Buying your first car can be intimidating and costly, especially when you're juggling student loans and rising living expenses. If you're a young buyer on a tight budget we have the solution. Here are ten cars that won't break the bank.
1. Nissan Micra
Why bother buying a used car when the cheapest new car on the market costs less than 10 grand? The 2015 Nissan Micra, which starts at $9,998, is a steal for any cash-strapped, starving student counting their pennies. If you’re on a budget, stick with the bare bones S base trim with a 5-speed stick. If you want to splurge, a fully-loaded SR model costs $16,748 and adds a 4-speed automatic transmission, front fog lights, and a rear-view monitor.
2. Honda Fit
The redesigned 2015 Honda Fit is a versatile car that’s cheap, practical, and spacious. One lever lets you drop the rear seats to reveal a large, flat cargo floor, perfect for moving your possessions. Prices for the 2015 model aren’t available yet, but a 2014 Fit is $14,635. Add air conditioning and an automatic tranny and the price climbs to $17,245. But you might be able to get a deal on the 2014 models when the 2015 Fit hits dealerships this summer.
In Pictures: A first look at the 2015 Honda Fit
3. Ford Fiesta
The Ford Fiesta sedan offers distinct European flare at an affordable price. The base model is $14,499, which includes power door locks, manual windows, and a driver’s knee airbag. Add $1,200 for air conditioning. Its funky colours, including blue candy, ruby red, and green envy, are a bonus for any fashionista. Plus, it’s fuel efficient, averaging 5.2 litres/100 km on the highway.
4. Fiat 500
The Fiat 500 is an Italian icon, oozing pizzazz and flair. You can chose between 15 shades of exterior colours such as Rame (aka copper), six different wheels and 11 interior trim combinations. The base “Pop” model is $13,495 and includes power windows, locks, and mirrors, and an AM/FM/CD player. Moving up to the “Sport” model at $16,495 adds air conditioning and a leather steering wheel with audio and cruise control functions.
5. Kia Soul
The Kia Soul is a hot little hatch with character, space, and headroom worthy of the Sistine Chapel thanks to its tall, boxy design. At $16,995, the Soul comes well-equipped with fog lights, steering wheel audio controls, power windows, doors, and locks, and a tilt-and-telescopic steering wheel. Up the ante by adding heated seats, air conditioning, remote keyless entry, and bigger 16-inch alloy wheels for $18,695.
6. Chevy Spark
The made-in-Korea Chevy Spark is a cheap little runabout, starting at $11,945. Sure the base LS trim is pretty basic, but it does come with 10 airbags and a Top Safety Pick designation from the U.S. Insurance Institute for Highway Safety - a plus for parents concerned about their kids’ safety. Add a continuously variable automatic transmission and air conditioning and the price climbs to $14,895.
7. Hyundai Accent
At $13,549, the Hyundai Accent sedan comes standard with anti-lock brakes, electronic brake force distribution, electronic stability control, traction control, and vehicle stability management – safety items you’d expect to pay extra for. Air conditioning adds another $2,125.95 to the base price. Instead, consider a mid-level GL with a 6-speed auto, heated front seats, air conditioning, cruise control, and a telescopic steering wheel for $17,299.
Two rear doors on the Mazda2 hatch make it a cinch to enter and exit the back seats without disturbing the driver. The 1.5 litre 4-cylinder engine with 100 ponies is sporty and fun to drive. It starts at $14,450 and includes power windows, door locks, and mirrors. An $895 Convenience Package and adds remote keyless entry, a trip computer, and steering wheel mounted cruise and audio controls.
9. Toyota Yaris 3-door hatch
The Yaris is anything but small on the inside. For $14,255, the Yaris 3-door hatchback and comes with many standard safety features including nine standard airbags, vehicle stability control, traction control, and anti-lock brakes. But stick with the base model five-speed manual gearbox. You’ll save a grand by learning to drive a stick.
10. Volkswagen Jetta
If you’ve dreamed of owning a German vehicle but can’t afford an Audi, BMW, or Mercedes, the next best thing is a Volkswagen Jetta for $14,990. The base Trendline model doesn’t come with floor mats, air conditioning, heated seats, or cruise control. To add those features, choose the $17,190 Trendline+ trim. It’s still a fraction of the price of a higher-end German ride and is fun to drive, especially with a manual transmission.