Cheapest Brand-New Cars in Canada

If you're shopping for a new car in Canada and want to keep your budget in check, you're in luck! The 2024 model year has brought a range of affordable, feature-packed vehicles that offer great value without breaking the bank. Whether you're looking for a commuter car, a small family vehicle, or just something reliable, here are the top budget-friendly new cars available in Canada in 2024.

1. Mitsubishi Mirage

Starting Price: $14,298

Fuel Economy: 6.2 L/100 km combined

Notable Features:

Apple CarPlay and Android Auto

Keyless entry

7-inch touchscreen

The Mitsubishi Mirage is one of the most affordable brand-new cars you can buy in Canada in 2024. With its incredibly low starting price, this compact hatchback is perfect for city driving, offering great fuel economy and a surprisingly generous list of features for a budget car. Its small size makes it easy to maneuver and park in tight spaces, and the warranty offered by Mitsubishi is one of the best in the industry.

2. Chevrolet Spark

Starting Price: $13,999

Fuel Economy: 7.1 L/100 km combined

Notable Features:

Rearview camera

10 standard airbags

7-inch touchscreen infotainment system

The Chevrolet Spark continues to hold the title as one of the cheapest new cars available in Canada. Although compact, the Spark offers decent interior space and advanced connectivity features like Apple CarPlay and Android Auto. It’s an ideal choice for those who need an affordable, city-friendly car that’s easy to drive and offers essential tech at a low cost.

3. Kia Rio

Starting Price: $20,393

Fuel Economy: 7.2 L/100 km combined

Notable Features:

Wireless Apple CarPlay and Android Auto

Heated seats

Advanced safety features

The Kia Rio may be slightly higher in price compared to the Spark and Mirage, but it offers a more upscale experience with a comfortable interior, advanced safety technology, and more powerful engine options. It's a great option for those who want a subcompact car with a few extra comforts and the peace of mind that comes with Kia's long warranty.

4. Nissan Versa

Starting Price: $18,198

Fuel Economy: 6.7 L/100 km combined

Notable Features:

Automatic emergency braking

Rearview camera

Hands-free Bluetooth

The Nissan Versa has made a strong comeback in recent years, offering excellent value with a modern design, ample interior space, and a host of standard safety features. It’s also one of the more fuel-efficient sedans in this price range, making it a great choice for budget-conscious buyers who also want peace of mind on the road.

5. Hyundai Accent

Starting Price: $17,899

Fuel Economy: 7.1 L/100 km combined

Notable Features:

5-inch display with rearview camera

Heated front seats

Bluetooth connectivity

The Hyundai Accent delivers a solid all-around package for budget-conscious buyers, offering good fuel efficiency and a comfortable ride. With Hyundai’s reputation for reliability and a generous list of standard features, the Accent is a smart buy for anyone looking to keep costs down while still driving a brand-new car.

6. Toyota Yaris

Starting Price: $19,000 (est.)

Fuel Economy: 6.0 L/100 km combined

Notable Features:

Pre-collision system

Lane departure warning

7-inch touchscreen infotainment

While the Toyota Yaris may be priced slightly higher than other cars on this list, it’s packed with Toyota’s legendary reliability and a suite of advanced safety features. For buyers seeking long-term dependability, the Yaris provides a well-rounded package with excellent fuel economy and resale value.

7. Honda Fit

Starting Price: $21,000 (est.)

Fuel Economy: 6.5 L/100 km combined

Notable Features:

Magic Seat system for flexible cargo space

Apple CarPlay and Android Auto

Advanced driver-assist features

The Honda Fit is one of the most versatile cars in its class, with a flexible interior that makes it incredibly practical for city dwellers and small families alike. While it's at the higher end of this budget-friendly list, the Fit's space-efficient design and reputation for durability make it a smart investment.

8. Ford Maverick

Starting Price: $26,900

Fuel Economy: 8.4 L/100 km combined

Notable Features:

Hybrid powertrain (standard)

Spacious truck bed

Ford’s Co-Pilot360 safety suite

Although the Ford Maverick is technically a compact pickup truck, it deserves a spot on this list because of its low starting price and incredible fuel efficiency, especially for a vehicle of its type. It’s a great option for buyers who need more utility than a subcompact car but still want to keep their costs down. The hybrid engine helps you save on fuel, making it an affordable, eco-friendly option.

Why Buy a Budget-Friendly Car?

Buying a cheaper new car comes with several benefits, especially if you're mindful of long-term savings.

Here's why opting for an affordable car in 2024 might be a smart choice:

Lower Monthly Payments: Newer cars generally come with lower interest rates, and opting for an affordable car helps keep your monthly car payment manageable.

Fuel Efficiency: Most budget-friendly cars are compact and designed with fuel economy in mind, saving you money at the pump.

Warranty Coverage: New cars come with manufacturer warranties that can save you from unexpected repair costs during the first few years of ownership.

Lower Depreciation: Although all new cars depreciate, more affordable models tend to lose less value in absolute terms than luxury or expensive vehicles.

Final Thoughts

If you're in the market for a new car but want to stick to a strict budget, there are plenty of great options in 2024. From compact hatchbacks like the Mitsubishi Mirage and Chevrolet Spark to the versatile Ford Maverick truck, Canada’s budget-friendly vehicle lineup is filled with reliable, fuel-efficient, and tech-savvy options. Visit Dealerhop.com today to see how you can get matched with a fulfillment partner and explore your financing options on one of these affordable cars!