Affordability is often the key when you’re looking to buy a new car. But, unfortunately, purchasing a car is an expensive affair. In addition to the upfront cost, there are recurring costs like gas and inescapable repairs. As a result, many drivers are searching the market for their next method of transportation on a tight budget, or in other words -looking for the cheapest car on the market. Here we’ll look at some of the cheapest cars in the world market at the moment.
There are a lot of affordable cars on the market in 2022 which could help you fulfill the dream of owning a four-wheeler without burning a hole in your pocket—Chevrolet Spark, Mitsubishi Mirage, Nissan Versa, you name it.
To find out more about the cheapest cars in the world, continue reading. Then, we’ll talk about the best choice amongst them and if they’re a good investment for you. So, let’s start.
The cheapest car in the world
The Tata Nano
The discontinued Tata Nano held the record for being the cheapest car in the world for a few years since its arrival in 2008. Though it sparked a revolution in cheap motoring, Nano’s fate was to meet with a lukewarm response from the buyers, as they weren’t willing to settle on something with a tag of being the cheapest car in the world.
Although you can’t buy them fresh, the Nano enjoys a fair following on the used car market in India, particularly for people looking to buy a small car to fit into the tight city roads.
What is the cheapest car in the world in 2022?
It looks like an American has taken over the Nano’s legacy. The 2022 Chevrolet Spark boasts of being the cheapest of all cars produced in America at an astounding price of $13600. Though it seems cheap, it does not miss out on various essential features like a standard 7-inch touchscreen display which is tech-laden in itself with Apple CarPlay and Android Auto.
The puny nature of the Spark also makes it an easy choice for people searching for a perfectly maneuverable city car. The fact that the current cheapest car in the world comes with a plethora of funky color options is also a plus for people looking to flaunt their car as a style statement. With the 98 horses kicking out of the 1.4L engine mated to a CVT transmission, we wouldn’t call it a boring car either.
For $14,645, The Mitsubishi Mirage sits just below the Spark, in the list of affordable cars on the market. It is the best bet for seekers of a cozy five-seater family car with much room for cargo. With an incredible combined fuel economy of 37mpg, it makes itself the best option on a tight budget for gas-conscious buyers. The Mirage comes in hatchback and sedan avatars with many color options for the picky buyer.
Next to make it into the cheapest new car in the world list is the Nissan Versa, which comes in at $15,380. As the Nissan landing page for the Versa rightly puts it, it is a tech-laden car that keeps you ahead of all competitors, with many handy connected car features.
In addition, versa comes with a punchy 1.6L engine that churns out a staggering 122hp, which makes it one of the most affordable fun-to-drive cars to buy right now.
This cleverly tech-equipped car has many user-friendly features that make your life easier. The Rio, which Kia claims to be more spacious than an expensive Toyota Corolla, also comes loaded with many features like lane keeping, high beam assists, and pedestrian detection, making safety its forte.
In addition, the base LX variant of the Rio starts at $16450, making it one of the cheapest and safest subcompact options you can buy now, in both sedan and hatchback forms. So, if you are looking for a neatly designed, safe, practical car, you know where to go!
Hyundai Accent is one of those options you could hone into if you are looking for a cheap car that doesn’t look so cheap. Even though mechanically equivalent to the Rio, the Accent only offers a sedan version.
It has a mature interior with a bland styling that might not appeal to many. Although that is the case, the top trim comes in a surprise package with a hands-free trunk release, heated seats, and proximity key, features you wouldn’t expect on a $16,645 car.
What is the cheapest electric car in the world?
In this age, where electric vehicles are gaining traction and governments worldwide are pushing stricter emissions rules, EVs could be the best option for you. In addition, EVs are no longer small, low-range, and expensive, and many affordable options exist. So, if you’re one of those nature-conscious beings trying to cut your carbon footprint daily on a tight budget, these are some options you could consider.
Fiat 500 Electric
At $25555, the Fiat 500 Electric is one of the most affordable electric cars in the market you can buy in 2022. Being one of the iconic models in the Fiat stable, it retains its classic design clubbed with an impressive 199-mile range. Unfortunately, Fiat is still contemplating its release in the US market.
The cheapest electric car that American buyers can lay their hands on is the Nissan Leaf. You can take the base model, the Leaf S, home by spending as low as $28,495, enjoying the benefits of a 147-hp front-mounted electric motor that can take you to roughly 149 miles.
Should you buy the cheapest car?
While considering getting a new car, you must ensure that your chosen ride offers great value. Though owning one could stay cheaper than your desired budget, costs like gas prices, recurring service costs, and repairs may burn a hole in your pocket. Therefore, before making a final decision on a car, it’s always wise to perform some serious research on the brand and model you’re interested in to avoid getting hit with big bills.
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