2023 Nissan Versa Review: Budget New Car Punches Well Above Its Price Tag

Looking at any given dealer lot today, you wouldn't be wrong for thinking the only things new for sale are trucks, SUVs and crossovers, plus some EVs here and there. And when it comes to finding cheap transportation that's fresh out of the factory, that's easier said than done. The average new vehicle price in 2023, per Kelly Blue Book in July of 2023, was $48,334. That can put you in anything from a well-equipped Ford Bronco Sport, a mid-tier Volkswagen ID4, or a base Lexus RC... if you have the finances to handle it.

Of course, there are options out there for those with smaller budgets seeking a new ride, like the immensely popular Ford Maverick, the all-new Chevrolet Trax, and the Nissan Versa. That's right. The Nissan Versa, one of the remaining budget rides anyone can buy new (or lease), as well as one of the few subcompact cars available for sale in the United States. 

For most people, the name recalls a funky-style hatchback that was just there on the road or on the used lot, or that one chunky sedan hanging out in the office park's parking lot. That image changed in 2019 when the current-gen Versa arrived as a slick-looking sedan (no hatch in sight), which received a new face for the 2023 model year. Nissan recently sent an example in the SR trim level to spend a week with me in Southwestern Virginia.

Demonstrating the "versatility" of the Versa name (which Nissan said in 2008 press release was short for "versatile space"), the automaker applied it to three other Nissan models repackaged for life in the United States over the course of nearly two decades. The first-generation sedan and hatchback were based on the first-gen Tilda, built on the Renault-Nissan B platform underpinning the Nissan Cube, Nissan Juke and Renault Clio. Nissan then split the Versa into two product lines for the second-generation model: the sedan was based on the third-generation Almera, the hatchback — now the Versa Note — was based on the second-generation Note hatchback.

The third-gen Versa — debuting in 2019 for the 2020 model year — continued on with the fourth-gen Almera sedan on the Renault-Nissan Alliance's Common Family Module (CFM) B platform, leaving the hatchback life behind entirely. This new, sedan-only Versa also shed its dowdy looks behind for the third go-around, taking its styling cues from the Maxima, Altima, and Sentra. 

Three trim levels were available at its showroom debut: S, SV and SR. The 2023 facelift removed the bent chrome grille bar from the face of the subcompact sedan, replacing it with Nissan's new "V-motion" blacked-out waterfall grille accented with chrome flowing down from the headlights, as well adding the company's new branding front and rear. That change seemed to work out for the Versa, garnering a "Best in Class" award in J.D. Power's 2022 U.S. Automotive Performance, Execution and Layout (or, APEAL) Study.

No matter which trim level you choose, there is one engine available for the 2023 Nissan Versa: the HR16DE 1.6-liter inline-four. The all-aluminum party hosts 122 horsepower and 114 lb.-ft. of torque within its plastic engine-coverless confines; the "Z"-branded ignition coils are a neat nod to Nissan's most popular sports car, the Z (although they could also be sideways Ns). Those who wish to shift their own will need to make do with the base S trim level (from $15,980), the only trim to have a five-speed manual. Otherwise, the latest version of the automaker's Xtronic CVT — the Jatco-built CVT7 WR JF020E — handles power delivery duties for all three trim levels.

Cameron Aubernon/SlashGear

The CVT funnels the power party to the open road exclusively to the front pair of 17-inch aluminum alloy wheels wrapped in a set of Continental ContiProContact all-season tires. The 17-inch wheels are exclusive to the SR trim level, giving the Versa just a bit more sporty curb appeal; they also remind me of a similar set of wheels used by Pontiac for its third-gen Firebird Formula in the 1980s. It also hustles to 60 mph in the same amount of time as the old 'Bird, taking a leisurely 10 seconds to get up to speed with the rest of the interstate traffic. A pair of 10-inch vented discs bring the party to a halt up front, while 8-inch drums drop the beat in the back.

The 2023 Nissan Versa SR may have a low price of admission, but what's behind the inline-four will give you the most bang of each buck you spend. For starters, there's an 8-inch touchscreen tucked into the center console above the physical HVAC controls, packed with Apple CarPlay and Android Auto (which the base S trim level lacks unless the optional S Plus Package is installed into its 7-inch touchscreen), a Wi-Fi hotspot, and Nissan's own NissanConnect Services, which lets you control certain parts of your Versa SR with your iPhone or Pixel. The SR also allows you to charge your phone wireless, though there is no wireless CarPlay or Android Auto to allow the driver to truly live the cord-free life. And though the gauge cluster is a bit spartan, it does its job informing the driver of everything they need to know.

Cameron Aubernon/SlashGear

All trim levels of the Nissan Versa include a ton of safety and driving features that just a few years before were optional at best at this price range, including tire pressure monitoring (the SV and SR have individual tire monitoring), automatic braking, and lane departure warnings. The SV adds blind-spot monitoring and rear cross-traffic alert, while the top-of-the-line SR throws in adaptive cruise control. To make things comfortable and convenient for all, the SR also has automatic climate control, heated front seats, automatic high beams, remote engine start, and SiriusXM radio. And the best part of all of this? No subscriptions aside from SiriusXM, and plenty of physical controls for the HVAC, radio, and navigating the infotainment system.

The 2023 Nissan Versa's interior truly shines with the SR trim level. The front buckets and rear 60/40 bench are trimmed in red and black cloth with red stitching that carries over into the doors and dashboard. The aforementioned buckets also get a small patterned insert with white striping down the center. The driver's bucket has six ways of adjustment, while the front passenger must settle for four. 

To equalize things, though, all adjustments are manual, including the under-seat bar to move the seats back and forth; it is a budget ride, after all. While my mom thought the seats were a bit too hard, I found them quite comfortable during the week I had the Versa SR. The rear passengers will have 31 inches of leg room to work with, though plenty more room for the shoulders at 53.6 inches compared to the front occupants' 53.1 inches.

Cameron Aubernon/SlashGear

Your groceries and luggage will also be quite comfortable in the third-gen Versa, thanks to a cavernous trunk space with low lift-over into the depths within the sedan's backside. The 60/40 rear bench gives all trim levels 15 cu. ft. of room for all of life's adventures, though the S trim's standard fixed bench knocks some space off to just 14.7 cu. ft. With the split bench folded down, longer items like skis, carpets and whatever you bring home from IKEA can come with you without needing to get a trailer or roof rack. Those who miss the Versa and Versa Note hatchbacks will find a suitable replacement with the new sedan-only model, or move on to Nissan's crossovers.

Sporty exterior styling with an interior to match, yet possessing power that won't blow the doors off anyone at the stop light? That is the way of the third-generation Nissan Versa, especially with its 2023 model year facelift. The SR trim livens things up with chrome and sporty 17-inch wheels, but the real fun was found taking the subcompact sedan on my usual loop between my home and Draper Valley Overlook near Pulaski, Virginia. Getting onto the interstate wasn't too dramatic, partly due to light traffic, partly due to a long transition from the street to I-81 South. Once on the highway, the Versa cruised all the way down like a champ.

Cameron Aubernon/SlashGear

After stopping for a bit to take photos at the overlook, the drive down the mountain onto U.S. 11 back home was a nice experience. The sport-tuned suspension — consisting of front independent struts, rear torsion beam, and a full set of twin-tube shocks — and stiff chassis made driving along the curves leading up to and down from the overlook a breeze. The overall drive netted me the highest MPG this tester had seen yet, coming out to 49 mpg even. The rest of the time brought the average down to around 30 mpg due to tons of in-town driving; the EPA estimate on the 2023 Nissan Versa SR is 32 mpg city, 40 mpg highway, 35 mpg combined.

Finding a fun car new is hard these days. Finding such a thing on a budget is harder still, especially as more automakers dive further into the crossover/SUV/truck boom and the growing EV market. Yet, Nissan is one of the few who've delivered on an economically friendly machine with the third-gen Versa. The 1.6-liter inline-four's fuel economy, its demands for only regular-grade fuel, the SR's sporty wheels and the sedan's overall styling, room for five and everyone's luggage, great handling and excellent road manners, all adds up to a combination that will please most people looking for their first all-new car.

Cameron Aubernon/SlashGear

Starting at $15,980 for the base S with the five-speed ($17,650 with the CVT), $19,270 for the SV and $19,970 for the SR, the 2023 Nissan Versa is definitely one of the best buys you can make for a new vehicle right now. Our example's as-tested price of $22,460 with destination, $880 electronics package, $270 carpeted floor mats and $395 Scarlet Ember paint still don't damage the bank account. 

That as-tested price places our Versa SR between the base MSRPs of a base Kicks S ($20,790) and a base Rogue Sport S ($24,960), and just above the base MSRP of the 2024 Sentra S ($20,630). The third-generation Nissan Versa is the subcompact sedan that let's everyone have their cake and eat it, too, with none of the traditional econobox penalties to ruin the party.