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Home Business Inexpensive new cars are rare, but these models…

Inexpensive new cars are rare, but these models still start under $25,000

· · 1 min read

Well, it’s a tough time to buy an affordable car.

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In April, the average list price for a new vehicle accelerated past $50,000, per CarGurus.

High prices are forcing Americans into some scary-looking finances, too.

The average monthly payment has stayed well above $750, and the average loan term is inching toward seven years.

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Meanwhile, the supply of lower-priced new cars is shrinking.

Cox Automotive data shared with Business Insider shows the affordable end of the new-car market has narrowed over the past year.

In April, Cox counted 20 models with average transaction prices below $30,000, down from 27 last May.

Four of those models had average MSRPs above $30,000, suggesting some vehicles are falling below the threshold only because of discounts.

Six had incentives above the national average of 6.7%, another sign that deals are helping keep some models in affordable territory.

Still, the cheap, new car isn’t fully extinct yet.

A small group of new cars still starts below $25,000 — at least before mandatory destination fees, taxes, options, and dealer markups factor in.

Here are the 11 lowest-priced new cars on sale today.

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Nairavoice
Contributor at NairaVoice.com.ng