Cheap doesn't necessarily equate to bare bones with today's new vehicle models.

Here's video of the top 10 bargain rides of the 2008 model year:

1. Chevrolet Aveo 5 SVM 6. Kia Spectra LX 2. Hyundai Accent GS 7. Nissan Versa S 3. Kia Rio 8. Suzuki Reno 4. Toyota Yaris 9. Hyundai Elantra GLS 5. smart fortwo 10. Honda Fit

1. Chevrolet Aveo 5 SVM Watch video MSRP: $10,895 Style: 4-door hatchback or sedan Mileage: 24 city/34 highway (5-speed manual), 23 city/32 highway (4-speed automatic) Engine: 4 cylinder, 1.6 liter, 103 horsepower Warranty: 3-year/36,000-mile basic, 5-year/100,000-mile powertrain Standard equipment: Dual-stage driver and front passenger air bags, seat-mounted side-impact air bags, rear door child-safety locks, tilt steering, split-folding rear seat, rear defogger, tire pressure monitoring, AM/FM stereo Safety data: "Acceptable" in front impacts, "marginal" in side impacts, "poor" in rear impacts.

"It's amazing how good the least expensive cars are these days," says Jack Nerad, executive editorial director and executive market analyst for Kelley Blue Book and kbb.com. "The level of the least expensive cars in the American market these days would have been at least midlevel 10 or 15 years ago. They're really quite good in all kinds of aspects, from driving dynamics to just the interior treatments that you get. They're pretty doggone well-equipped, even at the bottom of the price range."

That's a reflection of the competition in the automobile market, which is forcing manufacturers to add more, even to base models for those priced at less than $15,000, he says. Compact sizes are drawing buyers to vehicles such as the "smart fortwo," an 8.8-foot long, 5.1-foot tall and 5.1-foot wide car manufactured by Daimler AG that went on sale in the U.S. in January 2008.

To compare insurance policies and quotes for your frugal vehicle, visit Insureme.com, a Bankrate company.