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Top 10 Best and Cheapest Cars of 2024: Complete Details & Financing Options

5 minutes read

As 2024 rolls in, many drivers are seeking reliable, feature-packed cars without breaking the bank. Below is a comprehensive guide to the top 10 best and cheapest cars of 2024, including full specs, pricing, and financing options available through major U.S. banks. This guide will help you choose the best budget-friendly car while taking advantage of attractive loan options.

Top 10 Cheapest Cars of 2024 with Full Details

1. Toyota Yaris 2024

The Toyota Yaris is known for its reliability and fuel efficiency, making it a popular subcompact car for budget-conscious drivers. The 2024 model offers a sleek design, modern technology, and essential safety features that make it a great all-around car for city driving.

  • Price: Starting at $18,000
  • Fuel Economy: 40 MPG combined (city/highway)
  • Engine: 1.5L 4-cylinder, 106 horsepower
  • Transmission: 6-speed automatic or manual
  • Interior Features: 7-inch touchscreen, Apple CarPlay, Bluetooth, air conditioning
  • Safety Features: Lane departure warning, automatic emergency braking, rearview camera

Financing Options:

Through major U.S. banks such as Chase, Bank of America, and Wells Fargo, the Toyota Yaris can be financed at rates starting from 3.99% APR. With a loan of $18,000 over 5 years, estimated monthly payments start at $332 with a 10% down payment.

2. Hyundai Accent 2024

The Hyundai Accent continues to be one of the most affordable sedans in its class. It comes with a spacious cabin, smooth ride, and excellent fuel efficiency, making it perfect for those who want a low-cost, dependable car.

  • Price: Starting at $17,500
  • Fuel Economy: 39 MPG combined (city/highway)
  • Engine: 1.6L 4-cylinder, 120 horsepower
  • Transmission: CVT (Continuously Variable Transmission)
  • Interior Features: Rearview camera, USB port, 5-inch touchscreen
  • Safety Features: Forward collision warning, driver attention warning

Financing Options:

Financing options for the Hyundai Accent are available through Capital One, U.S. Bank, and other lenders, with rates starting at 4.25% APR. Monthly payments on a $17,500 loan over 5 years start at $320 with a 10% down payment.

3. Nissan Versa 2024

The Nissan Versa has long been a favorite among budget-conscious drivers. The 2024 model offers a spacious interior, advanced technology, and solid fuel economy, making it a strong contender in the affordable sedan market.

  • Price: Starting at $16,500
  • Fuel Economy: 36 MPG combined (city/highway)
  • Engine: 1.6L 4-cylinder, 122 horsepower
  • Transmission: 5-speed manual or CVT
  • Interior Features: 7-inch touchscreen, Apple CarPlay, Android Auto
  • Safety Features: Automatic emergency braking, lane departure warning

Financing Options:

Ally Bank, TD Bank, and other U.S. banks offer loans for the Nissan Versa with APR rates starting at 4.00%. Monthly payments for a $16,500 loan over 5 years start at $302 with a 10% down payment.

4. Kia Rio 2024

The Kia Rio offers a stylish exterior, great fuel economy, and a wide range of standard features, making it one of the best subcompact cars for 2024. It’s a great option for drivers who want a car with a premium feel without the premium price.

  • Price: Starting at $16,000
  • Fuel Economy: 41 MPG combined (city/highway)
  • Engine: 1.6L 4-cylinder, 120 horsepower
  • Transmission: CVT
  • Interior Features: 8-inch touchscreen, wireless Apple CarPlay, rearview camera
  • Safety Features: Automatic emergency braking, lane-keeping assist

Financing Options:

PNC, SunTrust, and other banks offer car loans for the Kia Rio with APR rates starting from 4.10%. Monthly payments for a $16,000 loan over 5 years can start at $295 with a 10% down payment.

5. Chevrolet Spark 2024

One of the most affordable cars of 2024, the Chevrolet Spark is ideal for city drivers due to its compact size and nimble handling. It’s practical, budget-friendly, and comes with modern tech features.

  • Price: Starting at $14,500
  • Fuel Economy: 33 MPG combined (city/highway)
  • Engine: 1.4L 4-cylinder, 98 horsepower
  • Transmission: 5-speed manual or CVT
  • Interior Features: 7-inch touchscreen, Android Auto, Apple CarPlay
  • Safety Features: Rearview camera, automatic emergency braking

Financing Options:

Car loans for the Chevrolet Spark are available through Wells Fargo and Bank of America, with rates starting at 3.95% APR. Monthly payments for a $14,500 loan over 5 years start at $267 with a 10% down payment.

6. Ford Fiesta 2024

The Ford Fiesta 2024 offers a sporty driving experience, with sharp handling and a comfortable ride. It’s a great option for those seeking an affordable yet fun-to-drive car.

  • Price: Starting at $19,000
  • Fuel Economy: 37 MPG combined (city/highway)
  • Engine: 1.6L 4-cylinder, 120 horsepower
  • Transmission: 6-speed automatic or manual
  • Interior Features: SYNC 3, Apple CarPlay, Android Auto
  • Safety Features: Rearview camera, automatic emergency braking

Financing Options:

Chase and U.S. Bank offer financing for the Ford Fiesta with APR rates starting at 4.00%. Estimated monthly payments for a $19,000 loan over 5 years start at $350 with 10% down payment.

7. Honda Fit 2024

The Honda Fit is known for its spacious interior, flexible seating, and excellent fuel economy. The 2024 model continues to offer great value with modern technology and reliability.

  • Price: Starting at $17,900
  • Fuel Economy: 36 MPG combined (city/highway)
  • Engine: 1.5L 4-cylinder, 130 horsepower
  • Transmission: 6-speed manual or CVT
  • Interior Features: 7-inch touchscreen, Apple CarPlay, Bluetooth
  • Safety Features: Adaptive cruise control, lane departure warning

Financing Options:

Honda Financial Services, as well as other lenders, offer financing for the Honda Fit with APR rates starting at 3.75%. Monthly payments on a $17,900 loan over 5 years start at $327 with a 10% down payment.

8. Mazda 2 2024

The Mazda 2 offers a stylish exterior and a dynamic driving experience, making it one of the more fun-to-drive options in the subcompact category for 2024. It’s perfect for city commuters looking for something affordable yet refined.

  • Price: Starting at $16,800
  • Fuel Economy: 35 MPG combined (city/highway)
  • Engine: 1.5L 4-cylinder, 106 horsepower
  • Transmission: 6-speed automatic or manual
  • Interior Features: 7-inch touchscreen, Bluetooth, USB ports
  • Safety Features: Blind-spot monitoring, rearview camera

Financing Options:

Mazda’s financing partners, including Chase and Wells Fargo, offer loans starting at 4.00% APR. Monthly payments for a $16,800 loan over 5 years start at $307 with 10% down.

9. Volkswagen Jetta 2024

The Volkswagen Jetta offers a premium feel at an affordable price, with great fuel efficiency and advanced technology. The 2024 model is ideal for those looking for a sedan with a bit more style and comfort.

  • Price: Starting at $20,500
  • Fuel Economy: 41 MPG combined (city/highway)
  • Engine: 1.4L turbocharged 4-cylinder, 147 horsepower
  • Transmission: 6-speed manual or 8-speed automatic
  • Interior Features: 6.5-inch touchscreen, Apple CarPlay, Android Auto
  • Safety Features: Forward collision warning, automatic emergency braking

Financing Options:

Volkswagen Credit and other U.S. banks offer financing for the Jetta with rates starting at 3.85% APR. Monthly payments for a $20,500 loan over 5 years start at $376 with a 10% down payment.

10. Mitsubishi Mirage 2024

The Mitsubishi Mirage is one of the most affordable and fuel-efficient cars of 2024, making it a great option for those looking for a simple, reliable car at a low cost.

  • Price: Starting at $14,800
  • Fuel Economy: 43 MPG combined (city/highway)
  • Engine: 1.2L 3-cylinder, 78 horsepower
  • Transmission: 5-speed manual or CVT
  • Interior Features: 7-inch touchscreen, Bluetooth, USB ports
  • Safety Features: Forward collision warning, rearview camera

Financing Options:

Financing for the Mitsubishi Mirage is available through major banks like Ally Bank and TD Bank, with APR rates starting at 4.20%. Monthly payments for a $14,800 loan over 5 years start at $272 with a 10% down payment.

Key Factors to Consider When Buying a Budget Car in 2024

When looking for a budget car, consider factors such as fuel efficiency, safety features, and technology integration. Make sure the car fits your daily driving needs and has low long-term maintenance costs. Financing options can also vary, so it’s essential to compare loan offers from different banks to get the best deal.

Conclusion

With a variety of affordable cars on the market in 2024, you can find a model that suits your needs and budget. These top 10 cars offer a mix of fuel efficiency, technology, and safety at affordable prices. Additionally, with financing options available from major U.S. banks, getting your dream car is within reach without putting too much strain on your budget.

5 minutes read

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