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How much do electric cars cost in Canada?
I just got promoted and I’d like to buy a new EV as a present for myself! I live in Toronto and I’m wondering how much electric cars typically cost and what I may be able to afford. The Hyundai IONIQ 5 looks kinda cool. Can you tell me how much electric cars cost in Canada?
Elaine Duvet · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congrats on your promotion! An EV is a special gift indeed. You’ll be happy to hear that there are many fuel-efficient, affordable options for electric vehicles in Canada. The
Hyundai IONIQ 5
is actually one of them! Here’s an idea of how much electric cars in Canada cost:- The Hyundai IONIQ 5 is listed for $44,999 CAD and comes with a 488-kilometer range. It qualifies for provincial and territorial incentives, as well as the $5,000 federal rebate.
- The Kia Soul EV costs $42,995 CAD with a 383-kilometer range. It also qualifies for provincial and territorial incentives, as well as the $5,000 federal rebate.
- The Nissan Leafcan be purchased for $37,498 CAD and has a shorter range of 240 kilometers. It also qualifies for provincial and territorial incentives, as well as the $5,000 federal rebate.
- If you want to get fancy, Tesla starts at $59,990 CAD for the Model 3. Drivers will get a 430-kilometer range but are no longer eligible for the federal rebate program
Other popular EVs that are available include the Hyundai KONA Electric ($44,999 CAD), the Mini Cooper SE ($40,990 CAD), the Chevy Bolt ($38,198 CAD), the Kira Niro EV ($44,995 CAD) and the Volkswagen ID.4 ($44,995 CAD).
Now that you have a good idea of what electric vehicles will best fit your budget, make sure you’ve also chosen the best option for your car insurance. Nobody wants to be overpaying for their policy each month, and that’s where
Jerry
can help.The Jerry app collects quotes from 50+ top insurance companies, in seconds! They even help cancel your old policy once you’ve made your select. Users save an average of over $800 a year with Jerry.
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