Admittedly, the majority of these entry-level vehicles lack the room, features, status, or amenities of larger, more expensive new vehicles. However, beyond their budget pricing, these new vehicles can be appealing for city dwellers, individuals on a tight budget and value-conscious buyers who may also be considering a used vehicle but are looking for the security of a manufacturer-backed new car warranty. Ranked on their starting Manufacturer Suggested Retail Prices, check out the 10 Least Expensive New Vehicles for 2020.
10th-place: 2020 Hyundai Elantra Sedan - $17,149* CDN
Although an all-new generation is on the way for the 2021 model year, the current Hyundai Elantra Sedan is still a remarkable bargain. The FWD, 5-passenger, 4-door Elantra compact sedan leans more towards a comfortable and controlled driving experience. Even at this low-ball price, the Hyundai comes well-equipped with heated front seats. Sharing mechanicals with the Kia Forte, the Elantra comes with a 147-hp 4-cylinder engine mated to either a 6-speed manual transmission or optional CVT. Also, every Hyundai comes with comforting a 5-year/100,000-kilometre warranty.
9th-place: 2020 Hyundai Venue - $17,099 CDN
The all-new for 2020 Venue is now not only one of the least expensive new vehicles you can buy but also the least costly new SUV in Canada. If you can do without all-wheel-drive (AWD), the FWD, 5-passenger Venue features modern safety and convenience technology like automatic emergency braking, smartphone integration, and the Hyundai's extra-long warranty. More of an urban utility machine than an off-roader, Hyundai's smallest SUV is powered by a 121-hp, 1.6-litre, 4-cylinder engine matched to a 6-speed manual transmission or an optional CVT.
8th-place: 2020 Toyota Yaris Hatchback - $16,790 CDN
The subcompact 2020 Yaris Hatchback boasts a stylish design, standard tech features like a large digital display with smartphone integration, backup camera, push-button start, keyless entry, and a low-speed automatic emergency braking system. A 1.5-litre, 4-cylinder engine makes 106-hp and comes with an optional 6-speed automatic transmission (a 6-speed manual is standard). Based on the Mazda2, the FWD, 5-passenger, Toyota hatchback also touts the fun driving manners Mazdas are known for.
7th-place: 2020 Honda Fit - $16,390 CDN
Fuel economy, reliability, an incredibly roomy and versatile interior, and resale remain strong suits for the Fit subcompact hatchback, Honda's smallest and least expensive new offering. The FWD, 5-passenger, 4-door hatchback's 1.5-litre 4-cylinder engine makes a respectable 130-hp and is ideally suited to the small car's urban driving mission. A 6-speed manual is standard on the Fit. A CVT with paddle shifters will likely be the choice for most, plus the automatic offers better fuel economy than the manual.
6th-place: 2020 Mitsubishi Mirage G4 Sedan - $15,498 CDN
The subcompact Mitsubishi Mirage G4 Sedan offers a comfortable ride, good fuel economy, a large trunk, attractive price and Mitsubishi's 5-year/160,000-km comprehensive warranty. Despite its sub-$16k starting price, the FWD, 5-passenger, 4-door Mirage comes with standard features like air conditioning, cruise control, rear-view camera, steering wheel-mounted audio controls, and tilt steering. Power comes from a 1.2-litre 3-cylinder engine that makes 78-hp. A 5-speed manual transmission is standard, while a CVT is optional.
5th-place: 2020 Hyundai Accent 5-door - $14,949 CDN
A Canadian exclusive in North America, the FWD, 5-passenger, 4-door 2020 Hyundai Accent 5-door is Hyundai’s least expensive offering. In addition to Hyundai’s generous warranty, the Accent makes its case with ample passenger space and refined ride quality. The Accent’s cabin is well laid out and comes across at first glance as classier than its value-oriented price might imply. It also offers automatic emergency braking and smartphone integration. Sharing a platform and powertrain options with the 4th-place Kia Rio 5-door, the Accent’s engine has a fair amount of zip for the class.
4th-place: 2020 Kia Rio 5-door - $15,495 CDN
Kia has a well-earned reputation for offering a lot of features at a very reasonable price, and the subcompact Rio hatchback certainly lives up to this standard. There's plenty of room inside the 5-passenger cabin, and the Rio's large hatchback opening and folding rear seats can carry a surprisingly large amount of stuff. The FWD Rio's 120-hp 1.6-litre 4-cylinder engine can be had with the standard 6-speed manual or optional CVT transmissions. On the road, the Rio is quiet for this class of car, even at highway speeds.
3rd-place: 2020 Mitsubishi Mirage Hatchback- $12,298 CDN
Debuting back in 2014, the Mitsubishi Mirage Hatchback continues to offer plenty of value for Canadian new car buyers on a budget. Despite costing less to get into, the hatchback Mirage offers more practicality over the G4 Sedan's limiting trunk. With the same powertrain as the G4, the Mirage Hatchback scores excellent fuel economy estimates, either with the standard 5-speed manual or the more frugal optional CVT. Perhaps the best reason to opt for the new Mirage over a similarly-priced used car is Mitsubishi's 5-year/160,000-km comprehensive warranty
2nd-place: 2019 Nissan Micra - $10,488 CDN
Still on sale in 2020 as a leftover 2019 model, the FWD, 5-passenger Nissan Micra 4-door subcompact hatchback offers plenty of new car for used car money. Not available in the U.S. market, the Micra offers heated outside rear-view mirrors and rear heater ducts to keep Canadian back seat passengers warm. A 109-hp, 1.6-litre 4-cylinder engine is the lone engine and can be mated to a 5-speed manual transmission or a 4-speed automatic. All Micra models feature decent fuel economy, a comfortable and confident ride, and a relatively lively power-to-weight ratio.
1st-place: 2020 Chevrolet Spark - $9,998 CDN
Sliding under the $10k barrier, the subcompact Chevrolet Spark is not as bargain-basement in its offerings as some of its subcompact rivals. The 4-door hatch offers excellent fuel economy (making the Chevy Spark a logical choice for commuting), and plenty of technology (it prioritizes connectivity over convenience by installing smartphone integration, but going with manually operated windows). Plus, its small footprint and tight turning circle make it easy to park. The FWD, 5-passenger hatchback comes with a 98-hp 1.4-litre 4-cylinder engine. A 5-speed manual transmission or an optional CVT are available for gear changing duties.
* Manufacturer Suggested Retail Prices in Canada as of April 2020.