It’s getting harder to find a truly cheap new car in Canada. With demand still outstripping supply and the average price for a new car now pushing well past $50,000, automakers are dropping options like manual transmissions and bargain-basement entry-level models. But there are still a few deals out there to be found if you know where to look. For those looking to buy a new vehicle but still pay as little as possible, here’s a look at the top 10 cheapest new cars in Canada for 2024.
Note the models listed are low-volume base trims, which will always be the cheapest cars within a given line-up. A handful still come equipped with a manual transmission rather than an automatic transmission or a CVT, which we’ve noted where applicable. All of these models, including the crossovers, come with front-wheel drive (FWD) rather than all-wheel drive (AWD). These models are priced to entice buyers into dealerships where they can be upsold into something more robustly equipped. But if you can stick to your guns, live without plenty of space or more modern features, and be willing to compromise, there are some good deals to be found on this list. What you won’t find here is a Honda Civic, Ram 1500, Volkswagen Jetta, Subaru Impreza, Mazda3, or any Ford model—all of these nameplates are too pricey in 2024 to make our list of Canada’s top 10 most affordable vehicles.
Prices shown do not include taxes, delivery charges, or fees. The prices listed were correct at the time of publication but are subject to change.
The Cheapest New Cars in Canada 2024
- Mitsubishi Mirage
- Nissan Versa
- Hyundai Venue
- Kia Forte
- Chevrolet Trax
- Hyundai Elantra
- Nissan Kicks
- Nissan Sentra
- Kia Soul
- Toyota Corolla
Mitsubishi Mirage, from $16,998 + fees
We’re seeing big changes at the lowest end of this list for 2024. Now that the Chevrolet Spark has faded, the Mitsubishi Mirage subcompact hatchback is Canada’s most affordable car. It also has the best fuel economy of any non-hybrid new vehicle in Canada at 6.2 litres per 100 kilometres combined. However, the entry-level ES trim’s starting price of $16,998 before fees represents an increase of $2,700 over the 2023 equivalent. The Mitsubishi Mirage is no longer offered with a five-speed manual transmission in Canada for 2024, making the continuously variable transmission (CVT) the default. For this price, you’ll get a 1.2-litre three-cylinder engine making 78 hp and 74 lb-ft of torque, new-for-2024 14-inch alloy wheels, Bluetooth connectivity, rain-sensing wipers, and a newly standard 7-inch display audio system with Apple CarPlay and Android Auto integration. For the first time on Mirage, you’ll even get standard heated front seats. But what pulls many buyers into the Mitsubishi is the powertrain warranty, which extends for 10 years from the date of purchase.
Nissan Versa, from $20,298 + fees
The Nissan Versa subcompact sedan continues to fill the void left by the budget-friendly Nissan Micra hatchback, which was discontinued in 2020. Like the Mirage, the Nissan Versa sees a price increase for 2024, in this case a difference of $2,000. This is due in part to the five-speed manual transmission previously offered on the S trim being dropped, making a CVT the default. The 2024 Nissan Versa’s 1.6-litre four-cylinder engine puts out 122 horsepower and 114 lb-ft of torque. The base version of the Versa small car comes with 15-inch steel wheels, keyless entry, automatic emergency braking and lane departure warning, and a 7-inch touchscreen display (though Android Auto and Apple CarPlay are not standard). Heated front seats are not included as standard equipment.
Hyundai Venue, from $20,899 + fees
The Hyundai Venue subcompact crossover is one of the few cars that has seen only a modest Canadian price increase for 2024. Its new starting manufacturer’s suggested retail price (MSRP) of $20,899, just $450 less than in 2023, is good enough to gain it several positions on this list of the most affordable new cars in Canada. The 1.6-litre four-cylinder engine creates 121 horsepower and 113 pound-feet of torque. Heated front seats are standard, as are 15-inch steel wheels, an 8-inch touchscreen infotainment system with Bluetooth and wireless Apple CarPlay and Android Auto, and keyless entry. On the safety features side, the Hyundai Venue includes standard lane keep assist, forward collision avoidance, rear occupant alert, high beam assist, and a driver attention monitor.
Kia Forte, from $20,995 + fees
With a price difference of just $600 from 2023, the Kia Forte remains one of Canada’s most affordable new vehicles for 2024 and the most affordable among compact sedans. And with the smaller Kia Rio being discontinued, the Forte is now Kia’s most affordable vehicle in Canada outright in its LX trim, priced at $20,995 before fees. Like many other new vehicles, the Forte’s default transmission is a CVT. Its 2.0-litre four-cylinder engine produces 147 horsepower and 132 pound-feet of torque. Heated front seats, keyless entry, an 8-inch infotainment system with Apple CarPlay and Android Auto, and 15-inch steel wheels are standard. Note this pricing applies to the sedan only: the 2024 Kia Forte5 hatchback is more expensive, starting at $23,695, putting it just outside our list of Canada’s most affordable new vehicles for 2024.
Chevrolet Trax, from $21,699 + fees
The Chevrolet Trax subcompact SUV enters its second generation for the 2024 model year and receives many upgrades. With a starting price of $21,699 before fees, we’re very pleasantly surprised to see the Trax slot well inside the top 10 most affordable new vehicles in Canada for 2024. On top of stylish new looks and a more spacious interior, the Trax’s new 1.2-litre turbocharged three-cylinder engine is rated at 137 hp and 162 lb-ft of torque and performs surprisingly well for its size. The standard six-speed automatic transmission presents a bit of a ding to fuel efficiency, which averages 7.9 L/100 km combined, but goes a long way toward improving overall drive feel. Beginning with this generation, the Trax is built on a dedicated FWD platform, while customers looking for AWD are being redirected toward the more expensive Chevrolet Trailblazer. Standard features include wireless Apple CarPlay and Android Auto, 17-inch steel wheels, and heated front seats. This makes the Chevy Trax a purpose-built econobox that’s on-trend with the key features drivers are seeking in new vehicles. It’s a solid choice at the budget end of the market.
Chevrolet Trax Review
Hyundai Elantra, from $21,999 + fees
The edgy-looking Hyundai Elantra makes this list in its Essential grade, which with a CVT rings up at $20,249, not including $1,775 in fees. This base price is several thousand dollars higher for 2023 model year because the manual transmission has been dropped. (The Toyota Corolla doesn’t even make our 2023 list of the 10 most affordable cars in Canada for the same reason.) The 2.0-litre four-cylinder engine here is good for 147 horsepower and 132 pound-feet of torque, and the base Elantra comes equipped with 15-inch aluminum alloy wheels, heated front seats, an 8-inch infotainment touchscreen with wireless Apple CarPlay and Android Auto as well as Bluetooth, and a long list of safety features including forward collision avoidance, lane departure warning and lane follow assist, high beam assist, and a driver attention monitor.
Hyundai Elantra Review
Nissan Kicks, from $22,098 + fees
Nissan’s affordable front-wheel-drive crossover, the 2024 Nissan Kicks, stays on this list of the top 10 cheapest new vehicles for 2024. In its S base model, the Kicks costs $22,098 before fees, which represents an increased price tag of just under $1,000 versus 2023. The 1.6-litre four-cylinder engine produces 122 horsepower and 114 lb-ft of torque sent to the 16-inch steel wheels through a CVT. Standard features include keyless entry with push-button start, a 7-inch touchscreen infotainment system with Bluetooth as well as Apple CarPlay and Android Auto, key safety features like blind spot monitoring, rear cross-traffic alert, lane departure warning, and automatic emergency braking, as well as heated exterior mirrors – but not heated front seats.
Nissan Sentra, from $22,548 + fees
Nissan takes the title for having the most entries on our list of the top 10 cheapest vehicles in Canada for 2024. The brand’s compact car, the 2024 Nissan Sentra, rings up at $22,548 before fees for its S grade. This represents a $2,450 price increase over 2023. Unlike most vehicles on this list, this base price is for a Sentra with a six-speed manual transmission. Shifting your own gears is increasingly becoming a rarity, so third-pedal fans looking for a deal may want to give the Sentra some serious consideration. The 2.0-litre four-cylinder engine creates 149 horsepower and 146 pound-feet of torque. A 7-inch touchscreen infotainment system is included with Bluetooth, Apple CarPlay, and Android Auto, as is keyless entry with a push-button start. Standard equipment includes 16-inch steel wheels, heated front seats, and even a couple of standard safety features that are unusual at this price point such as blind spot monitoring, rear cross-traffic alert, automatic emergency braking on the front and rear, and lane departure warning.
Kia Soul, from $22,795 + fees
Here’s a vehicle that takes the term econobox literally: the 2024 Kia Soul, which starts in Canada at a price of $22,795 before fees. Because of its upright and squared-off shape, the Soul maximizes interior space and offers cargo capacity of up to 663 litres behind the rear seats, which is excellent for its size. The 2.0-litre four-cylinder engine makes 147 hp and 132 lb-ft of torque, sent to the front wheels through a CVT. Standard feature highlights include 16-inch steel wheels, heated front seats and exterior mirrors, an 8-inch touchscreen infotainment system with Apple CarPlay and Android Auto connectivity, and a rear occupant alert.
Kia Soul Review
Toyota Corolla, from $23,050 + fees
The Toyota Corolla was too expensive to make our list of Canada’s most affordable new cars in the past, but prices on other vehicles have shifted high enough that it sneaks into the top 10 for 2024. In the 2024 Toyota Corolla L, priced from $23,050 before fees, a 2.0-litre four-cylinder engine produces 169 hp and 151 lb-ft of torque, which is delivered to the front wheels via a CVT. On top of Toyota’s reputation for dependability, buyers receive a solid list of standard features, including an 8-inch touchscreen infotainment system with wireless Apple CarPlay and Android Auto, keyless entry, and the Toyota Safety Sense 3.0 suite of driver assistance and safety features, which includes adaptive cruise control, automatic emergency braking, lane departure alert, automatic high beams, and other features. You will need to give up one feature that’s a favourite in Canada, though, and that’s heated front seats.
Toyota Corolla Review
Note: Images may show US models.