Get a free, no obligation personal loan quote with rates as low as 6.99%
Get Started You can apply with no effect to your credit score

For the average adult Canadian a car is not only their main form of transportation, it’s a necessity. Purchasing a “new to you” car is a huge investment, therefore, it’s important that you weigh all your options before you make your final decision. One of the most important, and potentially most difficult choices to make during the car buying process is choosing between a brand new vehicle and a used vehicle. To help you with your decision, we’ve created an infographic that compares the pros and cons of a new car vs. a used car, take a look.

Infographic: New vs. Used Cars
Looking for more information on car ownership or your auto financing options?
  • How to Avoid Car Loan Debt, here.
  • Is Paying Cash for a Car a Good Idea? Read this to find out.
  • Can You Buy a Car With a Credit Card? Click here.
Caitlin Wood avatar on Loans Canada
Caitlin Wood

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

More From This Author

Special Offers

More From Our Experts

https://loanscanada.ca/wp-content/uploads/2023/09/Finder-Awards.png
Finder Awards Finalists: Personal Loans Customer Satisfaction Awards 2023

By Priyanka Correia
Published on September 25, 2023

Loans Canada is happy to announce it received the finalist award in the Best Personal Loan Search Platform category.

https://loanscanada.ca/wp-content/uploads/2015/02/Tap-into-my-equity.png
When Can I Tap Into My Home Equity?

By Lisa Rennie

Do you have equity built in your home? Wondering when you should leverage your home equity for cash? Find out when to tap into your equity?

https://loanscanada.ca/wp-content/uploads/2013/03/CreditScores.png
What Your Credit Score Range Really Means

By Caitlin Wood

Wondering your credit score range really means? It means a lot to your wallet, your home, and your even your job. We have cracked the code.

https://loanscanada.ca/wp-content/uploads/2023/08/G-license-test.png
What Is A G License Test?

By Lisa Rennie

Are you trying to getting your license in Ontario? Then you should find out what's on the G license test.

https://loanscanada.ca/wp-content/uploads/2021/12/Canada-Fed-Deposit.png
Canada Fed Deposit: Payment Dates And Eligibility 2023

By Corrina Murdoch

The Canada Fed Deposit or EFT Credit Canada appears on a bank statement. It happens when the federal government pays the CCB, CWB and

https://loanscanada.ca/wp-content/uploads/2023/09/CBSA-SALARY.png
The Best Paying Jobs With The Government: No Degree Required

By Lisa Rennie

Are you looking for a high paying job but don't have a degree? Check out the CBSA salary and other government jobs.

https://loanscanada.ca/wp-content/uploads/2020/12/new-credit-card.png
Neo Credit | Neo Financial Credit Card Review

By Corrina Murdoch

The Neo Financial Credit Card makes both spending and saving rewarding for Canadian consumers, regardless of their financial health.

https://loanscanada.ca/wp-content/uploads/2018/06/Alternative-Mortgage-Financing.png
Alternative Mortgage Financing In 2023

By Bryan Daly

Alternative lenders can provide all Canadians with the opportunity to become homeowners, keep reading to learn how they can help you too.

Recognized As One Of Canada's Top Growing Companies

Loans Canada, the country's original loan comparison platform, is proud to be recognized as one of Canada's fastest growing companies by The Globe and Mail!

Read More

Why choose Loans Canada?

Apply Once &
Get Multiple Offers
Save Time
And Money
Get Your Free
Credit Score
Free
Service
Expert Tips
And Advice
Exclusive
Offers

Build Credit For Just $10/Month

With KOHO's prepaid card you can build a better credit score for just $10/month.

Koho Prepaid Credit Card