Electric vehicles are getting more and more affordable. Are you thinking about trading in for something that doesn't depend on fossil fuels? We compiled a list of the cheapest electric cars available in Canada right now...
With all the talk of EV rebates and incentives in the news these days, you may be wondering what you're able to afford. If you’re looking for the most affordable, iZEV-approved electric cars, consider these four all under $45,000 MSRP (Manufacturer’s Suggested Retail Price): Hyundai IONIQ, Kia Niro PHEV, Volkswagen e-Golf, the smart EQ fortwo, Nissan Leaf, Chevrolet Bolt, and the Tesla Model 3.
As one of the most affordable electric vehicles on the market, this battery electric, generously sized hatchback boasts a 200-km range on a single charge. Good for everyday practical driving, the IONIQ has an MSRP of $37,899 and qualifies for the $5,000 federal rebate, plus provincial incentives in BC or Quebec.
The Niro plug-in hybrid is Kia’s first dedicated hybrid platform and it could be a good choice for those with “range anxiety”. While it only gets you 42 kilometres in electric range, the gasoline side will take you a stress-free 853 kilometres. There’s lots of space in this 5-passenger vehicle and its MSRP is $33,965 with up to $6,500 in electric vehicle rebates depending on which Province you live.
The vaunted German automakers’ first foray into full electric is this redesigned, emission-free take on the popular Golf. At 200 km, its range is similar to the IONIQ but retails for a slightly less $36,720, with equal incentive qualification for up to $13,000 depending on whether you live in Quebec or BC.
The revamped Nissan Leaf hatchback is attractive and practical, plus it’s one of the few EVs that has stood the test of time. With its 40kWh battery and 147hp, the base Nissan Leaf SV offers an all-electric range of 243km. The Leaf’s $42,298 MSRP is quite reasonable especially for the range you get, and that’s before the $5,000 federal rebate and any provincial programs.
If you own your own business and purchased a zero-emission vehicle (after March, 18 2019) for work, you can fully expense it against your business income.
The bowtie-brand’s all-electric Chevrolet Bolt hatchback is as sensible as it is efficient. It’s also the top-ranging EV at 383km on a single charge while staying under the $45,000 threshold. That makes it the ideal choice for anyone worried about range – even for hour-long commuters! With the $5,000 federal rebate and any potential provincial rebates or EV incentives, the Chevrolet Bolt has excellent value.
Unless you’re buying an e-bike, it doesn’t come more affordable than the fully electric, ultra-compact fortwo coupe. This vehicle is best suited for city dwellers who want ample parking options and don’t mind the limited 93 km range. With an MSRP of $29,050 and electric car rebate potential of $13,000, this could be the perfect entry option for those on a conservative budget.
The cheapest Tesla model available in Canada, the Tesla Model 3 is a high-performance luxury electric car, even in the ‘entry-level’ Standard Range. This RWD sedan has awesome interior tech and sleek styling. The Standard Range is software-locked to just 150km range so it fits into iZEV-approved pricing at $44,999 MSRP before a $5,000 federal rebate. It also qualifies for a $3,000 provincial incentive in BC and an $8,000 rebate in Quebec. But if you want the higher range and to forego the rebates, the Model 3 Standard Range Plus can take you up to 386km on a single charge.
Whether you're thinking of switching to electric or not, Canada Drives can help you narrow down your search for a great vehicle and get approved for finance within a day! Simply fill out our 2-minute online application, and you could be cruising home in your new vehicle by the end of the week!
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