The average transaction price of a new car has slowly been coming down since it peaked during the pandemic, but it’s still scarily close to $50,000. That might work for rich people, but most people can’t afford to spend that kind of money on a car. The good news is, even though you can’t get a new car for less than $20,000 anymore, you can still get a lot of value for your money for less than $25,000.
If you’re looking for an affordable new car, though, you don’t want to just buy the cheapest thing on the lot. Instead, our friends over at Consumer Reports put together a list of the 10 “cheap” cars it actually recommends. Even better, some are selling — on average — for less than MSRP. Let’s take a look at what made the list.
The Kia Forte probably isn’t going to knock your socks off with its refinement, but you can forgive a lot when you see the $21,145 price tag (including destination). If you get a Kia Forte LXS, it’s also selling below MSRP. Seven dollars isn’t a lot, but hey, any kind of savings counts.
The Nissan Sentra doesn’t start quite as cheap as the Kia Forte, but it’s still pretty affordable starting at $22,730 including destination. Consumer Reports also found that Nissan Sentra SVs are selling for $292 less than MSRP.
If you don’t want a sedan, that’s totally understandable and also where the Hyundai Venue comes in. It’s a practical subcompact crossover that only costs $21,295 to start. Sadly, there’s enough demand for the Venue that people are paying an average of $750 over MSRP for Venue SEL.
Buick’s built a solid little crossover called the Envista that starts at $23,995 including destination. Expect to pay about $320 over MSRP for an Envista Preferred, though.
It’s the Corolla. It’s reliable and good on gas, and that’s basically all you need to know. It just works, and Toyota’s only charging $23,145 for it. That said, Consumer Reports found that Corolla LEs are selling for $833 over MSRP.
Nissan just introduced the redesigned Kicks, but don’t sleep on leftover first-generation models. They start at $22,385, and while CR found people are paying an average of $628 over MSRP, once the new models hit dealer lots, expect that to change.
The Elantra is Hyundai’s version of the Kia Forte, but while they have a lot in common mechanically, Hyundai chose to position the Elantra slightly upmarket. As a result, it starts at $22,775. The downside is that people are paying an average of $422 over MSRP for the Elantra SEL.
Do you like the Toyota Corolla but wish it could haul more stuff? Look no further than the Toyota Corolla Hatchback, which Consumer Reports also recommends. It’s slightly pricier than the sedan, starting at $24,725. On average, though, people are paying $523 over MSRP on Corolla Hatchback SEs.
It’s not quite as trendy as the Crosstrek, and it’s not going to be as sporty as the WRX, but if you just want a good hatchback for daily driving that can handle poor weather conditions, it’s hard to beat the Subaru Impreza. It also starts at $24,115 including destination, and on average, people are paying $489 less than MSRP for an Impreza Sport.
With destination, a base Mazda 3 does crack the $25,000 mark, although at $25,135, it’s only barely over. Also, the 3 is a fantastic car that really should be more popular than it is. It’s the most fun to drive in the entire segment, and you can also get good deals on them. Consumer Reports found that people are paying $135 less than MSRP for a 2.5 S Select Sport.
