9 Best Cheap Cars Under 20k You Can Buy In 2023 And 2024

Best cheap cars

Cars are one of the most expensive yet popular items in the market. This is why many of us strive to find the best cheap cars. Prices of vehicles are higher than ever. It is not only in the brand-new market but also in the used car market.

Such a rise in price makes it seem like getting your hands on a newly released SUV, sedan, sleeper car, or pickup is impossible. While this rise in car prices is true, there are still some of the cheapest cars, or as we like to call them, affordable models available for sale.

So, whether you live in New York, Cincinnati, California, or any other place in the USA, you can get affordable cars for teens, adults, and the elderly. All you need to know is where to look. We bring you this easy guide to help you all look for the cheapest new cars 2023 offers.

We have compiled this list of the nine cheapest cars in the USA in 2023 that come with compelling features and will be easy on your pockets. Let us begin and review the top nine cheapest cars in 2023.

9 Best Cheapest New Cars In 2023 For All The Car Lovers

Prices of vehicles are escalating. One of the biggest reasons for this is the rise in demand and shortage in supply. This disbalance and constant upgradation in the automotive world has made the industry costlier than ever.

However, some automakers still love to think about their customers before their profit. Despite the high-end vehicles from top American car brands and European car brands, you can get the best affordable cars in 2023 from top Japanese car brands and others.

Before you jump into what type of car should I buy you should learn your buying options. Once you know if there are any best cheap cars under 30k or nice affordable cars for young adults, you can quickly move on to the next step of buying that car on sale.

Here, we have reviewed the nine best cheap cars 2023 has for people looking for an affordable brand-new car. Go through each review to compare fairly and conclude whether the best affordable cars 2023 has are pocket-friendly to you.

1. 2023 Nissan Versa – $15,980

Best cheap cars
  • MSRP: $15,980
  • Engine: 1.6 L 4-cylinder
  • Horsepower: 122 hp
  • MPG: 32 City / 40 Highway
  • Transmission: Continuous variable transmission, 5-speed manual
  • Top Speed: 115 mph
  • Acceleration (0-60 mph): 8.5 to 9.2 seconds
  • Dimensions: 177″ L x 69″ W x 57-58″ H
  • Annual Fuel Cost: $1,650

The 2023 Nissan Versa is the best cheap car under 20k you can buy this year. This compact car has a well-built cabin, good ride quality, serviceable handling dynamics, and a perfect blend of tech & safety features.

Also Check: List of 16 Best Fuel Efficient Cars of 2023 and 2024

The interior quality of this sedan is good. There is enough space to seat five people. The cargo hold is impressively large for its class. The 2023 Versa is powered by a 1.6-liter four-cylinder engine paired with a standard five-speed manual transmission producing 122 hp.

For 2023, Nissan has refreshed the exterior styling of Versa. You also get updated infotainment technology, and many standard driver assistance features.

Furthermore, with the 2023 Nissan Versa, you get limited warranty coverage for three years, powertrain warranty coverage for five years, and no complimentary scheduled maintenance. Lastly, this car has a five-star overall safety rating from NHTSA and a GOOD rating from IIHS.

Pros

  • Highly affordable price for a brand-new car
  • Solid interior build quality
  • Large cargo hold
  • Good gas mileage
  • Comfortable ride quality
  • A lot of standard and available driver assistance features

Cons

  • Underpowered engine
  • Smaller back seat than many competitors

2. 2024 Mitsubishi Mirage – $16,695

Cheapest new cars 2023
  • MSRP: $16,695
  • Engine: 1.2 L 3-cylinder
  • Horsepower: 78 hp
  • MPG: 36 City / 43 Highway
  • Transmission: Continuous variable transmission
  • Top Speed: 105 mph
  • Acceleration (0-60 mph): 10.4 seconds
  • Dimensions: 151″ L x 66″ W x 59″ H
  • Annual Fuel Cost: $1500

If you are looking for the best cheap cars for teens, the 2024 Mitsubishi Mirage is a great choice. This compact car is powered by a 1.2-liter three-cylinder engine car mated with the continuous variable transmission, channeling 78 hp.

You do not have to worry about the safety of your young one as this vehicle can attain a top speed of only 105 mph and accelerate to 60 mph in 10.4 seconds. EPA suggests the 2024 Mirage to anyone looking for impressive fuel economy from a gas-powered vehicle.

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This best cheap car has an interior depicting its price. The interior is plain and filled with hard plastic. This ride might not be as comfortable as other vehicles on this list. Lastly, Mitsubishi offers good safety features to this ride. This vehicle has bagged a four-star overall safety rating from NHTSA.

Pros

  • Fuel efficient
  • The base model is well-equipped
  • One of the few good subcompact hatchbacks available in the market

Cons

  • Unrefined interior
  • Slow

3. 2023 Kia Rio – $16,750

Best cheap cars 2023
  • MSRP: $16,750
  • Engine: 1.6 L 4-cylinder
  • Horsepower: 120 hp
  • MPG: 32 City / 41 Highway
  • Transmission: Continuous variable transmission
  • Top Speed: 120 mph
  • Acceleration (0-60 mph): 10 seconds
  • Dimensions: 160-173″ L x 68″ W x 57″ H
  • Annual Fuel Cost: $1,600

The 2023 Kia Rio is a four-door compact car available in sedan and hatchback body styles. This ride is powered by a 1.6-liter four-cylinder engine mated with continuous variable transmission, making 120 hp. You get comfortable ride quality, excellent fuel economy and a user-friendly infotainment system to make your drive better than ever.

With this easy-to-drive car, you get Kia’s impressive warranty coverage. You get a limited warranty cover for five years and a powertrain warranty cover for ten years. This is a cute car for girls who wish to own something affordable but with good features.

Pros

  • Good fuel economy
  • Comfortable ride quality
  • Standard wireless Apple CarPlay and Android Auto
  • Good driving manners

Cons

  • Noisy engine at higher speeds
  • Tight rear seats

4. 2023 Hyundai Venue – $19,650

Best affordable cars 2023
  • MSRP: $19,650
  • Engine: 1.6 L 4-cylinder
  • Horsepower: 121 hp
  • MPG: 29 City / 33 Highway
  • Transmission: Continuous variable transmission
  • Top Speed: 102 mph
  • Acceleration (0-60 mph): 9.9 seconds
  • Dimensions: 159″ L x 70″ W x 62″ H
  • Annual Fuel Cost: $1,900

If you are fond of South Korea, you must know there is more to the country than K-pop and amazing BTS. The country is known for its competitive automobile industry. Hyundai is one of the world’s biggest South Korean automotive brand names.

The automaker now offers the cheapest new cars 2023 SUV, for people looking for a family ride under budget. 2023 Hyundai Venue is a subcompact SUV that can be yours for a starting price of $19,650.

The model is powered by a 1.6 L 4-cylinder engine mated with CVT, channeling 121 hp. This is indeed among the safe cars for teenagers in 2023, with its maximum speed of 102 mph and acceleration of 9.9 seconds.

According to the EPA, the annual fuel cost of 2023 Venue is $1,900, and you save about $1,000 in fuel costs over five years. Overall, this SUV is easy to maneuver, good on gas, and comes with many standard & available features like keyless ignition, sunroof, push-button start, wireless device charging, and more.

Pros

  • Affordable price
  • Easy to handle
  • Easy-to-use tech features

Cons

  • Weak engine
  • Low cargo capacity

5. 2023 Kia Forte – $19,690

Cheapest cars
  • MSRP: $19,690
  • Engine: 1.6 L 4-cylinder, 2.0 L 4-cylinder
  • Horsepower: 147 to 201 hp
  • MPG: Up to 30 city / 41 highway
  • Transmission: Continuous variable transmission
  • Top Speed: 123 mph
  • Acceleration (0-60 mph): 7.3 to 8.2 seconds
  • Dimensions: 183″ L x 71″ W x 57″ H
  • Annual Fuel Cost: $1,700

Finding cheap new cars under $10,000 is nearly impossible, but you sure can get a good one under $20,000. 2023 Kia Forte is one such great example. This compact car comes with high quality, spacious interior, a large cargo hold, impressive fuel economy, and plenty of standard & available features.

The vehicle comes standard with a 147 hp 2-liter four-cylinder engine, whereas the 201 hp turbocharged 1.4 liters four-cylinder engine is optional. With this 2023 fun car, you can attain a top speed of 123 mph and sprint from zero to 60 mph in 7.3 to 8.2 seconds.

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Apart from this, Kia also offers limited warranty cover for five years, and powertrain warranty cover for ten years as standard.

Pros

  • Spacious and impressive quality cabin
  • Impressive fuel economy
  • Good cargo hold
  • Easy-to-use infotainment system

Cons

  • Mediocre base engine

6. 2024 Kia Soul – $19,990

Cheapest cars 2023
  • MSRP: $19,990
  • Engine: 2.0 L 4-cylinder
  • Horsepower: 147 hp
  • MPG: Up to 29 city / 35 highway
  • Transmission: Continuous variable transmission
  • Top Speed: 120 mph
  • Acceleration (0-60 mph): 8 seconds
  • Dimensions: 165″ L x 71″ W x 63″ H
  • Annual Fuel Cost: $1,900

Kia is ruling this list of cheapest new cars 2023. Another South Korean make you can park in your garage is the 2024 Kia Soul. This hatchback can be yours for a starting price of $19,990. It is powered by a 2-liter four-cylinder engine mated with continuously variable automatic transmission channeling 147 hp to the front wheels.

The interior is spacious and upright, filled with youthful cheekiness and impressive features like textured door-panel inserts, ambient lighting, head-up display, heating seats & steering wheels, and more.

The entertainment gets superior with a 10.3″ touchscreen display. Satellite radio, real-time traffic updates, in-dash navigation, and a wireless smartphone charging pad are all there for you.

Pros

  • Stylish inside out
  • Spacious interior
  • Many features are offered for the money

Cons

  • Less fuel-efficient than most rivals
  • The all-wheel drive option is not available

7. 2023 Nissan Sentra – $20,200

Best cheap cars under 20k
  • MSRP: $20,200
  • Engine: 2.0 L 4-cylinder
  • Horsepower: 149 hp
  • MPG: Up to 29 city / 39 highway
  • Transmission: Continuous variable transmission
  • Top Speed: 142 mph
  • Acceleration (0-60 mph): 8 seconds
  • Dimensions: 183″ L x 72″ W x 57″ H
  • Annual Fuel Cost: $1,750

Another sedan cheapest new car 2023 has for budget-conscious buyers is the 2023 Nissan Sentra. This compact vehicle has a well-built interior, is spacious enough to seat five people comfortably, and is filled with many standard features.

The 2-liter four-cylinder engine channels 149 hp to the front wheels. You can attain a top speed of 142 mph and sprint from zero to 60 mph in 8 seconds.

There are no significant changes for 2023 in the Sentra lineup. Still, you sure will enjoy the stylish leather upholstery, 7″ standard infotainment system, and plenty of standard driver-assistance technology. Also, the 2023 Nissan Sentra has bagged a five-star overall safety rating from NHTSA.

Pros

  • Good quality interior
  • Comfortable seats
  • Plenty of standard tech & safety features
  • Affordable trim options

Cons

  • Underpowered & noisy engine
  • Below-average trunk space

8. 2024 Chevrolet Trax – $20,400

Best affordable cars 2023
  • MSRP: $20,400
  • Engine: 1.2 L 3-cylinder
  • Horsepower: 137 hp
  • MPG: 28 City / 32 Highway
  • Transmission: 6-speed automatic
  • Top Speed: N/A
  • Acceleration (0-60 mph): 8 seconds
  • Dimensions: 179″ L x 72″ W x 61-62″ H
  • Annual Fuel Cost: $1,950

When talking about the best cheap cars, how can we forget the famous automaker Chevrolet? The automotive company is well known for its affordable ride, and for 2024, its Trax lineup is a great choice.

Every Trax model is powered by a 1.2-liter three-cylinder engine paired with six-speed automatic transmission and front-wheel drive, producing 137 hp. For 2024, the Chevrolet Trax is fully redesigned and now boasts an upscale and airy cabin space filled with many premium features.

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You get competent driving dynamics, a driver-facing infotainment screen, a longer wheelbase, additional legroom in the rear, remote start, heated front seats & steering wheel, and more.

Your drive is made secure with the help of the standard Chevy Safety Assist driver-assistance suite. This ride is yet to be rated by NHTSA and IIHS for its safety. You can visit their websites to learn more.

Pros

  • High-end, spacious interior
  • Good cargo space
  • Low base price
  • User-friendly infotainment system
  • More legroom than before, especially in the rear

Cons

  • All-wheel drive is not available
  • Sluggish acceleration and transmission

9. 2023 Nissan Kicks – $20,590

Sedan cheapest new cars 2023
  • MSRP: $20,590
  • Engine: 1.6 L 4-cylinder
  • Horsepower: 122 hp
  • MPG: 31 City / 36 Highway
  • Transmission: Continuous variable transmission
  • Top Speed: N/A
  • Acceleration (0-60 mph): 10.7 seconds
  • Dimensions: 169″ L x 69″ W x 63″ H
  • Annual Fuel Cost: $1,750

If you want the best cheap cars for your growing family, the 2023 Nissan Kicks is a great option. This affordable subcompact SUV can be yours for a starting price of $20,590. It has a single 1.6-liter four-cylinder engine paired with CVT, which only channels 122 hp to the front wheels.

Suggestion: Top 10 Cars That Get 40 MPG Under $10000

You get decent space in the cabin, making it ideal for everyday commutes and long trips. The cargo space is also good for the class. The well-built interior boasts spacious rear seats, large door pockets, a large glovebox, and an easy-to-use 7″ infotainment system featuring Bluetooth, & more.

To make your ride safe, Nissan offers a host of standard driver-assistance technology with standard automated emergency braking. Also, 2023 Kicks has a four-star overall safety rating from NHTSA.

Pros

  • Good seating and cargo space
  • Great fuel economy
  • Plenty of standard features
  • Affordable starting price
  • Practical ride

Cons

  • Weak engine
  • All-wheel drive is not available

Top FAQs About Best Affordable Cars 2023

What is Toyota cheapest new cars 2023?

If you are looking for a cheap ride from the biggest automaker in the world, then the 2024 Toyota Corolla is the company’s most affordable option.

You can buy the base model of the 2024 Corolla for a starting price of $21,900.

The all-new Corolla is powered by a 2-liter four-cylinder engine paired with Continuous variable transmission, channeling 169 hp.

The 2024 Toyota Corolla is available in four trims ranging from $21,900 to $27,000.

What is the best cheap car of 2023?

The best cheapest new cars 2023 has for new car buyers is the Nissan Versa. This 2023 model is a compact car that can be yours for a base price of $15,980.

Owning a brand-new car under $20,000 is nothing but a dream come true.

So, if you only wish to get your hands on a new ride and want it to be cheap, the 2023 Nissan Versa is for you.

You can make this cheap car look expensive by installing high-end car seat covers, car floor mats, and more.

What is the cheapest type of vehicle to buy?

The cheapest kind of vehicle that you can get in 2023 and 2024 is the subcompact car.

The subcompact vehicles are currently prevalent and are the cheapest automobile segment.

Every automobile company has over 10 subcompact car models available for every kind of buyer, from cheap to premium.

Apart from this, pickup trucks and SUVs are generally more expensive. So, a subcompact is an excellent alternative if you wish to own a ride that is spacious and big, like an SUV, but can not afford it.

What is the best time to buy a car?

Whether you are buying a brand new car or a used one, if you wish to make a profitable purchase, you need to pay close attention to when you buy it.

The best times to get a car are the end of the month, the beginning of the week, the end of the year, and around holidays.

It is because these are the times when dealerships are more likely to give you discounts, plus you can negotiate your way to a price acceptable to you and the seller.

What cheap car has the best fuel economy?

The 2024 Mitsubishi Mirage is the second cheapest car on this list. But despite its cheap price, this vehicle offers an impressive fuel economy.

With the latest Mitsubishi Mirage, you get about 36 mpg in the city, 43 mpg on the highway, and 39 mpg combined.

So, if frugal and fuel efficiency are your primary marks for the purchase, go with the Japanese automaker Mitsubishi and its Mirage.

Conclusion

Cars are the most needed and safest mode of transportation. One needs a vehicle that serves them well and takes care of their comfort.

Our list of the best cheap cars will help all the car seekers who wish to own a brand-new car but budget is a significant concern for them. All the mentioned cheapest new cars in 2023 come with potent engines, top tech & safety features, and prices you can not ignore.

Ritambra

Ritambra is an absolute car fanatic who loves to drive and write about cars. Explore new car launches, automobile technologies, best car deals and more with entertaining, informative and delightful reading that will surely quench your thirst for automobiles.

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