What you can drive for $23,000

Fiat 500c Cabriolet Lounge
Price: $23,200
Mileage: 31 mpg city/40 highway/34 combined

Those who love the wind in their hair don't have to shell out a fortune for a topless ride. The adorable Fiat 500 convertible offers summer sun and fun with European flair and compact dimensions for easy parking. The cabriolet Lounge model comes with 15-inch alloy wheels, automatic climate control, upgraded cloth upholstery and 50/50 split-folding rear seats that allow for expand cargo capacity. Despite its tiny size, the Fiat 500 earns the top safety rating of “Good” from the Insurance Institute for Highway Safety in all categories for 2012 and 2013 model years. At this price, you'll have to stick with the standard 101-horsepower, four-cylinder engine and five-speed manual transmission. But hey, the mileage is great, and you can just pretend you’re vacationing in Italy.