In a market where the cost of new vehicles is steadily climbing, finding an affordable option can seem like a daunting task. However, amidst the sea of high-priced automobiles, there's a glimmer of hope for budget-conscious buyers. The Mitsubishi Mirage stands as a testament to affordability, being the sole new car that retains a price point under $20,000.
According to a recent report from Kelley Blue Book, the automotive industry's authoritative source for vehicle pricing information, the Mitsubishi Mirage has managed to maintain its status as the only new car with an average purchase price below $20,000. This is a remarkable feat, given the ongoing trend of escalating vehicle costs. While other new cars might flaunt starting prices under the $20,000 mark, the final purchase price, when accounting for additional options and shipping, frequently surpasses this budget-friendly threshold.
In the month of July, the average transaction price for a Mitsubishi Mirage was recorded at $19,205, making it an appealing option for those seeking both economy and value. This figure underscores the Mirage's commitment to remaining an accessible choice for a wide range of consumers.
Contrastingly, a mere year ago, in July 2022, there were a handful of vehicles available for purchase under $20,000. However, the landscape has evolved, and these options have dwindled. Popular small vehicles like the Kia Rio, Nissan Versa, Hyundai Venue, and Nissan Sentra—while boasting initial prices that appear affordable—ultimately cross the $20,000 threshold when all factors are considered. As the Kelley Blue Book report indicates, Americans, on average, paid approximately $48,000 for a new vehicle in the same period.
For those determined to stay within a strict budget, here's a glimpse at five new cars with the lowest average purchase prices in the United States:
- Mitsubishi Mirage: Average Price - $19,205
- Kia Rio: Average Price - $20,157
- Nissan Versa: Average Price - $20,763
- Hyundai Venue: Average Price - $23,971
- Nissan Sentra: Average Price - $23,994
Source: USA Today
