20 Best New Cars under $20,000

6. Corolla iM
Starting price: $18,750

The Corolla iM is the rebranded Scion iM that is also one of the best new cars under $20,000. The auto manufacturer includes a large number of features standard on the vehicle to include a large 7” touchscreen, and a six-speaker Pioneer sound system in the four-door hatchback. The vehicle is powered by a 1.8 liter four-cylinder engine rated at 137 horsepower and is coupled to a CVT automatic transmission. The auto is targeted to attracting younger drivers, and the overall fuel efficiency rating of the car is 28 MPG (city) and 36 MPG (highway) that put the auto above average when compared to other autos on the market today.