Top 10 Most Affordable Cars in 2022
Conventional cars now account for approximately 20 percent of all new light-duty vehicle sales in Canada. Not only is selection more limited than in the past, but prices have gone up quite a bit lately. A great example is Honda, where the Fit is dead and the new 2022 Civic starts just shy of $25,000.
If you don’t want an SUV or crossover and would rather not purchase a used vehicle, here are the top 10 cars with the lowest manufacturer suggested retail price (MSRP) in Canada in 2022.
Note: The MSRPs listed on the next few pages are all accurate at the time of writing. However, they are subject to change at any time. They do not include freight and PDE, other applicable fees, or available rebates and offers.
10. 2022 Subaru Impreza – MSRP of $21,995
With standard all-wheel drive and a great low price, the Subaru Impreza is ideal for many Canadian drivers. The sedan is no longer available with the manual transmission, but the five-door hatchback still is, though it lacks Subaru’s EyeSight safety system.
9. 2022 Mazda3 – MSRP of $21,200
In the compact car segment, the Mazda3 lost The Car Guide’s 2022 Best Buy award to the new Civic, but still ranks second. The base model is $3,265 cheaper than the Civic, mind you.
8. 2022 Nissan Sentra – MSRP of $19,498
Completely redesigned for 2020, the Sentra adds a darker-looking Midnight Edition for 2022. A manual transmission remains standard on the base model.
7. 2022 Toyota Corolla – MSRP of $19,450
The Toyota Corolla can still be purchased for less than $20,000 in base trim with the manual transmission. The CVT requires a premium of $2,800. Obviously, one of the main reasons why so many people buy a Corolla is a low ownership cost resulting from excellent reliability and fuel economy.
6. 2022 Kia Forte – MSRP of $18,295
The current Kia Forte enters its fourth year on the market, so a mid-cycle update was in order. Many Canadians will be happy about that. After all, the compact sedan is still the most popular vehicle in the lineup. The 2022 model is just $400 more expensive the 2021 model.
5. 2022 Hyundai Elantra – MSRP of $18,099
The Hyundai Elantra was revised from the ground up for the 2021 model year and returns with no significant changes for 2022. The base model features a manual gearbox. The CVT will cost you an extra $1,900.
4. Kia Rio5 – MSRP of $17,295 (2021)
The Kia Rio5 won The Car Guide’s 2022 Best Buy award in the sub-compact car segment (that’s three years in a row). Watch out, though: the larger and better appointed Forte stands a mere $1,000 above it.
3. 2022 Nissan Versa – MSRP of $16,798
The return of the Versa last year was a gamble by Nissan Canada. Unfortunately, sales are timid. The fact that pricing is a bit too close to the Sentra doesn’t help.
2. 2022 Mitsubishi Mirage – MSRP of $14,098
The Mitsubishi Mirage received a number of cosmetic revisions inside and out for 2021. Its biggest strength is still the reassuring 10-year/160,000 powertrain warranty.
1. 2022 Chevrolet Spark – MSRP of $10,398
The Chevrolet Spark retains the title of Canada’s most affordable new car by a long shot. That’s with the manual gearbox and no air conditioning, though. If you want the latter, you need to specify the CVT and pay an additional $4,300.