How to Pick a vehicle in Toronto?
So, you’re ready to pick a vehicle in the bustling city of Toronto. The process can feel overwhelming, but with the right information, it can also be an exciting journey. Whether you’re a first-time car buyer or looking for an upgrade, this guide will walk you through everything a Toronto driver needs to know.
How to Pick a Car: Figure Out Your Budget
Before you even start looking at cars, it’s crucial to determine your budget. The total cost of owning a car goes far beyond the sticker price. A great first step is to apply for a car loan to understand what you can afford. Remember that your total transportation expenses should ideally be between 10% and 15% of your monthly income.
Here are some of the “hidden costs” to consider:
|
Expense |
Estimated Annual Cost |
Description |
|---|---|---|
|
Insurance |
Varies widely |
Car insurance is mandatory in Ontario. Rates depend on your driving history, postal code, and the car’s make and model. |
|
Gas |
Varies |
Fuel efficiency is a major factor, especially with city driving and fluctuating gas prices. |
|
Maintenance |
$500 – $800+ |
This includes routine oil changes, brake pad replacements, and other services to keep your car running smoothly. |
|
Winter Tires |
Varies |
A must-have for safe winter driving in Toronto, and they can also lead to insurance discounts. |
|
Parking |
Varies |
Whether it’s a monthly fee for a condo spot or daily street parking, this can be a significant expense in Toronto. |
Read More: Trading in a Financed Car
How to Pick a Vehicle That’s Right for You
With your budget in mind, the next step is to think about what you need from a vehicle. Are you a solo commuter, or do you have a family to transport? Will you be navigating tight city streets, or do you need something for highway driving?
New vs. Used
One of the biggest decisions is whether to buy a new or used car. Here’s a quick breakdown:
|
Category |
New Car |
Used Car |
|---|---|---|
|
Pros |
Comes with a full warranty, latest technology, and no prior history. |
More affordable upfront, and you can often get more features for your money. |
|
Cons |
Higher price tag and faster depreciation. |
May require more maintenance and could have hidden issues. |
When buying a used car in Ontario, it’s essential to get a Used Vehicle Information Package (UVIP) from the seller. This document contains vital information about the vehicle’s history, including any recorded accidents and liens.
Read More: Pros and Cons of Buying Low-Mileage Cars
Picking a Car for Toronto Winters
Winter driving in Toronto is a serious consideration. An All-Wheel Drive (AWD) or Four-Wheel Drive (4WD) vehicle can provide better traction on snowy and icy roads. SUVs like the Honda CR-V and Toyota RAV4 are popular choices for their reliability and winter performance. However, even a sedan with a good set of winter tires can be a great option for city driving.
Read More: How Can I Buy a Car
The Car Buying Process
Once you’ve narrowed down your choices, it’s time for the fun part: test drives! This is your chance to see how the car feels on the road.
When you’re ready to buy, you have a few options for payment. If you’re considering getting rid of your old vehicle, you should learn how to trade in a car to potentially lower the cost of your new one.
- Financing: You can get a loan from a bank or through the dealership. Dealerships often have access to competitive rates.
- Leasing: This is like renting a car for a longer period, typically with lower monthly payments than financing.
- Cash: Paying in full upfront avoids interest payments.
At CarRookie, we connect buyers to top agents across Canada. We understand that not everyone has a perfect credit history, and we specialize in helping individuals get a car loan with bad credit.
Frequently Asked Questions (FAQs)
What are the most common mistakes to avoid when you pick a vehicle?One of the biggest mistakes is not getting a pre-purchase inspection for a used car. Another is failing to get an insurance quote before you buy, as rates can vary significantly between models.
Are electric vehicles (EVs) a good choice for Toronto drivers?EVs are becoming more popular, but it’s important to consider your access to charging. While they save on fuel costs, the initial purchase price can be higher.
How does the Harmonized Sales Tax (HST) affect the price of a car in Toronto?You will need to pay the 13% HST on the purchase price of a new or used vehicle.
What's the difference between a safety certificate and a Used Vehicle Information Package (UVIP)?A Safety Standards Certificate (SSC) confirms that your vehicle meets the minimum safety standards in Ontario. A UVIP provides the history of the vehicle. You will need both to register a used car.
How long does the car buying process usually take?The timeline can vary from a few days to a few weeks, depending on your research, financing arrangements, and vehicle availability.
