How to budget for a car in Canada?

Credit to Author: Staff Writer| Date: Tue, 26 Sep 2023 14:31:19 +0000

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Planning for the purchase of a first car in Canada? Let’s go!  Here are our quick answers to find out how to buy a car, as well as the key components to keep in mind when budgeting your new purchase.

Other than a house, buying a car is one of the biggest purchases you can make. It’s important to be prepared and know your budget so you can make the best decision. The price of the car is just the beginning. Other costs associated with buying a car include registration, gas, basic maintenance, taxes, insurance and more.

If you don’t have savings to buy a car outright, you can get a loan. A loan comes with interest, which you’ll be paying on top of the cost of the car.

So consider all these factors when choosing a car. Now you just have to decide whether to buy new or used, or lease!

For more answers and information, visit our information hub dedicated to newcomers.  Check out the other articles in this guide here. 

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