It would be easy to put together a list of the cheapest cars of 2020 just based on the base MSRP. However, what about the cost of the car after you drive it off the dealer lot? We’ve put together a list of the cheapest new cars you can buy based on the total 5-year cost of ownership for the base model according to our friends at Kelley Blue Book. This ownership cost estimation goes beyond just the sticker price of the car and factors in things like depreciation, maintenance costs, and fuel economy.
Here are the 10 cheapest cars of 2020, with scores from Autotrader.
1. 2020 Hyundai Accent – 4.3 / 5
Starting price: $15,295
Accent is the Korean brand’s most affordable model and it has the lowest predicted 5-year ownership cost. The Accent is a nice subcompact sedan that is nicer than you might expect from its price tag. It’s great on gas and it’s roomier than you might expect meaning it can even pass as a small family car as well as being a super frugal commuter.
2. 2020 Honda Fit – 4.6 / 5
Starting price: $16,190
The MSRP of the Honda Fit is actually a bit high for a subcompact car, but its slow depreciation and low running costs make it the second most affordable car to own for 2020. The Honda
Fit is a small hatchback with a huge, versatile interior. Thanks to clever packaging and the Magic Seat feature, you can customize your interior to maximize passenger space, cargo space, or your ideal combination of both.
3. 2020 Chevrolet Spark – 3.8 / 5
Starting price: $13,400
Chevy is great at building big trucks and SUVs, but it’s smallest, cheapest cars are good too. The Chevy Spark has some cool, modern tech features that come standard on every trim including an excellent 7-inch infotainment system with Android Auto and Apple
CarPlay, a Wi-Fi hotspot, and 2 USB ports. The Spark is also super maneuverable and easy to park making it great for urban commuters.
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4. 2020 Kia Rio – 4.3 / 5
Starting price: $15,850
The Kia Rio is a small sedan that’s very similar to its corporate cousin; the Hyundai Accent. Not only is it low-cost thanks to a low MSRP and great fuel economy, but it has one of the best warranties in the industry giving you peace of mind. A user-friendly 7-inch infotainment system with Android Auto and Apple CarPlay is now standard for 2020 which is right at home in the Rio’s high-quality interior.
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5. 2020 Toyota Yaris – 3.5 / 5
Starting price: $15,650
Yaris is a rebadged Mazda2, but you won’t hear any complaints from us because it’s a solid subcompact car. Available as a sedan or a hatchback, the Yaris is stylish, efficient, and has a straightforward model range with only two trims making it an easy car to shop for. Even the more affordable base trim is well-appointed with nice standard tech features like Apple CarPlay.
6. 2020 Toyota Corolla – 4.6 / 5
Starting price: $19,600
The Toyota Corolla is a stalwart in compact cars, partly because it’s historically one of the cheapest cars to own. The 2020 model holds up that reputation and it’s the lowest-cost car on our list that is a compact rather than a subcompact. Available as a sedan or a hatchback, the Corolla continues to be a class leader for its impressive standard safety features, stylish design, and surprising fun-to-drive factor.
7. 2020 Nissan Versa – 4.2 / 5
Starting price: $14,830
The Nissan Versa subcompact sedan was recently fully redesigned and it’s a huge upgrade over the previous generation that it replaced. It has a slick new look that reminds us of bigger Nissan
sedans and it’s nicely appointed with modern technology. It’s pretty roomy for a subcompact car and its low MSRP makes it well within reach for many drivers.
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8. 2020 Toyota Corolla Hybrid – 4.6 / 5
Starting price: $23,100
The Toyota Corolla Hybrid has all of the virtues of its non-hybrid counterpart, but it’s even more fuel-efficient. It returns a very impressive fuel economy rating of up to 53 city / 52 highway mpg. Its starting price is only a little higher than the standard Corolla. If you cover a lot of miles with a long commute or frequent road trips, the super-efficient Corolla Hybrid can save you a bundle in fuel costs in the long run.
9. 2020 Hyundai Veloster – 4.4 / 5
Starting price: $18,800
The sportiest and most interesting-looking car on this list is without a doubt the Hyundai Veloster. With two doors on one side and one door on the other, this hatchback has no shortage of quirks. The Veloster is fun to drive, even with the frugal base engine. It’s also practical for a sporty little car thanks to a generously sized cargo hold. If you’re shopping for the cheapest cars, but want something a little different from the mainstream, the Veloster is a good buy.
10. 2020 Hyundai Elantra – 4.5 / 5
Starting price: $19,300
The compact Hyundai Elantra is a practical and affordable choice in compact sedans. The Elantra gets some awesome new standard features for 2020 including dual-zone automatic climate control, forward collision warning with brake assist, and a driver attention monitor. The ride is quite comfortable for a small car and is solid reliability rating and strong fuel economy numbers contribute to making it so affordable to own.
More: The 15 best compact SUVs—and they’re priced right, too