Chevrolet Spark - Starting at $12,997

Let’s start with the bad news. The Spark is being discontinued in 2023. We were very disappointed to learn this because it’s the cheapest new car available in Canada.

The Chevrolet Spark rules the road when it comes to cheap new cars in Canada. Offered in three trims: LS, 1LT, and 2LT, the Chevrolet Spark hatchback is the most affordable subcompact from the GM stable.

The Chevy Spark has an Ecotec 1.4 liter 4-cylinder engine with 98 hp and a 5-speed manual transmission.

The Chevy Spark is a super-compact car with basic styling and on-point features. For example, the basic LS trim model has standard air conditioning, 4-speaker audio, 15” steel wheels with covers, and a 7” touchscreen.

The top-end 2LT model has chrome exterior trim, sunroof, leatherette upholstery, heated front seats, passive keyless entry, leather-trimmed steering wheel, front reading lights, configurable driver info display, rear park assist, forward collision avoidance assist and lane departure warning.

The safety features in the Chevy Spark include a forward collision alert, lane departure warning, 10 airbags, and low-speed forward auto-braking. The Chevy Spark is a compact, cute, and cheerful car with a low price of around $12,997 for the LS model.

Specs of the Chevrolet Spark

• Available Trims: LS, 1LT, and 2LT
• Engine: Ecotec 1.4 liter 4-cylinder
• Power: 98 hp
• 5-speed manual transmission
• Front-wheel drive
• Number of Seats: 4
• Price Range: $12,997 - $22,097

Mitsubishi Mirage

The Mitsubishi Mirage is a fashionably smart subcompact car, among Canada's cheapest cars. The car features a 1.2-liter 3-cylinder engine that has 78 hp and 5-speed transmission. The car comes in 3 trim options ES, SE, GT, and Carbon Edition.

The Mitsubishi Mirage has a very basic interior. The ES trim which is the basic model has auto on/off headlights, 14” steel wheels, auto airconditioning, a 4-speaker audio system, rain-sensing wipers, and power side mirrors.

The top model, the GT, has a few advanced features such as LED headlights, 15” alloy wheels, heated side mirrors, fog lights, leather-trimmed steering wheel and shifter, heated front seats, passive keyless entry, forward collision avoidance assist, lane departure warning.

The Mitsubishi Mirage packs loads of features in a small footprint and is one of the lowest-priced cars in Canada. The basic ES model costs $14,298, while the top GT model is $20,398.

Specs of the Mitsubishi Mirage

• Available Trims: ES, SE, GT, and Carbon Edition
• Engine: 1.2 liter 3-cylinder
• Power: 78 hp
• 5-speed manual transmission
• Front-wheel drive
• Number of Seats: 4
• Price Range: $14,098 - $20,398

Nissan Versa

For good reasons, the spacious but efficient Nissan Versa is on our list of the cheapest new cars. Priced at around $18,298 for its basic model, the Nissan Versa is equipped with a 1.6-liter, 4-cylinder engine, 122 hp and 5-speed manual (basic model), and continuously variable automatic transmission (other models).

The Nissan Versa comes in 4 trim options S Manual, S CVT, SV CVT, and SR CVT. The basic model also has a 4-speaker audio system and a 7” infotainment system with Bluetooth and Google Assistant.

The SR trim has plenty of features, including a tilt-and-telescoping steering wheel, cloth upholstery, power front windows, manual-adjust seats, and advanced safety features such as automatic emergency braking, pedestrian detection, forward collision warning, lane-departure warning, automatic emergency braking, high-beam assist, automatic rear emergency braking, and a rearview camera.

The basic S Manual model is priced at $18,283, while the top SR CVT model is priced at $21,298.

Specs of the Nissan Versa

• Available Trims: S Manual, S CVT, SV CVT, and SR CVT
• Engine: 1.6 liter 4-cylinder
• Power: 122 hp
• Front-wheel drive
• Number of Seats: 5
• Price Range: $18,298 - $22,798

Kia Forte

The Kia Forte continues to see price increases that almost push it off the list for 2023. The entry-level model saw a price increase of nearly $4000 from $18,995 to nearly $22,844. We’ve kept it on the list of cheapest cars because it remains a popular compact car.

The 2023 Kia Forte, with its tech, refreshed styling, and low price, is a good buy if you’re looking for a compact, affordable sedan with a few more features and a bit more size than the more affordable sub-compact options on our list.

The Kia Forte comes in 5 trim options LX Manual, LX IVT, EX IVT, LX+IVT, and EX Premium IVT.

The Kia Forte comes with a 2-liter, 4-cylinder engine with 147 hp. The basic model has a 6-speed manual transmission, while the other models have continuously variable automatic transmission.

The standard model comes outfitted with an 8” touchscreen infotainment system with Android Auto smartphone and Apple CarPlay integration, Bluetooth connectivity, a 6-speaker system, 15” steel wheel and covers, power windows, auto on/off headlights, LED daytime running lights, manual A/c, heated front seats, heated side mirrors, etc.

However, safety features such as collision avoidance, blind-spot detection, tire pressure monitoring, lane keep/follow assist, forward collision mitigation, rear cross-traffic alert, and driver attention alert are available only in the higher-trim models.

The price range of the Kia Forte ranges between $22,844 for the basic model to $29,995 for the top model.

Specs of the Kia Forte

• Available Trims: LX Manual, LX IVT, EX IVT, LX+IVT, and EX Premium IVT
• Engine: 2-liter 4-cylinder
• Power: 147 hp
• Front-wheel drive
• Number of Seats: 5
• Price Range: $22,844 - $30,795

Cheapest Minivan: Kia Carnival

As with the Forte, Kia increased the cost of Carnivals by a significant amount in 2023. The 2023 Carnival starts at $38,844, whereas the 2022 model started at just $34, 495.

Earlier called the Kia Sedona, and renamed as Kia Carnival in 2022, this is an all-new and the most space-efficient minivan. Called the “life utility vehicle” by Kia, the Carnival is a stylish vehicle, not to mention among the cheapest in this category.

The Kia Carnival comes in 5 trim options—LX, LX+, EX, EX+, and SX. All the models have a 3.5-liter, V6 engine, 290 hp, front-wheel drive, and 8-speed transmission.

At the basic trim level, the Carnival is an 8-seater vehicle that comes with various features, including 17” alloy wheels, low-beam LED headlights, daytime running lights, heated washer nozzles, a heated windshield, air conditioning, 8” touch screen with Android Auto and Apple CarPlay.

The topmost model of the minivan is a 7-seater, which comes with 2nd-row captain chairs, black wheels, dual-panel sunroof, ventilated front seats, leather seating, ventilated/heated 2nd-row seats, automatic braking, and rear collision detection.

The Kia Carnival comes at a price range of $34,495 for the basic LX model and the SX model, which is the top model, comes for $49,955 in Canada.

Specs of the Kia Carnival

• Available Trims: LX, LX+, EX, EX+, and SX
• Engine: 3.5-liter, V6
• Power: 290 hp
• Front-wheel drive
• Speed: 8-speed transmission
• Number of Seats: 8
• Price Range: $38,844 - $49,955

Cheapest SUV: Hyundai Venue

When you consider the various SUVs, many options come in the cheapest category, such as the Mazda CX-3, Nissan Kicks, Kia Seltos, and Subaru Crosstrek.

However, the Hyundai Venue is the cheapest SUV in Canada. The subcompact crossover has a hatchback cargo opening and is a very practical SUV available at a very affordable price. The Hyundai Venue is available in 4 trim levels -- Essential, Preferred, Trend, and Ultimate.

The SUVs are equipped with a 1.6-liter, 4-cylinder, and 121 hp engine. The basic Essential model has a 6-speed manual transmission, while the other models have CVT (continuously variable automatic transmission). The Venue does not come with an AWD, which is rather uncommon in an SUV.

The basic model of the Venue comes with features including auto on/off headlights, 15” steel wheels with covers, air conditioning, heated front seats, heated side mirrors, remote keyless entry, 8.0-inch touchscreen, and Apple CarPlay/Android Auto.

The Ultimate model has rear disc brakes, premium cloth seating, LED headlights, automatic A/C, navigation, and a complete set of safety assists. The compact Hyundai Venue comes at a price range of $20,649.

Specs of the Hyundai Venue

• Available Trims: Essential, Preferred, Trend, and Ultimate
• Engine: 1.6-liter 4-cylinder
• Power: 121 hp
• Front-wheel drive
• Number of Seats: 5
• Price Range: $20,649

Cheapest Truck: Nissan Frontier

The Nissan Frontier is a mid-sized entry-level truck that is the only pickup vehicle in Nissan’s line-up after discontinuing the full-sized Nissan Titan.

Since the mid-2000s, the Nissan Frontier has undergone a complete design change and upgrade. The pickup truck comes in 5 trim levels—S, SV, SV Convenience, SV Sport, and Pro-4X.

All truck models are equipped with a 3.8-liter, V6 engine, 4WD, and 9-speed transmission. In addition, you can choose between the Crew Cab and King Cab style of body.

The basic model includes 16” steel wheels, an 8” touchscreen featuring smartphone integration, a 6-speaker audio system, LED tail lights, fog lights, a locking tailgate, air conditioning, rear parking sensors, adaptive cruise control, and keyless entry.

Apart from the above features, the top-end model of the Nissan Frontier includes a red interior trim, leatherette-trimmed console, stitched steering wheel/shifter wireless charging, 9” touchscreen, Wi-Fi hotspot, lit vanity mirrors, navigation, underbody skid plates, traffic sign recognition, and surround-view cameras.

In Canada, the compact Nissan Frontier costs $40,998 for the basic S trim model, while the topmost model Pro-4X costs $49,998.

Specs of the Nissan Frontier

• Available Trims: S, SV, SV Convenience, SV Sport, and Pro-4X
• Engine: 3.8-liter, V6
• Power: 310 hp
• 4-wheel drive
• Speed: 9-speed transmission
• Number of Seats: 4-5
• Price Range: $40,998 - $49,998

Cheapest Convertible: Mazda MX-5

Formerly known as Mazda Miata, the Mazda MX-5 is a popular choice for people looking for an affordable sports convertible. The compact Mazda MX-5 roadster with its convertible top and agile chassis is spunky and offers a thrilling driving experience.

The MX-5 is powered by a 2-liter 4-cylinder engine. The car comes in 3 trims GS, GS-P, and GT. The basic model (GS trim) is equipped with 17 wheels, auto-on/off LED headlights, cruise control, a soft folding roof, air conditioning, a 7' touchscreen, a 6-speaker audio system, rain-sensing wipers, passive keyless entry, and Apple CarPlay/Android Auto.

The vehicle also has safety features such as rear cross-traffic alert, blind-spot monitoring, traffic sign recognition, lane departure warning, forward collision mitigation, and automatic high beams. The top model has all this and more.

The GT model includes features like adaptive headlights, an auto-dimming rearview mirror, an auto-dimming driver’s side mirror, leather upholstery, a cloth roof liner, a digital gauge cluster display, and navigation.

The Mazda MX-5 ranges in price from $33,900 for the basic GS model, and the GT model, which is the top model, comes for $41,000 in Canada.

Specs of the Mazda MX-5

• Available Trims: GS, GS-P, and GT
• Engine: 2-liter, 4-cylinder
• Power: 181 hp
• Rear-wheel drive
• Speed: 6-speed manual transmission
• Number of Seats: 2
• Price Range: $33,900 - $40,000

Parting Thoughts

So, that brings us to the end of our roundup of the cheapest new cars in Canada, if you’ve set your heart on buying a brand-new car, this list should help you narrow your options.

As you narrow your search, here are a few more things to consider:

• Cost to insure
• Fuel economy
• Maintenance cost
• Freight and Destination charges
• Interest rates (if financing or leasing)
• The manufacturer offers and incentives
• Special offers such as Student Programs.

After reading our guide, we hope you have all the information you need to decide which new car to buy without breaking the bank.

cheapest new cars in canada cheapest new cars in canada for 2023

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