What are the most affordable vehicles in Canada? Is it SUVs, Trucks, Hatchbacks or a compact cars?
The cost of living has skyrocketed across the country over the last decade. This means Canadians are spending more on fuel, gas, maintenance costs and repairs. As a result, they are looking for more fuel efficient vehicles that won’t break their wallets. Many consumers are ditching their large luxury cars for smaller, more fuel-efficient models such as the Nissan Versa. If you want to save some money on transportation costs, consider trading in your larger vehicle for something more economical. Here is a ranking of some of the most affordable vehicles for Canadians.
Trends and Predictions for Vehicles in Canada
As we speak, new trends are emerging in the automotive market. What will they be like by the next year? We’ve come up with 6 predictions for your consideration. See where you stand in this list!
1. The compact economy car segment will get bigger with manufacturers making cheaper versions of existing vehicles.
2. Electric vehicles will become mainstream within 5 years.
3. A majority of Canadian drivers will drive SUVs and trucks by 2022.
4. More and more people will ditch their sedans for crossovers to maximize space when transporting goods.
5. Compact city cars will dominate the small crossover segment.
6. Luxury brands will make a comeback as consumer demand increases once again.
The Most Affordable Vehicles in Canada
SUV/Pick Up Truck: 2018 Ford Escape – $24,495
With only 4 passengers, this little SUV will get you from point A to B with ease. It’s one of the most reliable vehicles on the market and comes equipped with excellent safety features. The small size also make it easy for parking in big cities like Toronto.
Compact Car: 2017 Kia Rio Hatchback – $17,345
This subcompact hatchback is a great option for families who need more room than a sedan. Plus, you can find it at a low price tag. Thanks to its turbocharged engine, the hatchback accelerates quickly with plenty of power for tight turns.
Subcompacts: 2015 Nissan Versa Sedan – $14,000
This car boasts a high passenger capacity but comes in at a relatively low price tag. In fact, it is the cheapest compact car available today. With a 1.8L engine under the hood, this car offers a good mix of performance and efficiency.
Sedan: 2016 Toyota Corolla Sedan – $19,695
Another popular choice is the Corolla which typically sells for around $18,000. That’s less than half the cost compared to other sedans. Its solid build quality and reliability make this model worth considering.
Compact SUV: 2014 Honda CR-V – $21,595
It doesn’t have all the bells and whistles some competitors offer, but it does offer generous cargo area which makes traveling easier. Moreover, if you’re planning to move, consider adding a bed. You’ll thank yourself later!
Crossover Utility Vehicle (CUV): 2014 Suzuki Grand Vitara Limited Edition – $37,495
CUVs are becoming increasingly popular because they combine comfort and utility. This particular example has an elevated seating position that adds style while offering additional legroom. Plus, it has a built-in DVD player, Bluetooth connectivity and air conditioning.
Small Crossover Utility Vehicle (SCUV): 2013 Subaru Forester – $22,995
While not all SCUVs are cheap, this one definitely stands out. Not only does it boast a spacious interior, but it also sports a large cargo bay and lots of useful features.
Wagon: 2015 Mazda 3 Premium Wagon – $23,500
A real wagon with extra storage space and a spacious interior. It may not look like much, but there is a lot going on behind those doors. Check out our Buying Guide for more tips on purchasing your next vehicle.
Mini Van: 2019 Chevrolet Express Mini –$45,000
This van seats up to 8 passengers and has tons of cargo space thanks to a foldable tray table. On top of that, it comes with a panoramic sunroof and many safety features like active braking systems and lane departure warning.
Conclusion on Affordable Vehicles in Canada
Whether you want something to carry a few groceries for everyday shopping trips or a moving truck when relocating, you’ll be able to find exactly what you need by choosing from each category above. We recommend starting off with these categories before narrowing down the options based on your needs. After all, everyone has different preferences so it pays to shop around.
Should I buy used?
Buying preowned models saves money over new cars. However, buying a certified preowned model is highly recommended. These models go through extensive inspections and come with a warranty.
How do I know what options I should choose?
Every car buyer needs to figure out their specific preferences when shopping for a car. Some people prefer automatic transmissions while others want manuals. Each person has different priorities related to performance, fuel economy, etc. Do your research and then narrow down your options based on these factors.
How can I save money?
Many manufacturers now offer great deals on used vehicles. Also, be sure to check out Carvana.com where you can sell your old car in 60 seconds or less for free.
Do People Still Win Cars for Free?
While some platforms, like those for online casinos and jackpot draws, used to offer prizes as big as cars, the true legitimacy of those offers was never confirmed.