What is the cheapest 2024 SUV in Canada? The answer has more to it than you might think. SUVs come in different shapes, sizes, and capabilities, and that works for one household may not do the job for another.
That’s why we’re not just giving you a list of the cheapest SUVs outright. Instead, we’re giving you the most affordable SUV option in each segment. That way, you can focus on your individual needs while saving money as much as possible.
Bear in mind that each of the prices listed below is for a base model, meaning you’ll need to pay more if you’re looking for extra bells and whistles. And sadly, none of these options is available with a manual transmission, which is truly a sign of the times. There are also several brands you won’t find on this list—Ford, Nissan, Honda, Toyota, Jeep and Volkswagen are conspicuous in their absence.
Prices are current for new models as of January 2024 but may change without notice. All prices include destination charges and other fees, but not sales taxes, unless indicated.
The Cheapest SUVs in Canada for 2024
- Most affordable subcompact SUV
- Most affordable compact SUV
- Most affordable midsize two-row SUV
- Most affordable midsize three-row SUV
- Most affordable full-size SUV
- Most affordable plug-in hybrid SUV
- Most affordable electric SUV
Most affordable subcompact SUV in Canada for 2024: Hyundai Venue ($23,556)
Subcompact is the smallest size class on this list. It’s about the right size to fit four adults comfortably, but just barely, with a relatively small cargo space. Think of it as being similar to a hatchback but typically offering more height and ground clearance. Technically, these are more accurately called subcompact crossovers since they’re based on a unibody platform shared with cars, though most people use the terms crossover and SUV interchangeably. A series of price shifts in the industry for 2024 has pulled the Hyundai Venue to the top of this list at a fees-in price of $23,556, edging out 2023’s most affordable new SUV, the Nissan Kicks. This front-wheel-drive (FWD) crossover comes with a 1.6-litre four-cylinder engine producing 121 hp and 113 lb-ft of torque, delivered through a continuously variable transmission (CVT). Cargo space behind the second row amounts to 528 litres, and combined fuel economy is estimated at 7.5 litres per 100 kilometres. Standard features include heated front seats and wireless Apple CarPlay and Android Auto. (If you’re looking for all-wheel drive (AWD) and want something affordable in this size class, consider the Hyundai Kona, Kia Seltos, or Subaru Crosstrek instead.)
Most affordable compact SUV: Chevrolet Equinox ($31,776)
In the compact crossover category, we need another disclaimer: the Chevrolet Equinox is the cheapest compact SUV in Canada, but that’s because it’s been discontinued and it’s therefore being cleared out to make room for Chevy’s upcoming new vehicle, a battery electric version of the Equinox. Nonetheless, the Equinox presents a decent value at a starting price of $31,776 including destination charges and dealer fees. That’s provided you can live with a powertrain that includes a 1.5-litre four-cylinder engine making 175 horsepower and 203 pound-feet of torque, pushing through a six-speed automatic transmission and front-wheel drive, and a relatively small 7-inch touchscreen infotainment system and outdated technology. If you’ve got a higher budget and want something with more up-to-date features, consider cross-shopping with the Toyota RAV4, Honda CR-V, Hyundai Tucson, Nissan Rogue, or Kia Sportage.
Chevrolet Equinox Overview
Most affordable midsize two-row SUV: Subaru Outback ($36,572)
The Subaru Outback is sometimes overlooked, but it is a mid-size SUV through and through, based on the same platform at the Subaru Legacy midsize sedan. And at $36,572 including destination and fees, it’s a relative bargain with its excellent ground clearance and wagon-like body shape that keeps it low-slung while offering plenty of interior space. On the other hand, the 152 hp and 145 pound-feet of torque from the 2.0-litre engine with four horizontally opposed cylinders, as well as the continuously variable transmission (CVT), leave some to be desired, but this is somewhat offset on the value side with the Outback’s standard AWD.
Subaru Outback Review
Most affordable midsize three-row SUV: Mitsubishi Outlander ($37,026)
Another caveat here: technically, the Mitsubishi Outlander is the most affordable seven-seat mid-size crossover available in Canada at a starting price of $37,026 including destination charges and fees. That’s for the gas-powered version, which comes with standard all-wheel drive and a 2.5-litre four-cylinder engine making 181 hp and 181 lb-ft of torque. Plus, it comes with unusual standard safety features like blind spot monitoring and a 10-year powertrain warranty, which is the longest in the industry. However, that third row is really very tight, and it’s not a space you’d want to use on a regular basis. If it’s a mid-size SUV with a full-time third row you were hoping to find here, check out the Subaru Ascent instead. Starting from $44,572, its 2.4-litre turbo four-cylinder boxer engine produces 260 hp and 277 lb-ft of torque, and it seats up to eight while offering plenty of ground clearance and a standard X-Mode system for light off-roading.
Mitsubishi Outlander Review
Most affordable full-size SUV: Chevrolet Tahoe ($73,529)
General Motors has the full-size SUV market all but cornered, especially in the latest generation where independent rear suspension has made the third row in its trio of large SUVs the most spacious around. While the GMC Yukon and Cadillac Escalade are premium offerings, the Chevrolet Tahoe is the most affordable path into this largest class of SUV you can find, priced at $73,529 including destination and fees. This price is for the rear-wheel drive (RWD) entry-level LS trim, which comes with a 5.3-litre V8 engine making 355 hp and 383 lb-ft of torque. Note that on this budget trim, up-market features like adaptive cruise control are not available, even as an extra-cost option. Adding four-wheel drive (4WD) brings the fees-in cost to $76,829, which is still lower than the 4WD entry point for much of the competition. (Note these prices are for 2023 models as 2024 prices had not been published as of this writing. However, we expect the Chevy Tahoe to remain the most affordable large SUV in Canada once 2024 prices are released.)
Most affordable plug-in hybrid SUV: Kia Niro PHEV ($41,183)
Electrification comes in all shapes and sizes in today’s automotive market. But if you’re looking for the most affordable entryway in Canada into an SUV with a plug in 2024, you’re looking for the Kia Niro. Redesigned for the 2023 model year, the subcompact Niro has an estimated fuel economy of 2.1 litres-equivalent per 100 kilometres, making it exceptionally fuel efficient, and it can go up to 55 kilometres on electric power alone from a full charge. The Niro PHEV is priced from $41,183 for the base EX trim level, which also qualifies for the full $5,000 federal EV rebate as well as provincial and territorial EV rebates where they exist, meaning the actual price you’ll pay could be significantly lower depending on where you live.
Kia Niro PHEV Overview
Most affordable electric SUV: Chevrolet Bolt EUV ($43,179)
To go fully electric in a crossover, the cheapest new car you can find is the Chevrolet Bolt EUV (EUV stands for electric utility vehicle). Priced from a manufacturer’s suggested retail price (MSRP) of $43,179 including fees and delivery charges for the entry-level LT trim, the Bolt EUV can take you an estimated 397 kilometres on a full charge. That’s slightly less than the more car-sized Bolt EV, but the Bolt EUV offers an extra 64 millimetres of ground clearance for a total of 14.2 centimetres, and it also has a slightly more spacious interior. The Chevy Bolt EUV qualifies for an additional $5,000 in federal EV rebates regardless of trim, as well as provincial rebates where they exist. Note the Mazda MX-30 electric crossover may slide in below the Bolt EUV: its 2023 pricing starts at $42,650, but 2024 pricing has not yet been announced as of this writing. The MX-30 was discontinued in the U.S. at the end of the 2023 model year but will continue on in the Canadian market into 2024, where its low price and qualification for rebates is keeping it popular despite its diminutive 161-kilometre range.
Chevrolet Bolt EUV Overview