According to AutoTrader's March 2024 Price Index, the average car price in Canada is $66,422 for a new vehicle and $37,662 for a used vehicle. But if you're wondering how much to spend on a car, the answer depends on your personal financial situation.
Consider how much you can comfortably afford to pay each month towards a car loan, and check a vehicle's fuel economy, maintenance and insurance costs before deciding if it's right for you.