When working with a $50,000 budget and want a sporty new car, we Canadians have fewer options than our neighbours to the south. We’re also reaching the point where the list of sports cars available on a budget is dwindling. Several of them are on the verge of being discontinued as the industry moves into electrification.
You’ll therefore want to grab an affordable performance car while you can. Here’s a list of the best sports cars you can buy in Canada with a $50,000 budget. There are no BMW, Audi, Mercedes-Benz, Porsche, or other luxury cars on this list, but there are plenty of entertaining options that work within a 50 grand spending cap.
Prices shown include destination charges but exclude regional, environmental, and dealer fees, all of which vary depending on location.
The Best Sports Cars in Canada Under $50,000
- Chevrolet Camaro
- Dodge Challenger
- Dodge Charger
- Ford Mustang
- Honda Civic Si
- Hyundai Elantra N
- Hyundai Kona N
- Mazda MX-5
- Nissan Z
- Subaru BRZ
- Subaru WRX
- Toyota GR86
- Toyota GR Corolla
- Volkswagen Golf GTI
- Volkswagen Jetta GLI
Chevrolet Camaro
Right off the top, we’re launching into a recurring theme. The Chevrolet Camaro is being retired at the end of the 2024 model year in its current form. The nameplate will live on as an EV, but its rear-wheel drive (RWD), gas-guzzling muscle car era is approaching its close. With a $50,000 budget for a Camaro in Canada, you have plenty of options. Pricing starts at $32,543 for the 1LS with the 2.0-litre turbo four-cylinder engine (275 horsepower, 295 lb-ft of torque) and the six-speed manual transmission. The best-equipped coupe you can afford with $50,000 is the LT1, which comes with the 6.2-litre V8 (455 hp, 455 lb-ft) and the 10-speed automatic transmission. This includes a mechanical limited-slip differential, front Brembo brakes, and a domed hood. On the convertible side, our budget will snag you a 3LT with the 2.0-litre engine and a manual transmission, or a 2LT with the 3.6-litre V6 and an automatic.
Dodge Challenger
The Dodge pair of muscle cars—the Challenger and Charger—has been proudly built in Brampton, Ontario, since their launch. But production of gas-powered vehicles is already winding down at this facility as it prepares to retool for EVs. With a higher budget, you could consider one of the Last Call final editions being made for 2023. We won’t approach Hellcat territory with our lower budget. Instead, we’ll need to stick closer to the Challenger’s starting price of $42,490. The Challenger R/T comes in at $48,890 and lets you squeak just under the wire with a 5.7-litre Hemi V8 engine (372 hp, 400 lb-ft), paired with an eight-speed automatic.
Dodge Charger
Looking for four doors in your end-of-the-line muscle car? Look no further than the Dodge Charger, which is bidding Brampton farewell along with the Challenger later this year (2023). Its $45,990 starting price means we won’t climb quite as high within our budget, though. For $49,090, we can drive home a Dodge Charger GT with the Pentastar 3.6-litre V6 (300 hp, 264 lb-ft) with the 8-speed automatic. It comes with 20-inch wheels, a hood scoop, three-mode stability control, and Dodge Performance Pages. We’ll need to take RWD, though. The all-wheel drive (AWD) option brings the asking price up to $52,290.
Ford Mustang
The Blue Oval is the final holdout among the American muscle car manufacturers. Ford introduced the seventh-generation 2024 Mustang in the fall of 2022, announcing it will be sold with four-cylinder and V8 powertrains. That means the 2023s that are currently available mark the end of the Mustang’s sixth generation. Pricing starts at $35,355, although the Ford Canada website is offering additional discounts as of this writing. To stay under $50,000, you can still access the Mustang’s legendary 5.0-litre V8 (450 hp, 420 lb-ft) and opt for the Ford Mustang GT trim. It’s got a price tag of $47,530 with the 6-speed manual transmission or $49,280 with the 10-speed automatic.
Honda Civic Si
In the U.S., a $50,000 budget will get you into a Honda Civic Type R. Here in Canada, if your budget caps at 50 grand, you’ll have to settle for a Honda Civic Si. Instead of arriving from Japan, your Civic Si will ship from Alliston, Ontario. Priced at $37,094, it includes a 1.5-litre turbocharged four-cylinder engine (200 hp, 192 lb-ft). True to character, it’s only available with a six-speed manual transmission and front-wheel drive (FWD).
Hyundai Elantra N
The Hyundai Elantra may be an economy runabout, but the Elantra N is an honest-to-goodness race car. It can be seen competing alongside cars like the Honda Civic Si in touring car series around the world. Here in Canada, you’ll pay $40,206 to own one. You’ll receive a 2.0-litre turbocharged four-cylinder engine (276 hp, 289 lb-ft) and FWD. It’s available with a six-speed manual transmission or an 8-speed dual clutch transmission (DCT).
Hyundai Kona N
While the Hyundai Kona N lags behind the Elantra N in the handling department, some buyers may prefer it for its crossover shape and hot hatchback character. For $43,156 Canadian, you’ll take home the same powertrain and output as you’d get in the Elantra N. In the Kona N, however, there’s no manual available, so the 8-speed DCT is your only transmission option.
Mazda MX-5
Mazda’s affordable little roadster needs no introduction among sports car enthusiasts. But what Canadians may not know is that we can have access to every single MX-5 configuration, soft top or hard top, with a $50,000 budget. The soft top starts at $35,919 and tops out at $43,019 for the GT trim. With the MX-5 RF hard top, pricing starts at $42,919 and caps at $46,019 for a GT. In either case, you’ll have a 2.0-litre four-cylinder engine (181 hp, 151 lb-ft) under the hood, with FWD and either a six-speed manual or a six-speed automatic transmission.
Nissan Z
The new Nissan Z launched last year to significant fanfare. Currently, it’s not available for order at all in Canada due to demand. When the 2024 cars arrive, they’ll likely be snapped up just as quickly. Based on 2023 pricing, you’d need to opt for the Z Sport entry-level trim with a six-speed manual to stay within our budget, which was priced at $48,608. The nine-speed automatic pushes the entry-level trim just over the $50,000 threshold. The new Z comes with a 3.0-litre turbocharged V6 (400 hp, 350 lb-ft) and RWD.
Subaru BRZ
Here’s the Subaru side of one of the latest Subayota collaborations. The Subaru BRZ and the closely related Toyota GR86 detailed below both launched as second-generation cars for the 2022 model year. Unlike most Subies, the BRZ is available in RWD format only. Every version of this little 2+2 seater falls within our $50,000 budget. You can opt for the starting price of $32,772 with the base configuration and the six-speed manual transmission, or you can go for the full-featured Sport-tech with EyeSight safety suite and the six-speed automatic for $38,172. Either way, you get a 2.4-litre displacement with four horizontally opposed cylinders (228 hp, 184 lb-ft).
Subaru WRX
We’d love to be talking about the Subaru WRX STI here, but sadly it has been dropped. If your performance driving preference leans more toward the rally side of things, though, the non-STI WRX is still worth considering. Now in its second generation as of the 2022 model year, the WRX comes with a 2.4-litre turbocharged boxer four-cylinder engine (271 hp, 258 lb-ft). If you’re looking for performance, you may wish to choose the six-speed manual over the Subaru Performance Transmission, which is a fancy name for the brand’s latest continuously variable transmission (CVT). If you take the manual, though, you’ll lose most of the EyeSight safety suite. Pricing starts at $34,852, and the full line-up is available within a $50,000 budget with a top price of $45,752 for the Sport-tech with EyeSight.
Toyota GR86
While you can’t get a GR Supra for less than $50,000 in Canada, you can get a GR86. The Toyota GR86, renamed from Toyota 86 to include the brand’s Gazoo Racing motorsport division, is very closely related to the Subaru BRZ outlined above. It comes with the same 2.4-litre boxer four-cylinder engine (228 hp, 184 lb-ft), RWD, and the same transmissions. The main differences are in bodywork and feature packaging. Toyota’s pricing starts at $34,705 and tops out at $45,565 for the 10th anniversary special edition with the automatic transmission.
Toyota GR Corolla
Who knew a Corolla could be this much fun? Toyota nails the thrills with the driving experience in the hotly anticipated GR Corolla. And with its 1.6-litre 3-cylinder turbocharged engine (300 hp, 273 lb-ft), manual-only transmission, and standard AWD, maybe we won’t miss the Subaru WRX STI quite so much after all. With a budget of $50,000 Canadian, you’re looking at the Core grade and its $48,605 sticker price, but it comes with enough desirable features that you won’t feel you’re missing out by not having access to upgrades.
Volkswagen Golf GTI
Conversion woes strike again. While a $50,000 budget will be enough for an American to score a Volkswagen Golf R, Canadians will have to stick with the Golf GTI. If it’s any consolation, this has been the entry point for the Golf nameplate since the non-sporty versions were cancelled by the automaker back in 2021. The GTI’s 2.0-litre inline four-cylinder engine (241 hp, 273 lb-ft) can be matched either with a six-speed manual or a 7-speed DCT (Volkswagen calls these DSG or direct-shift gearboxes). What you don’t get is AWD: that’s exclusive to the Golf R. Prices for the Golf GTI start at $35,083 for the base model with the manual and cap at $43,883 for the top Performance trim with the DCT.
Volkswagen Jetta GLI
With a four-door sedan body style and plenty of pep, the Jetta GLI might be the biggest sleeper car on this list. Its 2.0-litre four-cylinder engine (228 hp, 258 lb-ft) is also available with either a six-speed manual or a seven-speed DCT and FWD. It comes in a single well-equipped trim priced at $35,633.