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The Fit is slightly more expensive, but a much better car. The Versa has a sluggish feel, likely the Renault influence with the CVT, whereas the Fit is peppy and gets better fuel economy and I think the interior is very versatile for a subcompact. The Honda also retains value much better than the others in the segment, something to consider as you would want to reduce the exposure of negative equity for a longer term loan.
A base Kia Soul is in the $15k range, I believe, and a Kia Rio base is about $14k, MSRP, so you may find a good deal on one of those as well. The Fit is hard to beat, though, and has won awards with the 2015 redesign.
In terms of safety, based upon IIHS testing, I would eliminate the Nissan and Rio, but the Soul and Fit are Top Safety Picks.
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All the world's a stage, and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages.
~William Shakespeare (As You Like It Act II, Scene VII)
So, the 84-month car loan payment thread got me interested in seeing what was the cheapest new car out there ready for purchase. I assumed you couldn't find a base model car for less than $20,000, but I was wrong. The 2015 Nissan Versa, base model, I found for $12,495.
Now, I'm sure it's not a "fun" car to drive. It has as 1.5 liter 195 horse power engine in it, and it doesn't really get that great of gas mileage in the city (rated at around 26 miles/gallon.) But, it comes in either manual or auto transmission, and has Bluetooth!
Anybody have any experience with the Versa?
I highly doubt the base model Versa is getting 195 horsepower.
The Fit is slightly more expensive, but a much better car. The Versa has a sluggish feel, likely the Renault influence with the CVT, whereas the Fit is peppy and gets better fuel economy and I think the interior is very versatile for a subcompact. The Honda also retains value much better than the others in the segment, something to consider as you would want to reduce the exposure of negative equity for a longer term loan.
A base Kia Soul is in the $15k range, I believe, and a Kia Rio base is about $14k, MSRP, so you may find a good deal on one of those as well. The Fit is hard to beat, though, and has won awards with the 2015 redesign.
In terms of safety, based upon IIHS testing, I would eliminate the Nissan and Rio, but the Soul and Fit are Top Safety Picks.
The 2015 Honda Fit looks like it's pretty well loaded with features!
The 2015 Honda Fit looks like it's pretty well loaded with features!
I believe the cheapest cars (Versa, Spark, Mirage) can all be bought for under $11K.
The Fit ought to be better. If they don't discount (it is a Honda) it's almost 40% more expensive.
It's a big 'ol leap from $11K to $15K.
I understand the Mitsu is selling quite well.
In addition to being dirt cheap, you get a 5 year/60K mile bumper to bumper warranty.
I don't know how reliable these guys are but they rate the Spark better than the Versa Safety ratings
I'd probably say out of all of these, I'd probably go with the Honda Fit. They're fully loaded and I like their looks over the other cars. But then again, you're talking to someone who used to drive a Mustang GT and has always wanted a full size truck.
However, I'd get one of these cars if I knew I could have it paid off within a year. Then I'd save for something with a little more beef to it - a good weekend fun vehicle!
I believe the cheapest cars (Versa, Spark, Mirage) can all be bought for under $11K.
The Fit ought to be better. If they don't discount (it is a Honda) it's almost 40% more expensive.
It's a big 'ol leap from $11K to $15K.
I understand the Mitsu is selling quite well.
In addition to being dirt cheap, you get a 5 year/60K mile bumper to bumper warranty.
Yeah, if I could get a 2015 Honda Fit for $11K, then it would be a no-brainer. Heck, I'd probably have the thing paid off within a year.
I do like that warranty on the Mitsu, but aren't most of the Mirages manuals? Don't have anything against manuals, just been so long since I've driven a manual.
There are quite a few new Mirages on AutoTrader for less than $10K.
It's fairly amazing that you can get a brand new car with a long warranty that cheap.
Some of them are automatics.
Cheapest automatic Fit on AutoTrader is $16,291. That's not even on the same planet price wise.
Last edited by eaton53; 06-09-2015 at 02:16 PM..
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