The Top 10 Cheapest New Cars of 2010

I’m not an advocate for buying new vehicles versus used. However, there is some merit in buying an extremely cheap new car and driving it until it’s time to take it behind the woodshed and put it out of its misery.

That being said, below is a list of the 10 cheapest vehicles of 2010 (from most to least expensive), based on MSRP. If you only buy used, go out and get one of these models in 3 years as their resale values are typically only about half of MSRP.

Foreign Automakers Dominate The List of Cheapest Vehicles

You’ll find that foreign automakers swept the list: Nissan (2), Scion (2), Toyota (1), Hyundai (1), Kia (3), and Honda (1). At these prices, the 2011 Ford Fiesta would jump in at the #5 spot next year at a price of $15,065 for the automatic s sedan model. It would also be the most fuel efficient with 30 mpg city and 40 mpg highway.

I decided to include only the automatic transmission versions of the models to compare apples to apples (sorry stick shift lovers). All associated costs are included. Sources include Vincentric, kbb.com, Edmunds.com, fueleconomy.gov, and each automaker’s website.

My Picks for Best Cheapest Vehicle of 2010

Based on price, aesthetics, and reputation, my money is on the Kia Soul, Nissan Versa, or Honda Fit. I’d stay away from Toyota and any of their brands, including Scion, at the moment. Next year, I’d put my money on the Fiesta. I’ve really been impressed with the quality of vehicles that Ford has been putting out lately.

10. Nissan Cube S 4dr hatch

Suggested retail price: $16,750
Dealer cost: $16,181
New Car Blue Book Value: $NA
5-year maintenance cost: $2,210
5-year repair cost: $916
Total 5-year service cost: $3,126
1-year insurance cost: $931
3-year resale value: NA%
5-year resale value: NA%
City MPG: 28
Highway MPG: 30
1-year fuel cost: $1,480
Powertrain warranty: 5 years, 60,000 miles
Limited basic warranty: 3 years, 36,000 miles

9. Scion xB 4dr hatch

Suggested retail price: $16,420
Dealer cost: $15,632
New Car Blue Book Value: $16,420
5-year maintenance cost: $2,134
5-year repair cost: $924
Total 5-year service cost: $3,058
1-year insurance cost: $961
3-year resale value: 60%
5-year resale value: 42%
City MPG: 22
Highway MPG: 28
Powertrain warranty: 5 years, 60,000 miles
Limited basic warranty: 3 years, 36,000 miles
1-year fuel cost: $1,755

8. Honda Fit 4dr hatch

Suggested retail price: $16,410
Dealer cost: $15,858
New Car Blue Book Value: $16,410
5-year maintenance cost: $1,638
5-year repair cost: $916
Total 5-year service cost: $2,554
1-year insurance cost: $941
3-year resale value: 59%
5-year resale value: 40%
City MPG: 28
Highway MPG: 35
1-year fuel cost: $1,389
Powertrain warranty: 5 years, 60,000 miles
Limited basic warranty: 3 years, 36,000 miles

7. Scion xD 4dr hatch

Suggested retail price: $16,270
Dealer cost: $15,490
New Car Blue Book Value: $NA
5-year maintenance cost: $2,055
5-year repair cost: $916
Total 5-year service cost: $2,971
1-year insurance cost: $941
3-year resale value: 56%
5-year resale value: 40%
City MPG: 27
Highway MPG: 33
1-year fuel cost: $1,453
Powertrain warranty: 5 years, 60,000 miles
Limited basic warranty: 3 years, 36,000 miles

6. Kia Rio LX 4dr

Suggested retail price: $15,390
Dealer cost: $14,895
New Car Blue Book Value: $NA
5-year maintenance cost: $2,147
5-year repair cost: $770
Total 5-year service cost: $2,917
1-year insurance cost: $899
3-year resale value: NA%
5-year resale value: NA%
City MPG: 27
Highway MPG: 36
1-year fuel cost: $1,405
Powertrain warranty: 10 years, 100,000 miles
Limited basic warranty: 5 years, 60,000 miles

5. Kia Forte LX 4dr

Suggested retail price: $15,390
Dealer cost: $15,105
New Car Blue Book Value: $15,390
5-year maintenance cost: $2,300
5-year repair cost: $965
Total 5-year service cost: $3,265
1-year insurance cost: $938
3-year resale value: 45%
5-year resale value: 28%
City MPG: 25
Highway MPG: 34
1-year fuel cost: $1,506
Powertrain warranty: 10 years, 100,000 miles
Limited basic warranty: 5 years, 60,000 miles

4. Kia Soul 4dr hatch

3Suggested retail price: $13,995
Dealer cost: $13,450
New Car Blue Book Value: $13,995
5-year maintenance cost: $2,361
5-year repair cost: $965
Total 5-year service cost: $3,326
1-year insurance cost: $929
3-year resale value: 54%
5-year resale value: 37%
City MPG: 26
Highway MPG: 31
1-year fuel cost: $1,524
Powertrain warranty: 10 years, 100,000 miles
Limited basic warranty: 5 years, 60,000 miles

3. Toyota Yaris 2dr hatch

Suggested retail price: $13,905
Dealer cost: $13,247
New Car Blue Book Value: $13,905
5-year maintenance cost: $2,231
5-year repair cost: $916
Total 5-year service cost: $3,147
1-year insurance cost: $914
3-year resale value: 54%
5-year resale value: 37%
City MPG: 29
Highway MPG: 35
1-year fuel cost: $1,360
Powertrain warranty: 5 years, 60,000 miles
Limited basic warranty: 3 years, 36,000 miles

2. Hyundai Accent GS 2dr hatch

Suggested retail price: $13,715
Dealer cost: $13,380
New Car Blue Book Value: $13,715
5-year maintenance cost: $NA
5-year repair cost: $NA
Total 5-year service cost: $NA
1-year insurance cost: $NA
3-year resale value: 41%
5-year resale value: 24%
City MPG: 27
Highway MPG: 36
1-year fuel cost: $1,405
Powertrain warranty: 10 years, 100,000 miles
Limited basic warranty: 5 years, 60,000 miles

1. Nissan Versa 4 Door

Suggested retail price: $12,710
Dealer cost: $12,423
New Car Blue Book Value: $12,710
5-year maintenance cost: $2,222
5-year repair cost: $1146
Total 5-year service cost: $3,368
1-year insurance cost: $883
3-year resale value: 53%
5-year resale value: 31%
City MPG: 26
Highway MPG: 33
1-year fuel cost: $1,487
Powertrain warranty: 5 years, 60,000 miles
Limited basic warranty: 3 years, 36,000 miles

Cheap Car Discussion:

• Do you own any of these vehicles? If so, would you recommend it or not?
• Do you only buy used or new vehicles? Why?
• Any automaker, including Ford, that you’d recommend or urge to stay away from?
• Has the recent series of Toyota recalls changed your views of Toyota?

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