20 Most Affordable Cars to Buy in America in 2023
In this article, we will be taking a look at the 20 most affordable cars to buy in America in 2023. If you are not interested in reading the details, head straight to the 5 Most Affordable Cars To Buy In America In 2023.
Factors to Consider When Buying an Affordable Car
When it comes to buying an affordable car, there are several factors that you should consider before making a decision. One of the most important factors is the condition of the vehicle. You want to ensure that the car you are buying is in good condition and will last you for many years.
Another essential factor to consider is the price of the vehicle. You want to ensure you get a good deal and not overpay for the car. In 2022, the average price of a new vehicle in the United States was approximately $48,681.
Fuel efficiency is another crucial factor to consider when buying an affordable car. According to the Environmental Protection Agency, the average fuel economy of vehicles sold in the United States in 2020 was 24.9 miles per gallon (MPG) for combined city/highway driving. Finally, you should consider the safety features of the car. You want to ensure that the vehicle you choose has all the necessary safety features to keep you and your passengers safe while on the road. The senior consumer advice editor and content strategist at Edmunds, Ronald Montoya, said:
"Think about your actual needs, how long your commute is, how much you have to carry, and if you actually enjoy driving and might want something sporty. Avoid overbuying – you can probably get by with a smaller vehicle for most of your needs, and just rent something bigger once or twice a year, when you really need it."
Electric and Hybrid Options on a Budget
If you're in the market for a new car and want to consider electric or hybrid options on a budget, you're in luck! There are more options than ever before for eco-friendly vehicles that won't break the bank. One option is the Nissan Leaf. Another option is the Toyota Motor Corporation (NYSE:TM)'s Prius C, known for its affordability and fuel efficiency.
The Ford Motor Company (NYSE:F)'s C-Max Energi is another excellent option. the Ford Motor Corporation (NYSE:F)'s C-Max Energi has a plug-in hybrid system allowing electric-only driving for short distances. The CEO Jim Farley was optimistic about Ford's trajectory when it comes to the EV industry. He made the following comments in a company's capital market meeting in May, 2023:
"But clearly, this transition to EVs is dynamic and so much more than just a change in propulsion. The number of global entrants is increasing even at the high end and the pricing pressure has dramatically increased in the past 60 days. Despite these puts and takes, we have confidence in the underlying trajectory of Ford’s business. Our portfolio of businesses is strong, thanks to businesses like Pro and Blue, and we are raising our estimated EBIT guidance this year to $11 billion to $12 billion.
Operationally, we continue to be focused on capital discipline, solid returns even as we face uncertainties in the external environment. Supply chain disruptions are persistent, but they’re now easy. And we have more work to do to streamline our industrial system, reducing costs and improving quality. While EV adoption is still growing, the paradigm has shifted. EV price premiums over internal combustion vehicles fell more than $3,000 in the second quarter and nearly $5,000 in first half. We expect the EV market to remain volatile until the winners and losers shake out, and we are confident from a brand, from our incredible product strategy, our software, our scale and our cost position, we will be one of the winners long term."
Remember to consider tax incentives and rebates that may be available for purchasing an eco-friendly vehicle. With so many options available, making a responsible and budget-friendly choice for your car is easier than ever.
Dynamic Changes in Auto Industry Trends and Sales Projections for 2023
As we approach 2023, the auto industry is undergoing fascinating changes in sales trends. The surge in new car purchases can be attributed to the allure of cutting-edge technology and advanced features in the latest models.
In October 2022, TrueCar forecasted a 15% growth in total new vehicle industry sales, reaching 1,165,658 units, similar to September when adjusted for selling days. The seasonally adjusted annualized rate (SAAR) for light vehicle industry sales is estimated at 14.6 million units, a 13% increase from October 2021. Excluding fleet sales, U.S. retail deliveries of new cars and light trucks are expected to be 995,808 units, up 9% from last year but down about 2% from September 2022.
However, the growing demand for cars and the ongoing automotive semiconductor shortage are causing a decline in used vehicle inventories. Consequently, both used and new vehicle prices are expected to rise shortly. This shift in the marketplace adds excitement to the automotive industry landscape.
Photo by Ethan Currier on Unsplash
Our Methodology
For our methodology, we have ranked the most affordable cars To Buy in America in 2023 based on their starting base prices. We've obtained the data for number of units sold for some of these cars from Car Figures.
Here is our list of the 20 most affordable cars to buy in America in 2023.
20. 2023 Honda Civic Sport Sedan
Starting base Price: $27,444
The 2023 Honda Motor Co., Ltd. (NYSE:HMC)'s Civic Spot Sedan is eagerly anticipated for its sleek design, advanced features, and fuel efficiency and stands first among the most affordable cars to buy in America in 2023. It offers a standard 158-hp 2.0-liter four-cylinder engine and an optional 180-hp turbocharged 1.5-liter four-cylinder, with front-wheel drive and a CVT. Warranty coverage is average, with complimentary scheduled maintenance for two years or 24,000 miles. Honda Motor Co., Ltd (NYSE:HMC) sold 111,108 Civic units in 2023, based on data from Car Figures.
19. 2023 Mazda 3
Starting Base Price: $23,715
The 2023 Mazda 3 is one of the best affordable cars in 2023 which offers a superb driving experience, featuring a sleek design, advanced safety tech, and SKYACTIV Technology for balanced performance and fuel efficiency. Engine choices include a base 2.5-liter four-cylinder and a quick turbocharged 2.5-liter. The base sedan is the most fuel-efficient at 28 mpg city and 37 mpg highway, while the turbocharged hatchback with all-wheel drive is less efficient at 23 mpg city and 31 mpg highway. Mazda sold 18,121 units of the 3 in 2023.
18. Ford Maverick
Starting Base Price: $23,690
The 2023 Ford Maverick shines with its 40 mpg highway fuel efficiency, versatile towing of up to 4,000 pounds, and advanced safety features like adaptive cruise control and lane departure warning. It offers a lively 250-hp 2.0-liter four-cylinder base engine with optional all-wheel drive and a hybrid version with a 2.5-liter four-cylinder and electric motor (front-wheel drive and CVT). The standard warranty doesn't include complimentary scheduled maintenance. In 2023, Ford Motor Company (NYSE:F) sold 56,047 Maverick units.
17. 2024 Buick Envista
Starting Base Price: $23,495
The 2024 Buick Envista is a standout vehicle with impressive design and innovative features. Its advanced safety technology ensures passenger safety, including automatic emergency braking and lane departure warning. The car boasts a peppy 136-hp turbocharged 1.2-liter three-cylinder engine and responsive handling. Fuel efficiency is estimated at 28 mpg city and 32 mpg highway. Inside, it offers a roomy cabin for four and modern tech features. Warranty coverage is standard, with a three-year/36,000-mile limited warranty and a five-year/60,000-mile powertrain warranty, but it falls short compared to competitors like Hyundai's Kona.
16. 2023 Mini Hardtop Classic 2-Door Hatchback
Starting Base Price: $23,400
The 2023 Mini Hardtop Classic 2-Door Hatchback, one of the most affordable cars to buy in America in 2023 is set to be a stylish, reliable, and fun-to-drive car, perfect for city streets and commutes. Expect it to come loaded with advanced technology and safety features, offering drivers connectivity and safety on the road. The base model features a 1.5-liter turbocharged three-cylinder engine, producing 134 hp and 162 lb-ft, providing a respectable 0-60 mph time of 7.6 seconds and fuel economy starting at 29/38 mpg city/highway with the automatic transmission.
15. 2023 Hyundai Kona
Starting Base Price: $22,140
The 2023 Hyundai Kona is set to remain popular thanks to its sleek design, advanced safety, and fuel efficiency. It offers two powertrains: a 147-hp four-cylinder with a six-speed auto and a 195-hp turbo-four with a seven-speed dual-clutch for better performance. Sales figures show a 28.95% YoY decrease from 2021 to 2022, with 63,994 sold in 2022, and 90,069 in 2021.
14. 2023 Chevrolet Trailblazer
Starting Base Price: $22,100
The 2023 Chevrolet Trailblazer is a versatile SUV known for its safety features and efficiency. It offers two turbocharged three-cylinder engines: a 1.2-liter and a 1.3-liter, with the latter providing more power. The 1.3-liter offers optional all-wheel drive, improving acceleration but not overly fast. Warranty coverage is average, with a three-year/36,000-mile limited warranty and a five-year/60,000-mile powertrain warranty. Chevrolet sold 61,808 Trailblazers so far in 2023.
13. 2023 Toyota Corolla LSE Sedan
Starting Base Price: $21,550
The 2023 Toyota Motor Corporation (NYSE:TM)'s Corolla LSE Sedan is a top-class vehicle known for its smooth ride, sleek design, and excellent fuel efficiency. It has advanced safety features, a spacious interior, and modern technology, making it perfect for families or those seeking comfort and convenience. Equipped with a 169-horsepower 2.0L Dynamic Force four-cylinder engine, it offers improved performance and quicker acceleration compared to its predecessor with a 1.8L engine. This reliable and stylish Toyota Motor Corporation (NYSE:TM)'s sedan is sure to exceed your expectations.
12. 2023 Hyundai Elantra
Starting Base Price: $20,950
The 2023 Hyundai Elantra is poised to maintain its reputation as a reliable and affordable option in the compact car market while introducing updates to its technology and safety features, enhancing its appeal. It offers a range of powertrains, including a 2.0-liter four-cylinder with 147 horsepower, a turbocharged 1.6-liter engine producing 201 horsepower, and hybrid variants. Fuel efficiency varies, with the hybrid achieving 53 mpg city and 56 mpg highway. Hyundai offers a generous 10-year/100,000-mile powertrain warranty and three years or 36,000 miles of complimentary maintenance. In July 2023, Hyundai sold 11,898 Elantra units.
11. 2023 Volkswagen Jetta
Starting Base Price: $20,665
The 2023 Volkswagen Jetta, one of the most affordable cars to buy in America in 2023 impresses with its sleek design and robust 1.5-liter turbo-four engine, producing 158 hp and 184 lb-ft of torque. It offers a choice between a six-speed manual and an optional eight-speed automatic transmission, accelerating from 0 to 60 mph in 7.1 seconds in the SEL trim. Its infotainment system supports Apple CarPlay, Android Auto, gesture controls, and a mobile hotspot. Standard driver-assistance features are included, with advanced options available. Volkswagen provides In Q2 2023, 11,650 Jetta units were sold.
10. 2023 Nissan kick
Starting Base Price: $20,440
The 2023 Nissan Kicks can excel by emphasizing fuel efficiency and eco-friendliness to align with the growing interest in electric and hybrid vehicles, especially among younger buyers. Prioritizing advanced safety features like lane departure warning and automatic emergency braking appeals to safety-conscious consumers. Additionally, offering customizable interiors and ample storage adds practicality. The well-built, user-friendly interior with adult-friendly rear seats and generous cargo space stands out. Standard safety features include automated emergency braking and lane-departure warning, with optional adaptive cruise control. In 2023 so far, Nissan has sold 29,802 Kicks units.
9. 2024 Chevrolet Trax
Starting Base Price: $20,400
To excel with the 2024 Chevrolet Trax, one of the best affordable cars in 2023, prioritize improving fuel efficiency, embracing sleek modern design, emphasizing advanced safety features, exploring hybrid/electric options, and enhancing user-friendly technology. The 2024 Trax features a 137-hp 1.2-liter turbo engine, six-speed automatic, and front-wheel drive with an EPA-estimated 28 mpg city and 32 mpg highway. In 2022, Chevrolet sold 26,598 Trax units, down 37.55% from 2021's 42,590 units.
8. 2023 Nissan Sentra
Starting Base Price: $20,050
The 2023 Nissan Sentra is highly anticipated for its sleek design, advanced features, and impressive fuel efficiency. It features a 149-hp 2.0-liter four-cylinder engine with a CVT automatic transmission. While it's not the fastest in class, it offers a comfortable and compliant ride for daily commutes. Fuel efficiency is estimated at up to 29 mpg in the city and 39 mpg highway. Inside, it boasts an attractive design with a 7.0-inch display and comfortable zero-gravity seats. In Q2 2023, Nissan sold 34,938 Sentra units.
7. 2023 Kia Soul
Starting Base Price: $19,890
The 2023 Kia Soul prioritizes fuel efficiency to attract eco-conscious buyers, possibly by introducing hybrid or electric options. Incorporating advanced safety features like lane departure warning and automatic emergency braking would appeal to safety-conscious consumers. Offering customizable exterior and interior options would enhance personalization. The Soul currently features a 2.0-liter four-cylinder engine, producing 147 hp, with a CVT automatic transmission. In 2023, Kia sold 39,870 Soul units, a notable drop from 56,740 in 2022 and 75,126 in 2021, marking a 24.47% YoY decrease.
6. 2023 Subaru Impreza
Starting Base Price: $19,795
The 2023 Subaru Impreza, one of the best affordable cars in 2023, is expected to maintain its reputation for reliability and efficiency, likely incorporating tech and design upgrades. The Impreza's 152-hp engine and standard all-wheel drive offer a balanced driving experience. Fuel efficiency varies with the transmission, favoring the CVT option. While lacking style, the interior impresses with a user-friendly design, soft-touch materials, and comfortable seating. In 2023, Subaru sold 22,091 Impreza units, a decline from 30,846 in 2022 and 34,791 in 2021, marking a 11.34% YoY loss.
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Disclosure. None: The 20 Most Affordable Cars To Buy In America in 2023 is originally published on Insider Monkey.