These days, its seems like new cars are getting more and more expensive, not to mention getting bigger and bigger. So, what do you do if you’re shopping for a cheap car on a budget and you don’t need a big, expensive SUV or pickup truck? Luckily, there are still many cheap small cars that are nice to drive, cheap to own, reliable, and provide good fuel economy. Below is our list of the best cars for those who’s chief concern is affordability.
The Best (and Cheapest) Small Cars to Buy in 2024
- Chevrolet Trax
- Hyundai Elantra
- Hyundai Venue
- Kia Forte
- Kia Soul
- Nissan Sentra
- Nissan Versa
- Subaru Impreza
- Toyota Corolla
- Volkswagen Jetta
Chevrolet Trax
Best for: Those who want a small, affordable car from an American brand
The Trax was redesigned for the 2024 model year, in the process becoming not only a better competitor to small-and-basic crossovers like the Hyundai Venue, but also a de facto replacement for Chevy’s discontinued lineup of small cars.
Styling combines car and SUV attributes, but the driving experience is decidedly car-like. The Trax’s 1.2-liter turbocharged inline-three engine is also thrifty, delivering 30 mpg combined, 28 mpg city, and 32 mpg highway while producing a respectable 137 hp and 162 lb-ft of torque. The tradeoff, however, is that the Trax is FWD-only.
Inside, an upscale dashboard design and impressive available tech features like an 11-inch touchscreen and 8-inch digital instrument cluster bely the Trax’s low starting price. And the Trax has more cargo space than its main rival, the Venue.
Hyundai Elantra
Best for: Safety-conscious car buyers
The Hyundai Elantra has grown up in recent years and is no longer the bargain basement penalty box it once was. Hyundai gives every car a long list of tech and safety kit, a stellar 10-year powertrain warranty, and a solid driving experience.
The Elantra comes standard with a 2.0-liter four-cylinder engine that produces 147 hp and 132 lb-ft of torque. A CVT and FWD are standard, but higher trims get more powerful engines. A seven-speed dual-clutch transmission is available on the sportier Elantra N-Line, while the range-topping Elantra N is available with a manual gearbox, But these models also emphasize performance more than affordability.
Hyundai equips every 2023 Elantra with an 8-inch touchscreen infotainment system, Bluetooth, wireless Apple CarPlay and Android Auto, two USB inputs, HD radio, and more. Upgrades include a 10.2-inch touchscreen, wireless phone charging, and navigation.
The Elantra's base engine produces plenty of power to get it moving with gusto, and its interior is surprisingly roomy for such a small car. Passengers enjoy plenty of space in the rear seats, though taller adults may sometimes feel a bit cramped.
Hyundai Venue
Best for: SUV shoppers on a budget
Cheap small cars aren’t limited to hatchback and sedan body styles. Amazingly, you can still buy an SUV for less than $20,000. Admittedly, that SUV is the Hyundai Venue, and it’s small—very small. Still, the tiny Venue does boast a starting price of just $19,900 (as of this writing), and you get a surprising amount of car for that price. The Venue is fun to drive, practical, and adorable. No, all-wheel drive (AWD) isn’t an option, but for folks looking for an affordable little crossover to drive around the city, it’s hard to beat the Hyundai Venue.
Wireless Apple CarPlay and Android Auto are included as standard equipment on the Venue’s base SE trim level. The 121-hp engine pairs with a continuously variable transmission (CVT) to deliver 29 mpg in the city, 33 on the highway, and 31 combined. And, weighing only 2,612 pounds, the Venue feels pretty quick and fun to drive around town.
Kia Forte
Best for: Shoppers seeking a faithful commuting companion
The Kia Forte compact sedan is a value-packed little car with solid fuel economy and great standard features. Its base price of just under $20,000 buys a standard 2.0-liter four-cylinder engine with 147 hp, front-wheel drive (FWD), and a CVT. A more powerful turbocharged 1.6-liter four-cylinder is available. Dual-clutch or manual transmissions can also can be optioned in for extra cash.
Every Forte gets an 8-inch touchscreen with wireless smartphone mirroring, USB inputs, and Bluetooth. Kia tosses in several driver aids as standard equipment, including lane-departure warnings, automatic emergency braking, and a driver-attention warning system. Options include navigation, wireless phone charging, an upgraded Harman Kardon sound system, and blind-spot monitoring.
The Forte doesn't see a ton of power from its base engine, but its mill is a solid companion for a daily commute or long road trips. The car delivers a comfortable, controlled ride with a relatively quiet interior. Gas mileage is excellent, with up to 37 mpg with the manual gearbox and up to 41 mpg with the CVT on board.
Kia Soul
Best for: Shoppers looking for a stylish small car
It may not be a fancy convertible or coupe, but if it’s style you’re after, the Kia Soul has it in spades. This funky little crossover-meets-station wagon has been around since the 2008 model year, but the latest generation (introduced for the 2020 model year) has elevated its swagger. The Soul boasts a distinctive front end, courtesy of thin headlights and a big, low-mounted grille, but it’s the profile that makes it instantly recognizable on the street. Thanks to its boxy dimensions, the Soul can swallow an impressive 62.1 cubic feet of cargo when the rear seats are folded.
The Soul also comes equipped with standard Apple CarPlay and Android Auto, and its 2.0-liter four-cylinder engine makes a satisfying 147 hp and 132 lb-ft of torque, but you can upgrade a turbo model for a higher price. Shoppers who’ve purchased a Soul routinely tell us how much they love their car, and with an affordable price tag, we can see why.
Nissan Sentra
Best for: Price-conscious sedan shoppers car
The Nissan Sentra has always been a price-conscious subcompact car, though its recent redesign made it more upscale than many expected. One powertrain is on offer, which includes a 2.0-liter four-cylinder engine, FWD, and a CVT.
The Sentra's surprisingly deluxe cabin offers standard equipment that includes a 7-inch touchscreen, four speakers, Bluetooth, USB inputs, and smartphone mirroring for Apple CarPlay and Android Auto. Buyers can opt for a larger touchscreen, six or eight speakers, SiriusXM satellite radio, and a WiFi hotspot.
The 2023 Nissan Sentra is not a quick car, but its four-cylinder engine generates plenty of grunt. Though Nissan's CVTs are as good as anyone's, the application here allows the engine to whine and wail at higher speeds and during heavy acceleration.
Nissan Versa
Best for: Those who want the cheapest new car possible
Unless you’re going to shop in the used-car market, the Nissan Versa is the least expensive model you can buy, recently unseating the Mitsubishi Mirage for the honor. However, that’s not to say the Versa is a bad car, not at all. Today, even the cheapest new cars offer impressive features that as standard equipment. In the Versa’s case, that includes cruise control, a 7-inch touchscreen display, and an impressive array of advanced safety features including automatic emergency braking and lane-departure warning.
The Versa is no sports car, but it’s still a pretty fun car to drive. The 1.6-liter four-cylinder engine delivers a pokey 122 horsepower and 114 pound-feet of torque, and it comes standard with a five-speed manual transmission. Once upon a time, the cheapest new cars on sale were basically rolling penalty boxes. The Nissan Versa proves that’s not the story, anymore.
Subaru Impreza
Best for: Those who need AWD without breaking the bank
The Subaru Impreza offers a compelling mix of standard AWD capability, value, and comfort. Redesigned for the 2024 model year, the all-new Impreza looks a bit more aggressive and sporty than before. The car's diminutive size and stadard AWD give it great handling, but it lacks power, and the engine can sometimes sound unrefined. Offsetting that is the new RS trim, which upgrades the base 2.0-liter four-cylinder powertrain to a 2.5-liter engine, good for 182 hp and 178 lb-ft of torque.
Of course, if you're looking for value, the A 2.0-liter four-cylinder engine is the way to go. Although its 152 hp and 145 lb-ft may cedes performance to the RS motor, it still comes paired with the same CVT, and it delivers 27 mpg city, 34 highway, 30 combined.
Around town, the Impreza's power delivery should feel more than adequate, and the Impreza offers engaging, confident handling and the ability to traverse some of the worst weather conditions, thanks to its AWD system.
Toyota Corolla
Best for: Buyers who want a basic, but well-equipped small car
The Toyota Corolla is one of the best-selling vehicles of all time, with over 50 million units sold since its inception. This compact car is well-equipped, comfortable, and packed with advanced safety features. The base Corolla starts at around $21,500 and comes equipped with a 2.0-liter four-cylinder engine that makes 169 hp and 151 lb-ft of torque. FWD and a CVT are standard.
Toyota equips every Corolla with a long list of features, including an 8-inch touchscreen running Apple CarPlay and Android Auto, USB inputs, SiriusXM satellite radio, Bluetooth, lane-departure alerts, forward-collision warnings, lane-keep assist, adaptive cruise control, road-sign detection, and automatic high beam headlights.
Though its standard engine isn't going to help it win drag races, the Toyota Corolla makes a solid urban runabout and a comfortable road trip cruiser. It has earned great safety ratings and a 2023 Top Safety Pick award from the Insurance Institute for Highway Safety (IIHS). A bit more wind and road noise make their way into the cabin than many would like, but it's not intrusive or overwhelming by any means.
Volkswagen Jetta
Best for: Commuters who value fuel efficiency and driver involvement
The Volkswagen Jetta is a stalwart small car that brings solid gas mileage, a spacious cabin, and a comfy ride. At just over $21,000 to start, the car also offers serious value, and its fuel-efficient engine reduces operating costs for people who drive extensively.
The Jetta comes standard with a turbocharged 1.5-liter engine making 158 hp and 184 lb-ft of torque. It's paired with a six-speed manual transmission and FWD, but an eight-speed automatic transmission is available for folks not wanting to row their own gears.
The four-cylinder engine delivers adequate power from a standstill, but the grunt fizzles at higher speeds. Volkswagen makes an excellent manual transmission with an engaging and direct feel that makes the driver feel connected to the car. The Jetta returns up to 40 mpg on the highway in its most fuel-efficient configuration.
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