7 Cheapest New Cars in Canada

With the ever-increasing prices of new cars, finding an affordable vehicle that fits within your budget can be a daunting task. Tight finances often mean having to settle for a smaller vehicle with fewer features and little to no frills. However, don't give up hope just yet! We've done the research and found the cheapest new cars in Canada that offer more than just basic transportation. 

We'll also take a look at the features they offer, so you can see that affordable doesn't have to mean sacrificing the essentials. So whether you're a first-time car buyer or just looking for a budget-friendly option, keep reading to find your perfect match.

 

7 Cheapest new cars you can buy in Canada in 2023

1. 2023 Toyota Corolla

MRSP: $25,804 CAD

The 2023 Toyota Corolla is a cost-effective option with a starting price of $25,804 in Canada. The base L CVT trim includes a 1.8-liter four-cylinder engine that pumps out 139 horsepower and is paired with a continuously variable transmission (CVT). Unfortunately, manual enthusiasts will have to make do without the six-speed manual transmission as it is no longer an option in Canada.

It's packed with impressive features, including a standard 8-inch touchscreen infotainment system with wireless Android Auto and Apple CarPlay compatibility, a six-speaker audio system, a tilt-and-telescoping steering wheel, 60/40 split-folding rear seats, and bi-LED headlights.

And when it comes to safety, the Corolla has you covered with automatic emergency braking, pedestrian and bicyclist detection, adaptive cruise control, lane-departure warning, lane-keep assist, high-beam assist, and much more.

Overall, the 2023 Toyota Corolla offers a winning combination of affordability, practicality, and top-notch features.

 

2. 2023 Nissan Versa

MRSP: $18,298 CAD

With a starting price of $18,298, this new model is one of the most affordable options available at Canadian new car dealerships.

Under the hood, the Versa comes equipped with a 1.6-liter four-cylinder engine that delivers 122 horsepower and has a five-speed manual transmission. But that's just the beginning of what this car has to offer.

Step inside, and you'll find a 7-inch touchscreen infotainment system complete with Google Assistant and Bluetooth connectivity, as well as a four-speaker AM/FM audio system. While Apple CarPlay and Android Auto are not included in the base model, they become available at the pricier SV trim level.

The Versa also boasts power front windows, a tilt-and-telescoping steering wheel, manual-adjust seats, and comfortable cloth upholstery. But what sets it apart from other cars in its class are the advanced safety features that come standard. You can count on features such as forward collision warning, automatic emergency braking with pedestrian detection, lane-departure warning, high-beam assist, a rearview camera, and automatic rear emergency braking to keep you and your passengers safe on the road.

So if you're in the market for an affordable, feature-packed car with top-of-the-line safety features, the 2023 Nissan Versa is definitely worth checking out!

 

3. 2023 Kia Rio

MRSP: $19,933 CAD

With a starting price of just $19,933 the Rio offers great value for its price point. Powering the Rio is a standard 1.6-liter four-cylinder engine that delivers 120 horsepower and 113 lb-ft of torque through a six-speed manual transmission and front-wheel drive. 

Despite its budget-friendly price tag, the Rio boasts an impressive array of standard features. These include an 8-inch color touchscreen, a six-speaker audio system, Bluetooth connectivity, and wireless Apple CarPlay and Android Auto. The car also comes with a leather-wrapped steering wheel, heated front seats, and much more, making it a great value for its price point.

While the Rio may fall short in terms of advanced safety features, you can still expect blind-spot monitoring, lane-following assist, lane-keeping assist, and forward collision warning on the range-topping EX Premium trim.

Overall, if you're looking for a budget-friendly car with plenty of features, the 2023 Kia Rio is definitely worth considering!

 

4. 2023 Kia Forte

MRSP: $22,883 CAD

If you're looking for a sleek and affordable sedan, the 2023 Kia Forte might just be what you need. With a starting price of $22,883, it's one of the most affordable cars in Canada. Beneath the sleek exterior of the 2023 Kia Forte lies a powerful 2.0-liter four-cylinder engine that delivers an impressive 147 horsepower. This engine is paired with a smooth and responsive continuously variable transmission (CVT), which provides a seamless driving experience. Although the standard six-speed manual transmission is no longer available, the CVT still provides a smooth and efficient ride.

Inside the Forte, you'll be greeted by an 8-inch touchscreen infotainment system that supports both Apple CarPlay and Android Auto. You'll also enjoy a six-speaker audio system, Bluetooth connectivity, power front windows, and more. However, the downside to the Forte, similar to the Rio, is that it lacks standard advanced safety features. To get those, you'll need to opt for the EX or higher trims.

 

5. 2023 Hyundai Elantra

MRSP: $22,955 CAD

Priced at $22,955, this entry-level sedan features the same 2.0-litre engine and continuously variable transmission as its Kia cousin, the Forte, delivering 147 horsepower. With an 8-inch touchscreen infotainment system, wireless Apple CarPlay and Android Auto, Bluetooth connectivity, and power front windows, the Elantra packs a punch in terms of standard features.

But what sets the Elantra apart from its competitors is its impressive range of standard advanced safety features. Enjoy automatic emergency braking with pedestrian detection, lane-departure warning, lane-following assist, driver attention warning, high-beam assist, and more. With these features, the Elantra is not only an affordable choice but a safe one too.

 

6. 2023 Mazda3

MRSP: $21,900 CAD

The 2023 Mazda3 offers great value with a starting price of just $21,900 for the sedan and $22,900 for the hatchback. In terms of performance, the 2023 Mazda Mazda3 comes standard with a 2.0-litre four-cylinder engine that produces 155 horsepower and is paired with a six-speed manual transmission. You also have the option to upgrade to a six-speed automatic transmission if you prefer not to shift.

But the real standout feature of the Mazda3 is its interior. With a clean, clutter-free design and an upscale look and feel, it's sure to impress. The 8.8-inch infotainment system comes standard with Apple CarPlay and Android Auto, and the car also includes features like power windows, an eight-speaker audio system, keyless entry, SiriusXM, rear cross-traffic alert, blind-spot monitoring, push-button start, heated front seats, and 7-inch LCD meters.

While the Mazda3 lacks some standard safety tech like automatic emergency braking and adaptive cruise control, these features are available in higher trims for those willing to stretch their budget. Overall, if you're looking for a cheap new car that doesn't skimp on style and features, the 2023 Mazda Mazda3 is definitely worth a look.

 

7. 2023 Mitsubishi Mirage

MRSP: $14,298 CAD

Looking for the absolute cheapest new car in Canada? Look no further than the 2023 Mitsubishi Mirage, with a jaw-dropping starting price of just $14,298. But what do you get for such a low price point? Well, under the hood, you'll find a small 1.2-litre three-cylinder engine that produces just 78 horsepower, which is paired with a five-speed manual transmission.

Inside, the Mirage may not be the most luxurious option out there, but it still has a few basic features to offer. For example, it comes with a four-speaker AM/FM display audio system, manual-adjust seats, and power front windows. However, you won't find advanced technology like Android Auto or Apple CarPlay on the base model - those features are only available on the SE and GT trims. So, if you're looking for a car with all the bells and whistles, you may want to consider upgrading to a higher trim level.

To recap, if you are in search of a new car in Canada but have a tight budget, don't lose hope. The above listed are some of the cheapest new cars that offer more than basic transportation. These cars not only fit within your budget but also offer great features and impressive safety standards. From the affordable 2023 Nissan Versa to the sleek 2023 Kia Forte and the safety-packed 2023 Toyota Corolla, there is something for everyone.

These cars prove that you don't need to break the bank to find a reliable, stylish, and safe car that meets your needs.