The costs of owning a car in Canada rising quickly, in addition to the definitions – national

A new survey in some cases, at a faster rate of inflation – indicates that having a vehicle in Canada becomes more expensive – in some cases, at a rate of faster than inflation – and may rise by 25 percent with tariffs and inflation.

Leger Scan for Toro CanadaAuto sharing company says that the average cost of owning a car or truck has increased by nine percent since last year, and experts say this will rise more given the economic expectations.

Economists and financial analysts say that US President Donald Trump imposes a tariff on almost all countries and raises a trade war in the end. High consumer prices, including cars and trucks.

Although The new government of Prime Minister Mark Carney She has pledged to work on a sharp amount of customs tariff pain, including for the auto sector, and it will be some time before prices reflect any improvements.

Until then, Canadians should expect car ownership more financial burden as the cost rises more quickly.

According to the survey results, the Mediterranean Kindy spends $ 5497 to own a car annually, as Ontario was above $ 6000 and British Colombia is the most affordable near $ 4,500. In addition, one in three of the respondents says their expenses exceed $ 7,000 a year.

Those who have vehicles have been informed about their monthly income, as average of 14 percent is heading to car related expenses. The younger drivers pay much more, as they pay the ages of 25 and 44 years 7,029 dollars annually, while those who number more than 65 years pay half of that at 3,728 dollars.

The size of the family and its income also plays a role as those who have a higher income and/or children usually have more than one vehicle.

It is not only related to payment against the car itself through financing or leasing,

“One of the largest costs is your fuel. Another maintenance is maintenance. Everyone must replace the tires at some point, brakes, oil changes – we do not necessarily put all this in the bucket of the cost of owning our car,” says Christine Darbels at the Canadian Automobile Association.

“You also have your insurance costs and this number is very different“

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Then, if you want to sell or trade in your car at the end, D’Arbeles notes the importance of the collaboration of the value of the car over time.

“Consumption is if you expect to sell your car … Knowing that you will not be able to sell it with the same amount you bought,” she says.

“It can reach 50 percent of the cost of owning and operating your car.”

It is also expected that those who already owns a car will face some increasing costs Facing Trump’s tariff.

The vast majority of Canadians still depend on the use of a vehicle, as more than half of the respondents say that without reaching one they will need to change jobs.

Certainly there are alternatives, such as public transport, taxis and horseback services, as well as walking or Bicycle riding where possible.

However, not everyone has these available options, especially those who live in other areas or suburbs, or when public transport is not satisfactory.

Forty -one percent of the respondents said they want to have better transportation options so that they do not need a car at all.

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