A two or three year old car with lots of manufacturer’s warranty left on it is a far far wiser purchase.
Before purchasing, read all the information from car buyers that regret buying their shiny new car because they can’t afford it. People tend to remain living pay cheque to pay cheque when they finance vehicles, especially when you add in all their additonal costs.
Always paying cash for your vehicles, it can free up a lot of money to put towards your savings. You can find good used vehicle deals in Toronto, just have to move quick when they come up.
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