Believe it or not, you can still buy a new car in the United States for under $14,000. The least expensive option on the market is the $11,990 Nissan Versa, a car that Car and Driver says, “has insultingly flimsy materials” along with a 109-hp 1.6-liter engine that makes for slow acceleration but gives reasonably good fuel efficiency.
Most of us opt to buy more car than what the Versa has to offer, but that ultra-low price is appealing to budget-conscious shoppers. If the Versa is too “flimsy,” buyers can step up to something like the $14,000 Ford Fiesta.
Once the car is purchased, it can be driven for many years with no further finance costs, which is one of the benefits of buying a car outright.
A 24-month finance term on a $14,000 car, at 3.11 percent interest, is about $600. For the same price you could drive one of the most desirable luxury cars on the market: An all-electric Tesla.