No, that’s not a false impression. New vehicles are actually more and more expensive. In its most recent analysis, AutoTrader, the company that owns the AutoHebdo site, estimates that their average price in June in Canada was $66,288, up 21.3% from the same period last year. However, there are still a few choices that will allow you to dip less into your savings. Overview*, by segments, of these less expensive options, some of which are still interesting.
Without being very convincing in its performance, the Mitsubishi Mirage is the most affordable vehicle, all categories combined, in Canada. For model year 2023, this chip on four wheels is priced at $17,130 if you opt for the ES livery with manual transmission, a transmission that will disappear from the catalog for 2024. This gives you the bare minimum, but an excellent 5-year/100,000 km comprehensive warranty. If your budget allows it, there are many more spacious and modern compact cars for slightly higher monthly payments, but they will be more fuel-efficient.
Starting at $22,956, the 2023 Hyundai Elantra in Essential trim is, within a few hundred dollars, the most affordable option among compacts. In addition to great overall capability backed by a large cabin, the sedan has plenty of standard features that make more expensive trims not a must, including heated front seats as well as docking to Android Auto and Apple CarPlay. .
Among city crossovers, the 2023 Hyundai Venue, replacing the Accent, is the most affordable choice of its horde with a base price of $23,296. Admittedly, you won’t be able to benefit from the all-wheel drive generally associated with this type of higher vehicle, but its small 1.6L four-cylinder is rather frugal and its rear hatch opens onto a relatively large 528 L.
A secondary player in its segment, the Equinox has continued its path in anonymity without too many changes since the launch of its third generation in 2017. Without having a strong personality, its cabin remains well designed and spacious, failing to highlight the best materials. Its two-wheel-drive version lowers the bill to $30,374 for the 2023 model year, ensuring it tops the accessibility podium among compact SUVs.
At $38,459 in LX trim for 2023, the Kia Sorento is the most affordable midsize SUV choice. Failing to be first in class, it can seat seven passengers. Its 2.5L four-cylinder producing 191 hp won’t win drag races, but its standard all-wheel drive and 907 kg towing capacity can meet a variety of needs.
Without having an overwhelming power of seduction, minivans remain and will always remain the proposals best suited to family use. In this segment with fewer competitors, the Kia Carnival wins by several thousand dollars in terms of affordability at $39,159 for the 2024 model year. Its 3.5L V6 (290 hp) makes it does a great job in addition to being able to tow up to 1587 kg and its interior space is cavernous compared to most SUVs.
Built on the Ford Escape monocoque platform, the Maverick became an instant hit when it was launched in 2021. Its hybrid version makes it the most frugal pickup truck marketed in Canada with a consumption of 6.4 L/100 km. It’s also the least expensive with an entry price of $33,295 (2023). Its small box of 1.37 m and its towing capacity of 907 kg do not, however, allow it to compete with midsize pickups in terms of capacity.
While the Nissan Leaf has seen price increases for 2024, the 2023 Chevrolet Bolt is the most affordable electric vehicle in the country right now at $41,569 without subtracting federal ($5,000) and provincial ( $7000). The subcompact, which boasts a range of 417 km, has been enhanced by a recent update that focused on its interior. It’s a great choice, if you can get your hands on one of the last examples produced before the transition to a new generation.
Light, compact and equipped with a magnificent rear-wheel drive platform, the 2023 Subaru BRZ retailed at $32,711 is a few thousand dollars more accessible when compared to its Toyota cousin, the GR 86. With 228 hp of its 2.4L four-cylinder, it is also significantly more responsive than the previous generation. A perfect first sports car at an affordable price, but you obviously have to accept living with a car whose practicality is limited.
