It’s been a tough year for new vehicle sales due to the pandemic, but they haven’t halted completely and used car sales have taken up some of the slack. In short, there are still buyers out there.
Given the current state of the economy, some of those shoppers may be looking to get something that’s a little less expensive. However, plenty of studies show that buyers demand a lot of their new vehicles — even those on that are on the lower end of the pricing scale.
Fortunately, if you’re in the market for a lower priced new or used vehicle, there are plenty of options that have, well, plenty of options.
There are some resources available to help you whittle down the best selections, even for those looking to spend less than $20,000. Edmunds.com and their car shopping experts released their list of the top new and used vehicles for less than $20K.
Some will be expected, but others may present a pleasant surprise. The lists vehicle not only focus on pricing, but also apply “a combination of Edmunds’ expert ratings and consumer reviews on Edmunds,” the company noted.
“With new and used vehicle prices on the rise, it might seem increasingly more difficult for car shoppers to find a well-regarded car or SUV for under $20,000,” said Alistair Weaver, Edmunds’ editor-in-chief. “But if you’re on the hunt for budget-friendly personal transportation during the pandemic, the good news is that these vehicles do still exist—you just need to know where to look.”
Here are the top choices as determined by the aforemetioned criteria, starting with Edmunds Editors’ Picks for New Cars Under $20,000:
- 2020 Kia Forte: $18,855 starting MSRP
- 2020 Subaru Impreza: $19,595 starting MSRP
- 2020 Volkswagen Jetta: $19,815 starting MSRP
Edmunds Editors’ Picks for New SUVs Under $20,000
- 2020 Kia Soul: $18,610 starting MSRP
- 2020 Hyundai Kona: $21,440 starting MSRP
- 2020 Honda HR-V: $22,040 starting MSRP
While plenty of folks love a new vehicle, the pandemic has caused some new vehicles to become tough to find at the equipment trim levels they desired. After a run-up on used car prices earlier this year, they’ve fallen back to more affordable levels.
This combination has made used vehicles a popular option for those looking to get what they want at the price they can afford.
Edmunds Editors’ Picks for Used Cars Under $20,000
- 2018 Honda Accord
- 2016 Ford Mustang
- 2017 BMW 3 Series
Edmunds Editors’ Picks for Used SUVs Under $20,000
- 2018 Mazda CX-5
- 2016 Ford Edge
- 2016 BMW X3
“As consumers seek more cost-effective options while shopping, used vehicles continue to show strong recovery, up 9% year-over-year and roughly in line with June,” noted Nick Woolard, director of OEM and Affinity Partner Analytics at TrueCar.
“Lower than average inventory levels on new cars as well as economic uncertainly may be causing some consumers to opt for used vehicles,” he added. “TrueCar marketplace data shows similar trends, with 11% of consumers who connected with dealers for pricing on a new vehicle ultimately purchasing a used vehicle. This is up 31% versus July 2019.”