want a trunk, Mitsubishi also offers a sedan variant called the Mirage G4; it starts with the CVT at $17,990.

2022 Kia Rio LX

2022 Kia Rio in blue
2022 Kia Rio | Kia

Price: $17,275, including $1,025 destination

The Kia is the first on the list to get a proper engine. The 2022 Kia Rio LX is a sedan sporting a four-cylinder powerplant, CVT as standard, and FWD. The interior isn’t fancy, but it does have an 8-in touchscreen infotainment interface, rear camera, and wireless Apple CarPlay and Android Auto. 

You’ll have to step up to the higher trims if you want any driver assistance features like automatic emergency braking. 

2022 Nissan Versa S

The 2022 Nissan Versa subcompact sedan offers an exceptional level of refinement with an exciting design, technology and safety features not usually found in the segment.
2022 Nissan Versa | Nissan

Price: $17,625, including $975 destination

Unlike everything else in the cheap bracket thus far, the Nissan comes loaded with active safety features like automatic emergency braking with pedestrian detection, reverse automatic braking, lane departure warning, and high-beam assist. At this price point, this is an impressive lineup of features. 

At the risk of just bragging, those who go with the Versa also get cruise control, automatic headlights, push-button start, and Bluetooth streaming audio. And if that wasn’t enough from one of the cheapest new cars, the Versa S is a full-size sedan getting 35 mpg. 

2022 Hyundai Accent SE

2022 Hyundai Accent in red parked in front of a fence.
2022 Hyundai Accent | Hyundai Motor Company

Price: $17,670 including $1,025 destination

For the last 10 years or so, Hyundai and Kia have been on a run. Model after model is winning awards and receiving critical acclaim. However, you might not have heard much about the Hyundai Accent from all the Hyundai Elantra or Kona. Still, the Accent is a bit cheaper and still a solid Hyundai. 

Similar to the Kia Rio, the Accent is the smallest car in its line but still rocks a proper four-pot, CVT, and 36 mpg. If you want car play programs, driver assist, or active safety features, you’ll have to step up to the higher, more expensive trims. 

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