Follow us today...
According to a recent Consumer Reports newsletter update on the lowest price you can expect to pay on a new car:
“The cheapest cars in America can be found by looking at transaction prices—what people are actually paying—rather than looking at just the window stickers.”
What Cars Are the Cheapest to Buy Right Now?
Fortunately, CR analysts are watching the market closely and trying to find the makes and models that will provide new car shoppers with good, solid, and reliable cars without having to go into serious car debt.
“To help members find the best car at the lowest cost, we have analyzed the average transaction price for new cars using national data from TrueCar, a CR partner, and sorted all models based on their selling price. We then selected 10 models to highlight that are recommended by CR, meeting our stringent standards for road-test performance, owner satisfaction, reliability, and safety,” stated CR automotive experts.
“This month, nine of the 10 featured models (Buick, Hyundai, Kia, Mazda, Nissan, Subaru, and Toyota) are selling for more than their sticker prices.”
Which is the Cheapest and Most Reliable Model?
From CR’s list you will find amongst the recommended models, “…those models ranked based on the transaction price—not the MSRP—starting with the cheapest model, at $20,937. Because we’re citing actual figures, we list the specific configuration. Other versions of the featured models often carry relatively similar pricing, with the same percentage above or below the MSRP,” states the recent newsletter update.
10 CHEAP CARS THAT CR RECOMMENDS THIS AUGUST
1.2024 Kia Forte $20,937
Price Range: $19,990 - $25,390
CR MPG: Overall 34 / City 22 / Hwy 49 mpg
#14 of 18 Compact cars
Recommended model: 2024 Kia Forte LXS IVT
Average transaction price: $20,937
Average spent over MSRP: $447
MSRP: $20,490
2. 2024 Nissan Sentra $22,217
Price Range: $21,180 - $24,270
CR MPG: Overall 32 / City 22 / Hwy 44 mpg
#15 of 18 Compact cars
Recommended model: 2024 Nissan Sentra SV CVT
Average transaction price: $22,217
Average spent over MSRP: $107
MSRP: $22,110
3. 2024 Toyota Corolla $22,688
Price Range: $22,050 - $28,340
CR MPG: Overall 36 / City 24 / Hwy 51 mpg
#8 of 18 Compact cars
Recommended model: 2024 Toyota Corolla LE CVT
Average transaction price: $22,688
Average spent over MSRP: $638
MSRP: $22,050
4. 2024 Hyundai Venue $22,695
Price Range: $19,900 - $23,150
CR MPG: Overall 32 / City 23 / Hwy 41 mpg
#2 of 5 Subcompact cars
Recommended model: 2024 Hyundai Venue SEL IVT
Average transaction price: $22,695
Average spent over MSRP: $795
MSRP: $21,900
5. 2024 Buick Envista $23,219
Price Range: $22,400 - $28,600
CR MPG: Overall 29 / City 21 / Hwy 39 mpg
#5 of 7 Luxury entry-level cars
Recommended model: 2024 Buick Envista Preferred
Average transaction price: $23,219
Average spent over MSRP: $819
MSRP: $22,400
6. 2024 Hyundai Elantra $23,846
Price Range: $21,625 - $35,200
CR MPG: Overall 33 / City 21 / Hwy 49 mpg
#9 of 18 Compact cars
Recommended model: 2024 Hyundai Elantra SEL IVT
Average transaction price: $23,846
Average spent over MSRP: $271
MSRP: $23,575
7. 2024 Nissan Kicks $24,047
Price Range: $21,340 - $23,900
CR MPG: Overall 32 / City 24 / Hwy 40 mpg
#1 of 5 Subcompact cars
Recommended model: 2024 Nissan Kicks SV FWD
Average transaction price: $24,047
Average spent over MSRP: $847
MSRP: $23,200
8. 2024 Toyota Corolla Hatchback $24,105
Price Range: $23,505 - $26,805
CR MPG: Overall 36 / City 24 / Hwy 51 mpg
#12 of 18 Compact cars
Recommended model: 2024 Toyota Corolla Hatchback SE CVT
Average transaction price: $24,105
Average spent over MSRP: $600
MSRP: $23,505
9. 2024 Subaru Impreza $24,639
Price Range: $22,995 - $27,885
CR MPG: Overall 29 / City 19 / Hwy 42 mpg
#6 of 18 Compact cars
Recommended model: 2024 Subaru Impreza Sport AWD
Average transaction price: $24,639
Average spent under MSRP: $356
MSRP: $24,995
10. 2024 Mazda 3 $24,794
Price Range: $24,170 - $36,650
CR MPG: Overall 30 / City 20 / Hwy 44 mpg
#4 of 18 Compact cars
Recommended model: 2024 Mazda3 2.5 S Select Sport FWD
Average transaction price: $24,794
Average spent over MSRP: $104
MSRP: $24,690
For a more detailed breakdown of the data, please visit the CR website. Note that while access to some information requires a CR membership, the potential savings make it negligible in comparison when looking for the latest information to aid your car buying research.
Popular Cars That Are the Worst to Buy
In case you are not looking for the cheapest new cars to buy and are willing to pay top dollar for the more popular makes and model, here is an apt warning titled “Car Makers Got Bad Review Removed by Going After YouTube Sponsors” that you should pay especial attention to before shopping for a new car.
For more CR-related car shopping help, here are three useful ones with car shopping advice for consumers:
- Consumer Reports’ Best Deals on 10 Fuel-Efficient Cars and SUVs
- "You May Spend So Much Repairing These Cars That You Could Have Bought a Newer Model" - Used Cars to Avoid Warns Consumer Reports
- The Reality Of Modern Car Repair is Why You Should Consider Buying an Older Used Model
Timothy Boyer is an automotive reporter based in Cincinnati. Experienced with early car restorations, he regularly restores older vehicles with engine modifications for improved performance. Follow Tim on Twitter @TimBoyerWrites and Facebook for daily news and topics related to new and used cars and trucks.
COMING UP NEXT: Best Labor Day Car Deals 2024 Reveals Consumer Reports
Image Source: Deposit Photos
Follow us today...
