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According to a recent Consumer Reports newsletter update on the lowest price you can expect to pay on a new car, lower-priced models are not untouched by the current market and giving new car shoppers sticker shock when they discover that they will have to pay premium prices that reach $1,000 or more to the MSRP of the least expensive new models available today. Which is why it helps to find out what car buyers are actually paying right now with this recent update from CR analysts.
Doing the Work for You
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.
Despite the lower transaction prices, all models listed, “…meet CR’s stringent standards for road-test performance, owner satisfaction, reliability, and safety from the list.”
What You Will Find from the List
From CR’s list you will find amongst the recommended models:
- This month, nine of the 10 featured models are selling for more than their sticker prices.
- Prices range from a low of $19,795 to a high of $35,330,
- The average above MSRP cost is $1,010.
10 Cheap Cars That CR Recommends
1. Toyota Corolla 2023 $22,867
Price Range: $21,700 - $27,425
CR MPG: Overall 36 / City 24 / Hwy 51 mpg
#4 of 16 Compact cars
Recommended model: 2023 Toyota Corolla LE CVT
Average transaction price: $22,867
Average spent over MSRP: $1,167
MSRP: $21,700
2. Nissan Kicks 2023 $23,642
Price Range: $20,590 - $23,150
CR MPG: Overall 32 / City 24 / Hwy 40 mpg
#1 of 6 Subcompact cars
Recommended model: 2023 Nissan Kicks SV FWD
Average transaction price: $23,642
Average spent over MSRP: $1,192
MSRP: $22,450
3. Subaru Impreza 2023 $24,005
Price Range: $19,795 - $27,395
CR MPG: Overall 30 / City 21 / Hwy 41 mpg
#5 of 16 Compact cars
Recommended model: 2023 Subaru Impreza Premium CVT
Average transaction price: $24,005
Average spent over MSRP: $810
MSRP: $23,195
4. Toyota Corolla Hybrid 2023 $24,190
Price Range: $21,700 - $27,425
CR MPG: Overall 48 / City 37 / Hwy 59 mpg
#1 of 16 Compact cars
Recommended model: 2023 Toyota Corolla Hybrid LE
Average transaction price: $24,190
Average spent over MSRP: $1,140
MSRP: $23,050
5. Toyota Corolla Hatchback 2023 $24,389
Price Range: $23,155 - $26,580
CR MPG: Overall 36 / City 24 / Hwy 51 mpg
#12 of 16 Compact cars
Recommended model: 2023 Toyota Corolla Hatchback SE CVT
Average transaction price: $24,389
Average spent over MSRP: $1,234
MSRP: $23,155
6. Mazda 3 2023 $24,420
Price Range: $22,550 - $35,300
CR MPG: Overall 30 / City 20 / Hwy 44 mpg
#6 of 16 Compact cars
Recommended model: 2023 Mazda3 2.5 S Select
Average transaction price: $24,420
Average spent over MSRP: $470
MSRP: $23,950
7. Volkswagen Jetta 2023 $24,903
Price Range: $20,655 - $28,385
CR MPG: Overall 34 / City 21 / Hwy 54 mpg
#10 of 16 Compact cars
Recommended model: 2023 Volkswagen Jetta SE
Average transaction price: $24,903
Average spent over MSRP: $518
MSRP: $24,385
8. Hyundai Elantra Hybrid 2023 $26,605
Price Range: $24,550 - $29,150
CR MPG: Overall 48 / City 40 / Hwy 55 mpg
Recommended model: #9 of 16 Compact cars
2023 Hyundai Elantra Hybrid Blue DCT
Average transaction price: $25,605
Average spent over MSRP: $1,055
MSRP: $24,550
9. Kia Soul 2023 $25,695
Price Range: $19,890 - $24,190
CR MPG: Overall 28 / City 21 / Hwy 35 mpg
#11 of 16 Compact cars
Recommended model: 2023 Kia Soul EX IVT
Average transaction price: $25,695
Average spent over MSRP: $1,505
MSRP: $24,190
10. Nissan Altima 2023 $26,318
Price Range: $25,630 - $35,330
CR MPG: Overall 31 / City 20 / Hwy 45 mpg
#4 of 11 Midsized cars
Recommended model: 2023 Nissan Altima 2.5 SV
Average transaction price: $26,318
Average spent under MSRP: $113
MSRP: $26,430
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.
For more CR-related car reviews, here are three useful ones with car shopping advice for consumers:
- Best Used Vehicles for $15,000 to $20,000 Recommended by Consumer Reports
- Popular Midsized SUVs to Avoid and What to Buy Instead Recommendations from Consumer Reports
- Used Compact Cars with the Best Fuel Economy Recommended by Consumer Reports
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 “Zen and the Art of DIY Car Repair” website, the Zen Mechanic blog and on Twitter at @TimBoyerWrites and Facebook for daily news and topics related to new and used cars and trucks.
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