Top 10 Cheapest New Cars You Could Buy in 2015

These are the top 10 cheapest new cars you could have bought in 2015.

Price is not the only thing when it comes to buying a cheap new car. You will also want to take into consideration all the ownership costs associated with the vehicle.

Table of Contents

Cost of new car ownership

Finance charges, insurance, fuel economy, and preventive maintenance are just a handful of costs that will add up over the life of the vehicle. In actuality, the total of the vehicle’s payments will only make up about half of what the cost of owning the vehicle will be over a five-year auto loan.

Some financial experts say, “A new car is one of the worst depreciating assets you can buy.” I guess it’s hard to argue with that statement, however, you have to have a vehicle to get anywhere in this world.

You have a few options to decrease or avoid vehicle ownership costs altogether:

Keep your car until the wheels fall off, keep up the maintenance until the cost outweighs the benefits of keeping the vehicle on the road.
Sell your vehicle and walk, carpool, bike, or take public transportation.
If you have more than one vehicle in your household, downsize. Example: 3 cars to 2 or 2 cars to 1. You may find the savings will outweigh any inconvenience.
Can’t live without a car, that’s okay most of us can’t. I’m not 100% sold in the “don’t buy new, always buy used” saying. More and more manufacturers are offering incentives making some new cars a cheaper option. At this time the used car market is booming with prices moving further north by the month. With a little new car research, you’ll find an economical option that best fits your driving needs.

Take a look at my new car buying advice chapter to learn how to properly research and compare new cars online before contacting a dealership. I’ll also show you how car dealers make money selling new cars and how to recognize and avoid tricky car dealer scams.

Step-by-step walkthrough on how to buy a new car | New Car Buying Cheat Sheet

Must-Read Guides and Resources

How to Buy a New Car Below Factory Invoice Price – True dealer cost and the factory invoice price are not the same… dealer cost can be much lower.
Figure a Fair Profit New Car Offer – How to calculate a fair profit new car offer.
How to Buy a New Car Online – Not sure where to start? My step-by-step guide on how to buy a new car online.

Ownership cost you can control

One ownership cost you can control right away is insurance. What rate you pay is normally based on several factors including miles driven, age, driving record, gender, where you live, and credit rating.

Vehicles are also rated differently, vehicles with lower repair costs or claim histories will normally have cheaper insurance premiums.

New sports cars tend to attract young and/or aggressive drivers and luxury vehicles have higher repair costs, these types of vehicles will typically always have higher insurance rates. Some compacts, sedans, crossover SUVs, and minivans tend to have the cheapest insurance rates available.

Many dealers will greatly discount new cars not selling on their lot to entice new car shoppers to buy. Choosing a new car based on a cheap price, only to save a few dollars upfront, can end up costing you more money over time.

You must be cautious and keep a lookout for vehicles that depreciate much quicker over time. This is also true with vehicles that cost more to maintain, consume more fuel, or cost more to insure.

Methodology

As stated above, finding the least expensive vehicle to own is not just by looking for the cheapest sticker price. I’ve also included the following information in this list:

Factory invoice price (You may be able to buy the vehicle even cheaper, do your homework first)
Manufacturer Suggested Retail Price (MSRP) Never pay this amount for a vehicle
Fuel Economy (city and highway MPG)
Manufacturer warranty information
Annual fuel cost as per fueleconomy.gov ($2.55 per gallon, 15,000 miles a year, 45% City / 55% Hwy)
Vehicles listed have the base automatic transmission. Some of the listed vehicles do not have the option for a manual transmission. If they do, they’re hard to sell, hard to find, or don’t come with A/C. If you can opt for a manual transmission, statistics show it can save you anywhere from $800 to $1,200 annually.

If you’re a new car shopper wanting to get a vehicle that’s cheap, affordable, and inexpensive to own, you may want to consider one of the vehicles on my top 10 list below.

Best New Car Quote Services

RydeShopper has one of the largest new car dealership networks in the world. Select the make and model you’re interested in and they will instantly search clearance pricing within your local area. Don’t forget to select as many dealers as possible to increase your chances for the greatest discounts and savings.

Find Local Car Clearance Deals >>

Edmunds is one of the oldest and best new car research and review sites on the internet. Their huge dealer network allows you to shop, research and compare millions of new cars so you can find the exact vehicle you’re looking for.

Search Edmunds New Cars >>

MotorTrend is one of the best kept secrets on the Internet. Best known for their automobile magazine, MotorTrend has a vast dealer network across the nation. Their referral service is 100% free and there’s no obligation to purchase. Pick a vehicle, select local dealers, and receive discount pricing.

Search MotorTrend Vehicles >>

CarsDirect has been in online vehicle research business since 1998 and has all the right tools to help you find your next car, truck or SUV. They offer a no-hassle experience from configuring a car to making the final purchase. You’ll find your next car quickly and easily.

See Cars Direct Pricing >>

See All Online Car Buying Tools

Top 10 cars you could have purchased in 2015

#10 – 2015 Toyota Yaris L 3 Door (Lift-back | Hatchback)

MSRP: $16,395
Factory Invoice: $16,111
MPG: 30 City | 36 Hwy
Annual Fuel Cost: $1,200
Engine: 1.5L 4 Speed Automatic Transmission, 106 HP, 16-valve, 4-cylinder
Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles

#9 – 2015 Mazda 2 Sport 4 Door Hatchback

MSRP: $16,364
Factory Invoice: $16,355
MPG: 28 City | 34 Hwy
Annual Fuel Cost: $1,300
Engine: 1.5L 4 Speed Automatic Transmission 16-valve, 4 cyl, 100 HP
Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 100,000 miles

#8 – 2015 Chevrolet Sonic LS 4 Door Sedan

MSRP: $16,320
Factory Invoice: $16,243
MPG: 25 City | 35 Hwy
Annual Fuel Cost: $1,350
Engine: 1.8L 6 Speed Automatic Transmission 138 HP, 16-valve, 4 cylinder
Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 100,000 miles

#7 – 2015 Scion IQ 2 Door Hatchback

MSRP: $16,315
Factory Invoice: $15,663
MPG: 36 City | 37 Hwy
Annual Fuel Cost: $1,050
Engine: 1.3L Continuously Variable Automatic Transmission (CVT) 93 HP, 16 valve, 4 cyl.
Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles

#6 – 2015 Kia Rio LX 4 Door Sedan

MSRP: $15,940
Factory Invoice: $15,632
MPG: 27 City | 37 Hwy
Annual Fuel Cost: $1,250
Engine: 1.6L 6 Speed Automatic Transmission 138 HP, 16-valve, 4 cylinder
Warranty: Basic 5 years or 60,000 miles | Powertrain 10 years or 100,000 miles

#5 – 2015 Ford Fiesta S Sedan, 4 Door

MSRP: $15,885
Factory Invoice: $15,124
MPG: 27 City | 37 Hwy
Annual Fuel Cost: $1,250
Engine: 1.6L 6 speed automatic transmission 120 HP, 16 valve, 4 cyl.
Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles

#4 – 2015 Mitsubishi Mirage DE CVT, 4 Door Hatchback

MSRP: $14,890
Factory Invoice: $14,583
MPG: 37 City | 44 Hwy
Annual Fuel Cost: $950
Engine: 1.2L Continuously Variable Automatic Transmission (CVT) 74 HP, 3 cylinder
Warranty: Basic 5 years or 60,000 miles | Powertrain 10 years or 100,000 miles

#3 – 2015 Chevrolet Spark LS 4 Door Hatchback

MSRP: $14,405
Factory Invoice: $14,269
MPG: 30 City | 39 Hwy
Annual Fuel Cost: $1,100
Engine: 1.2L 4 Speed Automatic Transmission 84 HP, 16-valve, 4 cylinder
Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 100,000 miles

#2 – 2015 Nissan Versa Sedan 1.6S, 4 Door

MSRP: $14,315
Factory Invoice: $14,117
MPG: 26 City | 35 Hwy
Annual Fuel Cost: $1,300
Engine: 1.6L 4 speed automatic transmission 109 HP, 16 valve, 4 cyl.
Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles

#1 – 2015 Smart ForTwo Pure Coupe

MSRP: $14,020
Factory Invoice: $13,171
MPG: 34 City | 38 Hwy
Annual Fuel Cost: $1,250
Engine: 1.0L 5 Speed Automatic Transmission (CVT) 12 value, 70 HP, 3 cylinder
Warranty: Basic 4 years or 50,000 miles | Powertrain 4 years or 50,000 miles

Car Price Quotes

Use my recommended tools to find the best deals in your local area.

Rydeshopper
Edmunds
MotorTrend

Find the dealer with the lowest price and save. When dealers compete = You WIN!

In the market for a new car?

If you’re in the market for a “cheap-to-own” new car, I recommend using a free online referral service such as Ryde Shopper and Motor Trend to guarantee you pay the lowest price. Using these free services is the best way to do your car shopping online.

These services will provide you with several quotes from local dealerships in your area. They’ll also provide you with valuable information on what other people are paying for the vehicle you’re considering and which local dealers are providing the best discounts from MSRP.

If you have no idea where to start the car buying process. Use my free new car buying cheat sheet for a step-by-step guide on how to buy a new car online, get a great deal and avoid dealer scams.

About the author

My name is Carlton Wolf and I have been in the retail and wholesale car business for well over 20 years. I created the Auto Cheat Sheet to better educate buyers on the deceptive sales practices found in many dealerships across the country. Please understand, not all car dealers are dishonest. However, you never know who you will be dealing with. I’m willing to share my knowledge and experience with anyone willing to listen. Keep in mind, I’m a car guy, not a writer.