In the spirit of arfcom, I say get both. Mix canola oil from the grocery store with cheap generic dexron ATF, (automatic transmission fluid, not the other ATF). Use a 4/1 ratio, or thereabouts, it is not critical.
Makes a decent gun lube, 80% plant based. It doesn't get sticky or tacky after several months and I have tested it to -10F and it didn't thicken up. Certainly cheap enough.
It does still have that ATF odor, but it is not too bad. Add a couple drops of rose oil, and you won't notice it, though. (Might clash with your cologne, though). Not safe for human consumption, but most of today's gun oils aren't either.
Prior to the development of low acid, (the LA in canoLA), rapeseed oil was used as a lubricant in steam engines, so it is not a new application.
Bio based lubricants have a long history of use as firearm lubes and engine oil. The early aviation engines and race cars used bio based lubricants. The dexron ATF used in my home made mix was originally formulated to replace the sperm oil used in automatic transmissions well into my early driving years.