It’s safe to say that right now is a challenging period to buy a car, whether new or from the used market. According to industry analysts, new vehicle sales are down over 14%, and prices are up 15.4% compared to the first quarter of 2021, thanks to a supply issue. Although the situation showed a positive recovery at the start of 2022, automakers are still crippled by a storm of production disruptions amid the continuing semiconductor shortage.
Automakers have tried to step in with incentives like cash back specials and financing offers, but the new vehicle shortage has left shoppers with few expensive options. As a result, vehicles on the lower end of the price spectrum suddenly feel like more attractive deals. If you’re willing to skip all the bells and whistles, here are some of the cheapest cars you can buy for, 2022. Quoted prices are MSRP, exclusive of handling and destination charges, tax, title, license, and options; thus, dealer prices vary.
10 Nissan Sentra – $19,610
The Nissan Sentra is a solid and stylish option in the compact-car segment, loaded with comfortable passenger accommodations and a great suite of standard active safety features. Although it’s devoid of any driving verve that will knock your socks off, the 2022 Sentra assures safety, having featured in the 2022 IIHS Top Safety Pick.
For 2022, the Sentra is available with only a 149hp 2.0-liter four-cylinder engine paired to a continuously variable automatic transmission and front-wheel drive. Trim choices include S, SV, and SR, but the cheapest way into a 2022 Sentra is through the base model, available at $19,610 MSRP.
9 Kia Soul – $19,290
The Kia Soul, a 2021 IIHS Top Safety Pick, still flaunts the iconic boxy exterior styling that most people have come to love about the multi-talented SUV. Beneath its funky design, the Soul rewards owners with comfort, next-level versatility, roomy interior, spacious cargo area, and an impressive technology package.
Engine options for the 2022 Kia Soul include a base 147hp 2.0-liter four-cylinder paired with a CVT and a 201hp turbocharged 1.6-liter four-cylinder with a seven-speed automatic transmission. Buyers can choose between LX, S, X-Line, GT-Line, EX, and Turbo trims, but the cheapest option is the LX starting at $19,290 MSRP.
8 Hyundai Venue – $19,000
The Hyundai Venue is a compact SUV built to tackle the urban jungle and dart through city traffic, equipped with impressive styling, the latest tech, and a host of standard driver assists. The 2022 Venue is small and funky on the outside yet surprisingly spacious inside, with quality furnishings abound.
The Venue’s strongest selling point is the $19,000 MSRP, making it the cheapest crossover sold in the U.S. and arguably one of the best values on the market. Whether you choose the SE, SEL, or Limited trim option, every 2022 Venue features a 121hp four-cylinder engine with a CVT.
7 Kia Forte – $19,090
The Kia Forte might not be the top of its class, but it still boasts handsome looks, is well-equipped even in its base form, and features in the 2021 IIHS Top Safety Pick. The sleek and sporty 2022 model offers redesigned styling and impressive equipment that’s undeniably reminiscent of the Stinger sports sedan.
The Forte is available in two different powertrain options: a 147hp 2.0-liter four-cylinder and a 201hp turbocharged 1.6-liter four-cylinder. Trim options include FE, LXS, GT-Line, GT, and GT Manual, but the FE will save you money with a starting MSRP of $19,090.
6 Subaru Impreza – $18,795
With a playful driving character, comfortable yet practical interior, convenient technology, admirable versatility, and standard symmetrical wheel drive, the 2022 Subaru Impreza is a great choice in its class. Part of the Impreza’s appeal stems from it being the longest-lasting vehicle in its class, having been an IIHS Top Safety Pick for 14 years running.
Even more impressive, Subaru offers its smallest vehicle in hatchback and sedan body styles, starting at an affordable $18,795 MSRP. The only engine option available is a 152hp direct-injection four-cylinder boxer engine, available with either a manual or CVT in base, Premium, Sport, or Limited trims.
5 Kia Rio – $17,190
While others have abandoned the segment, the Kia Rio is now better than you’d expect of a regular subcompact; fuel-efficient, surprising driving sophistication, and great value for money. The 2022 Rio houses a 120hp 1.6-liter inline-four engine paired with a CVT, available in both sedan and hatchback offerings.
The sedan is available in LX, and S trims, starting at $16,250 MSRP. But if you prefer better passenger volume and more cargo space, the five-door S hatchback is still affordable, starting at $17,190 MSRP.
4 Hyundai Accent – $16,645
The Hyundai Accent is the perfect embodiment of a cheap car that looks anything but cheap, flaunting a head-turning style that’ll make you look forward to daily driving. Nonetheless, the interior is uninspiring but functional, complemented by modern conveniences and some luxury options.
All 2022 Hyundai Accent models feature a 120hp Smartstream 1.6-liter four-cylinder engine, and CVT is the transmission offered after Hyundai sadly dropped the six-speed manual. Trim options include SE, SEL, and Limited, with the cheapest variant starting at $16,645 MSRP.
3 Nissan Versa – $15,180
The Nissan Versa is not just handsome; it offers a smooth ride, sleek interior design, intelligent technology, and impressive fuel efficiency. Although segment alternatives are better to drive, the Versa offers more driver assists than most, making it a great option for drivers who care more about comfort and safety.
Every Versa features a 122hp 1.6-liter four-cylinder with Xtronic CVT, while an optional five-speed manual is available in the base model. Nissan offers the Versa in S, SV, and SR trims, with the cheapest model starting at $15,180 MSRP.
2 Mitsubishi Mirage – $14,465
The stylish yet dramatically styled Mitsubishi Mirage could be criticized for its somewhat cramped and low-quality interior. Still, it’s also deceptively roomier than the G4 sedan, boasting a versatile cargo space. You’ll be disappointed if you look forward to driving satisfaction, but you’ll be hugely pleased with its remarkable turning radius and class-leading fuel economy.
The Mirage hatchback has a severely underpowered 78hp 1.2-liter three-cylinder paired with a five-speed manual in the base model and CVT in other trim levels. Mitsubishi restructured the trim package to include the ES, LE, Black Edition, and SE, starting from $14,645 MSRP.
1 Chevrolet Spark – $13,600
A new car at the price of a used one. How about that for cheap? Although the Chevy Spark wears the crown as the most affordable new car on the market, its slow highway speed and a pitifully cramped rear quarter are the worst things you could say about it.
Unfortunately, Chevy decided to discontinue the Spark after the 2022 model year, so enjoy the simplicity while you still can. The 2022 Spark features a puny four-cylinder engine that offers the best driving experience when fitted with the five-speed manual. A CVT is optional across the LS, 1LT, ACTIV, and 2LT Chevrolet Spark trim levels.
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