Have you heard the news? Small cars are cool again.
Between dizzying increases in the price of gasoline, the desire to lessen the nation's dependence on foreign oil and increasing awareness about the dangers of global warming, those gas-guzzling cars and bigfoot SUVs suddenly don't seem so chic anymore. And, of course, anyone on a budget can appreciate the lower sale prices and fuel economy of smaller cars.
Indeed, there seem to be more and more new budget-priced models hitting the road every month. Some are great, some are not so great. After surveying all of the choices out there -- and factoring in considerations such as interior space, styling, gas mileage and overall "buzz factor" -- we chose our top 10 favorite budget-priced cars.
If you are interested in getting the best local pricing on the cars below, take advantage of the AOL Autos "Free Price Quote" service to see receive local dealers price quotes via email. You can also check for local advertised sale prices for each vehicle using the "Best Deals" feature. Good shopping!
Honda Fit
MSRP: $13,950 - $15,270
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The Honda Fit hatchback, originally launched in 2006, is an impressive combination of crisp handling, surprising passing power and the quality for which Honda is famous. Two trim levels are available, including the Fit Sport. The Fit is powered by an economical 1.5-liter 109-hp engine, so it also gets great gas mileage
Chevrolet Cobalt
MSRP: $13,925 - $19,210
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With three trim levels -- LS, LT & Sport -- the Cobalt offers a model for every budget, and buyers can also choose between the coupe or sedan configuration. The Cobalt comes with a perky 2.2-liter 148-hp engine. For '08, Chevy has added standard head curtain side impact air bags, OnStar and XM satellite radio.
Toyota Yaris
MSRP: $11,350 - $13,725
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The Yaris is an entry-level model that's available as a sedan or a three-door hatchback, and the sedan can be upgraded to the sportier S edition. The lowest-price entry in the Toyota stable, the Yaris is a hot seller in Europe, and its 1.5-liter 106-hp engine boasts top-shelf fuel economy.
Ford Focus
MSRP: $14,300 - $16,835
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Known for its 2.0-liter 140-hp partial zero emissions (PZEV) engine, the Focus is Ford's entry-level offering. Dependable, with plenty of standard features, the Focus is available as two-door coupe or four-door sedan, and offers three trim levels - the S, SE & SES. It handles well, with a comfy ride for a small car.
Hyundai Accent
MSRP: $10,775 - $14,575
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With its low price, the Hyundai Accent sedan definitely appeals to buyers on a budget, and its 1.6-liter double overhead-cam engine with variable valve timing delivers equally appealing fuel-economy numbers. The Accent is nicely styled, and popular among young buyers. It's available as basic GS coupe, a midline GLS four-door sedan, and a sporty SE coupe.
Kia Rio
MSRP: $10,890 - $13,615
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The Rio is getting rave reviews -- it recently scored top marks from J.D. Power and Associates for "initial quality" in the subcompact segment. For a lower-priced car, the Rio is also surprisingly spacious, and its 1.6-liter 110-hp engine offers impressive fuel economy that's easy on the wallet. The interior also offers some tech-friendly features, like storage for PDAs and cell phones.
Nissan Versa
MSRP: $12,710 - $15,710
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The Versa replaced the Sentra as Nissan's entry-level edition in 2006, and it's just as sturdy as its predecessor, with a peppy 1.8-liter 122-hp engine, a well-appointed cabin and legroom that's among the best in the subcompact class. It comes in both the sedan and hatchback incarnations, and gives buyers an array of tech-savvy options, such Intelligent Key, Bluetooth, MP3 player input and XM satellite radio.
Mazda3
MSRP: $13,895 - $19,895
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The Mazda3 caused a stir when it was first introduced in 2004 for its smart-looking body lines, nimble handling and 2.3-liter 156-hp engine, and it's improved since then. It comes as either a four-door sedan or a five-door hatchback and can be ordered in three trim levels: Sport, Touring and Gant Touring. This is an all-around fun car to drive.
Suzuki Reno
MSRP: $13,599 - $13,999
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The Reno's platform and basic mechanics are the same as the Firenza's, since it was created by the Pininfarina Design Studio in Italy. As a crossover vehicle, it seeks to synergize the spaciousness of a hatchback and the ride quality and handling of a sedan. The Reno's 2-liter 127-hp engine enables it to strike a good balance between passing power and budget-minded fuel economy.
Chevrolet Aveo 5
MSRP: $10,235 - $12,020
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Chevy boasts that the 2008 Aveo 5 -- the hatchback version of the Aveo -- is the lowest-priced car in America. The 103-hp 1.6-liter 4-cylinder engine offers plenty of pep for a car of this size, and Chevy offers some nice options, like imitation wood trim faux leather seats and power moonroof.
