Even with average new car prices hovering around $50,000, automakers still offer plenty of models for under $30,000 Plenty of major automakers are selling cars priced below $30,000 this year. So why does it feel so hard for a cost-conscious buyer to find an affordable car right now? For one, consumers burdened by the high cost of gas, insurance and maintenance are driving up demand for those low-cost cars, industry experts say.
Cheaper cars are selling more quickly as a result, leaving buyers with fewer options. There was a 63-day supply of vehicles priced below $30,000 in September, according to Cox Automotive, meaning it would take that many days to sell out of the vehicles currently in stock. That’s 48 days less than for cars that cost more than $80,000.
The rise (and risks) of Buy Now Pay Later Play video: The rise (and risks) of Buy Now Pay Later “The lower the days’ supply, the less negotiable it is for the consumer — the more of a seller’s market it is,” said Zach Shefska, chief executive of the car-buying site CarEdge. I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time.
As automotive analyst Lauren Fix puts it: “If you’re selling hamburgers and expensive steaks, the hamburgers are going to sell a lot faster.” **Read more:**Young Americans are giving up on car ownership. It’s a path to financial freedom for some. Inventory also varies greatly by brand.
The supply of Toyota and Honda vehicles, for example, was just 35 and 48 days, respectively, in September, while Jeep had a 169-day supply and Buick had a 124-day supply, according to Cox. Because of these inventory constraints, Shefska said buyers have a better chance at getting their hands on a Jeep, Nissan or Mazda , all of which offer 2026 or 2027 models with starting prices below $30,000: There are a few electric models at that price point, as well. The 2026 Nissan Leaf has a starting price of $29,990, and the 2027 Chevrolet Bolt starts at $28,995. **Read more:**Is that used EV worth the price?
This checklist could save you thousands of dollars. Because consumers looking for cheaper cars have less negotiating power right now, Shefska said, it’s more important than ever to shop around at multiple dealerships. A model that’s sold out at one dealership could be available somewhere else, so he recommends looking in different locations as well as online.
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