In 2023, the hunt for the cheapest cars is intensifying as the average car prices soar. Just a decade ago, acquiring a new car at around $30,000 was the norm. Fast forward to today, and the average price has skyrocketed by 60%, sitting at a substantial $48,500. Despite this surge, there’s still hope for budget-conscious buyers. Below, we unveil a list of the cheapest cars, trucks, SUVs, and EVs this year, offering a variety of economical options for every type of motorist.

Cheapest Cars on the Market: 2023’s Affordable Finds

Nissan Versa: The Cheapest Car in 2023

Starting Price: $17,075 with destination fees

Fully Loaded Price: $23,000+

For those searching for the cheapest cars in 2023, the Nissan Versa stands out as a prime candidate with a starting price of only $16,825. This shockingly affordable vehicle boasts a 5-star safety rating and an impressive 35 MPG, making it not only economical but also safe and efficient. The 2023 Nissan Versa is shockingly affordable, even when compared to sub-compact competitors. Plus, the Versa is all-around better rated than the #2 cheapest car in America, the Mitsubishi Mirage (starting at $17,450).

See Nissan Versa listings with local market data and negotiability scores.

Cheapest Crossover SUV

Hyundai Venue: Bargain Crossover SUV

Starting Price: $20,985

Fully Loaded Price: $24,235+

So you’re in the market for a new crossover, but refuse to pay a dollar over $20,000? The 2023 Hyundai Venue might be the last new SUV with an MSRP under $20,000, but even the required delivery fees push it over the top. At a starting price of $20,985 with delivery, this is the cheapest crossover on sale. The cargo volume of the Hyundai Venue is just 32 cubic feet with the back seats folded, which is less than half of what you get with the larger Hyundai Tucson and Santa Fe. 

Although the Hyundai Venue is technically the most affordable SUV/crossover, the only true SUV benefits you get are a rear hatch instead of a trunk and a higher ceiling for hauling. 

Fuel economy is merely okay at 29 city / 33 highway, and NHTSA safety ratings are average at 4-starts overall.

See Hyundai Venue listings with local market data and negotiability scores.

Cheapest Hybrid Sedan

Toyota Corolla Hybrid: Economical and Cheap

Starting Price: $24,395 with destination fees

Fully Loaded Price: $29,593+

47 miles per gallon for under $25,000? Wow. The 2023 Corolla Hybrid brings affordable fuel economy within reach. The Corolla is available as a sedan, hatchback and small crossover in 2023, but the sedan has the lowest price. All-wheel drive is available for an extra $3,000, and lowers combined fuel economy to 44 MPG.

A 5-star safety rating is a big plus with the Corolla Hybrid.

See Toyota Corolla Hybrid listings with local market data and negotiability scores.

Cheapest Hybrid Crossover

Kia Niro Hybrid: A Cost-Effective Hybrid Crossover

Starting Price: $28,165

Fully Loaded Price: $36,565+

The 2023 Kia Niro Hybrid probably isn’t what you had in mind. The completely redesigned Niro is better looking than ever, efficient yet spacious, and still very affordable. Cargo volume is compact but reasonable at 64 cubic feet with the back seats folded.

The 2023 Niro Hybrid gets 53 MPG combined, giving you 588 miles of driving range on a fuel tank. Sure, it’s half as efficient as the fully-electric Niro, but it can go twice as far without stopping to refuel. The 2023 Niro has not yet received a safety rating from the NHTSA as of this writing.

See Kia Niro Hybrid listings with local market data and negotiability scores.

Cheapest Pickup Truck

Ford Maverick: The Cheapest Pickup with Stellar Fuel Economy

Starting Price: $25,100 with destination fees

Fully Loaded Price: $42,000+

The 2023 Ford Maverick is a small truck for a small budget. As the cheapest new truck on sale in 2023, it’s an impressive value. The bed is small but usable at 54 inches long (about 4.5 feet). Fuel economy is spectacular for a truck of any size. The bare-bones base option is a 2 liter EcoBoost engine that gets 26 MPG combined. 

Adding all-wheel drive ups the price and drops fuel economy down to 25 MPG. When you spend a few thousand dollars more to upgrade to the 2.5 L hybrid engine, fuel economy increases a lot to 42 MPG city and 33 MPG highway (37 MPG combined). A Maverick Hybrid with AWD is on the way too. In either case, fuel savings will quickly make up for the higher upfront cost for most drivers. Not bad for well under $30,000.

Looking for the cheapest full-size truck? That would be the 2023 Chevrolet Silverado 1500 LTD, which starts at $32,195.

See Ford Maverick listings with local market data and negotiability scores.

Cheapest Electric Car

Chevrolet Bolt: Great Range, But Slow Charging

Starting Price: $27,495 with destination fees

Fully Loaded Price: $38,485 (Bolt EUV)

You may be shocked to learn that the cheapest electric car in 2023 has an EPA-rated range of 259 miles on a charge. The Bolt EV is a real value, but only for those who have an abundance of patience on road trips. The Bolt EV charges slowly. 90% of EV charging is done at home overnight while you sleep, but public charging is anything but fast in this Chevrolet EV. The 2023 Bolt’s peak charging rate of 55 kilowatts means that in a best case scenario, you’ll be waiting around at the charger for about one hour every 200 miles or so. For about $10,000 more, you can get a faster-charging EV like the American-made Volkswagen ID.4. The ultra-fast charging Hyundai IONIQ 5 starts in the low $40,000 range. 

The upcoming 2024 Chevrolet Equinox EV and 2024 Chevrolet Silverado EV are built on the all-new Ultium electric platform, and will feature much fast charging. If you’re in the market for a sub-$40,000 electric vehicle but aren’t in a hurry, I recommend waiting for the 2024 Equinox EV. With range over 250 miles, faster charging and a price tag reportedly starting well under $40,000, it should be an amazing deal.

See Chevrolet Bolt listings with local market data and negotiability scores.

Cheapest Tesla

The cheapest Tesla is more affordable in 2023 thanks to massive price drops. The rear-wheel drive Tesla Model 3 starts at $41,880 with destination fees, and gets you faster charging with 272 miles of range.

Used Tesla prices are falling fast. Here’s what’s in store for used Tesla prices in 2023.

Shop new Tesla models at Tesla.com, or see used Tesla deals at CarEdge Car Search.

Cheapest Electric Truck

F-150 Lightning Pro

Starting Price: $57,500 (XLT) with destination fees; The Lightning Pro starts at $51,400, but is currently unavailable. See updates at Ford.com.

Fully Loaded Price: $98,769. Caution: Ford dealers routinely markup th F-150 Lightning by tens of thousands of dollars. Do not pay Ford markups!

In 2023, the F-150 Lightning XLT starts north of $57,000 once Ford’s ridiculous $1,995 destination charge in included.

The Lightning Pro technically starts at $49,995, before destination fees of course. However, the Pro is ‘unavailable’ as of October. The Pro features 230 miles of EPA-rated range (real-world tests show that to be accurate).

See Ford F-150 Lightning listings with local market data and negotiability scores.

Yes, You Can Find a Cheap New Car in 2023

Finding the cheapest cars in 2023 may seem like a daunting task given the rising prices in the auto market. However, with options like the Nissan Versa, Hyundai Venue, and Chevrolet Bolt, budget-friendly cars are still within reach. These vehicles not only offer affordability but also provide efficiency, safety, and value for their price, making them ideal choices for price-conscious buyers.

Ready to explore more options for the cheapest cars available? At CarEdge, we’re here to guide you through the process, providing valuable insights and assistance to help you secure the best deals on affordable vehicles. Dive into our extensive listings and find the perfect cheap car that suits your needs and budget today!