5 Brand New Cars You Can Buy For Less Than $20k

If you're looking to buy a car on a budget, one obvious route is to look for something that is pre-owned. But what if you don't want a used vehicle and prefer something that just rolled off the assembly line with that intoxicating new car smell? Fortunately, there are still a few cars that have a list price under $20,000 — even when they're brand spanking new.

There are some models that hover just over a $20,000 MSRP, such as the Kia Soul and Chevrolet Trax, a subcompact SUV that SlashGear called a "pleasant experience" to drive, "though surprisingly not a dramatic one." If you've set a hard line for yourself and don't want to spend a penny over that amount, you'll still find some new cars with a price tag that starts with a "1." As with the Chevy Trax, you won't find that many bells and whistles coming from vehicles in this price range, and they won't necessarily be the flashiest or fastest cars on the road.

However, that doesn't mean they're lemons, either. With new cars, you can also take advantage of some of the latest technology and advanced features that the automotive industry has developed in the past few years. You might find that some of these options are just as good as their pricier competition. Here is a more detailed look at five brand new cars you can buy for less than $20,000.

In SlashGear's review of the Nissan Versa, we gave the 2023 model an impressive nine out of 10 rating, praising its fuel economy, among other features. We also found that it has "solid handling for a budget machine" and that it had "sufficient power, if not excessive." For a vehicle that costs under $20,000 when new, this is about as good as you can expect.

The Nissan Versa S is the most affordable of the four available trims and starts at just $16,680 — a very reasonable MSRP for a new car in 2024. It's a little less fuel efficient than the costlier trims, though you'll still get 30 mpg combined, or 27/35 mpg when rated for city/highway driving. Its 1.6-liter DOHC 16-valve 4-cylinder engine cab can deliver up to 122 hp at 6,300 rpm and 114 lb-ft of torque at 4,000 rpm. If you want to save money by opting for the Versa S, you'll need to know how to drive stick, as the Versa S comes with a 5-speed manual transmission.

While the Versa S doesn't have as many special features as the other trims, you'll still get some, such as lane departure warning, easy-fill tire alert, hill start assist, rear automatic braking mitigation, and automatic emergency braking with pedestrian detection. It has a decent infotainment system as well, with Bluetooth capability, voice recognition, illuminated steering wheel-mounted audio controls, a NissanConnect 7-inch touchscreen display, and three USB ports for charging you and your passengers' devices.

The Mitsubishi Mirage is one of the cheapest new cars on the market and has a starting MSRP of $16,695. In fact, all five trims in its lineup are under $20,000 — the most expensive option, the two-wheel drive Ralliart, starts at $18,895. Plus, the Mirage can save you even more money in the long term since it has a solid fuel efficiency of 39 combined mpg (36/43 city/highway).

Part of the reason the subcompact is so cheap is that it doesn't really have much going for it under its hood. Its 73 cc 1.2-liter three-cylinder engine generates a measly 78 hp at 6,000 rpm and 74 lb-ft at 4,000 rpm. According to Car and Driver, it takes nearly 11 seconds to go from zero to 60 mph. However, for the money you're spending, you'll get a five-seat hatchback with versatile rear seats that can allow you to customize how much cargo space or interior space you need for a given situation.

You should note though that by saving money by buying a new Mitsubishi Mirage, you may be sacrificing some safety features, as the Mirage topped the list of vehicles with the highest driver fatalities compiled by the Insurance Institute for Highway Safety (IIHS) in 2023. Considering the Mirage was joined by other subcompacts at the top of this list, this likely has more to do with the vehicle's size than any other factor.

If you're looking for a brand new car that's less than $20,000 and also desire an SUV, that's going to limit your options pretty severely. However, Hyundai has you covered with the 2024 Venue. In SlashGear's review of the Hyundai Venue, we praised the "aggressive pricing" of the 2021 model, which still remains in 2024 — the SUV starts at $19,900. We also highlighted its "perky" engine and "spacious cabin with unexpectedly high safety tech levels." The 1.6-liter 4-cylinder DPI engine can produce up to 121 hp and the safety features include forward collision-avoidance assist with pedestrian detection, lane keeping assist, and driver attention warning. Since the Venue is on the smaller side, you also get a fairly fuel efficient SUV that is rated at 31 mpg combined (29 city/33 highway).

All these specs and safety functions apply to the 2024 Hyundai Venue SE, which is the only one of the three available Venue trims that starts under $20,000. While it lacks some premium features — such as a Drive Mode Select that includes Sport and Snow modes — it's still a solid vehicle that also has some style to it. The standard trim comes in seven different color options, including white, black, silver, dark gray, dark red, blue, and green apple. An 8-inch color touchscreen display also comes standard with the Venue SE's infotainment system, which is compatible with both wireless Android Auto and Apple CarPlay.

For some cars that cost under $20,000, this only applies to the most basic trim, while upgrading certain features will put it over that mark. However, for the 2024 Nissan Versa, three of its four trims are available under this price point. The priciest of these three is the Nissan Versa SV, which starts at $19,970. Like the other trims in the lineup, it's a front-wheel drive sedan that has a 1.6-liter DOHC 16-valve 4-cylinder engine cab that generates up to 122 hp at 6,300 rpm and 114 lb-ft of torque at 4,000 rpm. It has the same suspension and tires as the most basic trim, the Versa S, though its wheels are aluminum rather than steel and have a flashier machined look with painted accents. It's also different from the Versa S in that it doesn't come standard with a manual geartrain and instead sports Nissan's Xtronic Continuously Variable Transmission (CVT).

Other features the Versa SV has that the Versa S lacks include an optional dashcam and cabin camera, blind spot warning, intelligent driver alertness, and rear cross traffic alert. Its interior is also a little nicer, featuring premium cloth seat material, 60-40 rear seat folding, an additional LCD monitor for your infotainment system, and wireless charging for your devices.

While it's pricier than the Nissan Versa S, it's more fuel efficient and could save you money in the long run, which is likely an important factor if you're on a budget and looking for a vehicle under $20,000. It's rated 32/40 mpg for city/highway driving, giving it a 35 mpg combined that's five more miles per gallon than the combined rating for the Versa S.

In SlashGear's review of the Kia Forte GT, we said that the vehicle offered "turbo fun on a budget that's hard to beat." The bad news is that the cheapest 2024 Kia Forte trim — and the only one that's under $20,000 — doesn't have a turbocharged engine. The good news, however, is that this trim — the LX — is actually several thousand dollars cheaper than the affordable GT and still has plenty of other great features that come standard.

This includes an intelligent variable transmission and a 2-liter 4-cylinder engine that, while not turbocharged, still delivers an impressive 147 hp and 132 lb-ft of torque, as well as a 34 EPA-estimated combined mpg (and 30/41 city/highway mpg). Safety features include lane following assist, lane keeping assist, auto emergency braking technology, driver attention warning, and rear occupant alert. Other notable conveniences that come with the trim are power-adjustable side-view mirrors and remote keyless entry. Inside the compact sedan is a rear-view monitor with dynamic parking guidance, two front USB ports, and an 8-inch touchscreen display that's compatible with Apple CarPlay, Android Auto, and hands-free connectivity with Bluetooth.

The Forte LX also comes with auto headlight control with high beam assist and sports 15-inch steel wheels with full covers. Another downside to opting for the most basic (and most affordable) version of the 2024 Kia Forte is that your color options are limited to just white, gray, or black. However, by saving thousands by going with this under-$20k trim, at least you won't be seeing red the next time you check your bank account.