Cheapest New Cars You Could Buy in 2015
Price is not the only thing about buying a cheap new car. You will also want to consider all the ownership costs associated with the vehicle.
Several models in 2015 were worth considering if a low starting price was essential to you. Many of them also get good gas mileage, which will help you keep your ownership costs down for the duration of your ownership.
Table of Contents
Cost of New Car Ownership
One ownership cost you can control right away is insurance. What rate you pay is generally based on several factors, including miles, age, driving record, gender, where you live, and credit rating.
Vehicles are also rated differently; vehicles with lower repair costs or claim histories typically have cheaper insurance premiums.
New sports cars attract young and aggressive drivers, and luxury vehicles have higher repair costs. These types of vehicles will typically always have higher insurance rates. Some compacts, sedans, crossover SUVs, and minivans have the cheapest insurance rates available.
Many dealers will significantly discount new cars not selling on their lot to entice new car shoppers to buy. Choosing a new vehicle based on a low price, only to save a few dollars upfront, can cost you more money over time.
You must be cautious and look for vehicles that depreciate much quicker over time. This is also true with cars that cost more to maintain, consume more fuel, or cost more to insure.
Ownership Costs You Can Control
1) Figure out where you’re at – Safely pull over to the side of the road and use your vehicle’s navigation system or smartphone to locate the nearest gas station. Many map apps and other apps help find gas stations and other essential business establishments. The American Automobile Association (AAA) has a great app available.
2) Turn off the air conditioner – You should turn off the A/C as soon as possible. It relieves the engine of additional load, which saves fuel. When the A/C system is running, it puts an extra burden on the alternator, which uses more energy to power the engine.
3) Roll up all of your windows – I know we just told you to turn off your air conditioner. You close all your windows to reduce wind resistance and drag. If you’re going to complain it’s too hot with the windows up and A/C turned off, how hot and tired will you be when pushing your car to the nearest gas station?
Keep your windows rolled up to reduce wind resistance. We know, but yes, you have to turn off the A/C and keep the windows rolled up. It would help if you thought of that before your tank got low.
4) Slow down immediately if possible – Studies have shown that a vehicle’s optimal speed of 35 to 45 mph is the most fuel-efficient. You must abide by traffic laws if you’re on a highway or interstate. Remember the tortoise and the hare. Slow and steady will win the race. Don’t speed up to get to the gas station quicker. The faster you go, or quicker you accelerate burns more fuel at a quicker rate.
5) Turn off any accessories – This one coincides with number two above. The fuel savings may be small, but turning off your stereo and unplugging any electrical devices (charging phones, iPads, tablets) could make the difference of a couple of thousand feet to the nearest fuel pump.
6) Coast using the lay of the land – This does not mean shutting the engine completely off. If you find yourself going downhill, shift the car into neutral to give your engine a little break. Shifting your vehicle into neutral will still use your power steering, making it easier to maneuver and handle the car.
There is no standard in the industry mandating automakers to provide you with a certain amount of mileage before your car runs out of gas. The golden rule is that once your low-level fuel light illuminates, you have roughly 40 miles before you become stranded on the side of the road.
Suppose you’re the type of person who loves to live on the edge by seeing how far you can push your vehicle to empty. Try doing this to narrow down your estimate of how far you can drive after your low gas light comes on:
Methodology
As stated above, finding the least expensive vehicle to own is not just by looking for the lowest sticker price. I’ve also included the following information in this list:
- Factory invoice price (You may be able to buy the vehicle even cheaper, do your homework first)
- Manufacturer Suggested Retail Price (MSRP) Never pay this amount for a vehicle.
- Fuel Economy (city and highway MPG)
- Manufacturer warranty information
- Annual fuel cost as per fueleconomy.gov ($2.55 per gallon, 15,000 miles a year, 45% City / 55% Hwy)
- Vehicles listed have the base automatic transmission. Some of the listed cars do not have the option for a manual transmission. If they do, they’re hard to sell, find, or don’t come with A/C. If you can opt for a manual transmission, statistics show it can save you anywhere from $800 to $1,200 annually.
If you’re a new car shopper wanting to get a vehicle that’s cheap, affordable, and inexpensive to own, you may want to consider one of the vehicles on my top 10 list below.
Top 10 Cars You Could Have Bought in 2015
#10 – 2015 Toyota Yaris L 3 Door (Lift-back | Hatchback)
- MSRP: $16,395
- Factory Invoice: $16,111
- MPG: 30 City | 36 Hwy
- Annual Fuel Cost: $1,200
- Engine: 1.5L 4 Speed Automatic Transmission, 106 HP, 16-valve, 4-cylinder
- Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles
#9 – 2015 Mazda 2 Sport 4 Door Hatchback
- MSRP: $16,364
- Factory Invoice: $16,355
- MPG: 28 City | 34 Hwy
- Annual Fuel Cost: $1,300
- Engine: 1.5L 4 Speed Automatic Transmission 16-valve, 4 cyl, 100 HP
- Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 100,000 miles
#8 – 2015 Chevrolet Sonic LS 4 Door Sedan
- MSRP: $16,320
- Factory Invoice: $16,243
- MPG: 25 City | 35 Hwy
- Annual Fuel Cost: $1,350
- Engine: 1.8L 6 Speed Automatic Transmission 138 HP, 16-valve, 4 cylinder
- Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 100,000 miles
#7 – 2015 Scion IQ 2 Door Hatchback
- MSRP: $16,315
- Factory Invoice: $15,663
- MPG: 36 City | 37 Hwy
- Annual Fuel Cost: $1,050
- Engine: 1.3L Continuously Variable Automatic Transmission (CVT) 93 HP, 16 valve, 4 cyl.
- Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles
#6 – 2015 Kia Rio LX 4-Door Sedan
- MSRP: $15,940
- Factory Invoice: $15,632
- MPG: 27 City | 37 Hwy
- Annual Fuel Cost: $1,250
- Engine: 1.6L 6 Speed Automatic Transmission 138 HP, 16-valve, 4 cylinder
- Warranty: Basic 5 years or 60,000 miles | Powertrain 10 years or 100,000 miles
#5 – 2015 Ford Fiesta S Sedan, 4 Door
- MSRP: $15,885
- Factory Invoice: $15,124
- MPG: 27 City | 37 Hwy
- Annual Fuel Cost: $1,250
- Engine: 1.6L 6 speed automatic transmission 120 HP, 16 valve, 4 cyl.
- Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles
#4 – 2015 Mitsubishi Mirage DE CVT, 4-Door Hatchback
- MSRP: $14,890
- Factory Invoice: $14,583
- MPG: 37 City | 44 Hwy
- Annual Fuel Cost: $950
- Engine: 1.2L Continuously Variable Automatic Transmission (CVT) 74 HP, three-cylinder
- Warranty: Basic 5 years or 60,000 miles | Powertrain 10 years or 100,000 miles
#3 – 2015 Chevrolet Spark LS 4 Door Hatchback
- MSRP: $14,405
- Factory Invoice: $14,269
- MPG: 30 City | 39 Hwy
- Annual Fuel Cost: $1,100
- Engine: 1.2L 4 Speed Automatic Transmission 84 HP, 16-valve, 4 cylinder
- Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 100,000 miles
#2 – 2015 Nissan Versa Sedan 1.6S, 4 Door
- MSRP: $14,315
- Factory Invoice: $14,117
- MPG: 26 City | 35 Hwy
- Annual Fuel Cost: $1,300
- Engine: 1.6L 4 speed automatic transmission 109 HP, 16 valve, 4 cyl.
- Warranty: Basic 3 years or 36,000 miles | Powertrain 5 years or 60,000 miles
#1 – 2015 Smart ForTwo Pure Coupe
- MSRP: $14,020
- Factory Invoice: $13,171
- MPG: 34 City | 38 Hwy
- Annual Fuel Cost: $1,250
- Engine: 1.0L 5 Speed Automatic Transmission (CVT) 12 value, 70 HP, 3 cylinder
- Warranty: Basic 4 years or 50,000 miles | Powertrain 4 years or 50,000 miles
In the Market for a New Car?
If you’re in the market for a “cheap-to-own” new car, I recommend using a free online referral service such as Ryde Shopper and Motor Trend to guarantee you pay the lowest price. These free services are the best way to do your car shopping online.
These services will provide you with several quotes from local dealerships in your area. They’ll also provide valuable information on what other people are paying for the vehicle you’re considering and which local dealers are providing the best discounts from MSRP.
Suppose you have no idea where to start the car buying process. Use my free new car buying cheat sheet for a step-by-step guide on buying a new car online, getting a great deal, and avoiding dealer scams.
About the author
My name is Carlton Wolf, and I’ve been in the car business since 1994, both retail and wholesale. I created the Auto Cheat Sheet to better educate buyers about the deceptive sales practices used by many dealerships throughout the country. Please understand that not all car dealers are dishonest. However, you never know who you’ll be dealing with, though. I’m willing to share my knowledge and experience with anyone who listens. Keep in mind that I’m a car guy, not a writer.
