Buying a new car is a major investment, no doubt about it. You have the cost of the vehicle itself, but you also have to factor in the cost of insurance, gas and maintenance to name a few.
Buying a new car certainly helps lower the cost of maintenance as the owner is covered under a new vehicle warranty, but it can also help lower the cost of fuel given that new models tend to be more efficient. Of course, a new car costs a lot more than a pre-owned vehicle… Most of the time.
That doesn’t apply to the 10 cars listed here. Even when new, they fit into most budgets and give the owner new-vehicle peace of mind even on a used-car budget. Here are the 10 cheapest new cars on sale right now in Canada, not taking into account any rebates or incentives, and these prices do not include freight and delivery charges.
Chevrolet Spark – $9,998
This Chevrolet Spark is far greater than the sum of its parts. It’s agreeable to drive, well put together and the lowest priced car in Canada.
Nissan Micra – $10,488
It will only be available for a short period of time in 2020 (before it goes away for good), but the Nissan Micra’s still one of our favourites among all these cars.
Mitsubishi Mirage – $12,298
The Mitsubishi Mirage has distinct advantages such as its warranty; however, most other cars on this list are more modern and substantial.
Nissan Versa – Projected price between $13,000 and $14,000
We’re a little early on this one, but the new Versa will replace the Micra and slot below the Sentra.
Hyundai Accent – $14,949
The Hyundai Accent subcompact is now exclusively available in Canada in five-door hatchback form, as the Accent sedan is now the only body style offered in the United States.
Kia Rio 5-door – $15,495
For styling and comfort, the Kia Rio turns out to a pleasant buy and good fun to drive.
Honda Fit – $16,390
The Honda Fit is one of the most versatile and spacious cars in the segment – more so than some small SUVs!
Hyundai Elantra Sedan – $17,149
This compact Hyundai Elantra is priced like a subcompact with no compromises – this is value.
Toyota Yaris Hatchback – $17,290
If you’re interested in this one and live outside Quebec, you will need to special order it for a fee… Truthfully, the Toyota Yaris is the best driver in this Top 10 (it’s a Mazda2 hatchback, that’s why…).
Kia Forte Sedan – $17,695
This is a better car than most expect and is loaded with all the modern wants.
As mentioned above, this list once contained many more affordable options. Cars like the Toyota Yaris sedan, the Ford Fiesta and Focus and the Chevrolet Cruze, to name a few, have all disappeared in favour of small SUVs.
Although the SUV craze is in full swing, fact of the matter is that they are more expensive – the most affordable in 2020 is the Hyundai Venue at $17,099.