Why are used cars so expensive in canada?
#46
Forum Regular
Joined: Feb 2009
Posts: 268
Re: Why are used cars so expensive in canada?
I'm glad to know about car prices in Canada as I plan to get a car as soon as we arrive in BC. I just want a used car that is in good working condition. For me a car is something that will get you from A to B. Our car in UK is nearly nealy 6 years old and was bought brand new.
If we were to stay in UK we were planning to keep it for 2 more years as it didn't give us any problem since we got them. The only reason that we would consider changing it is that my children are growing fast so perhaps a bigger car which is what I plan to get when we get to BC.
If we were to stay in UK we were planning to keep it for 2 more years as it didn't give us any problem since we got them. The only reason that we would consider changing it is that my children are growing fast so perhaps a bigger car which is what I plan to get when we get to BC.
#47
BE Enthusiast
Thread Starter
Joined: Jan 2009
Posts: 720
Re: Why are used cars so expensive in canada?
Going back to the original question, I think it's because cars in the UK are bought as status symbols. The age of the vehicle is apparent from the reg plate, so many people don't want to drive around in an 'old' car.
I'm used to doing my motoring cheaply here, because I run old cars. Big old cars are worth next to nothing, and Jap cars depreciate quickly despite their excellent reliability. Just check the UK price of something like a 10-year-old Honda Legend (Acura in Canada) - £1700 for a car which was £32000 when new.
While I expect to save on the cost of accommodation in Canada, I think I'll be running a newer and more expensive car just because the market's different and you can't make the same savings by running a big, old car.
I'm used to doing my motoring cheaply here, because I run old cars. Big old cars are worth next to nothing, and Jap cars depreciate quickly despite their excellent reliability. Just check the UK price of something like a 10-year-old Honda Legend (Acura in Canada) - £1700 for a car which was £32000 when new.
While I expect to save on the cost of accommodation in Canada, I think I'll be running a newer and more expensive car just because the market's different and you can't make the same savings by running a big, old car.
#48
Re: Why are used cars so expensive in canada?
That said, leasing works very well for some people. If they KNOW how much they will drive, great. No little kids to spill orange pop all over the carpet and seats or scratch the paint? No dog to make it stink and fill it with dog hair that is a pain to get out? You can build in excess k's if you drive a lot. Payment is higher, but you are protected. Drive 60k a year? I'd say buy the k's and lease. No one wants to own a 3 year old car with 180k on it and two years of payments left. It isn't worth even half the balance owing, and if it is having issues, you are stuck with it or have to bite the loss and get rid of it.
#49
Re: Why are used cars so expensive in canada?
Going back to the original question, I think it's because cars in the UK are bought as status symbols. The age of the vehicle is apparent from the reg plate, so many people don't want to drive around in an 'old' car.
I'm used to doing my motoring cheaply here, because I run old cars. Big old cars are worth next to nothing, and Jap cars depreciate quickly despite their excellent reliability. Just check the UK price of something like a 10-year-old Honda Legend (Acura in Canada) - £1700 for a car which was £32000 when new.
While I expect to save on the cost of accommodation in Canada, I think I'll be running a newer and more expensive car just because the market's different and you can't make the same savings by running a big, old car.
I'm used to doing my motoring cheaply here, because I run old cars. Big old cars are worth next to nothing, and Jap cars depreciate quickly despite their excellent reliability. Just check the UK price of something like a 10-year-old Honda Legend (Acura in Canada) - £1700 for a car which was £32000 when new.
While I expect to save on the cost of accommodation in Canada, I think I'll be running a newer and more expensive car just because the market's different and you can't make the same savings by running a big, old car.
#50
Forum Regular
Joined: Apr 2007
Posts: 75
Re: Why are used cars so expensive in canada?
My point is that cars like the Honda Legend depriciate in a way that makes them exceptional value. If you pay £1700 for a 10 year old car, that's only about 5% of the new cost, yet it's probably only two-thirds of the way through its useful life.
From what I've seen of prices in Canada, a big 10 year old car holds more of its value. Looking on Autotrader.ca today, a similar 3.5L Accura for sale in Ontario seems to command a price of at least $10,000, which is more than three times what you'd pay in the UK.
From what I've seen of prices in Canada, a big 10 year old car holds more of its value. Looking on Autotrader.ca today, a similar 3.5L Accura for sale in Ontario seems to command a price of at least $10,000, which is more than three times what you'd pay in the UK.
#51
BE Enthusiast
Thread Starter
Joined: Jan 2009
Posts: 720
Re: Why are used cars so expensive in canada?
My point is that cars like the Honda Legend depriciate in a way that makes them exceptional value. If you pay £1700 for a 10 year old car, that's only about 5% of the new cost, yet it's probably only two-thirds of the way through its useful life.
From what I've seen of prices in Canada, a big 10 year old car holds more of its value. Looking on Autotrader.ca today, a similar 3.5L Accura for sale in Ontario seems to command a price of at least $10,000, which is more than three times what you'd pay in the UK.
From what I've seen of prices in Canada, a big 10 year old car holds more of its value. Looking on Autotrader.ca today, a similar 3.5L Accura for sale in Ontario seems to command a price of at least $10,000, which is more than three times what you'd pay in the UK.
Last edited by snowshoveller; Feb 26th 2009 at 12:46 pm. Reason: typo