#cheap new cars
The Cheapest New Cars of 2014
Update: I have since published a list of the cheapest new cars of 2015. What follows is for the 2014 model year.
If you re new to this blog and in the market for a new car, you might as well start your search with a list of the least expensive new cars on the market. And this post serves as just that a list of the cheapest new cars of 2014 .
I research and revise this list each year you can find last year s cheapest new cars here. for comparison and since dealers want to move on to 2014, you might be able to find a great deal on last year s models.
But before you take this article as a testimonial to run out and buy a new car here is my advice:
- Live without a car, if at all possible (take public transportation/bike/walk).
- If you have a significant other, downsize from 2 cars to 1, if you can. I did this about 5 years ago and it s been a HUGE cost saver .
- Drive your existing car as long as it is economically feasible to continue doing so.
- If you do need a car, look long and hard for a great deal. I don t believe in the always buy used motto. Sometimes new cars are the cheaper option if you can find a great deal and you ride it until its death, particularly with the used car market being over-priced, as it has been in recent years. Do your homework to find the most economical option for you.
We good? OK, now I can rest easy.
Pricing Out a Vehicle
There is a whole lot more to finding the cheapest vehicle than just looking at sticker price. In this post, for your convenience, I ve included:
- the base auto transmission model (manuals are often cheaper, but hard to find and sell)
- the MSRP (which you should never pay)
- the factory invoice
As well as other important variables that impact total cost:
- city and highway MPG ratings
- average annual fuel cost (from the EPA’s fueleconomy.gov at $3.24 per gallon, 15,000 miles driven (45% city, 55% highway).
- length of powertrain and basic warranties
You ll also want to price out insurance premiums at a number of insurers BEFORE choosing a car to purchase.
Notes on the Cheapest New Cars of 2014
Not a huge list of newcomers this year.
One that is exciting, in its cheapness, if not styling is the Mitsubishi Mirage. This car enters the list at #4 as a 4-door hatchback. It gets outstanding fuel economy at 37 city and 44 highway, and carries an excellent warranty at 10 years or 100,000 miles for original owners, 5 years/60,000 for subsequent owners on powertrain, and 5 years 60,000 miles on a basic limited warranty.
There is a new cheapest new car this year, as the Nissan Versa surpasses the Smart Car ForTwo (which has had sizable price increases the past two years) for the #1 spot. The Versa also adds an S+ version to its lineup, which is the same as the basic, but with a continuously variable transmission which pushes it up to 40 MPG highway.
Most of these models did not exist 5 years ago, so it s encouraging to see a renewed focus by automakers on making compact, inexpensive vehicles.
None of these vehicles make my list of the most fuel efficient cars of 2014 because of their newer engine technology but most do have very respectable fuel economy due to their small sizes.
Foreign Automakers Still Own the Market for the Cheapest Cars
Foreign Automakers claim ownership of 7 of the top 10 cheapest new cars. The Spark and Sonic (Chevy) and Fiesta (Ford) are the only models to make the list from U.S. automakers.
Without further ado, here are the top 10 cheapest new cars of 2014 from #10 up to #1. What s your pick, if you had a choice?
10. Mazda 2
- Base Automatic Transmission model: Mazda 2 Sport 4-Door Hatchback
- Engine: 1.5L, 4-speed Auto Transmission, 16-valve, 4 cylinder, 100 HP
- MSRP: $16,355
- Factory Invoice: $16,354
- City MPG: 28
- Highway MPG: 34
- Annual Fuel Cost: $1,600
- Powertrain Warranty: 5 years or 100,000 miles
- Limited Basic Warranty: 3 years or 36,000 miles
- Notes: The cousin to the Ford Fiesta, The Mazda2 actually has a 4-speed transmission vs. the Fiesta s 6-speed giving it lower fuel efficiency. Zero price increase year/year, while the Fiesta actually declined. My money is still on the Fiesta.