You work hard for your money. You don’t want to pay thousands of dollars in car repair bills each year and suffer financially because of the car you were talked into by the car salesman at the dealership. For many people, value and budget is the most important part of shopping for a car. Value-oriented people ask themselves questions like: “is it reliable?” or “is it expensive to repair?” If this is you, then this list is what you’ve been looking for! We will look at 5 of the cheapest new cars of 2020 and critique them based on performance, reliability, and driveability to provide you with the best value for the lowest price!
2020 Toyota Yaris
The 2020 Toyota Yaris is the most expensive vehicle on our list which isn’t saying much. With an MSRP of $17,750, the build quality and standard features in the 2020 Yaris are surprising! Edmunds gave the 2020 Toyota Yaris a 7.4 out of 10. While not a staggeringly good score, it is not surprising seeing its sub-$20,000 price tag.
The 2020 Toyota Yaris has a surprising amount of features for its price.
There are three different trim levels: L, LE, and XLE. Each trim level, except XLE, comes with the option of a standard or automatic transmission, and each come standard with forward collision warning, low-speed automatic braking systems, AppleCarPlay and Android Auto, USB ports, Bluetooth and a six-speaker sound system. The 2020 Toyota Yaris also has a combined highway and city fuel economy of 35 mpg. Edmunds recommends to just go with the L-level trim as the upgrades from trim-to-trim are all convenience and don’t add anything to the overall experience of the Yaris.
As stated before, the 2020 Toyota Yaris is the most expensive car on this list. The main issue with the 2020 Toyota Yaris is a lack of cargo space and power. If this is a make or break for you, I would suggest you keep reading. Otherwise, the 2020 Toyota Yaris balances a great list of standard features coupled with a sub-$20,000 price tag. This makes the Yaris difficult to beat as far as value and makes it one of the best value picks for the cheapest cars of 2020!
2020 Hyundai Accent
The 2020 Hyundai Accent is the second most expensive car on our list. With an MSRP of $15,195, the Hyundai Accent beats the Yaris by almost $2,000 in price! Edmunds gives the 2020 Hyundai Accent as 7.2 out of 10. Very similar to the Yaris in terms of the quality of the build, the Accent outclasses the Yaris in terms of space and headroom. It also has an excellent warranty and better gas mileage than the Yaris with an average 36 mpg in combined city and highway driving!
The 2020 Hyundai Accent is cheaper but foregoes performance at the expense of the discount.
When comparing it to the Yaris, the 2020 Hyundai Accent is lacking in terms of performance and overall handling while receiving the same score in many other aspects as the Yaris. The Accent does have slightly more cargo space, so once again it comes down to personal preference and what you are looking for in a vehicle.
Seeing how close the 2020 Hyundai Accent came to the score of its competitor, the 2020 Toyota Yaris, the Accent is definitely a great value for it’s price and features. If you value fantastic gas mileage, cargo space, and an overall utilitarian edge to your vehicles, the 2020 Hyundai Accent would be the smart choice, not to mention it is $2000 cheaper than the 2020 Toyota Yaris making it a great candidate for one of the best and cheapest cars of 2020!
2020 Nissan Versa
For years, the tagline for the Nissan Versa was “the cheapest car in America!” Nissan forgoed their title as the cheapest car to add some upgrades to the 2020 model of the Nissa Versa. All-in-all, it helped create a much better vehicle than in years passed! The 2017 Nissan Versa went for $12,825 in comparison to the 2020 Versa with an MSRP of $14,730. Despite this price increase, the Nissan Versa is still one of the cheapest cars of 2020 and provides great value despite this price increase.
The 2020 Nissan Versa used to be the cheapest vehicle you could buy. We’re glad that Nissan revamped the Versa and maybe a pretty decent commuter car for under $15,000!
Other things that have changed when compared to its previous self, the 2020 Nissan Versa is more powerful with 122 hp, 13 more than its predecessor, standard electronic features like power windows, power locks, keyless entry, and push-button start all come standard with the lowest trim level of the 2020 Nissan Versa. Edmunds does not have a score for the 2020 Nissan Versa as of the writing of this article, but commend it on it’s above average mpg rating, decent-sized cargo space, and reasonable price for its standard safety features.
While the 2020 Nissan Versa is a bit more expensive than its predecessors, Nissan wisely decided to make a better vehicle rather than being prideful of their position as manufacturer of the “cheapest car in America.” These upgrades benefit performance, safety, cargo space, and fuel economy. Of course there are still the drawbacks of driving a small car; such as limited headroom and legroom, and a lack of space for storage within the car. All-in-all, the 2020 Versa is an affordable, and capable compact car that provides plenty of value for it’s sub-$15,000 price tag.
2020 Mitsubishi Mirage
The 2020 Mitsubishi Mirage is the second cheapest car on our list. Unfortunately, its MSRP of $13,995 still doesn’t make it worth buying the Mirage in comparison to its more expensive competitors. It received a 5.7 out of 10 on Edmunds.com and has some pretty significant drawbacks that its competitors don’t.
The 2020 Mitsubishi Mirage is disappointing overall. No power, cheap build quality, and incites the fear of it blowing up at highway speeds.
According to Edmunds, the overall build quality of the 2020 Mitsubishi Mirage is poor to say the least. This is to be expected when large car manufacturers attempt to pump out thousands of cheap, disposable cars. The biggest issue is that driving it at highway speeds seems to be the very limit of the vehicle. Its 78 horsepower engine is under-powered and driving the Mirage to its absolute limits doesn’t bode well for its longevity. On top of that, the engine sounds like its about to explode as you accelerate. Road noise is also very obnoxious at higher speeds. The only positives to the Mirage is its impressive 39 mpg fuel economy and it’s rather impressive warranty.
Out of any car on this list, the 2020 Mitsubishi Mirage might be the least worth the money. The warranty is nice, but isn’t your commute bad enough without the stress of possibly blowing up your engine? Or the stress of being honked at as you sluggishly accelerate up the on-ramp to the highway? Yes, the Mirage is cheap but there is a experiential aspect of cars that the Mirage just can’t meet. The overall value of the Mirage is just that, a mirage.
2020 Chevrolet Spark
We’ve finally arrived to the cheapest car on our list, the 2020 Chevrolet Spark! This little subcompact Chevy still has plenty to offer despite it’s low MSRP of $13,220! There are some great features included in even the most basic LS trim level. It includes air conditioning, a rear back-up camera, a 7-inch touchscreen, Android Auto and Apple CarPlay, Bluetooth, USB ports, and a four-speaker audio system. The 2020 Chevrolet Spark doesn’t have a rating by Edmunds yet but has many more pros than cons. This is a feat not often accomplished by vehicles with such a low MSRP.
The 2020 Chevrolet Spark is a lot better than it has any right to be.
The price point of the 2020 Chevy Spark makes it a great option for anyone looking to buy a new car that is not completely bare-bones. Every trim level of the Spark has the features mentioned above and then some. The 1LT is the recommended trim level from Edmunds because it balances the increase in price and the convenience of the additional modern features. There are drawbacks to the Spark, such as it’s limit of passenger legroom and slow acceleration. You expect these things though when purchasing a subcompact car that’s under $15,000 brand new!
The 2020 Chevrolet Spark’s pros far outweigh its cons. If you are someone who wants a new car but you don’t want to be in debt for longer than necessary, the Spark would be a great choice. It has a balanced mix of features for the price and is significant value for someone looking for an inexpensive vehicle. The 2020 Chevrolet Spark is a definite contender for the best, inexpensive car for 2020!
What Is the Best of the Cheapest Cars of 2020?
Deciding the best of the cheapest cars of 2020, balancing the price with features each includes is key. If you are anything like us, it may have been surprising to see what $15,000 could buy you as far as a new vehicle. We think that if your absolute budget limit is $20,000 and under, the 2020 Toyota Yaris would be the best choice. It balances safety, technology, handling, and performance in an unexpected way for a vehicle under $20,000. This shouldn’t come as a surprise as Toyota is known for their dependable, and driveable vehicles that often come at a relatively inexpensive price tag.
If your budget is around $20,000, the 2020 Toyota Yaris is your best choice.
If your budget is lower, around $15,000, you are unlikely to do better than the Chevy Spark or the Nissan Versa. The main deciding factor between these two comes down to: is your commute in the city or do you have to take a highway to get work? If you live in the city and spend most of your time driving around busy city streets, the 2020 Chevrolet Spark would be better. It’s lack of oomph is better suited for the city, as well as its extra trunk space and better gas mileage. If you have to commute using a highway, we recommend the 2020 Nissan Versa. The Versa has a little bit more power that shouldn’t have an issue staying and getting up to highway speed.
If you live in the city and your budget is $15,000 or less, we recommend the 2020 Chevrolet Spark.
If you commute via highway and your budget is $15,000 or less, we recommend the 2020 Nissan Versa.
Feeling Ripped Off?
If you’re feeling ripped off after reading this article, you have every right to! There are surprisingly decent new vehicles out there for everyone’s budget! So if you’re ready to get a new car, go over to cashforcars.com/get-an-offer/! Sell your problematic junker and take that cash and get one of the cars we mentioned above! CashForCars.com makes it easy with free pickup, a guaranteed quote, and the best offer you could get for your car! See how much you could get from CashForCars.com!
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Want to Read More?
Check out our next blog post about the family cars you should look into buying and which ones you should in avoid in 2020! Our picks might not be what you expected!
Check out our previous blog post about the pros and cons of getting your car a new paint job or getting it vinyl wrapped! The reasons for each are surprising!
Thanks for reading!