A vehicular imaging system includes an imaging device having a single imaging sensor capturing image data within a field of view. A control within the vehicle includes an image processor and receives image data captured by the single imaging sensor and receives vehicle data via a communication bus of the vehicle. Responsive at least in part to image processing of captured image data, the control detects converging road features along the road the vehicle is travelling and determines a point of intersection where the converging road features would converge. Responsive at least in part to image processing of captured image data, the control automatically corrects for misalignment of the imaging device mounted at the vehicle.