Buying a car Cars can cost a lot of money, whether they are used or new. Make sure you can afford the upkeep, the gas, the monthly payments and the costs of registering and insuring it. Some Canadians opt to lease cars. Leasing can be handy, but there are a number of hidden costs involved, such as administrative fees or handling taxes. Whichever option you choose, make sure you understand exactly what your financial obligations are.
Car insurance is another major expense.
All cars must be registered with the provincial motor vehicle licensing agency where you live, and must be insured. This is the law. Car insurance can be expensive, but it protects you and other drivers in case of an accident. Some provinces also sell insurance through provincial corporations. Shop around for the best rates.