# Cars



## snjm (Apr 22, 2010)

I am planning to have a car, kindly advice how much a new car would cost, or a used one would cost in average . I don't need a very top class car and I don't want a very poor car... and also how the purchase/sale is executed ? is it cash or is it a bank loan if I have a full time job based on my income ? when my wife and family joins me I should have also another car. so please advice. 

Thanks


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## louiseg (Nov 17, 2007)

Varies enormously based on make, model and size you are after. check autotrader.ca. The other thing to check in the insurance costs as in some provinces this is way more than the car is worth.
You can lease vehicles which is quite common in Canada, pay outright of get a loan for vehicles. Bank loans may be difficult if you have no credit history in Canada. But if you can get a loan it will help to build your credit history.
Louise


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## snjm (Apr 22, 2010)

louiseg said:


> Varies enormously based on make, model and size you are after. check autotrader.ca. The other thing to check in the insurance costs as in some provinces this is way more than the car is worth.
> You can lease vehicles which is quite common in Canada, pay outright of get a loan for vehicles. Bank loans may be difficult if you have no credit history in Canada. But if you can get a loan it will help to build your credit history.
> Louise


Thanks Louise for your reply, I would like some information about the lease system, I will have a full time job, and my work will be in Markham. I would like to rent a car like Honda or Hyndai Elentra , a car that is suitable for family of husband, wife and 2 small daughters 6 years and 3 years. Is the budget in 300 range per month , should I pay any deposit and what is the lease time ? 
I leased a car from Hertz when I was there and it costs me around 70 CAD /day .I believe a lease system in Canada is common as u said and heard about it but would appreciate more info here or some websites that can explain and I can search for deals on it,.
Thanks Louise.


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## JGK (Dec 12, 2009)

snjm said:


> Thanks Louise for your reply, I would like some information about the lease system, I will have a full time job, and my work will be in Markham. I would like to rent a car like Honda or Hyndai Elentra , a car that is suitable for family of husband, wife and 2 small daughters 6 years and 3 years. Is the budget in 300 range per month , should I pay any deposit and what is the lease time ?
> I leased a car from Hertz when I was there and it costs me around 70 CAD /day .I believe a lease system in Canada is common as u said and heard about it but would appreciate more info here or some websites that can explain and I can search for deals on it,.
> Thanks Louise.


Leasing a car of the type you mention would cost $300 - 400/month, insurance probably $3000/year in Markham. When I first moved to Canada the Hyundai and Nissan dealers would not qualify me for a lease due to the lack of credit history, the only company that would were GM Chevrolet who had their own finance company. Even then my employers had to co-sign on the lease agreement.


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