It always amazes us here at LotPro.com how many people search for new cars under $10,000. There are a few base models that begin just under $10,000, the Nissan Versa, and the Hyundai Accent. From time to time the Chevy Aveo's base price, after a cash rebate, falls below $10,000.
It is unlikely, however, that many people will be able to buy these cheap new cars under 10000. The main reason for this is that most dealers do not stock these base cars and the manufacturers only produce a limited quantity of them so they can advertise new cars for $10,000 or less.
Another consideration when buying a new car is the total cost of ownership and the resale value. Each of the preceding are cars with 30 mpg or better, so expect to save money at the gas station. On the other hand, depending on your age and other factors, the money you save at the pump may be given away to the insurance company. Typically, these small subcompact cars cost more to insure and larger, more expensive vehicles.
When buying new cars under 10K also expect to have a low resale value. These new cars are base units with little or no comfort options. Automobiles like these are in low demand on the used car market.
Lastly, if you are able to find a new vehicle with a sales price under ten thousand dollars chances are, after adding tax, and other fees, the over the curb price would be a little more than the $10,000. A good alternative to buying a cheap new car would be to use our used car search engine to find a pre-owned vehicle with more options at a comparable price.