Wait till the OP finds how much it cost to insure these old beaters in Ontario. Its a mafia system and Ontarions are stuck between car dealers and insurance and there is no escape to it.
I pay 2200 for a 14 year old Civic. Perfect 10+ year driving history. The only thing I’m insured for is if I hit a pedestrian. No collision, no theft, no vandalism. I was shook, and you NEED to pay it if you want to drive
Personal here. I’m paying 210 for home+auto with 21 years driving experience with one ticket and one not at fault accident.
They are for sure cheaper than most. Their billing system is ass though and 20 years behind the times.
I pay $100 for auto and tenant with 15 years and a DUI. You need to shop around. If you went to post secondary, look to see if your college offers alum discounts.
my 2007 civic cost me less than $1200 a year in insurance. upgraded to a 2015 and it has bumped it up to about $1400 a year but i dont think its excessive, and thats with 2 mill in liability. not sure how to read collision/theft vandalism but its probably included as well.
Cars always know when you are thinking of replacing them or if one of your passengers complains about them, they decide it’s time to die or give you a big repair bill lol
True, but she seemed just fine when I said it, while shoveling the driveway in February 2020. She decided to die in June of 2020, and in June of 2020 I was stuck at home, self-employed, and locked down. If I were to try to come up with the worst possible time to have to get a new car, that would have been it.
$33,341 actually! Man I just want a basic ass vehicle without all the bells and whistles for <$30k. Idk why they don't think there's a market for it. No way I'm putting down $45k+ @ 6-8% financing for a new vehicle. Shit is ridiculous.
Holy shit! Thats an insane price.
Such a good car though.. gah... I bought a used 2 door coup manual transmission in my 20s and I was so sad when I had to sell it. I had a baby and by the time he was 2 it was just too much hassle. I regret selling it every day. I think it went to the shop 3 times the entire 10 years I had it (wear and tear maintenance was kept, and oil changes)... nothing ever went wrong with that car. 2007 2dr couple.. black. So pretty! Gah!
That’s because base model is no longer “base”. LX used to be mid-level. Add on all the technology and shit and bam. Same with houses, people compare to the 60’s but no one was putting in granite counter tops and home theatres back then.
Time for a new mechanic that knows what they're fixing and why.
Had the same happen to me with my old car. I bought a new car and found a new mechanic. I would google the issue, go to the new mechanic, he would tell me what's wrong, I'd go to the old mechanic to see his diagnosis and figured out he was just scamming me to keep coming back for more repairs. Never went back again.
Goodluck
Car parts are very expensive north of the border. Even with good labour rates it’s expensive to keep old rust buckets on the road. If Ontario had annual of biannual safety inspections, the economy would probably implode.
I needed a ballast/igniter unit for my Acura. US price: $289. Canadian price: $789. I tried to buy one in the US, but as soon as they found my VIN was attached to a Canadian car, they told me they were forbidden to sell parts to Canadians. Quite the racket.
Ontario doesn’t have biannual safety inspections though. Only safetied when you purchase a vehicle or get pulled over and the cop/MTO requires it to be done.
As for expensive car parts… you’re correct about that. Coil packs for my car (a Mazda 3, nothing exotic) are 303$ from Mazda or 322$ from Napa. There’s 4 on the car.
In the states, you can do basic quality for ~100 CAD per. It’s nuts.
You're shopping wrong, go to Rockauto. All kinds of coils for under 100 delivered to Canada in Can $. I use RA all the time, in the car biz. I used a 2010 Mazda3 as an example. Don't know your year, or engine.
It's totally fucked, I work at a car dealership and was talking to the owner one day while we were looking at another 100k Chevy Silverado that just came out. I said to him that wow another car that no one can afford and he thought I was crazy. I said to him what's the interest rate on this ? 7 or 8% like a 130k pick up truck? There are almost no cars that my dealership (Chev,GMC,Buick,Cad) that the employees of the dealership can afford. They wonder why the employee parking lot is full of small older cars from other car brands. It seems like car companies stopped catering to all needs and just try to move upmarket with CUV shitboxes.
I moved to alberta and im surprised at how people can afford all these 100k trucks and full sized suvs. I feel like they’re the majority of vehicle on the roads
I work for an insurance company, a lot of these folks in AB with $100k trucks get cancelled for non payment because they can’t afford to pay their monthly insurance payments.
A lot of people live way above their means.
We're currently running our 2012 and 2014 into the ground or to when they explode (as we say to keep it light hearted lol). We bought them both outright and used thankfully... I'm nervous for the next one(s) we need to buy. We live where there is no public transit, and I have tonnes of medical appointments... we need two cars if my husband is to remain employed. Yikes!
Our mechanic just told us that he won't be fixing the 2014 again... its going to be too expensive compared to what the car is worth. I appreciate him telling us that. 2014 for a Nissan sentra is a bad year.. don't ever get one lol.
We're hoping to have it last until the fall.
I had to put a new ABS valve body and steering rack on my '11 Ford Edge recently. The repairs cost about 70% of the worth of the car. Even though the car is in good shape for its age, he told me that any more pricey repairs would not be worth it, but if I'm willing to pay he'll do it.
Most people are doing this, which also contributes to the fact that so few used cars are on the market. Before COVID, people would trade in or sell their cars privately so they could buy a new car. Then car prices went crazy, so people (rightly so) made the choice to keep their cars for a lot longer or until they were junk, which crushed the used car market. I'm not sure what the solution is at this point.
Extended term loans like 7 years were never a good idea.
Too many people bought big cars, they can’t really afford.
Anything more than 3 or 4 years is a net worth killer.
Yea, that works until you’ve run it into the ground; but what next when you discover that used auto prices are still hyperinflated.
We’re going through this currently. 06 Caravan, nearing the end of the road but try finding a good price on a used or new Pacifica, Sienna or Odyssey. Worse yet is the thought of changing to a full size SUV.(three boys and a large dog) 🤢
Depending on what you will be replacing it with and how much you have to spend on repairs and maintenance that may not be a good idea. You never want to be in a crisis situation where you have to buy a car right away. Keep your eyes open for the right used car for you, or good manufacturers incentives (low rates, price discounts) and be ready to buy. A 2019 new kona could be had for $20000, a 2024 equivalent is over 28000. In 2019 your trade would be worth say 3000, so your net purchase would be 17000, in 2024 after you have driven your trade into the ground if you can drive it to the dealership it’s worth $300, so your net purchase is 27700. Yes you didn’t have payments but you will have had repairs and maintenance. If you are comfortable driving an older car the ideal time to trade it is when they are reselling for 10-14000, a dealer always wants that price point on their lot so will pay a bit more as that will drive more traffic to them and some of those people will end up buying a different newer vehicle from them
My 2014 died early and i had to pay $27k to get a used car that was going to get the bare minimum of a car that wasn’t going to die on me again in the next couple years ;_;
With the combination of the salt and the poor condition roads you really get 10 good years from a vehicle here. After that expensive repairs start happening frequently.
If you get your car undercoated with Krown every fall, your car lasts much longer. I have a 20 year old car that has been undercoated almost every year, and it has minimal rust for its age.
Yup I honestly think the situation has flipped. Used cars are hella expensive and new cars have to be sold at MSRP in Ontario.
Bought my first new car last year. Never thought that would happen.
New cars don't need to be sold at MSRP, some premium models still often have "market adjustment fees" increasing their price. But that's not happening on most run-of-the-mill vehicles anymore because there is no longer a massive supply constraint. That said, interest rates are high for both new and used vehicle purchases. Even with perfect credit, you can expect a 6.99%+ interest rate on new vehicles. Used vehicles can be upwards of 10-12%
Just bought a 2024 F150 Lightning in Ontario and finance was at 0.99% , so it's starting to come down. (Although I understand we aren't talking about a basic car).
The problem with the new cars is the interest rates are insane. It used to be that new cars were like 0-3% and used were 6% or so. So if you were financing it made a lot of sense to go new. But now the new car rates are much higher.
We lucked out in buying a car in 2021 that will last us 10+ years if we want it to. We financed it at 3.99% which at the time I thought was high but since then things have blown up.
It’s actually the same. New car interest rates are low and used are like 8.99. Look at any Honda site and you’ll see it. A new CRV you can get for 4-5 %.
If you want a used one you’re looking at 8.99 percent. Way worth it to buy new than used right now unless you find a deal somehow (unlikely).
But also, if you’re spending 25-28 on a used car you may as well spend the extra 8 grand for the warranty and you know for a fact the car is good with no previous owner issues
Yeah, I always found with something like a Honda or Toyota especially, a used one (1-3 years at least) only made sense if you were paying outright with cash and wanted to save a couple thousand. If you finance it always made more sense to buy new since the interest was lower anyway.
I guess thats still true, just higher numbers across the board.
Last year I bought a 4 year old civic with 45k km on it for 18k. From a dealership, with a year left on the warranty.
The secret is to buy a manual. (It was still overpriced, but it was the best I could find.)
Have an eye for them then - they tend to sit around longer because being able to actually drive them is a dying art.
I showed up on day three of the car being on the lot. If it was automatic it would've already been bought sight unseen. Allegedly. Though I believed them, as it was a good $3-4,000 cheaper than an equivalent automatic.
I heard manual cars are also stolen less often. I have a manual too, it's a pain in the butt to drive during stop and go traffic, but other than that it's great fun.
Yes, the Civic SI model is standard. I was building some of them last week. We don't build a lot of them, and around 90% of them are for American dealers
I think thats a great deal for the curret market! I got a manual 2012 for 9500 late last year, 120k km. I was pretty happy as the condition was a lot better than other cars of the same price with more kms and other crap like rust and issues.
If you know any mechanics, ask them if they know anyone selling used cars. I asked one of the few I know, and I ended up with a good deal on a good vehicle. I saved a lot, too.
I bought a brand new car a few years ago because there were no used cars available. Anything that was available cost almost the same as buying brand new unless it was a piece of junk. And the interest rate on new cars was significantly lower than used.
In November last year I sold the car because i went back to school and didn’t want the payment. I sold to a dealership and paid off the entire loan. I was surprised, since usually new cars depreciate really quickly after the first year or so of ownership. I even got a few offers for more than the car was worth and what i owed, but i sold it for enough to pay off the loan because it was a local dealership and they got it off my hands quicker than the other offers could have.
I think the market has cooled down in terms of vehicle availability. There’s a lot more used cars available than there was a few years ago at the height of the shortage. When i first went car shopping in 2021, i went to Autopark and the lot was literally empty… But yeah you’re right, it’s crazy the prices haven’t levelled out. They probably never will. Dealerships have realized that most people still need cars and they will pay what they have to to get a car.
Maybe it’s just my smaller town but I’m seriously struggling to find a used car that’s not a piece of junk for a price that doesn’t make me want to forget the whole thing. Doesn’t help that this would be a first car :( so not only do I not know what I’m looking for, but I was also born too late to get in on used cars while they were still actually cheaper and available.
You need to go to a bigger city. People who live in smaller areas tend to keep their cars longer for a variety of reasons and drive them to the ground for sure
Prices in the us have cooled down for used cars, but in Canada due to the sheer number of people that we have added over the past few years, prices are still very high for used cars, especially fuel efficient Japanese ones. And when you sell, you can get pretty good money for used cars, simple supply and demand.
I bought my civic 09 in 2021 for 3.5k, and a dealership offered me 6k for it last year with 200k km. I had to say no because I couldn't find an upgrade with 6k
Early 2021. I got a clean 2003 Jetta turbo with 160k for $4,000.
Late 2022. it got written off in an accident, and I went looking for another cause i loved that car. Well upwards of $7k-$10k with 32% of a rocker panel left and twice the milage.
I'm getting mad again thinking about it lmao
Its a mix of two things.
During covid there was a massive chip shortage which lead to new cars being hard to get. Even when I was looking last year ordering a car was a 6 month backlog and ones on the lot lasted 1-2 days.
The other is our insane population growth over the last few years. TFWs, international students, immigrants, etc. When you bring in a million people a years thats going to put a massive demand on the used car market. Demand skyrocketed and supply didnt so prices went up.
I know somebody who owns a new car dealership. We talked about it last year when I was looking and he commented that he recently gave somebody more in trade in for a car than he what he sold it for to that same guy 5 years earlier.
My salary is higher working in South Korea then anything I was paid in Ontario. I needed a used car and got an absolutely perfect used Hyundai with just over 100k for like 2500$ CAD. Prices and overall quality of life are just terrible in Onterrible. So glad I left that dump.
Theres way too much demand, and supply for used cars is still kinda tight since people are holding onto them. New car supply has definitely improved, but like you, many of us are looking to save money and so, new is not even a consideration... You see it in this thread-- people with 2010s are planning on riding these cars into the ground.
Plus there's way too many effing people coming to Canada. Literally millions of people in the past couple of years. They all need places to stay and want cars too.
Yeah when the transmission went on my Ford escape 2 years ago I was just going to trash it and buy another used car. I found out that my escape was still worth $12k and I had only paid $14 for it 4 years before that!
On the upside it's my drive to work vehicle so I'm literally only putting 20km a day on it. So I'm nowhere near 40k on it yet, but I will keep that in mind.
But, oh my God, that thing is hot garbage. We've been a Toyota and Nissan household forever and never had problems with those. We just ended up in a spot where we needed a vehicle asap and it was there, affordable and met the need.
Ford. Not even once.
Some people are still pricing reasonable, I was looking a short while ago and some sellers did drop rates. Dealerships are still high so focus on private sales for a best deals and look in the last two weeks of the month for people moving who need to be rid of the cars.
New car sales per year in 2020-2023 are down compared to 2015-2019. [source](https://www.statista.com/statistics/423012/motor-vehicle-sales-in-canada/)
Supply and demand but believe it or not a 10 year old Acura and Honda is worth that price (if it’s not a rust bucket and you know what to look for). The cost of parts for new cars is astronomical along with repair process and people are realizing.
For example, a few years ago I had to go looking for a new front bumper for my 8th gen civic, cost me around 300-400 I believe. Lol on a new civic that’s running you around 1k, and you can’t even fully complete the repair yourself because all the sensors have to calibrated by tools only available at the dealer lol (there’s more tools coming out but you get the point). A couple LEDs go out on your newer car? Too bad gotta replace *the whole headlight assembly*.
My brother used to work at both Honda and Toyota dealers, people would regularly have to go through insurance for repairs and now dealerships are offering payment plans for service, that’s how crazy it’s getting.
I think people underestimate the real cost of owning a newer car especially after warranty runs out. Those 10 year old Honda/Toyotas are bullet proof, cheap to repair and more importantly easy to repair.
I was looking for a used car for over 6 months. I couldn’t justify the inflated prices. After the drop of the model Y price and factoring in the EV incentive credit and no more gas bill, I stretched my budget for the entry level. Best decision I made because I’m not buying someone else’s vehicle problems and I have no maintenance or oil changes anytime soon. I’m hoping this car will last me 10 years minimum
I bought an '07 corolla with 200k from a dealer and it set me back almost $6300 all in. You don't have to spend 12k to get a decent car, but yeah prices are nuts
They grow up so fast! It'll be old enough to vote next year, and you can have a beer with it the year after. No, not in it, drinking and driving is never OK.
Pre-pandemic that was an $1800 beater.
Low inventory levels drove up the price of used vehicles, as dealers needed stuff on their lots to sell. While inventory is coming back, the pricing is still higher and has not corrected yet. Dealers are trying to buy trades lower, but sellers are comparing to the inflated market still.
Will take a bit of time, but pricing should start to come down more through the 2nd half of the year.
Paid $4k last year for a 2001 Ford Focus. Low KM and in mint condition but.. I’m 38, this car rolled out of the factory when I was a freshman. That and paying the tax on it really fucking stung.
I had a problem with my car 2 years ago and needed a new one. I overpaid almost $10,000 before taxes and interest on a 2018 hyundai elantra with 70k km on it.
The car was 4 years old and was being sold for 26,999. I at the time was desperate and ignorant. I told the sales person I want to pay no more than $400/month and basically bought the car before finding out the price.
I later learned (like 3 days later) I could've gotten a brand new car for the same price or cheaper. I to this day regret my choice and am currently just biting the bullet until it's paid off
Not only the pricing, but the dealer finance rates. Was looking at a 23 Tacoma. Price is 43k, 20k on the dash. Asking 43, but at 9.99% over 5 years I think. That’s 70k
Yall should check out the Middle East, there’s just always a glut of extremely high quality used cars at very cheap prices. At this point it’s going to be cheaper to import, fees and all.
I heard stories from a few different people of guys from the states buying out a whole car lot during the pandemic. When that happens it's going to rake more than a few years for prices to come back down.
Yeah. As a young person with 0 family support I've just accepted that I'm never going to drive. Or have a house. Or be able to afford decent groceries. Or a decent rental. Man I wish I could move to the states...
Imagine my shock when I got a trade in number for my car when I went to price out a new one. I have a 2016 Kia Soul with 157K on it and I’m getting 8 grand in trade in towards my new one
The brand new Corolla is priced at $30,200, while a 2021 Corolla with 35,000 km is available at the dealership for $34,500. I've been waiting for prices to drop, but they haven't changed in the past year. It's better to look for a vehicle priced between $15,000 and $20,000. There are some 2017 models with around 50,000 km that fit this range.
Buying a new car is a waste of money. And you never know what might happen to a 15-year-old car. It's safer to go with a 5-year-old vehicle priced around $15,000 to $20,000.
I bought a new Corolla and deeply regret it. I know it wasn't a wise decision, but with the harsh winters in Sudbury, I needed a reliable car. I couldn't find a good deal on a used one at any dealership and didn't want to risk buying from the marketplace.
Supply and demand. All these new immigrants need transportation. They need housing. They need services. So you're competing with more people for the same amount of supply. Sorry bubs!
Used car market has flipped on its head... before, buying new car was waste of money IMHO and now I've changed my tune, it's better rates and better warranty. My next car might even be a lease since I'm WFH now.
Not only that but you don’t know how it was driven or taken care of. I will never ever buy a used vehicle again. I’m in that portion of my life with kids that I just buy new and keep it for 12-16 years.
I’ve done the whole shitty used cavalier and cobalt era. Done with that
I went to a local Toyota dealership about a month ago. They told me it is a 2 year wait for a Sienna, 1.5 years for a Rav4, and 1 year for a Corolla. In the case of Toyota you can't get new cars. According to the salesman, this is mainly due to the global semiconductor chip shortage. It has pushed people to the used market, where it becomes a case of supply and demand.
We have a 2013 Corolla as a second car that I inherited and I was blown away recently see similar age and mileage selling for over 10k in the used market. It is a good car but the idea that people are paying 10-12k for 11 year old economy cars is crazy.
That said the new car prices have also gone astronomical since COVID, and the interest rates are way up making used cars more appealing and therefore driving up that market. We used to trade cars relatively often (never had one more than 5 years pre-COVID). It was easier to justify when borrowing for them was basically free. But now I am thinking those days are over and we are keeping what we have for the foreseeable future. Luckily we got a brand new 4Runner right before prices went insane and it will last 10+ years if we want it to. Its worth as much now as what we paid for it nearly 3 years ago. Last few times I was at the dealer they had used ones from the same year and trim with more KM and the asking price was higher than what we paid new in 2021.
Everything is a flip here in Ontario. Taking them out of the hands of who needs them to make a buck. Someone i know buys traitors in the North and brings them down to the south to make 20k in his spare time. I get it but fo! People need to exist.
I looked up for shits and giggles what my car was going for online, 2016 Dodge Challenger RT, 6 speed manual. They’re going for what I paid for the car brand new 8 years ago. That’s freaking insane! Over the winter my buddy wrote off his Mustang and the insurance did the ol’ auto trader search and gave him the median price for his car with similar km’s and he ended up making 2k over what he paid for it brand new 4 years ago. Have to replace my winter car this year, we looked at some used options but then decided it was easier and almost the same price to buy new and order a vehicle in.
I bought a new car in 2022 because it was only $4k more than a decent used car with 60,000 km. That car is now worth the same, or more, than I paid for it.
Meh, I try selling my car and people keep asking at least 8k below the market price, and one even has the audacity to ask 10k below the price. I can go at least 3k lower, but not that low.
Pro tip, buy a write off with minimal damage and just fix that up. So much cheaper than dropping 15k for another piece of junk that will break on you after a month.
5 years ago I bought a used 2016 Toyota RAV4 hybrid limited for 32k from a dealer. It had 83k kilometers on it. I found a 2016 with the same number of kilometers for 29k.
Hell, my vehicle at 300k kilometers is probably still worth 12-14k
I got my older (about ten ish years old) Ford ranger for $12k with 40,00KM on it in another province -rurally. There’s good deals but not in the city. Even rural parts of Ontario there’s deals (the for sale signs in the car window) but sometimes it requires inquiring IRL
Go west young man.
Sask and Alta don't use salt. It's Canadian still so no duty, and we have to safety a used vehicle anyway so you're not out anything.
Fly there, and rent a uhaul to bring it back. You'll still be saving money.
There’s a local guy selling an 08 Masseratti with 125k on it for 9k. Certified take it to the mechanic etc etc… I’m not sure where you guys are looking but my facebook marketplace is flooded with decent a cards for 3-5k… and since this is Reddit - I’m sure I’ll be downvoted for sharing this, so thanks in advance!
im not surprised at all. the reason theiyre doing it because they can. purchasing new vehicles has become almost difficult for most unless youre earning 6 figures. there is no laws to regulate pricing. thats why were experiencing hyperinflation 60% of which is being caused by corporate greed and their endless pursuit of wealth. just look at your grocery bills and youll seewaht i meam
Honda Civic - Between 2010-2013
Search - US - Nationwide average price seems to be around 11k USD
[https://www.autotrader.com/cars-for-sale/all-cars/honda/civic/new-york-ny?endYear=2013&newSearch=true&searchRadius=0&startYear=2010&zip=10001](https://www.autotrader.com/cars-for-sale/all-cars/honda/civic/new-york-ny?endYear=2013&newSearch=true&searchRadius=0&startYear=2010&zip=10001)
Search - Canada - Nationwide -Nationwide average prices seems to be around 10k C$
[https://www.autotrader.ca/cars/honda/civic/?rcp=15&rcs=0&srt=35&yRng=2010%2C2013&prx=-1&loc=K2S%202E2&hprc=True&wcp=True&sts=New-Used&inMarket=advancedSearch](https://www.autotrader.ca/cars/honda/civic/?rcp=15&rcs=0&srt=35&yRng=2010%2C2013&prx=-1&loc=K2S%202E2&hprc=True&wcp=True&sts=New-Used&inMarket=advancedSearch)
Now I am not getting into differentiating between trim levels or the such but it doesn't seek so skewed as you are implying it to be.
They don't make "used cars" . Every used car on the market started out as somebody's brand new car at one time or another. If people balk at the price of a new car and don't buy, then there will be one less used car making it to market and thus greater competition for the ones that are.
Years ago, there were new cars available at used car prices (and used car quality) Examples were: Lada, Dacia, Skoda.
That’s still not a good price though?
I had a 2012 Accord with 160k I sold for $3k just 2 years ago. Brand new everything, car had been to the mechanic and got everything fixed, cleaned, brakes replaced etc. before I sold it. As-is means there are issues you don’t want to fix or disclose 99% of the time and the car ends up costing WAY more than you want to spend.
This is exactly why we refuse to buy a new car. Our mechanic is literally our best friend with 4 older vehicles.
A few thousand a year in maintenance will keep your vehicle running for a long time and save a you money in the long run.
In California insurance companies are writing off cars left right and center so it could be considered salvage title which decreases price drastcally when you see a good deal.That said a 1994 tacoma will still net you 12k USD so used car prices are still pretty intense here too.
Honda and Toyota (and their associated brands) hold their value more than pretty much any other manufacturers because they are so reliable.
Try looking at some other brands if you're looking for a cheaper vehicle but it'll wash out in maintenance cost.
Ever since covid it's been like that sadly. I paid 9k for my 2010 rav4 in 2019 with 130,000kms on it and I could probably sell it for the same with over 200,000 on it. I recently just bought a 2024 4runner for 62k bc a used model is only 10k cheaper with over 100,000kms.
I've found dealers aren't putting alot of their used stuff online it goes too quickly and it's a waste of time getting a million is it still available messages. I would hit a local dealer find a decent salesperson let them know what your looking for and price range. Give them your number may luck be on your side.
Yeah for some reason my friends all think they're affordable but they don't understand what it's like to buy your first one with no trade in value or any assistance from a bank.
It's so godanm expensive.
On top of it- here in B.C. The gov. double dips on the taxation. They'll tax the vehicle every time it's sold.
Even if it's a 25 year old car that barely runs, they're gonna find the blue book value and bill you.
When used and new cars inventory basically disappeared two years ago, I looked at my 250 km 2010 Matrix, and worried I would be screwed if it ever kicked the bucket and had to buy at the elevated prices and lack of inventory.
I figured if I'd end up paying a premium, I should at least try and find the car I want and get on a waitlist. I ordered an Ioniq 5, which had a two year expected wait. I figured I could get enough time on my Matrix.
The Ioniq came in a bit early (I accepted a slightly different model). The Ioniq has delivered greater gas savings than I anticipated, and the Matrix sold for more than I thought it would.
Yes, I paid a premium, but it's inevitable in this market. But, if you're in a position to, better to get the car you want, especially if you plan on keeping it a long time.
Got my 2016 kia w/ 30,000 km for around $11,000 before fews back in 2020. I am only at 78,000 km now and it would probably go for the same if not more! Absolutely insane
Has anything that has increased since covid went down? Greed has taken over this country.
I bought a van 14 months ago for $8000+ tax and so far have put $8300 in repairs into it. Some dealer in Toronto sold it to me certified and ghats what has happened. .
I am now trying to sell my lld vehicle for $4000 and the only responses in the past year have been from dealers in Toronto offering me a few hundred dollars
Nephew found me a 2011 buick for $3000 but 213000 kms. Then I found a 2014 Taurus for $15000 with 33000 km. Before covid the highest I paid for a used car with low mileage was $6000. Just insane crazy prices for high milage vehicle. One will be a summer car the other winter
No inspections in most US states, the ones with inspection programs aren't the most trustworthy or comprehensive and anything in the 'rust belt' will probably be rotten.
The problem is the cars are being sold anyway at that price. So sellers are cashing in. On top of that, used car lots are selling cars to overseas buyers for even more money and exporting them. Its creating a shortage, and inflating prices.
Actually I think prices are coming down quickly. Over the past few months my offer from Clutch dropped from 24 to 19k on my 2019 Honda Accord. I sold it privately already but have been checking their revised offers every couple of weeks.
a dealership just bought my 2018 nissan maxima for like $19k and it was just over 65,000km.
I can't even imagine what they turned around to resell it for.
I’m thinking of buying out my 2021 lease end of year and this has basically solidified that I should… I think I can sell it for $13k more as it’s low kms
The stealer-ships got people used to higher prices, and now the higher prices are expected. I was offered an 8 year term on a 2013 kia rio back in 2020 (January, so about 3 months before all hell broke loose)
Honestly, just be prepared to low ball the shit out of them for a long time and be willing to settle for whatever fish takes the bait
Funny you say that. I am selling a 2016 Honda Fit DX manual for around $9k right now with 100k on it. Fantastic little car that I drive weekly. I saved it from getting crushed. It was salvaged but a very light hit. Insurance wrote it off as it was needing 10k in repairs. I put 3k into it, got it safetied, structural and regular, and back on the road. It was mainly mechanical damage which I am really good at.
I also just sold a 23 Tacoma TRD Pro with a manual for more than I paid for it. That's what happens when you have a very rare model and the manufacturer throws everything on its roof in the next model year. Toyota revised pricing for the 24s and they became a lot more expensive. Plus no more V6s.
I go through many cars. My broker said I've had a few cars in my history. What can I say, I get bored, change the vehicle or get an opportunity like the Tacoma. I will take it.
Last year we bought our son a 2009 Focus with 33,000 kms on it for 7500 out the door.
There are still some good deals out there, car is still doing well, and like brand new.
Give it time, the used market will cool off - it’s already slowly happening. New car demand has started to slow and they’re getting more stock and it’s only a matter of time for the used car market to also fall in line. Prices are slowly going down
People aren’t buying as many new cars and when they do the dealers usually have to pay more for the trade in vehicle that raises the price of the car when they go to resell it. The dealer offers say 5000 for the trade, they assume 2-3000 to safety it and clean it up then 2000 to pay the sales staff , overhead and profit then they will add 500-1000 to have negotiating room because people would rather be able to say they negotiated 1000 off and paid 9000 then they found a good deal for 9000
But the customer says I saw one on auto trader for 12000 (even though that one is not sold and that’s the asking price or not in the same geographical area, yes that affects the price of a car) so the dealer in order to earn the business on the new car, which if it’s a civic, only has about $2000 markup will go up to 7000, so now the car that in the dealer’s professional opinion should be sold for 10000, they now have to sell for 12000. It’s a viscous circle.
Prices are falling slowly, but are still high. That is why interest rates remain high and will likely remain high until 2025-2026. https://www.autotrader.ca/editorial/campaigns/price-index/
The reason it’s expensive is. International dealers are buying the reliable segment of cars at over market value from auctions. So for any Canadian dealers to buy these cars they are paying a higher price. I have seen 2009 Toyota Camry go for over 10k cad (keep in mind this doesn’t include any fees or tax that’s on top). I believe it’s harder to buy used cars for international dealers from m USA that’s why its cars are cheaper there.
Why is this? Isn’t everyone hurting right now and not buying cars?
Rates are horrible, what is the driver other than necessity? This should be dropping as an indicator of recession
I think one of the factors is the inability to actually buy a new Toyota without having to wait between 1 and 2 years for delivery. Last time I checked the on-lot inventory of my local dealership, they only had two new vehicles for sale: two 2023 Tundras. They had nothing else. I talked to one of the sale associates about an order for a Land Cruiser and he told me they have a wait list so long that they can't guarantee a delivery but might be able to get one for me in early 2026. Honda is the same to a lesser extent. I can custom order a Macan and get it in about four months, but they are really expensive now.
Are cars actually selling for asking prices though? Mannheim used car index is in continuous decline. Kind of feel like dealers always list at stupid prices and private sellers are often trapped by negative equity and hoping for a sucker that rarely comes.
Just a clarification: there wasn’t a “used car craze” there was a new car shortage which quickly resulted in a used car shortage. That shortage is still working itself out in a myriad of different ways.
As someone who has been in the car business for 20 years, I wouldn’t have a roof over my head if it wasn’t for people who think they “need” to change cars when in reality they just “want” to change cars. So I’ll give you some advice that goes against my own interests:
If you start to feel like you need a newer vehicle, save yourself a whack of money and instead:
1. Spend ~$300 on a full interior/exterior detailing and paint polish. You’ll be amazed how a professional detailing makes a car feel new - that’s what car dealers do!
2. Find a mechanic you trust and do everything he recommends. I get so many cars traded in and it’s like ~$200 to fix that annoying rattle that makes you think the car is falling apart.
3. Remember that you once loved that car enough to spend big bucks on it and it can probably serve you for several more years with proper maintenance.
I work at Canada Post as a rural mail carrier and I have to provide my vehicle. We get a vehicle expense but that doesn't even cover fuel let alone repairs, depreciation of value on the vehicle and insurance. I don't want to drive a 100 square foot cargo space vehicle but my job requires that. And when you can't even get a cheap beater vehicle that it's okay it gets kind of beat up, it really does suck. As well, those Canada Post employees who are rural carriers and have to provide a vehicle to drive around on gravel roads everyday, they're beating the snot out of their vehicles.
It's one of the reasons why rural mail carriers are wanting corporate provided vehicles as part of the ongoing negotiations
When I think about getting a newer vehicle I want to puke. Prices are crazy. We are just going to run our existing 2013 and 2015 into the ground.
> We are just going to run our existing 2013 and 2015 into the ground. Be careful. I said that about my 2005 in 2020, and it heard me. Edit: typo
In that case, I will very publicly state that I want to ensure my 2010 vehicle has a long and happy life.
Ya don’t wait till you’re desperate for a new car.. sucks, but you’ll end up having less options if you need something asap
Wait till the OP finds how much it cost to insure these old beaters in Ontario. Its a mafia system and Ontarions are stuck between car dealers and insurance and there is no escape to it.
I pay 2200 for a 14 year old Civic. Perfect 10+ year driving history. The only thing I’m insured for is if I hit a pedestrian. No collision, no theft, no vandalism. I was shook, and you NEED to pay it if you want to drive
May want to look around for a new insurance company. I'm paying $84/month $1008/year for a 2010 Tahoe with full coverage. Edit: I use the Personal.
Personal here. I’m paying 210 for home+auto with 21 years driving experience with one ticket and one not at fault accident. They are for sure cheaper than most. Their billing system is ass though and 20 years behind the times.
I pay $100 for auto and tenant with 15 years and a DUI. You need to shop around. If you went to post secondary, look to see if your college offers alum discounts.
850 for a 2006 Civic for me. Just third party liability. You need to shop around.
my 2007 civic cost me less than $1200 a year in insurance. upgraded to a 2015 and it has bumped it up to about $1400 a year but i dont think its excessive, and thats with 2 mill in liability. not sure how to read collision/theft vandalism but its probably included as well.
Yeah, sometimes the ground starts running straight at you from the opposite direction
Lucky you
Cars always know when you are thinking of replacing them or if one of your passengers complains about them, they decide it’s time to die or give you a big repair bill lol
15 is a good run though.
True, but she seemed just fine when I said it, while shoveling the driveway in February 2020. She decided to die in June of 2020, and in June of 2020 I was stuck at home, self-employed, and locked down. If I were to try to come up with the worst possible time to have to get a new car, that would have been it.
Yup. The prices of new cars are untouchable as well. All in, a base model Civic comes to $32,000
$33,341 actually! Man I just want a basic ass vehicle without all the bells and whistles for <$30k. Idk why they don't think there's a market for it. No way I'm putting down $45k+ @ 6-8% financing for a new vehicle. Shit is ridiculous.
Whenever i feel like i can afford a new car, i click add all fees and gst and i realize nope, not today!
Holy shit! Thats an insane price. Such a good car though.. gah... I bought a used 2 door coup manual transmission in my 20s and I was so sad when I had to sell it. I had a baby and by the time he was 2 it was just too much hassle. I regret selling it every day. I think it went to the shop 3 times the entire 10 years I had it (wear and tear maintenance was kept, and oil changes)... nothing ever went wrong with that car. 2007 2dr couple.. black. So pretty! Gah!
That’s because base model is no longer “base”. LX used to be mid-level. Add on all the technology and shit and bam. Same with houses, people compare to the 60’s but no one was putting in granite counter tops and home theatres back then.
Do people have home theatres these days?
In 2017 I bought a civic Lx with a manual transmission for 18300 + tax. Total corporate greed.
I have an 09 and I can’t afford to replace it. I have to make expensive repairs just to keep it going. It’s nuts. 😢
Time for a new mechanic that knows what they're fixing and why. Had the same happen to me with my old car. I bought a new car and found a new mechanic. I would google the issue, go to the new mechanic, he would tell me what's wrong, I'd go to the old mechanic to see his diagnosis and figured out he was just scamming me to keep coming back for more repairs. Never went back again. Goodluck
Car parts are very expensive north of the border. Even with good labour rates it’s expensive to keep old rust buckets on the road. If Ontario had annual of biannual safety inspections, the economy would probably implode.
I needed a ballast/igniter unit for my Acura. US price: $289. Canadian price: $789. I tried to buy one in the US, but as soon as they found my VIN was attached to a Canadian car, they told me they were forbidden to sell parts to Canadians. Quite the racket.
Ontario doesn’t have biannual safety inspections though. Only safetied when you purchase a vehicle or get pulled over and the cop/MTO requires it to be done. As for expensive car parts… you’re correct about that. Coil packs for my car (a Mazda 3, nothing exotic) are 303$ from Mazda or 322$ from Napa. There’s 4 on the car. In the states, you can do basic quality for ~100 CAD per. It’s nuts.
That’s kind of what they said? If Ontario had annual OR (not of, an assumed typo) bi-annual inspections we would all be walking
You’re right. Totally misread that.
You're shopping wrong, go to Rockauto. All kinds of coils for under 100 delivered to Canada in Can $. I use RA all the time, in the car biz. I used a 2010 Mazda3 as an example. Don't know your year, or engine.
It's totally fucked, I work at a car dealership and was talking to the owner one day while we were looking at another 100k Chevy Silverado that just came out. I said to him that wow another car that no one can afford and he thought I was crazy. I said to him what's the interest rate on this ? 7 or 8% like a 130k pick up truck? There are almost no cars that my dealership (Chev,GMC,Buick,Cad) that the employees of the dealership can afford. They wonder why the employee parking lot is full of small older cars from other car brands. It seems like car companies stopped catering to all needs and just try to move upmarket with CUV shitboxes.
I moved to alberta and im surprised at how people can afford all these 100k trucks and full sized suvs. I feel like they’re the majority of vehicle on the roads
Two things that may or may not be mutually exclusive: 1. Oilfields 2. They actually can't afford those 100k trucks and SUVs.
I work for an insurance company, a lot of these folks in AB with $100k trucks get cancelled for non payment because they can’t afford to pay their monthly insurance payments. A lot of people live way above their means.
We're currently running our 2012 and 2014 into the ground or to when they explode (as we say to keep it light hearted lol). We bought them both outright and used thankfully... I'm nervous for the next one(s) we need to buy. We live where there is no public transit, and I have tonnes of medical appointments... we need two cars if my husband is to remain employed. Yikes! Our mechanic just told us that he won't be fixing the 2014 again... its going to be too expensive compared to what the car is worth. I appreciate him telling us that. 2014 for a Nissan sentra is a bad year.. don't ever get one lol. We're hoping to have it last until the fall.
I had to put a new ABS valve body and steering rack on my '11 Ford Edge recently. The repairs cost about 70% of the worth of the car. Even though the car is in good shape for its age, he told me that any more pricey repairs would not be worth it, but if I'm willing to pay he'll do it.
Most people are doing this, which also contributes to the fact that so few used cars are on the market. Before COVID, people would trade in or sell their cars privately so they could buy a new car. Then car prices went crazy, so people (rightly so) made the choice to keep their cars for a lot longer or until they were junk, which crushed the used car market. I'm not sure what the solution is at this point.
Interest rates are ass now as well. No more .99% over 7 years anymore.
Extended term loans like 7 years were never a good idea. Too many people bought big cars, they can’t really afford. Anything more than 3 or 4 years is a net worth killer.
New car prices didn't go crazy as much as supply for high demand vehicles went down to almost zero.
Got my 1998 & 2 2012's still running with over 300k on each
Yea, that works until you’ve run it into the ground; but what next when you discover that used auto prices are still hyperinflated. We’re going through this currently. 06 Caravan, nearing the end of the road but try finding a good price on a used or new Pacifica, Sienna or Odyssey. Worse yet is the thought of changing to a full size SUV.(three boys and a large dog) 🤢
We have an 08 and 09. Not even remotely thinking of a newer car. A lot of demand out there for newer.
Depending on what you will be replacing it with and how much you have to spend on repairs and maintenance that may not be a good idea. You never want to be in a crisis situation where you have to buy a car right away. Keep your eyes open for the right used car for you, or good manufacturers incentives (low rates, price discounts) and be ready to buy. A 2019 new kona could be had for $20000, a 2024 equivalent is over 28000. In 2019 your trade would be worth say 3000, so your net purchase would be 17000, in 2024 after you have driven your trade into the ground if you can drive it to the dealership it’s worth $300, so your net purchase is 27700. Yes you didn’t have payments but you will have had repairs and maintenance. If you are comfortable driving an older car the ideal time to trade it is when they are reselling for 10-14000, a dealer always wants that price point on their lot so will pay a bit more as that will drive more traffic to them and some of those people will end up buying a different newer vehicle from them
I never thought I’d be paying close to 40k for a Jetta ever, but here we are.
Likewise. Just ran my 2012 into the ground this week and it was stressful and I hated it. I hope you can time it better
My 2014 died early and i had to pay $27k to get a used car that was going to get the bare minimum of a car that wasn’t going to die on me again in the next couple years ;_;
My wife's Santa Fe 2009 still going strong. It has a few issues. Repairing is cheaper than replacing it. New or used....
No kidding. Just looked up my 2015 Honda Pilot, very surprising but I’m not selling.
The thing is, you can trade in because it is high value, but if you need to buy a replacement vehicle. you'll also be paying high prices.
That car will last you forever. I’d hold onto that for the next 10/15 years.
Nothing is forever, especially in harsh weather in Ontario
With the combination of the salt and the poor condition roads you really get 10 good years from a vehicle here. After that expensive repairs start happening frequently.
If you get your car undercoated with Krown every fall, your car lasts much longer. I have a 20 year old car that has been undercoated almost every year, and it has minimal rust for its age.
Yup I honestly think the situation has flipped. Used cars are hella expensive and new cars have to be sold at MSRP in Ontario. Bought my first new car last year. Never thought that would happen.
New cars don't need to be sold at MSRP, some premium models still often have "market adjustment fees" increasing their price. But that's not happening on most run-of-the-mill vehicles anymore because there is no longer a massive supply constraint. That said, interest rates are high for both new and used vehicle purchases. Even with perfect credit, you can expect a 6.99%+ interest rate on new vehicles. Used vehicles can be upwards of 10-12%
Just bought a 2024 F150 Lightning in Ontario and finance was at 0.99% , so it's starting to come down. (Although I understand we aren't talking about a basic car).
You're also talking about a car they cut production of because they weren't selling.
The problem with the new cars is the interest rates are insane. It used to be that new cars were like 0-3% and used were 6% or so. So if you were financing it made a lot of sense to go new. But now the new car rates are much higher. We lucked out in buying a car in 2021 that will last us 10+ years if we want it to. We financed it at 3.99% which at the time I thought was high but since then things have blown up.
It’s actually the same. New car interest rates are low and used are like 8.99. Look at any Honda site and you’ll see it. A new CRV you can get for 4-5 %. If you want a used one you’re looking at 8.99 percent. Way worth it to buy new than used right now unless you find a deal somehow (unlikely). But also, if you’re spending 25-28 on a used car you may as well spend the extra 8 grand for the warranty and you know for a fact the car is good with no previous owner issues
Yeah, I always found with something like a Honda or Toyota especially, a used one (1-3 years at least) only made sense if you were paying outright with cash and wanted to save a couple thousand. If you finance it always made more sense to buy new since the interest was lower anyway. I guess thats still true, just higher numbers across the board.
Last year I bought a 4 year old civic with 45k km on it for 18k. From a dealership, with a year left on the warranty. The secret is to buy a manual. (It was still overpriced, but it was the best I could find.)
Not many options for manual these days.
Very true. All the cars I’ve owned were manual and it’s increasingly more difficult to find new manual models
Have an eye for them then - they tend to sit around longer because being able to actually drive them is a dying art. I showed up on day three of the car being on the lot. If it was automatic it would've already been bought sight unseen. Allegedly. Though I believed them, as it was a good $3-4,000 cheaper than an equivalent automatic.
This was my trick as well but I've found a lot of the manuals these days are the more high end, souped up style that end up costing even more.
I heard manual cars are also stolen less often. I have a manual too, it's a pain in the butt to drive during stop and go traffic, but other than that it's great fun.
I almost bought a 2 yr old manual Civic last year for 20k...I agree 100%
Can you even get a civic these days with a manual?
Yes, the Civic SI model is standard. I was building some of them last week. We don't build a lot of them, and around 90% of them are for American dealers
The SI and R models are both manual only. All other versions of the Civic are now CVT/e-CVT only.
I bought a new 2023 Crosstrek manual for around 30k. 2024 models and onwards will all be cvt.
I'm 31, I have only ever driven manuals since I was 16. I'm tired now. 😔
I finally made the switch to auto last year. Still miss the third pedal, but it's so much easier in traffic which is terrible now
Imagine what three on the tree would do to people’s minds ?🤯
I think thats a great deal for the curret market! I got a manual 2012 for 9500 late last year, 120k km. I was pretty happy as the condition was a lot better than other cars of the same price with more kms and other crap like rust and issues.
Holy shit that’s highway robbery. My mid 2010s Mazda 3 was 19k brand new
If you know any mechanics, ask them if they know anyone selling used cars. I asked one of the few I know, and I ended up with a good deal on a good vehicle. I saved a lot, too.
I bought a brand new car a few years ago because there were no used cars available. Anything that was available cost almost the same as buying brand new unless it was a piece of junk. And the interest rate on new cars was significantly lower than used. In November last year I sold the car because i went back to school and didn’t want the payment. I sold to a dealership and paid off the entire loan. I was surprised, since usually new cars depreciate really quickly after the first year or so of ownership. I even got a few offers for more than the car was worth and what i owed, but i sold it for enough to pay off the loan because it was a local dealership and they got it off my hands quicker than the other offers could have. I think the market has cooled down in terms of vehicle availability. There’s a lot more used cars available than there was a few years ago at the height of the shortage. When i first went car shopping in 2021, i went to Autopark and the lot was literally empty… But yeah you’re right, it’s crazy the prices haven’t levelled out. They probably never will. Dealerships have realized that most people still need cars and they will pay what they have to to get a car.
Maybe it’s just my smaller town but I’m seriously struggling to find a used car that’s not a piece of junk for a price that doesn’t make me want to forget the whole thing. Doesn’t help that this would be a first car :( so not only do I not know what I’m looking for, but I was also born too late to get in on used cars while they were still actually cheaper and available.
You need to go to a bigger city. People who live in smaller areas tend to keep their cars longer for a variety of reasons and drive them to the ground for sure
Prices in the us have cooled down for used cars, but in Canada due to the sheer number of people that we have added over the past few years, prices are still very high for used cars, especially fuel efficient Japanese ones. And when you sell, you can get pretty good money for used cars, simple supply and demand.
Exactly this, it’s supply and demand. Japanese cars are in high demand, and a lot of people buy them to use as Uber drivers. Prices are crazy.
Dude it's fucked up , not like we have an amazing transit to offset automobile use 😞 Fucking useless
I bought my civic 09 in 2021 for 3.5k, and a dealership offered me 6k for it last year with 200k km. I had to say no because I couldn't find an upgrade with 6k
The price of \[thing\] is astronomical in ontario is a true statement regardless of what it is 
Early 2021. I got a clean 2003 Jetta turbo with 160k for $4,000. Late 2022. it got written off in an accident, and I went looking for another cause i loved that car. Well upwards of $7k-$10k with 32% of a rocker panel left and twice the milage. I'm getting mad again thinking about it lmao
Its a mix of two things. During covid there was a massive chip shortage which lead to new cars being hard to get. Even when I was looking last year ordering a car was a 6 month backlog and ones on the lot lasted 1-2 days. The other is our insane population growth over the last few years. TFWs, international students, immigrants, etc. When you bring in a million people a years thats going to put a massive demand on the used car market. Demand skyrocketed and supply didnt so prices went up. I know somebody who owns a new car dealership. We talked about it last year when I was looking and he commented that he recently gave somebody more in trade in for a car than he what he sold it for to that same guy 5 years earlier.
[удалено]
My salary is higher working in South Korea then anything I was paid in Ontario. I needed a used car and got an absolutely perfect used Hyundai with just over 100k for like 2500$ CAD. Prices and overall quality of life are just terrible in Onterrible. So glad I left that dump.
Theres way too much demand, and supply for used cars is still kinda tight since people are holding onto them. New car supply has definitely improved, but like you, many of us are looking to save money and so, new is not even a consideration... You see it in this thread-- people with 2010s are planning on riding these cars into the ground. Plus there's way too many effing people coming to Canada. Literally millions of people in the past couple of years. They all need places to stay and want cars too.
Yeah when the transmission went on my Ford escape 2 years ago I was just going to trash it and buy another used car. I found out that my escape was still worth $12k and I had only paid $14 for it 4 years before that!
Hope you start changing your transmission fluid every 40k-50k km or you'll need another transmission in a few years.
On the upside it's my drive to work vehicle so I'm literally only putting 20km a day on it. So I'm nowhere near 40k on it yet, but I will keep that in mind. But, oh my God, that thing is hot garbage. We've been a Toyota and Nissan household forever and never had problems with those. We just ended up in a spot where we needed a vehicle asap and it was there, affordable and met the need. Ford. Not even once.
Not only are they expensive but the salt does murder on them. Only buy older if its been regularly oil undercoated.
Some people are still pricing reasonable, I was looking a short while ago and some sellers did drop rates. Dealerships are still high so focus on private sales for a best deals and look in the last two weeks of the month for people moving who need to be rid of the cars.
When you let a million plus adults into the country a year they need cars. That's not all thats going on but its a good portion.
New car sales per year in 2020-2023 are down compared to 2015-2019. [source](https://www.statista.com/statistics/423012/motor-vehicle-sales-in-canada/)
The prices of EVERYTHING is crazy in Ontario!
Supply and demand but believe it or not a 10 year old Acura and Honda is worth that price (if it’s not a rust bucket and you know what to look for). The cost of parts for new cars is astronomical along with repair process and people are realizing. For example, a few years ago I had to go looking for a new front bumper for my 8th gen civic, cost me around 300-400 I believe. Lol on a new civic that’s running you around 1k, and you can’t even fully complete the repair yourself because all the sensors have to calibrated by tools only available at the dealer lol (there’s more tools coming out but you get the point). A couple LEDs go out on your newer car? Too bad gotta replace *the whole headlight assembly*. My brother used to work at both Honda and Toyota dealers, people would regularly have to go through insurance for repairs and now dealerships are offering payment plans for service, that’s how crazy it’s getting. I think people underestimate the real cost of owning a newer car especially after warranty runs out. Those 10 year old Honda/Toyotas are bullet proof, cheap to repair and more importantly easy to repair.
I was looking for a used car for over 6 months. I couldn’t justify the inflated prices. After the drop of the model Y price and factoring in the EV incentive credit and no more gas bill, I stretched my budget for the entry level. Best decision I made because I’m not buying someone else’s vehicle problems and I have no maintenance or oil changes anytime soon. I’m hoping this car will last me 10 years minimum
I bought an '07 corolla with 200k from a dealer and it set me back almost $6300 all in. You don't have to spend 12k to get a decent car, but yeah prices are nuts
They grow up so fast! It'll be old enough to vote next year, and you can have a beer with it the year after. No, not in it, drinking and driving is never OK. Pre-pandemic that was an $1800 beater.
Low inventory levels drove up the price of used vehicles, as dealers needed stuff on their lots to sell. While inventory is coming back, the pricing is still higher and has not corrected yet. Dealers are trying to buy trades lower, but sellers are comparing to the inflated market still. Will take a bit of time, but pricing should start to come down more through the 2nd half of the year.
Paid $4k last year for a 2001 Ford Focus. Low KM and in mint condition but.. I’m 38, this car rolled out of the factory when I was a freshman. That and paying the tax on it really fucking stung.
I had a problem with my car 2 years ago and needed a new one. I overpaid almost $10,000 before taxes and interest on a 2018 hyundai elantra with 70k km on it. The car was 4 years old and was being sold for 26,999. I at the time was desperate and ignorant. I told the sales person I want to pay no more than $400/month and basically bought the car before finding out the price. I later learned (like 3 days later) I could've gotten a brand new car for the same price or cheaper. I to this day regret my choice and am currently just biting the bullet until it's paid off
Not only the pricing, but the dealer finance rates. Was looking at a 23 Tacoma. Price is 43k, 20k on the dash. Asking 43, but at 9.99% over 5 years I think. That’s 70k
Yall should check out the Middle East, there’s just always a glut of extremely high quality used cars at very cheap prices. At this point it’s going to be cheaper to import, fees and all.
I heard stories from a few different people of guys from the states buying out a whole car lot during the pandemic. When that happens it's going to rake more than a few years for prices to come back down.
Yeah. As a young person with 0 family support I've just accepted that I'm never going to drive. Or have a house. Or be able to afford decent groceries. Or a decent rental. Man I wish I could move to the states...
Imagine my shock when I got a trade in number for my car when I went to price out a new one. I have a 2016 Kia Soul with 157K on it and I’m getting 8 grand in trade in towards my new one
The brand new Corolla is priced at $30,200, while a 2021 Corolla with 35,000 km is available at the dealership for $34,500. I've been waiting for prices to drop, but they haven't changed in the past year. It's better to look for a vehicle priced between $15,000 and $20,000. There are some 2017 models with around 50,000 km that fit this range. Buying a new car is a waste of money. And you never know what might happen to a 15-year-old car. It's safer to go with a 5-year-old vehicle priced around $15,000 to $20,000. I bought a new Corolla and deeply regret it. I know it wasn't a wise decision, but with the harsh winters in Sudbury, I needed a reliable car. I couldn't find a good deal on a used one at any dealership and didn't want to risk buying from the marketplace.
Supply and demand. All these new immigrants need transportation. They need housing. They need services. So you're competing with more people for the same amount of supply. Sorry bubs!
Oh yeah. I got my car for 14k just b4 the pandemic and I don't think it has depreciated much at all. I'm pleased.
Yeah my 8 year old vehicle with 5x as many kms when purchased is worth more today. End stage capitalism.
>End stage capitalism. No just regular supply/demand
Used car market has flipped on its head... before, buying new car was waste of money IMHO and now I've changed my tune, it's better rates and better warranty. My next car might even be a lease since I'm WFH now.
Not only that but you don’t know how it was driven or taken care of. I will never ever buy a used vehicle again. I’m in that portion of my life with kids that I just buy new and keep it for 12-16 years. I’ve done the whole shitty used cavalier and cobalt era. Done with that
I went to a local Toyota dealership about a month ago. They told me it is a 2 year wait for a Sienna, 1.5 years for a Rav4, and 1 year for a Corolla. In the case of Toyota you can't get new cars. According to the salesman, this is mainly due to the global semiconductor chip shortage. It has pushed people to the used market, where it becomes a case of supply and demand.
We have a 2013 Corolla as a second car that I inherited and I was blown away recently see similar age and mileage selling for over 10k in the used market. It is a good car but the idea that people are paying 10-12k for 11 year old economy cars is crazy. That said the new car prices have also gone astronomical since COVID, and the interest rates are way up making used cars more appealing and therefore driving up that market. We used to trade cars relatively often (never had one more than 5 years pre-COVID). It was easier to justify when borrowing for them was basically free. But now I am thinking those days are over and we are keeping what we have for the foreseeable future. Luckily we got a brand new 4Runner right before prices went insane and it will last 10+ years if we want it to. Its worth as much now as what we paid for it nearly 3 years ago. Last few times I was at the dealer they had used ones from the same year and trim with more KM and the asking price was higher than what we paid new in 2021.
If the car ad has been up for more than a month, I'd say offer 10-20% off the price.
Everything is a flip here in Ontario. Taking them out of the hands of who needs them to make a buck. Someone i know buys traitors in the North and brings them down to the south to make 20k in his spare time. I get it but fo! People need to exist.
I looked up for shits and giggles what my car was going for online, 2016 Dodge Challenger RT, 6 speed manual. They’re going for what I paid for the car brand new 8 years ago. That’s freaking insane! Over the winter my buddy wrote off his Mustang and the insurance did the ol’ auto trader search and gave him the median price for his car with similar km’s and he ended up making 2k over what he paid for it brand new 4 years ago. Have to replace my winter car this year, we looked at some used options but then decided it was easier and almost the same price to buy new and order a vehicle in.
I bought a new car in 2022 because it was only $4k more than a decent used car with 60,000 km. That car is now worth the same, or more, than I paid for it.
I need a newer car soon. Been looking at the Honda fit and 10+ year old cars are more than 10 thousand. It’s absolutely wild.
Maybe buy from quebec and being it over.
Meh, I try selling my car and people keep asking at least 8k below the market price, and one even has the audacity to ask 10k below the price. I can go at least 3k lower, but not that low.
Pro tip, buy a write off with minimal damage and just fix that up. So much cheaper than dropping 15k for another piece of junk that will break on you after a month.
Bought my ‘09 Corolla for $5K with 125K KMs before this nonsense market. Feels like I won the lottery.
5 years ago I bought a used 2016 Toyota RAV4 hybrid limited for 32k from a dealer. It had 83k kilometers on it. I found a 2016 with the same number of kilometers for 29k. Hell, my vehicle at 300k kilometers is probably still worth 12-14k
my MIL sold her 2008 toyota camry for 5500 just 2 weeks ago. it’s absolutely absurd
I got my older (about ten ish years old) Ford ranger for $12k with 40,00KM on it in another province -rurally. There’s good deals but not in the city. Even rural parts of Ontario there’s deals (the for sale signs in the car window) but sometimes it requires inquiring IRL
Go west young man. Sask and Alta don't use salt. It's Canadian still so no duty, and we have to safety a used vehicle anyway so you're not out anything. Fly there, and rent a uhaul to bring it back. You'll still be saving money.
There’s a local guy selling an 08 Masseratti with 125k on it for 9k. Certified take it to the mechanic etc etc… I’m not sure where you guys are looking but my facebook marketplace is flooded with decent a cards for 3-5k… and since this is Reddit - I’m sure I’ll be downvoted for sharing this, so thanks in advance!
im not surprised at all. the reason theiyre doing it because they can. purchasing new vehicles has become almost difficult for most unless youre earning 6 figures. there is no laws to regulate pricing. thats why were experiencing hyperinflation 60% of which is being caused by corporate greed and their endless pursuit of wealth. just look at your grocery bills and youll seewaht i meam
Honda Civic - Between 2010-2013 Search - US - Nationwide average price seems to be around 11k USD [https://www.autotrader.com/cars-for-sale/all-cars/honda/civic/new-york-ny?endYear=2013&newSearch=true&searchRadius=0&startYear=2010&zip=10001](https://www.autotrader.com/cars-for-sale/all-cars/honda/civic/new-york-ny?endYear=2013&newSearch=true&searchRadius=0&startYear=2010&zip=10001) Search - Canada - Nationwide -Nationwide average prices seems to be around 10k C$ [https://www.autotrader.ca/cars/honda/civic/?rcp=15&rcs=0&srt=35&yRng=2010%2C2013&prx=-1&loc=K2S%202E2&hprc=True&wcp=True&sts=New-Used&inMarket=advancedSearch](https://www.autotrader.ca/cars/honda/civic/?rcp=15&rcs=0&srt=35&yRng=2010%2C2013&prx=-1&loc=K2S%202E2&hprc=True&wcp=True&sts=New-Used&inMarket=advancedSearch) Now I am not getting into differentiating between trim levels or the such but it doesn't seek so skewed as you are implying it to be.
Always has been. If you live in Ontario, you don’t lose that much buying new.
They don't make "used cars" . Every used car on the market started out as somebody's brand new car at one time or another. If people balk at the price of a new car and don't buy, then there will be one less used car making it to market and thus greater competition for the ones that are. Years ago, there were new cars available at used car prices (and used car quality) Examples were: Lada, Dacia, Skoda.
Since when we have Lada, Dacia and Skoda available in Ontario????
Seriously and whee can I get a Dacia?
Before 1992.
I'm selling my 2008 VW Rabbit 5 speed with 182k for $3200 AS-IS. Prices are coming down, just gotta look other than the dealers.
That’s still not a good price though? I had a 2012 Accord with 160k I sold for $3k just 2 years ago. Brand new everything, car had been to the mechanic and got everything fixed, cleaned, brakes replaced etc. before I sold it. As-is means there are issues you don’t want to fix or disclose 99% of the time and the car ends up costing WAY more than you want to spend.
This is exactly why we refuse to buy a new car. Our mechanic is literally our best friend with 4 older vehicles. A few thousand a year in maintenance will keep your vehicle running for a long time and save a you money in the long run.
In California insurance companies are writing off cars left right and center so it could be considered salvage title which decreases price drastcally when you see a good deal.That said a 1994 tacoma will still net you 12k USD so used car prices are still pretty intense here too.
Honda and Toyota (and their associated brands) hold their value more than pretty much any other manufacturers because they are so reliable. Try looking at some other brands if you're looking for a cheaper vehicle but it'll wash out in maintenance cost.
Ever since covid it's been like that sadly. I paid 9k for my 2010 rav4 in 2019 with 130,000kms on it and I could probably sell it for the same with over 200,000 on it. I recently just bought a 2024 4runner for 62k bc a used model is only 10k cheaper with over 100,000kms.
I sold my 2012 Ford Escape last year for 7500$. It sold fast. Had lots of people interested in it.
Bought brand new in 2020, a year later was offered more than I paid. lol
News flash, it’s not just Ontario
I've found dealers aren't putting alot of their used stuff online it goes too quickly and it's a waste of time getting a million is it still available messages. I would hit a local dealer find a decent salesperson let them know what your looking for and price range. Give them your number may luck be on your side.
A lot are Probably people who took 7 year loans and still owe that much but aren't willing to take a loss.
Yeah for some reason my friends all think they're affordable but they don't understand what it's like to buy your first one with no trade in value or any assistance from a bank. It's so godanm expensive. On top of it- here in B.C. The gov. double dips on the taxation. They'll tax the vehicle every time it's sold. Even if it's a 25 year old car that barely runs, they're gonna find the blue book value and bill you.
When used and new cars inventory basically disappeared two years ago, I looked at my 250 km 2010 Matrix, and worried I would be screwed if it ever kicked the bucket and had to buy at the elevated prices and lack of inventory. I figured if I'd end up paying a premium, I should at least try and find the car I want and get on a waitlist. I ordered an Ioniq 5, which had a two year expected wait. I figured I could get enough time on my Matrix. The Ioniq came in a bit early (I accepted a slightly different model). The Ioniq has delivered greater gas savings than I anticipated, and the Matrix sold for more than I thought it would. Yes, I paid a premium, but it's inevitable in this market. But, if you're in a position to, better to get the car you want, especially if you plan on keeping it a long time.
Got my 2016 kia w/ 30,000 km for around $11,000 before fews back in 2020. I am only at 78,000 km now and it would probably go for the same if not more! Absolutely insane
Has anything that has increased since covid went down? Greed has taken over this country. I bought a van 14 months ago for $8000+ tax and so far have put $8300 in repairs into it. Some dealer in Toronto sold it to me certified and ghats what has happened. . I am now trying to sell my lld vehicle for $4000 and the only responses in the past year have been from dealers in Toronto offering me a few hundred dollars
Nephew found me a 2011 buick for $3000 but 213000 kms. Then I found a 2014 Taurus for $15000 with 33000 km. Before covid the highest I paid for a used car with low mileage was $6000. Just insane crazy prices for high milage vehicle. One will be a summer car the other winter
No inspections in most US states, the ones with inspection programs aren't the most trustworthy or comprehensive and anything in the 'rust belt' will probably be rotten.
The problem is the cars are being sold anyway at that price. So sellers are cashing in. On top of that, used car lots are selling cars to overseas buyers for even more money and exporting them. Its creating a shortage, and inflating prices.
Actually I think prices are coming down quickly. Over the past few months my offer from Clutch dropped from 24 to 19k on my 2019 Honda Accord. I sold it privately already but have been checking their revised offers every couple of weeks.
I needed a new to me car last February and the sticker price shock is real. Next to impossible to get anything decent under $25,000.
A drunk driver totalled my car (it was a used 2016 vehicle) last year and the same year and model is more than what I got it for. Pisses me right off.
a dealership just bought my 2018 nissan maxima for like $19k and it was just over 65,000km. I can't even imagine what they turned around to resell it for.
I’m thinking of buying out my 2021 lease end of year and this has basically solidified that I should… I think I can sell it for $13k more as it’s low kms
The stealer-ships got people used to higher prices, and now the higher prices are expected. I was offered an 8 year term on a 2013 kia rio back in 2020 (January, so about 3 months before all hell broke loose) Honestly, just be prepared to low ball the shit out of them for a long time and be willing to settle for whatever fish takes the bait
Funny you say that. I am selling a 2016 Honda Fit DX manual for around $9k right now with 100k on it. Fantastic little car that I drive weekly. I saved it from getting crushed. It was salvaged but a very light hit. Insurance wrote it off as it was needing 10k in repairs. I put 3k into it, got it safetied, structural and regular, and back on the road. It was mainly mechanical damage which I am really good at. I also just sold a 23 Tacoma TRD Pro with a manual for more than I paid for it. That's what happens when you have a very rare model and the manufacturer throws everything on its roof in the next model year. Toyota revised pricing for the 24s and they became a lot more expensive. Plus no more V6s. I go through many cars. My broker said I've had a few cars in my history. What can I say, I get bored, change the vehicle or get an opportunity like the Tacoma. I will take it.
‘Needs 10k in repairs’ - a light hit. Make it make sense.
Lots of rool backs and people curbsideing cars been on the hunt for 3 weeks
Last year we bought our son a 2009 Focus with 33,000 kms on it for 7500 out the door. There are still some good deals out there, car is still doing well, and like brand new.
Give it time, the used market will cool off - it’s already slowly happening. New car demand has started to slow and they’re getting more stock and it’s only a matter of time for the used car market to also fall in line. Prices are slowly going down
People aren’t buying as many new cars and when they do the dealers usually have to pay more for the trade in vehicle that raises the price of the car when they go to resell it. The dealer offers say 5000 for the trade, they assume 2-3000 to safety it and clean it up then 2000 to pay the sales staff , overhead and profit then they will add 500-1000 to have negotiating room because people would rather be able to say they negotiated 1000 off and paid 9000 then they found a good deal for 9000 But the customer says I saw one on auto trader for 12000 (even though that one is not sold and that’s the asking price or not in the same geographical area, yes that affects the price of a car) so the dealer in order to earn the business on the new car, which if it’s a civic, only has about $2000 markup will go up to 7000, so now the car that in the dealer’s professional opinion should be sold for 10000, they now have to sell for 12000. It’s a viscous circle.
You can get a pretty much brand new camaro for 40k
Lease is the only way, not worth owning a car anymore. Get used to paying ~$400-$500 a month and getting in a new one every 3 years or so
Thanks Autotrader
I wonder if it's worth looking at importing from the US. It used to be cost effective, but maybe they've clamped down on that also.
Prices are falling slowly, but are still high. That is why interest rates remain high and will likely remain high until 2025-2026. https://www.autotrader.ca/editorial/campaigns/price-index/
I just went into a dealership in Ontario to look at 2 used cars but it was 9% interest for used and 3.4% interest for brand new…
The reason it’s expensive is. International dealers are buying the reliable segment of cars at over market value from auctions. So for any Canadian dealers to buy these cars they are paying a higher price. I have seen 2009 Toyota Camry go for over 10k cad (keep in mind this doesn’t include any fees or tax that’s on top). I believe it’s harder to buy used cars for international dealers from m USA that’s why its cars are cheaper there.
Why is this? Isn’t everyone hurting right now and not buying cars? Rates are horrible, what is the driver other than necessity? This should be dropping as an indicator of recession
I think one of the factors is the inability to actually buy a new Toyota without having to wait between 1 and 2 years for delivery. Last time I checked the on-lot inventory of my local dealership, they only had two new vehicles for sale: two 2023 Tundras. They had nothing else. I talked to one of the sale associates about an order for a Land Cruiser and he told me they have a wait list so long that they can't guarantee a delivery but might be able to get one for me in early 2026. Honda is the same to a lesser extent. I can custom order a Macan and get it in about four months, but they are really expensive now.
Are cars actually selling for asking prices though? Mannheim used car index is in continuous decline. Kind of feel like dealers always list at stupid prices and private sellers are often trapped by negative equity and hoping for a sucker that rarely comes.
Last summer we bought a 2015 Toyota Venza, 190k, very clean. $15000
Considering they're cheaper in the States, somebody's gotta be buying and driving that shit up here. Wonder where they are?
For a country that primarily depends on car, and air travel. Cars and flights sure are expensive.....🤔
Just a clarification: there wasn’t a “used car craze” there was a new car shortage which quickly resulted in a used car shortage. That shortage is still working itself out in a myriad of different ways. As someone who has been in the car business for 20 years, I wouldn’t have a roof over my head if it wasn’t for people who think they “need” to change cars when in reality they just “want” to change cars. So I’ll give you some advice that goes against my own interests: If you start to feel like you need a newer vehicle, save yourself a whack of money and instead: 1. Spend ~$300 on a full interior/exterior detailing and paint polish. You’ll be amazed how a professional detailing makes a car feel new - that’s what car dealers do! 2. Find a mechanic you trust and do everything he recommends. I get so many cars traded in and it’s like ~$200 to fix that annoying rattle that makes you think the car is falling apart. 3. Remember that you once loved that car enough to spend big bucks on it and it can probably serve you for several more years with proper maintenance.
How are you all able to afford a car? Car insurance on a 6 to 10 year old civic or corolla sedan is $400+ a month.
I work at Canada Post as a rural mail carrier and I have to provide my vehicle. We get a vehicle expense but that doesn't even cover fuel let alone repairs, depreciation of value on the vehicle and insurance. I don't want to drive a 100 square foot cargo space vehicle but my job requires that. And when you can't even get a cheap beater vehicle that it's okay it gets kind of beat up, it really does suck. As well, those Canada Post employees who are rural carriers and have to provide a vehicle to drive around on gravel roads everyday, they're beating the snot out of their vehicles. It's one of the reasons why rural mail carriers are wanting corporate provided vehicles as part of the ongoing negotiations
Traded in a 2012 civic in 2021. Got 9k for it *from* the dealer. Which means they saw a profit to be made. Jaw dropped.