Car prices are increasing, even for the most affordable ones. However, there are still many affordable options available in the new car market. We have compiled a list of the 2024 Cheapest New Cars in this article on IchieTech. Compact cars like the Honda Civic and Mazda 3 offer plenty of features for most people’s needs and can be equipped with options that make them comparable to more expensive alternatives.
Subcompact cars are also becoming more advanced without a significant price increase, as seen in the redesigned Nissan Versa with its sleek appearance. Cheaper options are also available, such as the least expensive subcompact cars. However, if your budget allows, it is generally recommended to choose a car from the higher or middle price range on this list.
List of Cheapest New Cars for 2024
1. 2024 Nissan Versa
Step aside, Mirage. Claiming the crown for “most affordable new car,” the 2024 Nissan Versa doesn’t compromise on value. Sure, it might not match the discontinued Kia Rio’s prestige, but in a market driven by pricier options, the Versa shines as the champion of affordability.
Don’t let the modest price tag fool you. The Versa boasts surprising capabilities. While the Mirage edges it out in fuel economy, the Versa comes out ahead in every other category. Its refined 1.6-litre engine (paired with a smooth CVT or a sporty manual transmission) delivers composed performance. You’ll enjoy ample cargo space, perfect for weekend getaways or grocery runs, and a surprisingly comfortable ride.
Sure, a whisper of road noise might creep into the cabin, and it won’t win any drag races, but the Versa makes up for it with impressive safety features and the undeniable allure of its low starting price.
Market Price: $17,405 [₦21,764,952.50]
2. 2024 Mitsubishi Mirage
While the 2024 Mitsubishi Mirage boasts the second-lowest starting price tag, it might not be the budget champion you initially thought. Its seemingly attractive base price hides mandatory add-ons like a “Welcome Package” and tonneau cover, bumping the true starting cost. This strategy leaves it off the top spot for affordability and raises questions about its overall value.
Beyond its price tag, the Mirage embodies the concept of “basic.” It’s stripped down to the essentials, lacking even the standard amenities found in most modern cars. Owning a manual might be an optional extra, further emphasizing its no-frills approach.
However, this bare-bones approach comes with compromises. The driving experience, while manageable in city environments, falls short on dynamics and refinement. Safety features are minimal, and performance is, well, practical at best. Even considering its low price, the negatives stack up.
Market Price: $18,110 [₦22,646,555.00]
3. 2024 Kia Forte
Looking for a budget-friendly compact car that doesn’t skimp on the essentials? Look no further than the 2024 Kia Forte. Starting at a wallet-conscious price, the Forte offers an abundance of value without sacrificing the features you need.
Sure, the base model keeps things refreshingly simple. With its fuel-efficient 2.0-litre engine, you’ll enjoy impressive gas mileage while the standard features provide everything you need for comfortable commutes and daily errands. This straightforward approach might be just what you’re looking for, especially if fuel efficiency and affordability are your top priorities.
But don’t be fooled by the base model’s simplicity. As you climb the trim ladder, the Forte transforms into a surprisingly well-rounded contender. Higher trims boast a plethora of features, including advanced driver-assistance systems that received less-than-stellar ratings on the base model.
And for those seeking a touch of excitement, the top-of-the-line Forte GT delivers. Its lively turbocharged powertrain injects a dose of fun into your daily drive, while its generous feature list rivals more expensive competitors.
So, whether you’re seeking a no-frills option for budget-conscious driving or a feature-packed package with a hint of sportiness, the 2024 Kia Forte offers a compelling option that won’t break the bank. Consider it the compact car that proves affordability and value can go hand-in-hand.
Market Price: $20,915 [₦26,154,207.50]
Also Read: Cheapest SUVs to Buy in Nigeria and Their Prices
4. 2024 Nissan Sentra
Looking for a sharp-looking sedan that delivers value without breaking the bank? The 2024 Nissan Sentra might be your perfect match. It boasts head-turning exterior styling, class-leading fuel economy, and a surprisingly spacious interior, all at a price point thousands below the segment’s frontrunners.
But before you hit the “buy” button, there are a few things to consider. While the Sentra’s 2.0-litre engine delivers decent fuel efficiency, its 149 horsepower might leave you yearning for more pep, especially when merging into highway traffic. Additionally, all-wheel drive isn’t an option, which could be a dealbreaker for drivers in snowy climates.
Ultimately, the 2024 Sentra offers a compelling combination of style, practicality, and affordability. If you prioritize fuel efficiency and value over neck-snapping acceleration and all-weather capability, this Nissan is definitely worth a closer look.
Market Price: $21,295 [₦26,629,397.50]
5. 2024 Hyundai Elantra
Forget the trade-offs. The 2024 Hyundai Elantra delivers exceptional value without sacrificing style, performance, or safety. It confidently trades blows with segment leaders like the Civic and Corolla, offering more features for less.
Spacious and sophisticated, the Elantra boasts a sleek, modern design that turns heads. Inside, you’ll find a comfortable, well-equipped cabin, perfect for everyday driving or weekend adventures.
Fuel efficiency is another area where the Elantra shines. Its 2.0-liter engine delivers impressive mileage, while the available hybrid powertrain takes it to the next level. Plus, the Elantra earned a 2022 IIHS Top Safety Pick, giving you peace of mind on every journey.
But value isn’t just about features and price. The Elantra also offers an exhilarating performance. The high-performance Elantra N takes on more expensive sports compacts, delivering thrilling driving dynamics that leave you wanting more.
Market Price: $22,065 [₦27,592,282.50]
6. 2024 Volkswagen Jetta
The 2024 Volkswagen Jetta is a budget-conscious sedan that prioritizes affordability and fuel economy. Starting at an attractive price point, it boasts an impressive 158-horsepower, 1.5-litre turbocharged engine that delivers zippy acceleration and exceptional fuel efficiency. However, achieving this value comes with compromises.
While the Jetta excels in efficiency and affordability, its interior finishes lack the premium feel often associated with Volkswagen, and the ride and handling fall short of expectations. Additionally, the available manual transmission, while engaging, struggles with uncommunicative steering, potentially dampening the driving experience.
Despite these shortcomings, the Jetta shines in specific areas. The base model’s impressive fuel economy puts it ahead of many competitors, and the top-of-the-line GLI trim remains a standout performer in the sport compact segment.
The 2024 Jetta is an appealing option for budget-minded drivers who prioritize fuel efficiency and practicality over luxury and driving dynamics. However, it’s essential to be aware of the trade-offs before making a decision. Consider test-driving the Jetta and comparing it to similar offerings to ensure it aligns with your priorities.
Market Price: $22,585 [₦28,242,542.50]
7. 2024 Toyota Corolla
The 2024 Toyota Corolla strikes a harmonious chord for drivers seeking a blend of affordability and functionality. Offered in sleek sedan and versatile hatchback styles, it boasts an impressive cabin offering ample space for passengers and cargo alike. Safety is paramount, with the Corolla garnering solid ratings that inspire confidence on every journey.
While some competitors might boast flashier interiors or more spirited handling, the Corolla prioritizes practicality and reliability. The base model, powered by a responsive 2.0-litre engine and smooth CVT combination, stands out for its zippy acceleration, exceeding expectations for an entry-level compact car.
And for those seeking unleashed performance, the turbocharged, manual, all-wheel-drive GR Corolla sits at the pinnacle of the lineup, ready to thrill driving enthusiasts.
But for the majority of drivers, the true appeal lies in the sweet spot offered by the base Corolla and its hybrid counterpart. They deliver unbeatable value, legendary Toyota reliability, and a stylish package that turns heads without breaking the bank.
Market Price: $22,995 [₦28,755,247.50]
Also Read: Cheapest Cars to Buy in Nigeria and Their Prices
8. 2024 Subaru Impreza
The 2024 Subaru Impreza might not win any beauty contests, but beneath its unassuming exterior lies a car with a heart of gold. Its true strengths shine through in the areas that matter most: exceptional handling and unwavering confidence, thanks to its standard all-wheel drive.
While the Impreza, including the revitalized RS trim, delivers a commendable driving experience, “sporty” might be a stretch. The CVT gearbox falls short of delivering a truly athletic feel, and the base 2.0-litre flat-four engine, with its 152 horsepower, leans more towards reliability than thrilling.
But let’s be honest, not everyone craves neck-snapping acceleration. The Impreza excels in areas often overlooked: nimble handling that inspires confidence on winding roads, a composed ride that eats up miles effortlessly, and legendary all-wheel drive that tackles any weather with aplomb.
So, if you prioritize substance over style, and value a car that delivers honest driving pleasure and uncompromising all-weather capability, the 2024 Subaru Impreza might just be your perfect match. It may not turn heads, but it will win your heart, mile after satisfying mile.
Market Price: $24,115 [₦30,155,807.50]
9. 2024 Honda Civic
The 2024 Honda Civic sheds its youthful exuberance for a more mature demeanour, yet retains the driving dynamics that have made it a legend. But like a well-tailored suit, true value lies in the details, many of which are reserved for higher trim levels.
The base Civic LX strikes a compelling chord for budget-conscious buyers, boasting impressive fuel economy (up to 40 mpg highway) and a comprehensive suite of safety features. However, its naturally aspirated 2.0-litre engine, while delivering commendable efficiency, leaves performance enthusiasts wanting, clocking a lacklustre 0-60 mph time of 9.2 seconds.
For those seeking a livelier driving experience, the 1.5-litre turbocharged engine in higher trims delivers the punch needed to satisfy. But remember, this upgrade requires stepping beyond the base model’s enticing price point.
Ultimately, the 2024 Civic offers a compelling blend of maturity, safety, and value. However, discerning drivers seeking a thrilling ride may need to explore higher trim levels to unlock its full potential.
Market Price: $25,045 [₦31,318,772.50]
10. 2024 Mazda 3
Looking for a compact car that turns heads without turning your wallet inside out? Look no further than the 2024 Mazda 3. This stunning five-seater punches well above its weight in the style department, boasting an interior and exterior that rivals premium brands – all at a price that won’t leave you feeling empty-pocketed.
But the Mazda 3’s beauty isn’t just skin-deep. Under the hood, the base 2.5-litre engine delivers a peppy 191 horsepower, ensuring your daily commute is anything but dull. And if you crave a little more excitement, the available turbocharged option packs a serious punch.
True, the rear seating isn’t the most spacious, a small concession to the car’s sleek design. But where it lacks in legroom, it makes up for in performance and versatility. Available all-wheel drive makes it a confident companion for any adventure, while the hatchback body offers ample cargo space for weekend getaways or spontaneous shopping sprees.
In a crowded segment, the 2024 Mazda 3 stands out as a compelling choice for drivers who value both style and substance, without compromising on affordability. So, if you’re looking for a car that makes a statement without making a dent in your savings, take the Mazda 3 for a spin. You might just be surprised by what you find.
Market Price: $25,335 [₦31,681,417.50]
Conlusion
As the automotive industry continues to evolve, finding an affordable yet well-equipped car becomes more challenging, especially with the rising prices. However, this list of the cheapest new cars for 2024 offers a variety of options that cater to different preferences and priorities.
The diverse range of options on the list ensures that consumers can find a new car that fits their preferences and budget constraints while striking the perfect balance between affordability and features. These choices reflect the changing landscape of accessible and high-quality vehicles in 2024 as the automotive industry continues to innovate.
