Toronto Mike

Why a Used Car Might Be More Affordable Than You Think

Credit: Arvid Skywalker Via Unsplash

With the coronavirus pandemic coming to an end, many Torontonians are starting to rethink whether or not the time has come to buy a vehicle.

Though Toronto is one of the easiest cities in North America to navigate using public transit, after more than a year of being extremely limited in terms of mobility, condo-dwellers from Scarborough to Etobicoke are starting to wonder whether having more freedom to get out of the city might actually be worth it.

The good news, for those who are on the fence about picking out an SUV, van, or sedan, is that buying used cars in Toronto might be cheaper than one might think.

If you want to take advantage of Ontario’s easing restrictions, here are three reasons why a used car might be within your budget after all.

1. Used Cars Come with a Wide Range of Financing Options

According to economic experts, the average Canadian family has saved a lot of money over the course of the past year — which is one of the reasons many Torontonians are thinking of buying a car in the first place.

But you don’t actually need to have the full amount in cash in order to drive off a dealership lot in a new used car. Dealerships like Autorama offer a variety of options for financing, with rates as low as 4.99% on some vehicles.

Credit: Obedulla Desai Via Unsplash

2. There are Plenty of Makes and Models Available

People who haven’t had a lot of experience shopping for a used vehicle may not be entirely sure where to start. No one wants to end up stuck with a lemon, after all, and it’s natural to be a little hesitant when venturing into a market as huge as the one for automobiles.

The good news is that unlike when buying from strangers through online marketplaces, used car dealerships only select the best preowned vehicles for re-sale, and valuation tools like Consumer Reports can help you research the best used makes and models in your price range.

With so many used cars available in Toronto, it is easy to find a reliable, recent model of the most trusted vehicles on Canadian roads — including SUVs like the Mazda CX-5, or sedans like the legendary Honda Civic, the most popular compact car in Canada.

3. Payment Plans Can be Tailored to Your Needs

Many first-time auto buyers will naturally be concerned about signing on to an auto loan, especially given the fact that Canada’s economic forecast for the coming year is far from certain.

Fortunately, many used car dealerships are willing to be quite flexible about payment plans, and some even offer the option to put off payments for six months.

If you’ve been yearning to take a long drive up to cottage country so you can soak up the sun by a lake but don’t own your own vehicle, this might be the perfect summer to purchase a used car or SUV. Do your research, get in touch with a local Toronto used car dealership, and you could be flying down the highway before you know it.

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