For dealerships, in order for them to make room for the next year’s inventory, they need to get rid of their old inventory to make space, and many times they’ll even take a loss and sell the older cars for cheap to do so. Now is a perfect time to start looking as dealerships are preparing for a new crop of 2024 cars, 2024 models are now "yesterday's news".
Effective Strategies for Finding Cheap New SUVs
Start with broad research online and in local dealerships to understand the market better. Consider manufacturer websites, car sales websites, and automobile review sites. Keep an eye on the manufacturer's suggested retail price (MSRP), but understand that the final price can often be negotiated lower.
Look for rebates, discounts, and financing deals. Many automakers offer discounts and incentives, especially towards the end of the model year. Dealerships will also often have financing offers that can save you money in the long run.
Consider previous model years. Dealerships are eager to move older inventory, especially if a new model year is about to be released. You may be able to get a great deal on a new SUV that is a year or two old.
10 Affordable New SUVs Under $20,000
Let's take a closer look at 10 new SUVs that are currently available in the United States for under $20,000. These models strike a balance between affordability, quality, and feature-rich offerings.
Hyundai Venue
Starting price: $19,250
Engine: 1.6L 4-cylinder
Horsepower: 121 hp
Fuel economy: 27 mpg city/32 mpg highway
Features: Apple CarPlay and Android Auto, 5-inch touchscreen display, Bluetooth, rearview camera
Kia Soul
Starting price: $19,990
Engine: 2.0L 4-cylinder
Horsepower: 147 hp
Fuel economy: 24 mpg city/29 mpg highway
Features: Apple CarPlay and Android Auto, 7-inch touchscreen display, Bluetooth, rearview camera, UVO infotainment system
Chevrolet Trax
Starting price: $19,995
Engine: 1.4L turbocharged 4-cylinder
Horsepower: 138 hp
Fuel economy: 25 mpg city/32 mpg highway
Features: Apple CarPlay and Android Auto, 7-inch touchscreen display, Bluetooth, rearview camera, Teen Driver system
Nissan Kicks
Starting price: $19,990
Engine: 1.6L 4-cylinder
Horsepower: 125 hp
Fuel economy: 31 mpg city/35 mpg highway
Features: Apple CarPlay and Android Auto, 7-inch touchscreen display, Bluetooth, rearview camera, NissanConnect infotainment system.
Ford EcoSport
Starting price: $19,995
Engine: 1.6L 4-cylinder
Horsepower: 123 hp
Fuel economy: 23 mpg city/30 mpg highway
Features: Apple CarPlay and Android Auto, 6.5-inch touchscreen display, Bluetooth, rearview camera, Ford Co-Pilot360 safety suite
Mitsubishi Outlander Sport
Starting price: $19,995
Engine: 1.5L turbocharged 4-cylinder
Horsepower: 168 hp
Fuel economy: 24 mpg city/30 mpg highway
Features: Apple CarPlay and Android Auto, 7-inch touchscreen display, Bluetooth, rearview camera, blind spot monitoring
Kia Rio X-Line
Starting price: $18,090
Engine: 1.6L 4-cylinder
Horsepower: 120 hp
Fuel economy: 27 mpg city/36 mpg highway
Features: Apple CarPlay and Android Auto, 8.0-inch touchscreen display, Bluetooth, rearview camera, UVO infotainment system
Hyundai Kona
Starting price: $18,150
Engine: 2.0L 4-cylinder
Horsepower: 147 hp
Fuel economy: 25 mpg city/32 mpg highway
Features: Apple CarPlay and Android Auto, 7-inch touchscreen display, Bluetooth, rearview camera, Hyundai SmartSense safety suite
Nissan Sentra
Starting price: $18,990
Engine: 2.0L 4-cylinder
Horsepower: 149 hp
Fuel economy: 28 mpg city/37 mpg highway
Features: Apple CarPlay and Android Auto, 7-inch touchscreen display, Bluetooth, rearview camera, Nissan Safety Shield 360 safety suite
Mazda CX-3
Starting price: $18,600
Engine: 2.0L 4-cylinder
Horsepower: 155 hp
Fuel economy: 25 mpg city/32 mpg highway
Features: Apple CarPlay and Android Auto, 7-inch touchscreen display, Bluetooth, rearview camera, blind spot monitoring
Conclusion
Affordable new SUVs are not as elusive as they might seem. With a little bit of research, understanding of the market, and patience, you can find a quality SUV that fits your needs and your budget. The five SUVs listed above, all under $30,000, are excellent examples of the value that can be found in the current market. Remember, when car shopping, patience and knowledge are your greatest tools.