Subcompact is the class of vehicles between compact and microcar. The feature about them that's most attractive is their low prices compared to other vehicle segments. Consumers who are looking to buy a vehicle on a budget will be happy to know that, according to two of the major vehicle valuation guides, their prices are getting even cheaper at the moment.
The Latest Data from Black Book and NADA.com
When it comes to subcompact cars, the thing that usually interests buyers the most are their low prices. According to both Black Book and NADA.com, a pair of vehicle valuation guides, those prices are getting even lower.
The latest news from Black Book is that the average price of used 2010-2014 model year subcompact cars in the U.S. dropped 26% in May of 2016 compared to year-earlier levels. The NADA Used Car Guide Value Index also showed declining used car values in their June Guidelines report. According to their analysts, subcompact car prices are down 5.7% compared to last year and 12.6% compared to two years ago.
The decline in the prices of subcompact cars is likely a result of two factors. First, there are a large number of small cars that were leased by budget-conscious consumers coming out of the recession. These vehicles are now coming off lease and flooding the market. Second, demand for smaller cars is currently low because gas prices are cheap and the economy is strong, which is driving consumers to purchase larger vehicles.
It all spells good news for car shoppers on a budget. The large supply and low demand for subcompact cars gives these buyers the perfect avenue to get a reliable vehicle at a low price.
Used 2010-2014 Subcompact Cars for the Budget-Conscious
The team here at Drivers Lane helps consumers with bad credit find auto financing using our nationwide network of car dealers. In light of the latest news from the vehicle valuation guides, we ran the numbers to find the most abundant used 2010-2014 subcompact cars in the inventories of our dealership network. Here are some great options:
2012-2014 Chevrolet Sonic
MPG: 27/37/31 city/highway/combined (1.4-liter engine, automatic transmission)
The Sonic nameplate was introduced in 2012 and it hasn't disappointed in the subcompact segment. Critics praise it for its ample cargo space, generous backseat leg room, comfortable ride and sharp handling. It is available as a sedan or a hatchback.
2013-2014 Hyundai Accent
MPG: 27/37/31 city/highway/combined (automatic)
The Hyundai Accent is a highly-rated subcompact with a high-quality interior and a comfortable and composed ride. Both the 2013 and 2014 model years performed very well in crash tests. The hatchback version of the Accent also has more cargo space than most of its competitors.
2011-2014 Ford Fiesta
MPG: 27/37/31 city/highway/combined (automatic)
The 2011, 2012 and 2014 Ford Fiestas were all named "Best Car for the Money" in the subcompact category by U.S. News. Available as either a sedan or a hatchback, the Fiesta is known for its impressive safety scores, zippy handling, and stylish interior. However, it does lack the cargo space of many of its rivals.
2013 Kia Rio
MPG: 28/36/31 city/highway/combined (automatic)
The 2013 Kia Rio is a favorably-rated subcompact that is also available as both a sedan and a hatchback. Reviewers praised it for its composed ride, brisk acceleration, and well-made interior. They also noted that the seats were comfy and there was ample head and leg room.
2012-2014 Nissan Versa (pictured) and 2014 Nissan Versa Note
MPG: 26/35/30 city/highway/combined (automatic 4-speed)
The Nissan Versa comes with fewer standard features than its rivals, but it makes up for what it lacks with a lower price tag, on average. The sedan version of the Versa was fully redesigned for the 2012 model year, while the Nissan Versa Note hatchback made its debut as a stand-alone nameplate in 2014. It's known for its spacious cabin, good crash test performance and large trunk.
Note: MPG listed is the EPA-estimated number from the latest model year listed.
Getting Financed
Any of the five subcompacts listed above would make great choices for budget-conscious consumers. And if you have bad credit and can't seem to get approved for an auto loan, Drivers Lane is here to help.
We can connect you to a dealership in your area that stands to give you your best shot at an auto loan approval. Our network connections even have programs for little or no money down. Get the process started by completing our free and easy online application today.
