Debating Used vs New
I am someone who does not like big payments so initially thought of getting a used one around CAD 20k (basically something i can payoff in 4 years max) but the used car market is still insane in Ontario, Canada and after browsing through some websites and meeting a few dealers, I am mostly convinced that new one would provide me a better value and peace of mind.
On a tight budget, still on probation at this new job, can put down $5k. Quotes for new sedans I got are - Elantra Preferred (30.5k, rate 5.3%), Civic LX (36k, rate 6.7%), Mazda3 GS (34.7k at 4.5%). Traveling 10 km one-way for the job within the city, occasional trips outside the town.
Given my lifestyle and budget, i think Elantra would the best option as i would be paying 6k-8k more for the other 2. I plan to keep this new car for at least 5 years. Any advise?
Posted Aug 4, 2025, 4:32 PM UTC