Top 5 Cars For Under $25,000 in 2024

Whether for driving long distances or simply picking up the kids from school, having a car to get from A to B is something most people need. According to the last census in 2021, 53% of households in Australia had access to two or more vehicles, while only 7% had none!

However, some cars are just not affordable for the average Aussie, and increasingly so. Throughout 2022 and 2023, we saw the price of both new and used cars increase significantly.

If you’re looking for a new set of wheels that won’t break the bank, we’ve prepared this guide containing the specs, reviews and prices for five different cars that could cost less than $25,000.

Originally published by Jemima Kelly, 9 January 2023.

On this page:

• What does the average car cost in 2024?
• Top 5 Cars For Under $25,000 in 2024
• New vs used: Which car is better to buy?
• Average car running costs in 2024
• Tips to save on your next car purchase

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What does the average car cost in 2024?

According to Canstar Blue’s latest survey of new car owners, Aussies spent an average of $37,362 on new cars in 2023. The average cost of small cars is $26,346; medium cars (sedans) cost $45,728 on average; and large cars (SUVs) cost $40,453 on average.

Both new and used cars have become more expensive over the past few years, reaching record highs amid severe stock shortages and high demand. According to Drive, the average advertised RRP (recommended retail price) has surged by 13% over the past four years, and the average drive-away price has gone up 23% in that time.

Historically, used cars have cost around $19,000 to $22,000 on average (Redbook.com.au), but in 2023, the average used car price hit a whopping $39,000!

Average New Car Cost by State

State	Average car cost
Tasmania	$33,520
South Australia	$36,233
New South Wales	$36,687
Victoria	$37,346
Western Australia	$37,647
Queensland	$39,730

Top 5 Cars For Under $25,000

Those prices above might be a bit too much for your budget. If you’re looking for something a bit more affordable, we’ve got you covered.

The five cars under $25,000 we’ll be discussing are as follows. Click the links below to jump to each one:

• Kia Picanto
• Suzuki Ignis 
• Kia Rio 
• Hyundai Venue
• Suzuki Baleno

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1. Kia Picanto - From $17,890

The Kia Picanto stands out in 2024, not just for its affordability but also for its surprisingly spacious interior. Starting from just $17,890, it boasts an impressive 255L of boot space with seats up, ballooning to 1,010L with the second row folded down. 

Despite its compact dimensions, the Picanto doesn't skimp on comfort, offering ample room for adults up to 182cm tall in all seats except the middle. It's a testament to how small cars can still deliver big on practicality and value.

Kia Picanto 2024 Specs

Model	Price*	Specs	ANCAP Safety Rating
GT Line (PE2)	$21,290	1.2L, 4 Speed Automatic	4-star
GT Line (PE2)	$19,690	1.2L, 5 Speed Manual	4-star
Sport (PE2)	$19,490	1.2L, 4 Speed Automatic	4-Star
Sport (PE2)	$17,890	1.2L, 5 Speed Manual	4-Star

2. Suzuki Ignis - From $21,490

City car meets 4x4 crossover: say hello to the Suzuki Ignis. The Suzuki Ignis redefines what to expect from a compact car, blending SUV styling with city-friendly dimensions, all within a price range starting at $21,490. 

This sweet car is a well-priced, well-equipped, fun-to-drive and spacious city car that is exceptionally lightweight and easy to control. Its unique design and efficient use of space provide a comfortable ride with unexpected interior roominess, offering a distinct personality that sets it apart on the road.

Suzuki Ignis 2024 Specs

Model	Price*	Specs	ANCAP Safety Rating
GL	$22,490	1.2L, Speed Continuous Variable	No rating
GL	$21,490	1.2L, 5 Speed Manual	No rating
GLX	$24,490	1.2L, Speed Continuous Variable	No rating
GLX Shadow	$25,990	1.2L, Speed Continuous Variable	No rating

3. Kia Rio - From $19,690

Starting from $19,690, the Kia Rio brings a balance of style, practicality, and affordability. It offers a refined interior and advanced technology, making it a compelling choice for those who desire a small car without compromising on features. 

Its spacious cabin and generous boot capacity cater to both daily commutes and adventurous weekends.

One prominent feature of the Kia Rio that tends to turn heads is the multimedia system. With an 8.0-inch touchscreen boasting wireless Apple CarPlay and Android Auto connectivity, the Rio is a great modern choice for just around $20,000.

Kia Rio 2024 Specs

Model	Price*	Specs	ANCAP Safety Rating
GT-Line	$25,590	1.0L, 7 Speed Auto Dual Clutch	5-star
S	$21,990	1.4L, 6 Speed Automatic	5-star
S	$19,690	1.4L, 6 Speed Manual	5-star
Sport	$23,490	1.4L, 6 Speed Automatic	5-star
Sport	$21,190	1.4L, 6 Speed Manual	5-star

4. Hyundai Venue - From $22,500

Priced from $22,500, the Hyundai Venue offers the versatility and style of an SUV with the efficiency of a compact car. Replacing the Hyundai Accent (at least in Australia), the Venue is now among the most affordable Hyundai cars available.

It stands out with its bold design, spacious interior, and a suite of intelligent safety features, making it an ideal urban explorer for the modern driver.

Hyundai Venue 2024 Specs

Model	Price*	Specs	ANCAP Safety Rating
(Base)	$24,500	1.6L, 6 Speed Automatic	4-star
(Base)	$22,500	1.6L, 6 Speed Manual	4-star

5. Suzuki Baleno - From $13,970

When people think of Suzuki, their minds will tend to go to Swift or Jimny. The 2022 Baleno (latest model) is a quiet achiever in the Suzuki family but is definitely one well under the $25,000 mark to consider for your next set of wheels.

Available from $13,970 (less for some models), the exterior is sleek and pointed with a bold headlight design. Other features you can find include a 9.0-inch touchscreen with Apple CarPlay, Android Auto, leather steering wheel, power door mirrors, 15-inch steel wheels and more.

With room to stretch out, the Baleno is a reliable car, perfect for school drop-offs or a trip to the grocery store.

Suzuki Baleno 2024 Specs

Model	Price*	Specs	ANCAP Safety Rating
GL Hatchback	1.4L, 4 Speed Automatic	$14,630 - $19,250	No rating
GL Hatchback	1.4L, 5 Speed Manual	$13,970 - $18,370	No rating
GL Shadow	1.4L, 4 Speed Automatic	$22,990 - $28,380	No rating
GLX	1.4L, 4 Speed Automatic	$17,930 - $22,660	No rating

New vs used: Which car is better to buy?

Buying a second-hand car can be a better option than a brand-new one for several reasons, primarily because it’s often cheaper. 

You can also have a greater range of options when choosing which car to buy. For example, just under 1.1 million new vehicles were sold across Australia in 2022. That’s a lot, but in comparison, it’s estimated that more than 3 million used cars are sold every year.

New cars, on the other hand, are less likely to have any issues and come with all the latest features and tech you might want. 

Ultimately, choosing between a new and a used car depends on your priorities and balancing cost, features, and the assurance of a vehicle’s condition.

See our used car buying checklist for a summary of the pros and cons of buying both new and used cars.

Average car running costs in 2024

While the purchase price is often the most expensive cost of owning a car, the expenses don’t stop there!

Between paying for petrol, maintenance, servicing, car insurance, and, of course, car loan repayments, the average annual cost of owning a car in 2024 now sets the average household back between $10,000 and $25,000 annually.

It’s important to factor these ongoing car expenses into your budget and ensure you don’t only focus on a cheap driveaway price. 

For more information on what you can expect to pay for each significant ongoing car expense, check out our comprehensive guide to the costs of owning a car in 2024.

See also:

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Tips to save on your next car purchase

Ultimately, the five cars presented in this article are just a tiny snapshot of the many (many) different models available to you in 2024. Given the hefty purchase price involved, it makes sense to take your time and try to save as much money as you can when buying a car while still ensuring you’re not buying a lemon.

Here are some car-buying savings strategies to consider:

• Research and compare: Spend time comparing prices and features across different dealerships and online platforms.
• Timing is key: Dealers may offer better deals towards the end of the month, year, or during special sales events. For example, the end-of-financial-year sales period (EOFY) is usually a great time to snag a bargain.
• Negotiate: Always be prepared to negotiate the price. Don’t hesitate to ask for a better deal.
• Pre-arranged financing: Secure your loan before heading to the dealership. This is called pre-approval and can give you leverage in negotiations
• Consider previous model years: New models usually come with a premium. Opting for last year’s model can save you money, especially if the updates are minimal.

Trade-in value: If you’re trading in your old car, research its value beforehand to ensure you get the best offer.

Consider a Jacaranda Personal Loan for your next car

Despite the average Aussies spending around $40,000 on a new car, there are still plenty of great 2024 options available for well under $25,000. And that’s just for driveaway models: you could snag an even better bargain by buying a used car and comprehensively searching the market for a car that suits your needs.

If you need a hand getting the funds needed to buy your next car, we’ve got you covered: Jacaranda Finance offers fast online Personal Loans for up to $25,000 and loan terms as long as 48 months 

By applying for one of our Secured Personal Loans online or via our Better Credit app, you could receive pre-approval for funding on the same day², helping you get on the road on your terms.

Estimate your potential loan repayments using our calculator or check if you qualify for one of our loans first without impacting your credit score!