Cheapest Cars, Trucks, and SUVs of 2024

Cheapest cars trucks & suvs

Introduction

Factors to Consider When Buying a Car, Truck, or SUV

Budget

  • Setting a realistic budget is crucial when buying a car, truck, or SUV. Determine how much you can comfortably afford to spend on the vehicle, taking into account not just the initial purchase price but also long-term expenses such as fuel, maintenance, and insurance.

Fuel Efficiency

  • With rising fuel prices, opting for a vehicle with good fuel efficiency can save you money in the long run. Consider the vehicle's MPG (miles per gallon) rating, whether it runs on gasoline, diesel, or hybrid technology, and how your driving habits might impact fuel consumption.

Maintenance Costs

  • Regular maintenance is necessary to keep your vehicle running smoothly. Research the estimated maintenance costs for the models you're interested in and factor them into your budget. Some vehicles have higher maintenance costs due to specialized parts or labor.

Insurance Rates

  • Insurance is a recurring expense that varies depending on the vehicle. Insurers consider factors such as the vehicle's safety features, crash test ratings, theft rates, and repair costs. For premium insurance. Look for vehicles that have lower insurance rates to keep your overall costs down.

Top 5 Cheapest Cars of 2024

Nissan Versa

  • Key Features: The Versa offers a comfortable ride, solid fuel economy, and a peppy 122-horsepower engine.
  • Starting Price: The Nissan Versa is mentioned as the cheapest car in the United States for 2024, with a starting price of $15,730.

Kia Rio

  • Key Features: The Rio provides excellent fuel economy, with its 120-horsepower engine returning up to 41 MPG on the highway. However, it may lack certain features like steering-wheel adjustments.
  • Starting Price: The 2024 Kia Rio is mentioned as one of the best affordable subcompact cars on the market, with a price tag of around $16,000.

Mitsubishi Mirage

  • Key Features: The Mirage offers a budget-friendly choice, but it may have some flaws like a less powerful engine and cost-cutting measures in its design.
  • Starting Price: The 2024 Mitsubishi Mirage is highlighted as one of the cheapest new cars of 2024. Its starting price is not specified, but it is mentioned as an affordable option.

Toyota Raize

  • Key Features: Compact SUV with efficient engine, spacious interior, advanced safety features, modern infotainment system, stylish design, and fuel efficiency.
  • Starting Price: The Toyota Raize is mentioned as an option with a price of $136,000. Please note that this price might be specific to Singapore and may not represent the global market.

Volkswagen Polo

  • Key Features: The Volkswagen Polo offers a stylish design, comfortable interior, advanced safety features, modern infotainment, and efficient performance at an affordable price.
  • Starting Price: The starting price of the Volkswagen Polo varies depending on the specific model and market, but it typically starts around $17,000.

Top 5 Cheapest Trucks of 2024

Ford Maverick

  • Key Features: The Ford Maverick is listed as one of the cheapest new trucks for 2024.
  • Starting Price: The starting price for the Ford Maverick is around $19,995.

Hyundai Santa Cruz

  • Key Features: The Hyundai Santa Cruz is mentioned as one of the cheapest new trucks for 2024.
  • Starting Price: The starting price for the Hyundai Santa Cruz is around $23,990.

Chevrolet Colorado

  • Key Features: The Chevrolet Colorado is included among the top cheapest trucks for 2024.
  • Starting Price: The starting price for the Chevrolet Colorado is around $25,200.

Ford Ranger

  • Key Features: The Ford Ranger is mentioned as one of the cheapest trucks for 2024.
  • Starting Price: The starting price for the Ford Ranger is around $26,015.

Toyota Tacoma

  • Key Features: The Toyota Tacoma is listed as one of the cheapest trucks for 2024.
  • Starting Price: The starting price for the Toyota Tacoma is around $26,400.

Top 5 Cheapest SUVs of 2024

2024 Subarus Crosstrek Base: $25,000

  • Key Features: The Crosstrek offers a versatile and capable crossover experience with its efficient performance and standard all-wheel drive, making it ideal for adventurous journeys.
  • Starting Price: The starting price of the Crosstrek is around $23,000, making it an affordable option in the compact crossover segment without compromising on quality and features.

2024 Kia Seltos LX: $25,000

  • Key Features: The 2024 Kia Seltos LX offers a stylish design, advanced safety features, and a comfortable interior at an affordable price of $25,000.
  • Starting Price: The starting price of the Seltos LX is $22,840.

2024 Mitsubishi Outlander Sport S: $24,000

  • Key Features: Mitsubishi Outlander Sport S equipped with advanced safety features like Forward Collision Mitigation, Lane Departure Warning, and Blind Spot Warning to enhance driver and passenger safety.
  • Starting Price: The estimated starting price of the Mitsubishi Outlander Sport S is around $25,000.

2024 Toyota Corolla Cross L : $24,000

  • Key Features: The Toyota Corolla Cross L comes packed with a range of impressive features. Its spacious and versatile interior provides ample room for both passengers and cargo, making it suitable for various lifestyle needs.
  • Starting Price: The estimated price of the Toyota Corolla Cross L is around $25,000 to $30,000.

2024 Mazda CX-30 2.5 S: $24,000

  • Key Features: The Mazda CX-30 2.5 S offers a sleek design, advanced safety features, and a powerful 2.5-liter engine for an exceptional driving experience.
  • Starting Price: The 2024 Mazda CX-30 starts at $22,950 for the base 2.5 S trim

Factors That Impact Car, Truck, and SUV Prices

Vehicle Type
The type of vehicle, such as a car, truck, or SUV, can significantly impact its price. SUVs and trucks generally have a higher starting price compared to cars due to their larger size, higher ground clearance, and additional features like four-wheel drive. Cars, on the other hand, tend to have a lower starting price due to their smaller size and lower production costs.
Brand and Model
The brand and model of the vehicle also play a significant role in determining its price. Established and renowned brands often command higher prices due to their reputation for quality and reliability. Luxury brands, in particular, tend to have higher price tags due to the premium features and materials they offer.
Within a brand, different models can vary in price based on factors such as size, performance, and available features. Higher trim levels and additional options can also increase the price of a particular model.
Trim Level and Options
Vehicles are typically available in different trim levels, each offering a different set of features and upgrades. Higher trim levels often come with more advanced technology, premium materials, and additional safety features, resulting in a higher price. Optional add-ons and packages can further increase the cost of the vehicle.
Market Demand
Market demand and supply also influence vehicle prices. Popular models with high demand may have higher prices due to their desirability, while less popular models may have discounted prices to attract buyers. Factors such as current trends, consumer preferences, and the availability of certain models can impact their pricing.
It's important to consider these factors and prioritize your needs and budget when selecting a vehicle. While affordability is crucial, it's also essential to strike a balance between price and the features and qualities that are important to you.

Tips for Finding Affordable Deals on Cars, Trucks, and SUVs

Research and Compare Prices
Take the time to research and compare prices for the specific make and model you're interested in. Look for discounts, promotions, and incentives offered by dealerships or manufacturers.
Look for Discounts and Incentives
Keep an eye out for discounts and incentives such as cashback offers, rebates, or special financing rates. These can significantly reduce the overall cost of the vehicle.
Consider Used or Certified Pre-Owned Vehicles
Buying a used or certified pre-owned vehicle can be a cost-effective option. These vehicles have already undergone initial depreciation and can offer significant savings compared to brand-new models.
Negotiate with Dealerships
Don't hesitate to negotiate with dealerships to get the best price possible. Be prepared to walk away if the price doesn't meet your budget. Dealerships are often willing to negotiate to make a sale.
Consider Financing Options
Explore different financing options to find the best interest rates and terms that fit your budget. Shop around for loan options from banks, credit unions, or dealership financing to secure the most affordable financing plan.
By following these tips and being diligent in your search, you can find affordable deals on cars, trucks, and SUVs that meet your requirements and budget.

Conclusion

F.A.Q's

The top five cheapest vehicles of 2024 are the 2024 Subaru Crosstrek Base ($25,000), 2024 Kia Seltos LX ($25,000), 2024 Mitsubishi Outlander Sport S ($24,000), 2024 Toyota Corolla Cross L ($24,000), and 2024 Mazda CX-30 2.5 S ($24,000).

Yes, most of these affordable vehicles offer decent fuel efficiency. For example, the Subaru Crosstrek Base and Kia Seltos LX have ratings of 25 mpg and 29 mpg, respectively.

While safety features may vary by model, some common safety features in these vehicles include lane-keeping assist, adaptive cruise control, automatic emergency braking, blind-spot monitoring, and high-beam assist.

Yes, many manufacturers offer warranty coverage for their affordable vehicles. For instance, the Mitsubishi Outlander Sport S comes with a 10-year, 100,000-mile powertrain warranty.

Yes, most dealerships and manufacturers offer financing and leasing options to make these affordable vehicles more accessible. It’s advisable to check with the specific dealership or manufacturer for details and availability.

Author

  • Joseph Ferriolo

    Joseph Ferriolo is a seasoned entrepreneur and business consultant, who currently serves as the Director of Wise Business Plans. With his wealth of experience and expertise, Joseph is well-versed in a variety of business topics and frequently shares his insights and opinions with others. His written work has been featured in respected publications such as Forbes, Entrepreneur, and Bplans, among others.

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