Buy Brand New Car Cheap
The cheapest cars for 2022 start at just under $15,000, although shoppers can expect to find fewer vehicle choices in this price range than in the past. A shift toward more expensive SUVs has made it increasingly difficult to find a cheap new car.
buy brand new car cheap
In some cases, manufacturer incentives can make some cars a better deal than others. Here's a roundup of the cheapest cars you can buy heading into 2022, with insider information on factors that may help you get the best deal possible.
With an MSRP of $14,595 including destination, the 2022 Spark remains the cheapest car you can buy in the United States. Sadly, that only gets you an entry-level model with a manual transmission. Configured with a CVT transmission, the MSRP increases to $15,695 before factoring in any dealer discounts or incentives.
When the Chevy Sonic was discontinued, the jump in price to the next car in the lineup increased significantly. For reference, 2022 Malibu pricing starts at $24,395, a difference of $9,800 compared to the cheapest Spark. Alternatively, you may want to consider a 2022 Chevrolet Trax crossover, which starts at $22,595.
The cheapest Mitsubishi Mirage starts at $16,125 with a manual and offers the best fuel economy of any gas car. According to the EPA, the Mirage hatchback offers up to 43 mpg on the highway, 36 mpg in the city, and 39 mpg in overall driving. However, the 1.2L engine may not offer drivers the power they may be looking for.
The latest version of the Nissan Versa has an MSRP of $16,055 with destination and remains the brand's cheapest car. The downside is that the Versa with the lowest price comes with a manual transmission. If you prefer the optional CVT configuration, the cost of the entry-level Versa S sedan increases to $17,725.
At that point, the cost of the Versa is just over $2,000 more expensive than the Spark. However, the Versa does have a major advantage by offering standard automatic emergency braking (AEB), lane-departure warning, and 10 airbags, even on the cheapest trim. This could make the Versa a better overall value.
The 2022 Rio has an MSRP of $17,145 and is Kia's cheapest car model. While this value-priced sedan may seem attractive, driver assistance technology is only optional starting with the more expensive S trim ($17,785). Having said that, Kia does offer one of the best new car warranties at 10 years or 100,000 miles.
The 2022 Hyundai Accent has a base price of $17,670 for the cheapest SE trim and presents a compelling value. That's a little over $500 more expensive than the Rio, although standard automatic emergency braking (AEB) is only standard when choosing the range-topping Limited trim ($20,625).
Even though the Accent is Hyundai's cheapest car, we tend to find that the larger Elantra sedan (MSRP $20,875) can actually be a better deal. Whether it's lower financing rates, larger rebates, or better lease deals, you may find an opportunity to choose an upgrade for less money than you think.
Chevy discontinued the Spark. So Nissan's subcompact Versa is now the cheapest new car sold in America. It's not thrilling. It's not fancy. But it's known for delivering solid ride quality for its price point and earning 40 mpg on the highway. Nissan gave the Versa a facelift for 2023.
It may be difficult to save up the amount of money needed to purchase a new car at a dealership. However, there are plenty of used car dealers that have cheap vehicles well within a lower price range. If you can wait to make your car purchase until you have saved up the entirety of the asking price, you can save yourself a lot of money.
While they may not be as common as they used to be, vehicles with manual transmissions are still being made every day. You can benefit from this by purchasing a manual vehicle at a lower price. Whether you are looking for a new or used car, the standard version is almost always going to be cheaper than the automatic version.
If you are not picky about the kind of car you want to buy, auctions have some of the best car prices available. Whether they are police auctions or government institutions, you will be able to find incredibly cheap cars. Many of them will be name-brand economy cars by automakers like Toyota, Honda, and Hyundai.
One of the ways you can keep your options open but also get the car you want is to shop for vehicle types instead of brands. While you might want a Ford or Kia, you may be able to get the same kind of vehicle made by another automaker. The wider you can keep your search, the more likely you will be to find a great deal.
In general, used cars are cheaper than new cars. But both have increased dramatically in price over the last few years. New car payments have jumped from a monthly average of $554 in 2019 to $667 in 2022, an 18.5% difference. Used cars also saw a drastic jump from $391 on average to $515, a 27.4% difference.
Multiple costs are often cheaper when you buy a used vehicle rather than a new one. Everything from the price of car insurance to dealer fees will be less expensive when you buy a used vehicle. Depending on the vehicle you choose, the purchase price will also typically be less for a used car.
Gap insurance promises to cover any gap between the purchase price of replacing your almost-new car with a brand-new car if your regular insurance doesn't pay for full replacement if your car gets totaled. Van Alst says gap insurance is often overpriced and is fundamentally problematic. If you still want the product, it's best to obtain it through your regular insurance company, not the dealer.
He acknowledges that which car you buy matters and that it's a good idea to read reviews and ratings about which brands and models are more or less likely to run into costly repair problems down the road. He says some European cars are famously expensive to maintain.
As you can see, some states can be cheaper for certain car buying costs and more expensive for others. For example, Alaska has some of the lowest sales taxes, but the highest used car prices and dealer fees.
Source: Kelley Blue BookAverage New Car Price by MakeYou'll also find big price differences based on the vehicle's manufacturer. Some brands market more budget-friendly models while others are more luxury-focused. Here's how KBB breaks down the average new car price for the top nine manufacturers and their makes.
Regardless of what your credit score looks like right now, take some time to get your credit ready to buy a car by checking your score, reviewing your credit report and addressing potential issues that could make it difficult to get approved for favorable terms.Decide if a New Car Makes Sense for YouBuying a brand-new car can be an exciting prospect, especially if you've only ever driven used vehicles. However, it's a good idea to take some time to consider both the benefits and drawbacks of a new car before you start shopping around.Pros and Cons of a New CarDriving a new car means you'll get access to the latest technology and features. Also, you'll have fewer worries about your car breaking down, and you'll have a manufacturer's warranty included if it does. In terms of financing, new cars are generally cheaper than used cars.
The insurers with the lowest average costs among our Cheap Car Insurance Companies of 2023 rating offer inexpensive policies that may make sense for a broad range of motorists. According to our analysis, these insurers have the cheapest annual rates on average:
These three companies consistently offer some of the cheapest annual rates on average, including policies to fit specific needs, such as for a teenager or for a driver with a blemish on their driving record like a speeding ticket or traffic accident. Our rating provides information to help identify the cheapest car insurance for you. Remember that shopping around and comparing quotes is the surest way to find cheap car insurance that best suits your needs.
The least expensive insurance in our study of cheap car insurance companies is offered by USAA, which sells car insurance policies only to members of the U.S. military, pre-commissioned officers, veterans, and their spouses and children. In addition to having the lowest annual rates on average, USAA also has the cheapest rates for low- and high-mileage drivers and in most other categories included in our analysis of insurers.
Excluding USAA, Geico has the cheapest car insurance coverage for motorists with clean driving records, as well as for those seeking minimum coverage and for higher-mileage drivers. The company also offers the cheapest average rates for male teenage drivers.
State Farm offers the cheapest car insurance for senior drivers, female teenagers, and low-mileage drivers. State Farm also has the cheapest rates for drivers seeking full coverage. Motorists with a speeding violation, traffic accident, or DUI on their record also will find State Farm has the cheapest rates on average.
American Family Insurance is another option for cheap car insurance for teen drivers, with average annual rates of $3,550 and $3,769 for female and male teen drivers, respectively, both well below the national averages.
Senior drivers enjoy some of the cheapest car insurance rates among groups included in our analysis. For drivers ineligible for USAA membership, State Farm offers the lowest annual average rates for seniors, based on our data.
To find the cheapest car insurers in each state, we analyzed car insurance rates for drivers across the country. The rates provided here are simple averages taken from representative driver profiles, so the amount you pay for car insurance will differ. It's important to note that our data may not include all the states each company operates in and that insurance premiums can vary by state. Even within the same state, rates can vary between ZIP codes.
The cheapest car insurance rates in our study are offered by USAA. The company's car insurance products are available exclusively to its members, which are composed of U.S. military personnel, pre-commissioned officers, veterans, and their spouses and children. 041b061a72