Lowest Priced New Cars for 2020

New cars today have an average transaction price of about $37,000.  Seem high?  Many shoppers may opt for the used car option as a result. But  for those hell bent on a NEW vehicle over used… plenty of cheap, affordable new car options exist that are appealing…especially if your preferences are flexible.

Here are today’s most affordable cars grouped in various segments, from hatchbacks to pickups to electric vehicles. Some will catch your eye with a rock-bottom starting price but provide dubious quality or questionable performance. If that’s the case, don’t worry — we’ll warn you. Others have managed to score well in our comprehensive vehicle testing program despite their exceptional affordability. That’s the combination you’re looking for, and you’ve come to the right place to find it.

Notice that our vehicle listings don’t stop at the model’s starting MSRP. Drawing on Edmunds’ peerless automotive data, we also give you the average transaction price for that model, including all trim levels.

For buyers shopping with a strict budget as their first priority…here are today’s cheapest rides, period, based on the starting MSRP.

2020 Chevrolet Spark hatchback

Sure, Spark is tiny, and rear-seat and cargo space suffer accordingly. It’s also slow. But it has it’s high spots. The Spark is easy to maneuver and park, its fuel economy is impressive at 33 mpg combined, and it comes with good tech, including a 7-inch touchscreen, Apple and Android smartphone connectivity, and even a Wi-Fi hotspot.

Starting price, including destination: $14,095
Average transaction price, including destination: $16,888
Fuel economy: 33 mpg combined

2020 Mitsubishi Mirage hatchback

Given that its Chevy competitor is better by nearly every measure and has a lower starting price, it’s hard to make a case for the Mirage. Frankly, it’s hard to make a case for the Mirage no matter what. That said, the Mirage does offer an eye-popping EPA fuel economy rating of 39 mpg combined, while its 10-year/100,000-mile warranty brings peace of mind. It could be a good fit for drivers seeking maximum fuel economy for long commutes, although the profound lack of power turns every passing or merging maneuver into a white-knuckle affair.

Starting price, including destination: $14,790
Average transaction price, including destination (2019 model): $16,768
Fuel economy: 36-39 mpg combined

2020 Nissan Versa sedan

The Versa was once the least expensive car in America. The new model, redesigned for 2020, now costs a little more but is a better car for it. The price increase brings more standard features (including power windows and keyless entry), a slightly more powerful engine that doesn’t sacrifice fuel economy, and more expressive styling. The Versa is also roomier than its hatchback rivals and boasts a sizable trunk.

Starting price, including destination: $15,625
Average transaction price, including destination: $18,393
Fuel economy: 30-35 mpg combined

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