This article has been updated for the 2024 new car model year. Each year, I enjoy researching and ranking the cheapest new cars sold in the US market and sharing my findings. Transportation expenses account for 2nd highest household expense category in the U.S., with most costs stemming from vehicle purchase or leasing agreements. With 60% of Americans living paycheck-to-paycheck lives, finding an economical ride is essential when budget constraints exist. This article presents a ranking of the 10 cheapest new cars of 2024, as measured by their lowest MSRP for base automatic transmission models (I have also included factory invoice prices in case negotiations need to occur with dealers). You may also be interested in my ranking of most fuel-efficient and least costly electric vehicle models.
If you’re shopping for a new car, keep an eye out for models from prior model years as you could potentially score an even better deal. Dealers are trying to clear out previous year inventory so they can concentrate on selling new 2024 models; you could find even greater discounts. In most cases, 2024 versions are the identical models as their prior year counterparts.
As a vehicle consumer, I make efforts to limit my usage but remain somewhat dependent on one. As an automotive market watcher and vehicle consumer, it’s interesting to follow what trends are popular now as well as any cost/fuel-efficiency gains made over time – there’s value in knowing what options may be worth exploring now or further down the line.
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