Five years ago, there were a number of new cars available for less than $20,000. But that was then and this is now.
- Today, there’s only one new vehicle that sells for less than 20 G’s: The Mitsubishi Mirage.
- It’s selling for $19,205, which means with taxes and fees, it’s likely going to cost more than $20,000 anyway, according to data from Cox Automotive. Still, it undercuts other new cars by at least half; the average vehicle price in the U.S. is currently $48,000 – which is 25% higher than it was before the pandemic started, the Associated Press reports. What’s more is 32 models are now selling in the United States for more than $100,000 – up from only 12 models in 2018, Cox reveals.
- If you’re thinking you’ll get a better deal is you buy used, think again.
- A used vehicle in the U.S. sells for an average of $29,000 – making it more expensive than a brand new Mirage, data indicates.