Editor’s note (March 2026): This page now reflects the Bank of Canada’s March 18, 2026, rate decision, the launch of the federal Electric Vehicle Affordability Program (EVAP) (replacing iZEV), and the federal pause/review of the 2026 ZEV sales‑mandate start. We always provide on-the-ground advice for consumers looking to buy/lease/trade-in, or sell their vehicle, and how you can leverage your CarCostCanada membership to achieve your goals.

Canada’s EV & PHEV Incentives Explained...

The 2025 Hyundai Kona Essential FWD trim costs $26,449, while the NLine Ultimate AWD costs $39,199. Incentives are available for up to $500; lease rates start at 4.99%, while finance rates start at 3.49%.

The 2025 Honda Pilot's price ranges between $53,350 and $65,100. Incentive packages are available for up to $3000. Lease rates start at 4.88%, and finance rates start at 4.88%.

The 2025 Hyundai Kona Essential FWD trim costs $26,449, while the NLine Ultimate AWD costs $39,199. Incentives are available for up to $500; lease rates start at 4.99%, while finance rates start at 3.49%.

The 2025 Honda Pilot's price ranges between $53,350 and $65,100. Incentive packages are available for up to $3000. Lease rates start at 4.88%, and finance rates start at 4.88%.

The 2025 Hyundai Elantra Essential trim costs $22,599, while the N Lines Ultimate Trim costs $31,699, offering up to $500 in loyalty cash. Lease options begin at 5.49%, while financing starts at 4.59%.

The 2025 Toyota Corolla L trim costs $23,970 while the Hybrid XSE AWD trim costs $36,355; lease rates start at 5.59%, while finance rates begin at 5.79%.

The 2025 Hyundai Elantra Essential trim costs $22,599, while the N Lines Ultimate Trim costs $31,699, offering up to $500 in loyalty cash. Lease options begin at 5.49%, while financing starts at 4.59%.

The 2025 Toyota Corolla L trim costs $23,970 while the Hybrid XSE AWD trim costs $36,355; lease rates start at 5.59%, while finance rates begin at 5.79%.