Tight budget? Edmunds highlights the least expensive cars and SUVs for 2024

The average transaction price for a new vehicle was $46,992 in the first quarter of this year, according to Edmunds transaction data. That’s out of reach of a lot of car shoppers. While buying a used vehicle can be a more affordable alternative, there’s understandably a lot of appeal to buying new and getting a full factory warranty. So what are the cheapest cars and SUVs out right now? The car experts at Edmunds rounded up five possible options. The following vehicles are ordered by their starting price, including the destination fee.

Nisan Versa

The most affordable vehicle in the market — albeit by $20 — is Nissan's subcompact sedan. That low price is for the base S trim level with a five-speed manual transmission. If you want an automatic transmission, it will cost you an extra $1,670. Standard features include a 7-inch touchscreen display, cruise control, and a few advanced driver aids like front and rear automatic braking and lane departure warning. That's pretty good but you need to add the S+ package or get the midlevel SV trim for Apple CarPlay and Android Auto smartphone integration.

The little Versa is a solid choice for a car. It's very fuel-efficient and comfortable, and it drives well and has a large trunk for its size. But as with most affordable cars, it has sluggish acceleration.

2024 Versa starting price: $17,820

Mitsubishi Mirage

The Mirage hatchback is the least expensive car with an automatic transmission, but we don't recommend it. The Mirage wasn't a good car when it was introduced 10 years ago, and it's essentially the same car in 2024. Its underpowered and noisy engine results in very slow acceleration. In addition, its interior is chintzy, build quality is poor, and lots of noise and vibration enter the cabin while driving.

On the plus side, the little Mitsubishi is fuel-efficient and has a long warranty. Standard features on the base ES model include a 7-inch touchscreen display, Apple CarPlay and Android Auto smartphone integration, and front automatic emergency braking. The Mirage G4 is the sedan version that costs $1,100 more.

2024 Mirage starting price: $17,840

Kia Forte

With the subcompact Rio discontinued last year, the Forte is now Kia's most affordable car. As with most Kias, the compact sedan offers a lot of value. The base LX trim comes equipped with an 8-inch touchscreen display, Apple CarPlay and Android Auto smartphone integration, and a few advanced driver aids including lane departure mitigation. For another $1,000, we'd go for the LXS trim level with the Technology package for the added advanced driver aids and upgraded wheels and interior.

The Forte also boasts a sizable trunk and offers lots of available tech features. It's also fuel-efficient and has a great warranty. However, the Forte's rear seats are small and its ride can sometimes feel uncomfortably stiff over bumps.

2024 Forte starting price: $21,145

Hyundai Venue

The Venue is currently the least expensive SUV you can buy, just barely beating out the Chevy Trax. It's a subcompact SUV with a relatively small interior. All-wheel drive isn't available. And as with most lower-priced vehicles, acceleration is leisurely.

On the upside, the base SE trim level comes generously equipped with alloy wheels, an 8-inch touchscreen display, Apple CarPlay and Android Auto smartphone integration, and a few advanced driver aids such as lane departure mitigation. The Venue is comfortable, provides ample cargo space for most, and has a practical and well-laid-out interior with an easy-to-use infotainment system.

2024 Venue starting price: $21,295

Chevrolet Trax

The Trax is larger than the Venue and offers a lot for the money. Its 2024 redesign made it significantly better than the previous Trax. It provides roomy seating in both rows and has more cargo space than most rivals. Its interior is well designed and offers some of the best tech features on the list. All-wheel drive isn't available, but otherwise you're getting a pretty compelling and inexpensive vehicle.

The base LS trim's standard features are similar to the ones found in the Venue and Forte. It also has wireless connectivity for Apple CarPlay and Android Auto. If you can afford another $2,000, we recommend the LT trim that adds several more features including an impressive-looking 11-inch touchscreen and a digital instrument cluster.

2025 Trax starting price: $21,495

Edmunds Says

Mitsubishi Mirage. If these vehicles are still outside of your budget, consider a used or certified pre-owned vehicle, but they typically have higher interest rates.

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This story was provided to The Associated Press by the automotive website Edmunds.

Michael Cantu is a contributor at Edmunds.