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.
Nissan Micra – $9,988
Chevrolet Spark – $9,995
Mitsubishi Mirage – $10,998
Hyundai Accent – $14,599
Nissan Versa Note – $14,698
Ford Fiesta – $15,363
Honda Fit – $15,490
Toyota Yaris – $15,490
Nissan Sentra – $15,898
Ford Focus – $15,902
Now, we should note two things here. First, this list is a good starting point for anyone on a budget looking for a new car, but at this time of year there are a host of incentives and rebates available from just about every automaker. You’ll want to keep an eye out for those.
Secondly, there are plenty of vehicles that were very close to making this list. The Chevrolet Cruze, Mazda3, Kia Rio, Hyundai Elantra, Honda Civic, and Toyota Corolla are all priced within $1,000 of the Ford Focus.
Finally, keep in mind that if you are financing, interest rates play a large role in the actual cost of a vehicle. You’ll want to compare those as well as you are shopping.