The Best New Cars for the Money for 2024

Highlights:

• The Mitsubishi Mirage’s extremely low $18,991 starting price and 172,784-mile average lifespan make it the best new car for value-conscious buyers

• Compact cars make up six of the top 10 rankings, with the Mirage, Toyota Corolla, Subaru Impreza, Honda Accord and Honda Civic taking the first five slots

• The most prominent brand in the top 25 cars is Toyota, with seven models, followed by Honda and Subaru, each with four models

• Only five of the top 25 cars come from non-Japanese brands, represented by the Volkswagen Jetta, Chevrolet Malibu, Hyundai Elantra, Ford Escape, and Hyundai Tucson 

• On average, a new car costs $2,779 for every 10,000 miles of lifespan it provides, but all top 10 best new cars for the money cost less than $1,700 per 10,000 miles of lifespan

Automotive value can be defined in a number of ways, but for buyers seeking the longest vehicle lifespan at the lowest price, the Mitsubishi Mirage offers the best new car value. The average new car costs $2,779 for every 10,000 miles of lifespan it provides, but the Mirage only costs $1,099 for each 10,000 miles it offers. The Toyota Corolla ranks second best at $1,374, followed by the Subaru Impreza at $1,409, the Honda Accord at $1,432, and the Honda Civic at $1,531. 

iSeeCars analyzed the prices of over 8.3 million new cars sold in September - December 2023 and the odometer readings of over 181 million used cars from its Longest Lasting Cars Study to determine the rankings for the best new cars for the money for 2024.

“New car prices keep climbing, which makes finding the highest value models more important than ever for buyers,” said iSeeCars Executive Analyst Karl Brauer. “By identifying cars that combine the lowest purchase price with the longest lifespan, we’re helping consumers who want to maximize their car-buying budget.”

The 25 best new cars for the money for 2024

Toyota makes a strong showing, with seven of the top 25 best cars for the money. Honda and Subaru each offer four models, while Hyundai, Mazda, and Nissan all have two models in the top 25. Chevrolet, Ford, Mitsubishi and Volkswagen make the list with one model each, though Mitsubishi does hold the number one spot. 

“With the mix of brands and vehicle types ranking in the top 25, there’s really something for everyone searching for strong new-car value,” said Brauer. “The tiny subcompact Mirage and Versa are counterbalanced by the three-row Mazda CX-9 crossover, with plenty of midsize SUVs, and even two trucks in between.”

Best small SUVs for the money

The average small SUV costs $2,100 for every 10,000 miles of lifespan, but six models cost less, reflecting better-than-average value. Honda’s CR-V leads the segment, with the Subaru Forester and Outback making the top three.

“These six SUVs are among the best-selling models in the U.S., suggesting consumers have recognized their excellent value proposition,” said Brauer.

Best midsize SUVs for the money

In the popular midsize SUV category, 10 brands contribute to the 14 models boasting better-than-average value. Toyota leads with three models, followed by Lexus with two, then Acura, Ford, GMC, Honda, Hyundai, Kia, Mazda, and Nissan with one each.

"Both luxury and mainstream brands offer strong value in the midsize SUV category,” said Brauer. “If you’ve got a favorite SUV brand it’s probably represented in this segment.”

Best full-size SUVs for the money

Large SUVs experience some of the most demanding use cases of any vehicle type, which makes durability even more important when shopping in this category.

“Large SUVs require a large budget, with the average model costing over $4,400 for every 10,000 miles of lifespan,” said Brauer. “But these are also some of the longest-lasting vehicles you can buy, so if you can afford the upfront cost they should provide between 150,000 and 200,000 miles of service.”

Best small cars for the money

Compact cars offer the lowest starting price for new-car shoppers, yet all of these cars have an average lifespan of more than 125,000 miles, with more than a few approaching 200,000 miles.

“With their low prices and relatively long lifespans, small cars are excellent candidates for shoppers seeking value,” said Brauer. “These aren’t the most spacious or luxurious cars on the market, but their long list of standard equipment makes them a compelling option, especially for new-car buyers on a limited budget.”