Inflation, rising interest rates and the loss of jobs for many hard-working Canadians are making it harder for the middle class to afford a new car. In 2024, it's hard to walk out of a dealership having paid less than $30,000. In 2023, our list included three models selling for less than $20,000. This year, only one remains.
Another discouraging finding: the amounts paid by consumers are also on the rise. Attached to the Mitsubishi Mirage in 2023 were $1,575 in additional costs, for example. This year? $2,474.
There's still hope, however, as some manufacturers continue to offer interesting and affordable models. All it takes is a little digging to find a few rare gems. Here's a list of the 10 most affordable vehicles in Canada in 2024.
*Note that the images included here could be of trims other than the base model.*
10th position: 2024 Mitsubishi RVR ES AWC: $26,598 + $2,672 in fees
Specifications sheet of 2024 Mitsubishi RVR ES FWD
Specifications sheet of 2024 Mitsubishi RVR ES AWC
While it's true that the front-wheel-drive Mitsubishi RVR costs less than the one equipped with all-wheel drive ($24,598 + $2,672 in fees), it's no less impressive to be able to get your hands on a four-wheel-drive SUV for less than $30,000.
Indeed, the RVR isn't very sophisticated, but its pleasant size and efficient powertrain make it an excellent product for tackling Canadian winters. Its engine is reliable and its all-wheel-drive system well thought out.
All this, plus a 10-year, 160,000 km warranty. That makes the Mitsubishi RVR an unmissable bargain!