{"id":820354,"date":"2019-12-04T02:26:18","date_gmt":"2019-12-04T07:26:18","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=820354"},"modified":"2025-05-22T15:17:36","modified_gmt":"2025-05-22T19:17:36","slug":"cost-of-car-ownership","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/car-loans\/buying-a-car\/cost-of-car-ownership","title":{"rendered":"How much does it cost to own a car in Canada?"},"content":{"rendered":"

The cost of a car in Canada extends far beyond the sticker price. You\u2019ll also need to budget for maintenance costs, insurance and registration, gas, car loan payments and finally the cost of depreciation\u2014which is not to be sneezed at.<\/p>

But how much does a car cost per month in Canada? Keep reading to find out.<\/p>

How much is a car? Average car price in Canada<\/h3>

The average cost of a new car in Canada is $66,422, according to the March 2024 AutoTrader Price Index. The average cost of a used car is $37,662.<\/p>

However, the average car price in Canada varies depending on the type of vehicle you buy.<\/p>

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\"Picture<\/div><\/div>Keep in mind that you\u2019ll have to pay more than the MSRP (manufacturer\u2019s suggested retail price) to own a vehicle. Other costs you need to budget for include financing fees and interest, gas, maintenance, insurance, parking and more. Below we break down the full cost of car ownership in Canada.

How much does a car cost per month in Canada?<\/h3>

To help give you an idea of the overall cost of owning and driving a car in Canada, we looked at the three top-selling vehicles in Canada in 2023 across three categories:<\/p>