Cheapest Electric Cars in Canada in 2020

August 28, 2020

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 for all under $45,000 MSRP (Manufacturer’s Suggested Retail Price): Hyundai IONIQ, Kia Niro PHEV, Volkswagen e-Golf, Nissan Leaf, Chevrolet Bolt, and the Tesla Model 3.

What are the MOST affordable electric vehicles in Canada right now?

Hyundai IONIQ

Hyundai IONIQ, one of canada's most affordable EVs

As one of the most affordable electric vehicles on the market, this battery electric, generously sized hatchback boasts a 274-km range on a single charge. Good for everyday practical driving, the 2020 IONIQ has an MSRP of $41,449 and qualifies for the $5,000 federal rebate, plus provincial incentives in BC or Quebec. If you're in either province, you should double up on the incentives while you can!

Kia Niro PHEV

KIA Niro PHEV, one of canada's affordable EV options

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 can take you much further. There’s lots of space in this 5-passenger vehicle and its MSRP is $35,995 with up to $6,500 in electric vehicle rebates depending on which Province you live.

Volkswagen e-Golf

VW E-Golf, an affordable EV

The vaunted German automakers’ first foray into full electric is this redesigned, emission-free take on the popular Golf. At 198 km, the e-Golf's range is less than the IONIQ, but it also retails for less at $37,890. However, it does come with equal incentive qualification for up to $13,000 depending on whether you live in Quebec or BC!

Nissan Leaf

Nissan Leaf, one of canada's most affordable EVs

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 $44,298 MSRP is quite reasonable especially for the range you get, and that’s before the $5,000 federal rebate and any provincial programs. 

Did you know?

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 when you do your tax return.

Chevrolet Bolt

Chevrolet Bolt, one of canada's most affordable EVs

The bowtie-brand’s all-electric Chevrolet Bolt hatchback is as sensible as it is efficient. It’s also the top-ranging EV at 417km on a full charge while staying under the $45,000 threshold. That makes it the ideal choice for anyone worried about range for roadtrips and long commutes. With the $5,000 federal rebate and any potential provincial rebates or EV incentives, the Chevrolet Bolt has excellent value.

What about the cheapest Tesla?

Tesla Model 3

Tesla Model 3, one of canada's most affordable EVs

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 model has a 150km range and it fits into iZEV-approved pricing at $44,999 MSRP before a $5,000 federal rebate. You can also get the rebate for the Model 3 Standard Range Plus which can take you up to 402km on a single charge.

Did you see anything you like?

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!


Apply for Your Car Loan

Your online application takes only 3 minutes to complete and we only ask for information we actually need.

Get Approved Today

Or feel free to call us at