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If you’ve seen car prices over the past couple of years, you know that price tags have been inflated for new and used vehicles. The average new vehicle price remains over $48,000, which represents a 4.4% increase compared to a year ago. Thankfully, you can still find new cars under $20,000.
U.S. News & World Report lists vehicles priced under $20,000. The publication scored the new cars based on a zero-to-10-point scale, with 10 being the best possible score.
The publication compiled the list of vehicles based on their U.S. News overall score, which takes into consideration the following attributes:
Money expert Clark Howard expects car prices to drop over the course of this year, which is good news for our wallets. Until that time, you might be interested in these cars under $20K.
| Make and Model | Overall Score | Starting Price |
|---|---|---|
| 2023 Hyundai Elantra | 8.0 out of 10 | $20,500 |
| 2023 Nissan Kicks | 7.8 out of 10 | $20,290 |
| 2023 Mitsubishi Mirage | 5.0 out of 10 | $16,245 |
| 2022 Nissan Sentra | 7.5 out of 10 | $19,950 |
| 2023 Subaru Impreza | 7.5 out of 10 | $19,795 |
| 2023 Hyundai Venue | 7.6 out of 10 | $19,500 |
| 2023 Kia Rio | 7.8 out of 10 | $16,550 |
| 2022 Hyundai Accent | 7.9 out of 10 | $16,645 |
| 2022 Nissan Versa | 7.9 out of 10 | $15,180 |
| 2023 Kia Forte | 8.0 out of 10 | $19,490 |
| 2023 Kia Soul | 8.5 out of 10 | $19,790 |
As car values remain high on the vast majority of new cars, Clark wants you to jump into this crazy car market only if you absolutely have to.
Otherwise, until prices start to go down, he suggests that you keep the car you have and make any needed repairs.
If you must buy a vehicle, Clark remains a big fan of buying used cars because the first owner will take the brunt of the depreciation in the first few years.
“I’ve had an obsession forever about why buying a used vehicle is so much better for your wallet than buying new,” Clark says. “For most people, buying used is going to be a much better choice.”
This post was last modified on January 17, 2023 4:35 pm
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