12 Most Affordable Cars to Own
“What are the cheapest cars to own?” It’s a question we get all the time, especially once it’s time to get down to brass tax. Buying a car is a big commitment, and just about everyone has to go into the experience with a budget in mind. Many car manufacturers understand this, so they try to produce the best cars while also offering reasonable prices. When you’re thinking about the least expensive cars to own, consider all angles, then make the best decision for your wallet.
Best Cost-Effective Cars
Finding the best car for your budget isn’t all about the actual cost of buying the new car. While that’s undoubtedly the top consideration, there are a few more things to think about. For example, which is the cheapest car to run? How can you reduce your spending on things like gas, maintenance, and even insurance?
Buying a cost-effective car means choosing something with useful safety features, an efficient engine, and dependable quality. Those are the things that will save you money down the road. Don’t forget about the long term cost of ownership as you search for the least expensive new car. With that in mind, here are 12 of the most affordable cars to own.
1 – 2021 Chevy Spark
If you’re looking for the cheapest new car, the upfront costs make a big difference. When you buy a car, saving money will leave more in your budget for upgrades, customizations, and other costs down the road. The 2021 Chevrolet Spark might be the most affordable new car on the market because it starts at only $13,400. It’s almost impossible to find a brand new car on a budget this low, especially when you consider how exciting the new Spark is.
This is one of the best city cars you can own, especially if most of your driving is just to run simple errands or make your commute. It can handle tight turns, navigate small spaces, and fit into just about any parking spot. You’ll get good fuel efficiency along the way, with the EPA estimating 38 miles per gallon highway and 30 miles per gallon city.
Even with its small size, the Chevy Spark is built for everything life throws at you. By opting for a four-person seating plan instead of a five-person layout, the Chevrolet designers were able to make the back seat more comfortable for two people. The hatchback design also gives you plenty of flexibility and cargo space to work with.
2 – 2020 Toyota Yaris Hatchback
Here’s another subcompact car that was built for the city. Even the 2020 model is more expensive than the 2021 Chevy Spark, but this is still a decent value at $17,750. Don’t set yourself up for disappointment by expecting this to feel like any other Toyota you’re used to– the hatchback is a collaboration that uses many Mazda design elements.
Hopefully, the collaboration was successful, and this vehicle will last. So far, it seems to handle pretty well and get good fuel economy at an EPA-estimated 35 miles per gallon combined. The biggest knocks against this car are that it lacks cargo space, acceleration, and advanced safety features. Some people still say it’s a good value for the money.
3 – 2021 Chevy Malibu
The 2021 Malibu starts at $22,140, so it certainly isn’t the cheapest on the list. Still, it offers a lot of value because drivers and passengers can enjoy many great features. The comfortable interior, smooth ride, and sporty handling make the new Malibu a very cost-effective car for the price.
Many other value cars just look like they were cheap, but that isn’t the case here. This Chevy sedan has a sleek body, attractive grille, and a variety of available exterior features that can make it look even sharper. It’s made for people who want to drive a tasteful vehicle without blowing the budget.
If you want power, choose the maximum available horsepower of 250. If you’re primarily focused on saving money, stay focused on some of the other things you can get from the 2021 Malibu:
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- Fuel Efficiency – 29 miles per gallon city and 36 miles per gallon highway
- Reliable Chevrolet quality that lasts
- Modern safety and driver assistance features to help prevent accidents
4 – 2020 Chevy Impala
For those who do have a bit more budget, the Chevrolet Impala is a luxurious sedan at a cost-effective price. The $31,620 starting price isn’t what you’d get from some cheaper economy cars, but the quality is worlds different. Professionals and other people who want a swanky status symbol with a reasonable price tag should consider the 2020 Impala.
It’s spacious, sophisticated, and athletic all at the same time. The upscale driving and riding experience is enhanced by state of the art technology. Standard features include an exciting 305 horsepower engine, the smart Chevrolet Infotainment System, and safety features that inspire confidence.
5 – 2021 Nissan Versa
The 2021 Nissan Versa will be released in late 2020 with an estimated starting price of around $15,000. Many reviewers have said the 2020 Versa was a dud, but this one seems much better. Nissan’s past reliability concerns make some drivers notice, and there’s always some uncertainty after a complete redesign like this. Still, the new Versa has two important cost-saving features:
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- The EPA estimates up to 35 miles per gallon.
- The starting price is likely to be one of the lowest available for this model year.
6 – 2021 Chevy Colorado
The 2021 Colorado is one of the most affordable trucks for those who demand a lot from their vehicles, and it starts at $25,200. This is considerably more than you’d pay for a Chevy Spark or Toyota Yaris, but it’s an excellent price for a truck. Since there are so many trim levels and options available, drivers can build the perfect pickup for their needs without paying for many extra features they don’t need.
It’s rugged, strong, and dependable, just like you’d expect from a long-lasting Chevy truck. The interior is also thoughtfully designed, and those who want an even more refined cabin can hand-select the comfort features they want. If you’re asking how to get a great deal on a new truck, you can find the best price by waiting for Truck Month or other Chevy specials.
7 – 2021 Chevy Silverado
Some people come to us when they feel like they’re in a tough spot. They need a truck that can deliver monstrous performances for work or play, but they’re also on a budget. We usually tell those people about the 2021 Silverado that starts at $28,600. You’ll also save at the pump since this massive truck can still get up to 23 miles per gallon city and a whopping 33 miles per gallon highway. The Silverado has its sterling reputation because it’s unbelievably capable.
If you need your budget to get you a hardworking machine, look for this top of the line truck with:
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- 13,300 pounds of maximum available trailering
- 2,280 pounds of maximum available payload
- 89.1 cubic feet of maximum available cargo space
8 – 2021 Hyundai Accent
The starting price of $15,395 makes the 2021 Accent more expensive than some of the other subcompact cars on this list. Still, this small vehicle has some big things going for it. The EPA estimates 39 miles per gallon highway and 29 miles per gallon city for the cheapest SE trim level so that you can save a few extra dollars at the pump. Other excellent features include the 60/40 split-folding rear seatback and small color touchscreen display.
9 – 2021 Chevy Trailblazer
The 2021 Chevy Trailblazer is all-new, and it’s one of the best SUVs for under $20,000. This car’s style and features almost seem too good to be true when considering the starting price of $19,000. Somehow, though, the engineers at Chevrolet pulled a rabbit out of the hat with this one.
The affordable small SUV looks sharp on the inside, and the interior is big enough for a great deal of cargo thanks to thoughtful design features like these:
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- The passenger seat and rear seats all fold flat.
- The second row can be folded with a 60/40 split.
- The maximum cargo volume is 54.4 cubic feet, with a maximum cargo length of 8.5 feet.
- The hands-free liftgate makes everything easier to access when you’re on the go.
10 – 2020 Bolt EV
Going green may cost you a little extra, but this is one of the most affordable electric cars. If you won’t compromise on your commitment to the environment, the Bolt EV can help you ditch the pump without breaking the bank. This completely electric vehicle starts at $36,620. The EPA estimates that the range is now 259 miles, which is plenty for all of your daily driving and even some road trips. Depending on where you live and what incentives you qualify for, you may get some help with the cost. Most importantly, for this cost-effective electric vehicle, you’ll never have to spend a dime on gas.
11 – 2020 Kia Rio
This may be Kia’s best attempt yet to create a hatchback that is both practical and affordable. The five-door design helps drivers maximize the space in this vehicle, and it starts at $16,790. The Rio is fairly stylish, and it doesn’t look as funk as some of the more eccentric vehicles Kia has turned out over the years. You’re not going to be passing many Corvettes in this economy hatchback, but the performance will be enough for most drivers. The cabin comfort and standard features are competitive for the price, too.
12 – 2021 Chevy Equinox
The 2021 Chevy Equinox is one of the best cars in the world at returning value for your dollar. It’s packed with features, it looks great, and the interior has no problem handling an active family or avid traveler’s demands. Even so, it starts at only $23,800. If you’re looking for an affordable car that can keep up with your lifestyle, trust the Equinox to do all of the following and more:
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- Seat five people comfortably
- Come with premium technologies like Chevy Safety Assist, which is standard in the 2021 Equinox
- Offer available all-wheel drive and other performance features
- Fit all of your gear thanks to a maximum cargo space of 63.9 cubic feet
- Get responsible gas mileage, which GM estimates at 26 miles per gallon city and 31 miles per gallon highway
Identifying the Most Cost-Effective Car
When you consider the affordable vehicles above (or any vehicle, for that matter), don’t get stuck on the price alone. A new car’s cost is essential to almost everyone we’ve ever talked to, but finding the most cost-effective vehicle requires you to think about all of the different variables. Beyond the price of each vehicle, you need it to fit your needs. Saving money won’t help you if the vehicle can’t keep up with your lifestyle. Easy maintenance and good fuel efficiency will also save you money on gas and other expenses down the road.
Find the Least Expensive Cars to Own
Valley Chevy dealerships exist to serve people in the Valley of the Sun. We feel a strong connection to this community, and we want to help your dollar stretch further by finding the most affordable cars that meet your needs. You might not even have to search for pre-owned vehicles to meet your budget.
Our staff will always work with you to find the best deals on new cars, and we can even set you up with attractive financing offers. Visit the nearest dealership, and we’ll see how to get a new car on a budget.
