Cheapest New Cars for 2024, if you’re looking for the cheapest car that you can buy continue reading. Car prices are going up overall, including the cheaper ones, but there’s still good value in the low-priced new car market for 2024.
Compact cars like the Honda Civic and Mazda 3 give you a lot of car for your money. Even smaller cars, like the updated Nissan Versa, have cool looks without a big price increase.
You can find really basic options in the subcompact category too, but we usually suggest looking at the cheapest new cars in the middle or upper price range on this list if your budget allows.
Cheapest New Cars for 2024
- Nissan Versa
- Mitsubishi Mirage
- Kia Forte
- Nissan Sentra
- Hyundai Elantra
- Volkswagen Jetta
- Toyota Corolla
- Subaru Impreza
- Honda Civic
- Mazda 3
Now let’s get into some details.
Nissan Versa [$17,405]
The 2024 Nissan Versa has taken the title of the cheapest new car, surpassing the very basic Mirage. It outperforms the Mirage in all aspects except fuel economy, yet manages to be more affordable.
While it may not be as highly regarded as the discontinued Kia Rio, the Versa stands as the last remaining economical subcompact car in a market leaning towards higher prices.
With decent fuel efficiency, a refined 1.6-liter engine generating 122 hp, and options for a five-speed manual or available CVT, it offers a comfortable ride and sufficient cargo space for its size.
Despite potential cabin road noise and a lack of speed, the Versa’s solid safety ratings and the lowest base price in the market make it a reliable choice for the most affordable car available.
Mitsubishi Mirage [$18,110]
The 2024 Mitsubishi Mirage, now the second-cheapest vehicle available, used some clever tactics but ended up missing the top spot on the cheapest car list.
The Mirage’s base price doesn’t cover two required options: the $165 “Welcome Package” and the $155 tonneau cover.
In a car where even the owner’s manual is considered an extra add-on, the Mirage epitomizes minimalism for a 2024 car.
Weighing almost half of the average 2024 vehicle, its driving experience is far from ideal, safety is only passable, and performance is minimal. Despite its low cost, the Mirage comes with significant drawbacks.
Kia Forte [$20,915]
The most affordable compact car for 2024 is the Kia Forte, and its simplicity can be seen as an advantage.
The base Forte is indeed basic, equipped with a somewhat unrefined CVT and receiving less than stellar safety ratings.
However, the Forte compensates in crucial aspects, especially with its impressive fuel economy from the 2.0-liter I-4 engine that produces 147 hp, even though it may not be the most powerful for the base model.
At the top tier, the Forte GT stands out with an energetic powertrain and a wide range of features, all offered at a lower price compared to much of the competition.
Nissan Sentra [$21,295]
If you’re in the market for an affordable entry-level car with solid value, consider taking a closer look at the newly updated 2024 Nissan Sentra.
While it may not fully compete with the segment leaders in some aspects, it boasts appealing exterior design, excellent mpg ratings, and ample interior space – all at a price that’s a few thousand dollars less.
However, it’s important to note that the Sentra’s 2.0-liter inline-four engine, generating 149 hp, might struggle due to a modest power-to-weight ratio, and all trims lack the option for all-wheel drive (AWD).
Hyundai Elantra [$22,065]
Undoubtedly one of the best deals in any vehicle category, the 2024 Hyundai Elantra competes strongly with the Civic and Corolla, offering comparable features at a lower cost.
Spacious, fuel-efficient, and recognized as a 2022 IIHS Top Safety Pick, the Elantra receives a stylish upgrade for the 2024 model year while maintaining its status as the top budget choice in the compact car segment.
The base Elantra, equipped with a 2.0-liter inline-four engine producing 147 hp and a CVT, surpasses similarly priced competitors in terms of features.
This advantage persists as you move up the trim levels, with the high-performance Elantra N outperforming more expensive sport compacts.
Volkswagen Jetta [$22,585]
The 2024 Volkswagen Jetta is recognized for its unassuming design and impressive fuel efficiency.
Initially budget-friendly, the compact sedan makes sacrifices in features to achieve its low price, which can be a drawback.
Ride and handling are not optimal, and the interior feels less expensive than its actual cost. The available manual transmission may offer engagement, but unresponsive steering can diminish the driving experience.
Despite these shortcomings in the chassis and interior, the base Jetta, powered by a 1.5-liter turbocharged I-4 producing 158 hp, accelerates faster than its competitors while maintaining fuel efficiency.
On the higher end, the Jetta GLI stands out as a commendable option among sport compacts. (Note: The image shows a 2023 Jetta.)
Toyota Corolla [$22,995]
A consistent favorite for balancing affordability with a positive driving experience, the 2024 Toyota Corolla is available in sedan or hatchback models, offering ample interior space and commendable safety ratings.
However, it lags behind the Civic in terms of interior materials and driving dynamics. The base Corolla, equipped with a 169-hp 2.0-liter I-4 and CVT, stands out as notably quicker than other compact cars at the base level due to its powerful engine and lighter weight.
For those seeking a more exhilarating experience, the turbocharged, manual, all-wheel-drive GR Corolla sits at the top of the lineup.
Yet, if the focus is on attractive design, reliability, and affordability, the base Corolla or Corolla Hybrid will deliver admirably.
Subaru Impreza [$24,115]
The 2024 Subaru Impreza prioritizes personality over looks. While it may not be considered pretty, this spirited Subaru excels in handling, and, true to Subaru’s tradition, it comes with standard all-wheel drive.
Despite its well-tuned chassis and suspension, labeling the Impreza, even in its revamped RS trim, as “sporty” goes a bit too far.
The Subaru’s CVT doesn’t quite measure up as an athletic transmission, and the Impreza’s 2.0-liter naturally aspirated flat-four base engine, producing 152 horsepower, falls into the category of being slow, but not dangerously so.
Honda Civic [$25,045]
The 2024 Honda Civic, showing a more mature design than its previous generations, maintains excellent driving performance and offers significant value, especially in terms of safety.
However, many of the Civic’s premium features are found in higher-tier models.
Nevertheless, the base Civic provides excellent value for money, provided you can accept the 2.0-liter naturally aspirated four-cylinder engine generating 158 hp.
While it achieves up to 40 mpg on the highway, its 0-60 time is a modest 9.2 seconds. Those seeking better straight-line performance will need to opt for the 1.5-liter turbo engine.
Mazda 3 [$25,335]
It’s a tough task to find another five-passenger vehicle on the market within $10,000 of the 2024 Mazda 3 that matches its impressive aesthetics inside and out.
The Mazda 3’s driving experience is commendable too, thanks to the base model’s 2.5-liter naturally aspirated inline-four engine, delivering 191 hp and providing ample power for an engaging drive.
While the rear seating may be slightly more confined due to the car’s sleek profile, its overall performance and the option for all-wheel drive contribute to making the Mazda 3 a strong contender in a competitive segment.
Cheapest New Cars for 2024 With Prices
- Nissan Versa | $17,405
- Mitsubishi Mirage | $18,110
- Kia Forte | $20,915
- Nissan Sentra | $21,295
- Hyundai Elantra | $22,065
- Volkswagen Jetta | $22,585
- Toyota Corolla | $22,995
- Subaru Impreza | $24,115
- Honda Civic | $25,045
- Mazda 3 | $25,335
Final Thoughts
In conclusion, the Cheapest New Cars for 2024 offer diverse options for budget-conscious buyers. From the efficiency of the Nissan Versa to the spirited performance of the Mazda 3, there’s something for everyone.
The Hyundai Elantra impresses with affordability and features, while the Toyota Corolla remains a reliable favorite.
The Subaru Impreza, with standard AWD, adds a rugged appeal. The Honda Civic excels in driving performance, and the Mazda 3 stands out for its stunning design.
With choices like the Mirage, Forte, and Jetta, the cheapest new cars for 2024 cater to a variety of preferences, making car shopping an exciting and budget-friendly experience.