The Subcompact Market Isn’t As Cheap As You Think

Who would have ever thought that we’d see a day when a Toyota Yaris and Mitsubishi Mirage cost $16,000 – $17,000? That’s just a base price. The top trim Yaris could cost you as much as $19,000, and all you’re getting for it is 106 hp, 32 combined mpg, a touch screen and bluetooth. There isn’t much cargo room, very little shoulder and leg room, and at the end of the day, you’d be better off buying a Honda Fit. When does the cost for sub compacts become unreasonable, especially since we’re talking about a market that attracts consumers who want overall practicality?

The problem with the price is what the subcompact car is offering. Yes, to add features like a touch screen and bluetooth is great, but what is the overall goal with this market? To be practical in every sense of the word. For starters, the price isn’t practical. Not when it comes to the other options on the market. In a matter of 8 years, the Yaris’ price has spiked $3,000, and while MSRP says the base price is around $16,000 for the 2015 model, Toyota dealers are selling some of them close to $19,000+.

Without even looking to other brands, the Yaris’ top trim price is invading the Toyota Corolla’s territory. One could argue that the Honda Fit does the same to the Civic, but at least the Fit has cargo room and offers more value to the consumer. With President’s Day sales extended into March due to the snowstorms we’ve gotten in the Northeast, there are better options consumers could go with, and while fuel economy might be lacking, some of the cars are not too far off from the Yaris’ 32 combined mpg.

Some of the other options in the $17,000 – $19,000 price range are –

Toyota Corolla L/LE/S

Honda Civic LX

Honda Fit LX/EX

Ford Focus SE

Ford Fiesta SE

Those five vehicles are better options in terms of cargo space, shoulder and leg room, and fuel economy isn’t too bad. The list could be extended even further, but I think you get the picture as to what you could get at this price if you decided to buy new.

Due to sales events going on currently, the Hyundai Elantra SE/Sport and the Elantra GT are within the $18,000 to $19,500 range. The Subaru Impreza sedan and hatchback are also available within this price range, along with the Volkswagen Jetta S /w Technology Package, and even the Chrysler 200 limited which is one of the biggest surprises so far to have such a sale.

After seeing the prices, the subcompact market doesn’t seem so reasonable or practical anymore. If owning a small car is a must and you’re not concerned about cargo space, then by all means go with the Yaris or Mirage. But always remember that there are some great offers out there, and better cars to choose from than going the subcompact route.

If you prefer a small hatchback, the Fiesta, Fit, VW Golf, Elantra GT, and Kia Rio are other options on the table. In the sedan market, some dealers even have Ford Fusion’s, Toyota Camry’s, and Hyundai Sonata’s on sale for $3,000 to $4,000 below MSRP. Right now is the time to buy and take advantage of some of the deals. On a $16,000 – $19,500 budget, you could find a quality car that not only looks better, but is better built and worth the price.

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