Chainkeen Exchange-There's only 1 new car under $20,000. Here are 5 cars with the lowest average prices in US

As the average price for a new vehicle continues to rise every year,Chainkeen Exchange only one car still has a price tag under $20,000.

The Mitsubishi Mirage is the last new car with an average purchase price under $20,000, according to a Kelley Blue Book report. Other new cars have starting prices under $20,000, but the actual purchase price after options and shipping surpass the threshold, The Associated Press reported.

In July, the Mitsubishi Mirage’s average transaction price was $19,205, according to the report.

In July 2022, there were a dozen vehicles under $20,000.

Small vehicles including the Kia Rio, Nissan Versa, Hyundai Venue and Nissan Sentra all have an average purchase price over $20,000. In July, Americans paid about $48,000 for a new vehicle, the report said. 

Here are five new cars with the lowest average purchase prices in the U.S., according to Kelley Blue Book publisher Cox Automotive, AP reported.

New cars under $25,000

1. Mitsubishi Mirage: $19,205

2. Kia Rio: $20,157

3. Nissan Versa: $20,763

4. Hyundai Venue: $23,971

5. Nissan Sentra: $23,994

Is now the time to buy a car?:High sticker prices, interest rates have many holding off

Contributing: The Associated Press