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Toyota and Honda offer many affordable models. This financial accessibility is very appealing, especially in times of high inflation. However, the cheapest new car in 2023 isn’t a Toyota or Honda. It’s the 2023 Nissan Versa subcompact sedan. The Versa is the lowest-priced model available. 

The cheapest new car in 2023 is the 2023 Nissan Versa

2023 Nissan Versa, cheapest new car in 2023, not a Toyota or Honda, parked in front of building
2023 Nissan Versa | Nissan

The 2023 Nissan Versa starts at just $15,830 MSRP, which makes it the cheapest new car in 2023. If you’re looking for the least expensive new vehicle in the United States, then the budget-friendly Nissan subcompact is the way to go.

View the 10 cheapest new cars in 2023:

  1. 2023 Nissan Versa: $15,830 MSRP
  2. 2023 Mitsubishi Mirage: $16,245 MSRP
  3. 2023 Kia Rio: $16,750 MSRP
  4. 2023 Hyundai Venue: $19,650 MSRP
  5. 2023 Kia Forte: $19,690 MSRP
  6. 2023 Subaru Impreza: $19,795 MSRP
  7. 2023 Kia Soul: $19,890 MSRP
  8. 2023 Nissan Sentra: $20,050 MSRP
  9. 2023 Nissan Kicks: $20,440 MSRP
  10. 2023 Hyundai Elantra: $20,950 MSRP

Along with the Versa being the cheapest new car, two other Nissan models make the affordability top 10 list. This includes the Sentra compact sedan ($20,050 MSRP) and the Kicks subcompact SUV ($20,440 MSRP). Also, as you can see, no Toyota or Honda models are on the list.

Nissan vs. Toyota and Honda for affordability

Woman driving 2023 Nissan Versa, most affordable new car in 2023, not a Toyota or Honda
2023 Nissan Versa | Nissan

So, what are the cheapest new Toyota and Honda cars — and how do their prices compare to Nissan vehicles? For Toyota, the most affordable new model is the 2023 Corolla compact sedan, which starts at $21,550 MSRP.

Here are the five least expensive new Toyota cars in 2023: 

  1. 2023 Toyota Corolla: $21,550 MSRP
  2. 2023 Toyota Corolla Hatchback: $22,965 MSRP
  3. 2023 Toyota Corolla Cross: $23,060 MSRP
  4. 2023 Toyota Camry: $26,220 MSRP
  5. 2023 Toyota Prius: $27,450 MSRP

Next, let’s take a look at Honda affordability. The cheapest new vehicle in the Honda lineup is the 2023 Civic compact sedan, which has a starting price of $23,450 MSRP. 

View the most affordable new Honda models in 2023:

  1. 2023 Honda Civic: $23,450 MSRP
  2. 2023 Honda HR-V: $23,800 MSRP
  3. 2023 Honda Civic Hatchback: $24,450 MSRP
  4. 2023 Honda Accord: $27,295 MSRP
  5. 2023 Honda CR-V: $28,410 MSRP

And now, see the top five for Nissan affordability:

  1. 2023 Nissan Versa: $15,830 MSRP
  2. 2023 Nissan Sentra: $20,050 MSRP
  3. 2023 Nissan Kicks: $20,440 MSRP
  4. 2023 Nissan Altima: $25,490 MSRP
  5. 2023 Nissan Rogue: $27,360 MSRP

As you can see, overall, Nissan has a more affordable lineup of vehicles. This includes three models that cost under $21K. However, for Toyota, the cheapest you can get is $21,550 MSRP for the Corolla. And for Honda, there isn’t any model below $23K — with the Civic starting at $23,450 MSRP.

2023 Nissan Versa: Affordable choice for budget-minded car shoppers

In addition to overall affordability, part of the reason why the cost of the 2023 Nissan Versa is so low compared to Toyota and Honda models is these two automakers no longer sell subcompact cars in the U.S. Toyota used to offer the Yaris subcompact, but that was discontinued in the American market in 2020. Additionally, American drivers used to be able to get the Honda Fit subcompact. However, Honda also axed the Fit in 2020 for the U.S. market.

So, for budget-minded automotive shoppers, the most affordable choice is the 2023 Nissan Versa. The subcompact sedan is the cheapest new car in 2023 — and considerably less expensive than anything that Toyota and Honda offer.

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Staff Writer, Producer - SUVs

Mark Putzer

With seven years of experience writing in the automotive industry prior to joining MotorBiscuit in 2021, Mark’s work can be found on dealership websites across North America. A Bachelor of Science degree in zoology from the University of Wisconsin-Madison sent Mark into the wilderness for environmental studies. Here, he discovered a passion for driving off-road trucks and SUVs off the beaten path.

During his extensive international travels, Mark developed an affinity for foreign cars and international automotive markets. Inspired by the industry-wide push toward environmentally-friendly EVs and hybrids, Mark covers topics about recent advances in the automotive industry, in addition to everything from off-road concepts to emerging EV technology.