The Most Affordable New Car You Can Get In 2023
A few years ago, shortly before the pandemic and supply chain snags resulted in chip shortages, if you wanted a brand-new car for under $20,000, there were about a dozen to choose from.
Five years later, there’s only one: the Mitsubishi Mirage. That’s it.
The Mirage has been sold in the U.S. for about a decade, and last month, according to Cox Automotive, it was selling on average for $19,205. There are a couple other small vehicles that have starting prices under $20,000. But their actual prices, including shipping, put it over.
We’re not here to sell you on a Mirage, just to make the point that car prices, both new and used, are simply out of control, like so many other things we need, especially now that more employers want to see their employees back in the office.
At just under $20,000 for this 3-cylander hatchback or sedan costs less than half of what the average new vehicle does. Get this, the average price of a new car or SUV is now just north of $48,000. That’s 25% more than before the pandemic struck three years ago.
A new Mirage costs about the same as a 4-year-old Mazda 3, and surprisingly, it comes with a five-year, 60,000 bumper-to-bumper warranty, and delivers 39 miles to the gallon. But for $20,000, you should have more choices than this vehicle with a sluggish 76-hp engine that’s about to be discontinued anyway. Only 1,974 were sold in the second quarter of 2023, down 57% from a year ago. Plus, it’s being reported that production is halting at the plant where the Mirage is manufactured in Thailand.
There are not too many Mitsubishi dealerships in Tampa Bay, but if you want a Mirage before they’re gone, when there will not be a single new car model under $20k, click here for a dealership near you.
If you’re willing to pay a bit more, there are a few choices under $25,000:
- Mitsubishi Mirage: $19,205
- Kia Rio: $20,157
- Nissan Versa: $20,763
- Hyundai Venue: $23,971
- Nissan Sentra: $23,994