Thinking of buying a used Toyota in Toronto? Here are some tips that should consider before you should even go out looking for cars!
The Budget!
First thing’s first. Decide on a budget that doesn’t make you bankrupt, but can get you a nice, used Toyota in Toronto. While setting a budget, make sure that you set some money aside for repairs and any extras you might want to add to the car such as new seat covers, getting new tires or rims. Once you’ve done that, stick to your budget no matter what! Don’t go above it, otherwise, you might not have enough money left for initial repairs and refits.
If you’re opting for monthly payments or loans, you need to figure out what kind of monthly payment you can afford. Set a maximum amount for this as well because you might end up short on cash if you choose something that’s too expensive for your budget. Another thing you must consider is how much money you’re paying for the car through monthly installments. You might end up paying as high as $20,000 for a $12,000 car. If the final cost to you is too high, try going for something cheaper that you can pay for in one go. Paying the full price in one go is always cheaper. If you must pay monthly, don’t get into a long-term contract. Stick to cars you can pay off in two years or less.
Note that some dealers tend to advertise low monthly payments, but ask for a large down payment or add in administrative or other ‘hidden’ costs when you’ve finally decided to buy their car.
Choosing The Right Car In Your Budget
If you’re thinking of buying an SUV or a pickup truck, expect to pay up to $20,000 for a 3 year old model. If you have a budget of around $15,000, your best bet would be a small or midsize sedan, like a 2012 Toyota Camry, or a 2014 Toyota Corolla. You can also find an older model Toyota RAV4 or pickup in that budget. If your budget is around $10,000, look for older models like a 2009 Toyota Camry or a 2006 RAV4. You can buy a newer Corolla in this amount though, such as a 2011 model. In other words: the lower your budget, the older or smaller the car.
Insurance Costs
Insurance costs vary by car; this is something you should consider as well when looking for a car. The year and model of the car affect the insurance you’d be paying for significantly so make sure you get insurance quotes for the car you like, before you buy it. Otherwise, you might end up ruining your monthly, household budget.
That said, used Toyotas in Toronto usually aren’t that expensive to insure so you should do fine. As for car dealers, one reliable car dealer you should check out is Coliseum Auto Sales. They have a very good lineup of Toyota models and you should be able to find one that fits your budget perfectly