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Shopping for a cheap new car might sound like a drag. The good news is that it doesn’t have to be. In fact, there are plenty of affordable new cars on the market today that are worth your attention. From the 2021 Toyota Corolla to the 2022 Chevy Spark, let’s talk about the cheapest new cars you’ll actually want to buy.

The 2021 Toyota Corolla is a fuel-efficient cheap new car 

A grey 2021 Toyota Corolla Apex driving, the Corolla is one of the cheapest new cars
2021 Toyota Corolla Apex | Toyota

The 2021 Toyota Corolla has a lot going for it, especially if you’re in the market for a cheap new car. This year’s model starts at $20,025 and, at its most expensive, will only have you spending $28,310. Between its cheapest and most expensive trim levels are several other affordable trim levels, making the new Toyota Corolla the perfect pick for new car shoppers on a tight budget.

This year’s new Toyota Corolla has much more to offer than an affordable price tag too. In fact, this year’s model comes stock full of standard features, including a seven-inch touchscreen display featuring Android Auto, Apple CarPlay, and Amazon Alexa. The Corolla also comes standard with several driver-assist safety features. 

And if that’s not enough to convince you that this cheap new car has a lot going for it? The 2022 Toyota Corolla is a fuel-efficient new car too. In fact, the EPA reports that when equipped with a 1.8-liter engine, this year’s Corolla delivers an EPA-estimated 30 mpg in the city and 38 mpg on the highway. 

The 2021 Kia Soul is a cheap new car with a manual transmission

A red 2021 Kia Soul driving down an empty road
2021 Kia Soul | Kia

Say the 2021 Toyota Corolla isn’t quite your style. Perhaps it’s a cheap new SUV that you’re after instead. Or, maybe you’re in the market for a new car with a manual transmission. If that’s the case, you may want to take a look at the 2021 Kia Soul. This year’s model starts at $17,590 and is among the most affordable new cars under $20,000 on the market today.

Much like the Toyota Corolla, affordability isn’t all that this cheap new SUV has going for it. In fact, according to U.S. News & World Report, the 2021 Kia Soul is a cheap new car that also offers plenty of space. This year’s model offers seating for up to five people. U.S. News added, “The seats are both roomy and comfortable, and four adults should have no qualms sitting in this Kia for a long time.”

And when it comes to cargo space? The 2021 Kia Soul offers up plenty of it. As a matter of fact, this year’s model boasts a whopping 24.2 cubic feet of space behind the rear seats. Fold down the rear seats and that number swells to a full 62.1 cubic feet of cargo space.

The 2021 Nissan Versa is a cheap new car under $20,000

A blue 2021 Nissan Versa parked by flowers
2021 Nissan Versa | Nissan

There’s no beating around the bush here. The 2021 Nissan Versa isn’t the fastest new car out there. It’s not the most comfortable new car either. It is, however, a cheap new car under $20,000. In fact, opt for a 2021 Nissan Versa with a manual transmission and this cheap new car costs only $14,980. Upgrade to the Versa’s available continuously variable transmission and this affordable new car still costs just $16,650.

For such a cheap new car, the 2021 Nissan Versa has plenty to offer too. Whether you opt for the base Versa S to the range-topping SR, all Versa model comes standard with confidence-inspiring safety features like automatic emergency braking with pedestrian detection, lane-departure warning and even rear automatic braking. With such standard safety features to its name, it’s no wonder the NHTSA gave this year’s Versa a five-star overall safety rating.

“Just a few years ago, features like these were hard to find on luxury cars and they’re now standard fare on the most-affordable Nissan in America.”


Which cheap new car is the right pick for your budget?

There are plenty of cheap new cars out there. In fact, these are just a few. When it comes to choosing the right cheap car for your budget, we recommend starting with these options and taking them out for a test drive. And if none of them is a great fit for you? Consider checking out other cheap new cars like the Chevy Spark, the Kia Rio, and even the Hyundai Venue.


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