Cheap Cars For Sale in Toronto, ON (2024)

FAQs

What is the best site to find cheap cars? ›

Although it isn't produced anymore, according to Motorbiscuit.com, the cheapest car in the world is the Tata Nano. It's a compact car that was simple to the furthest extent to lower the cost. The very first version of the car only cost $1,400.

What is considered high mileage on a car? Often, 100,000 miles is considered a cut-off point for used cars because older vehicles often start requiring more expensive and frequent maintenance when mileage exceeds 100,000.

The Toyota Corolla is the most affordable vehicle on our list, starting at just $22,645, and it's safe enough to earn a 2023 IIHS Top Safety Pick Award. An Acceptable updated side test rating keeps it from Top Safety Pick+ designation, but the standard headlights are Good and front crash prevention is top-rated.

According to J.D. Power's 2023 Vehicle Dependability Study, Lexus topped the list of rankings and the RX model was named the most dependable vehicle on the market (tied with Toyota's C-HR). For 2024, the luxury brand led its segment and the overall industry for the second year in a row.

Vehicles depreciate due to many factors. Some cars hold their value better, such as pickup trucks, SUVs, and sports cars. Electric vehicles and luxury sedans are reported to lose their value faster.

What is the most affordable car to own? ›

Toyota and Honda have typically been among the cheapest brands to maintain, but many models by Nissan, Mazda, and Mitsubishi have low repair costs as well. Among premium brands, Lexus and Tesla are at the top of the list, with good reliability scores and a lower cost of ownership than average.

What's the Cheapest Car in the World? The cheapest car in the world is the Tata Nano. Tata Motors designed the Nano with the goal of allowing families in India to own vehicles at an affordable price. The first Nano was only 100,000 rupees or slightly over $1,400.

After comparing multiple car buying websites, our team found CarMax pays top dollar for used vehicles.

It helps to have a trusted pricing source on your side. The Kelley Blue Book ^® Price Advisor shows you what you should pay for a new or used car based on what others have paid in your area.

So, all in, you're looking at a total budget that is ideally, no more than 20% of your monthly take-home pay. While the 10%-15% rule may not work for everyone, it's a good starting point for finding a target price that won't leave you scrambling to pay your bills every month.

Both Edmunds and Kelley Blue Book are reputable sites that offer pricing information. The accuracy of an appraisal has a lot to do with the information the owner provides.