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1. • • Used cars are cheaper to insure than new cars, and it’s usually because the former cost less to replace and repair. If you’re not willing to spend too much on insurance, used is the way to go. Bear in mind that insurers also take a vehicle’s make and model into consideration when calculating premiums.
     www.mychoice.ca/blog/should-i-buy-a-new-or-used-car/

     Should I Buy a New or Used Car | MyChoice

2. People also ask

   Is a used car cheaper than a new car?

   • For comparable models, a used vehicle will, of course, be cheaper than a new one, but that’s not necessarily the whole story. You may be tempted to bypass mainstream models to get a premium vehicle that you can’t afford new, but be sure your budget can handle its higher repair and insurance costs.

   Pros and Cons of Buying New vs Used Cars | AutoTrader.ca

   www.autotrader.ca/editorial/20210512/pros-and-cons-of-buying-new-vs-used-cars/

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   Should you buy a used car in Ontario?

   • Your best bet is to plan on buying a used car in Ontario and letting the original owner eat the depreciation. Buying a used car in Ontario can skirt the bulk of the depreciation issues, but it’s not without its own difficulties and concerns. Below we outline how to buy a car in Ontario, what to look out for, and other tips.

   The Ultimate Guide To Buying a Used Car in Ontario in 2024

   blog.clutch.ca/posts/guide-to-buying-a-used-car-in-ontario

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   Is it cheaper to insure a used car or a new car?

   • Generally speaking, it costs less to insure a used car than a new car, but this isn’t a hard and fast rule. Many variables can affect insurance costs, such as the type of vehicle and the level of risk attached to it. For example, insuring a sports car will be much more expensive than insuring a commuter sedan.

   Should you buy a new or used car? - MoneySense

   www.moneysense.ca/spend/shopping/auto/should-you-buy-a-new-or-used-car/

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   Why do older cars cost less to insure?

   • Older vehicles commonly cost less to insure compared to new vehicles. There are many reasons for this, but it’s mainly because they simply aren’t worth as much. An insurance provider is agreeing to pay up to the vehicle’s actual cash value if it’s damaged; it makes sense that they’d charge less to insure a $2,000 ’95 model than a $60,000 ’23 model.

   Buying Used vs. New Cars | Pros + Cons | Square One

   www.squareone.ca/resource-centres/vehicle-owner/used-vs-new-cars

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   Should you buy a new car?

   • However, a new car suffers from immediate depreciation, so a new-to-you car is a smart idea because it can save you about 20% off the brand new price. Visit Ratehub.ca’s car buying guide: How to buy a car

   Should I buy a used or new car? - Ratehub.ca

   www.ratehub.ca/blog/buy-new-or-used-car-insurance/

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   Should I buy a new or used car in Canada?

   • Higher Interest Rates: Financing rates for used cars can be higher compared to new car loans. Whether to buy a new or used car in Canada depends on your individual circumstances, preferences, and priorities. New cars offer the latest technology, lower maintenance, and warranty coverage but come with a higher price tag and faster depreciation.

   Is It Better to Buy a New or Used Car in Ontario? 2024 Guide

   www.carnationcanada.com/resources/buy-new-or-used-car/

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3. www.carnationcanada.com › buy-new-or-used-carIs It Better to Buy a New or Used Car in Ontario? 2024 Guide

   www.carnationcanada.com › buy-new-or-used-car

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   Lower Purchase Price: Used cars are generally more affordable than new cars. Slower Depreciation: Used cars have already experienced the steepest part of their depreciation curve. Lower Insurance Costs: Insurance premiums are typically lower for used cars.

4. www.ratehub.ca › blog › buy-new-or-used-car-insuranceShould I buy a used or new car? - Ratehub.ca

   www.ratehub.ca › blog › buy-new-or-used-car-insurance

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   Nov 22, 2023 · If you’re trying to find an affordable car, understand your budget and work within it – let’s look at how insurance costs vary between a used and a new car and how you can use it to evaluate your car purchase.

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6. www.squareone.ca › vehicle-owner › used-vs-new-carsBuying Used vs. New Cars | Pros + Cons | Square One

   www.squareone.ca › vehicle-owner › used-vs-new-cars

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   Nov 13, 2023 · Buy it, finance it, or lease it? But chief among these decisions: Should I buy a new or used car? In this guide, we’ll cover the pros and cons of used and new vehicles, plus the car insurance implications of each. Buying a used car. The sale price of used vehicles has increased dramatically since 2020.

7. www.autotrader.ca › editorial › 20210512Pros and Cons of Buying New vs Used Cars | AutoTrader.ca

   www.autotrader.ca › editorial › 20210512

   • Cached

   May 12, 2021 · For comparable models, a used vehicle will, of course, be cheaper than a new one, but that’s not necessarily the whole story. You may be tempted to bypass mainstream models to get a premium vehicle that you can’t afford new, but be sure your budget can handle its higher repair and insurance costs.

   • Author: Jil Mcintosh

8. blog.clutch.ca › posts › guide-to-buying-a-used-carThe Ultimate Guide To Buying a Used Car in Ontario in 2024

   blog.clutch.ca › posts › guide-to-buying-a-used-car

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   Buying a used car in Ontario doesn’t have to be a stressful, budget-breaking experience. Use these tips to get the best value on a used vehicle. So, you need to upgrade your car but fear the monstrous 25% first-year depreciation a new car endures, leaving you upside down on your car loan.

9. www.coburnins.ca › news › is-it-cheaper-to-insure-aIs It Cheaper to Insure a New Car or a Used Car? - Coburn ...

   www.coburnins.ca › news › is-it-cheaper-to-insure-a

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   Spoiler alert: A used car is usually a bit cheaper to insure — but not always, and the difference in cost might be less than you think. First, it’s important to understand the factors that affect auto insurance rates. There can be thousands of these, so we won’t cover them all.

10. www.moneysense.ca › spend › shoppingShould you buy a new or used car? - MoneySense

    www.moneysense.ca › spend › shopping

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    Dec 7, 2022 · New and used cars both have advantages and drawbacks. From prices and insurance to warranties and safety, here’s what to consider when buying any car.