In tough economic times, it can be difficult for consumers to purchase luxury goods, especially an expensive car. Thankfully, in recent years the market has shifted away from high-priced luxury sports cars and more toward compact, energy-efficient, utilitarian models. Car manufacturers have responded by increasing gas mileage and slashing prices. There are a variety of options out there for those hoping to purchase a new car on a budget. Here are a few options that retail for under $20,000 brand new.The Fiat 500 is one option out there for drivers looking for a stylish option while staying on a budget. The Italian carmaker has made a comeback in recent years, with the 500 being its signature model. The compact design and posh interior set this one apart from its competitors, and with a MSRP of around $17,000, the car is affordable on nearly any budget.
Another option is the Chevrolet Sonic. Chevrolet has come back from the brink of bankruptcy by focusing more on economical models, and the Sonic is no exception. The car features a 4-cylinder engine and will help save money on gas, as it receives nearly 25 miles per gallon. The car is available in a variety of colors and starts at only around $14,000.
Lastly, it is hard to mention affordable cars without discussing the one that started the green car revolution – the Toyota Prius. Although the price has gone up in recent years, the car still remains affordable, with an MSRP of around $18,000, and is available in a completely electric model to eliminate gas entirely.