With the cost of living seemingly to climb ever higher in Toronto year after year, many people are looking to buy used cars when they need to get on the road.
In the past, driving a brand new car off the lot was a moment of pride for many drivers. But while that new car smell was undeniably alluring, the instant loss of value of up to 20% was less so.
These days, many are realizing that buying a used car makes a lot more financial sense in their circumstances. Used cars do not depreciate anywhere near as fast as new cars, they are much cheaper, and they have stood the test of time and so you can usually be confident in their reliability.
But how cheap can you get a used car on Toronto’s Craigslist?
We did the legwork for you and have found the top 10 cheapest used cars you could pick up today (accurate as of November 7).
10. 2010 Chevy Aveo – $1100
As far as used cars on Toronto’s Craigslist goes, this Chevy Aveo is an absolute steal!
Extremely new for a used car, this 2010 model is a 5 speed manual that has recently had a new battery, transmission, clutch, front brakes and rotors installed. There appears to be very little wear and tear on the exterior or interior, with the striking red paint job looking especially fresh.
The seller does note that the car requires one front wheel bearing recalibration at an estimated repair cost of $300. However, considering you could snag yourself a car that is less than 10 years old for a total of $1100, this would definitely still be an excellent deal.
With 260,000 kms on the odometer, this relatively new used car in Toronto is definitely worth considering if you are looking for a solid ride that’ll last you for years to come.
9. 2003 GMC Envoy – $1000
If you’re looking more for a people mover, then this GMC Envoy might be more your style.
The 7-seater comes with dual air, cruise control, remote start, custom JVC DVD player and tuner, power tinted windows, and a top of the line Kensun Hid headlight conversion kit. On top of that, the car has just had a brand new catalytic conversion system installed so the car can pass an e-test easily.
While that all sounds almost too good to be true, the seller is clear that the car is not driveable in its current condition. Some transmission work is required to get this beast back on the road, but the listing makes clear that the engine is in great condition, and so wouldn’t require an extremely expensive engine replacement.
Toronto used cars rarely come with this many extras, especially not in a 7-seater, so this could be the deal of the decade if it’s right for you!
8. 2009 Mazda 6 – $950
Another relatively new addition to our list is this 2009 Mazda 6.
Showing very minimal wear on the exterior body, this modern style car includes a range of nice modcons including power windows, power mirrors, remote unlock, air conditioning, alloy wheels and tilt steering. With only 186,000 kms to its name, it’s also got relatively low mileage for a used car so should hopefully last you a long time!
One thing to be aware of is that the car needs a sub-frame or engine cradle to get back on the road. The seller states that this piece is only available from the Mazda dealership and costs $1,500. If you have any connections in the auto industry or know a good mechanic that could get this to you cheaper, this could be the perfect used car for you.
7. 2001 Volkswagen Jetta – $850
One of the most reliable cars on the market, this 2001 Volkswagen Jetta is a guaranteed starter.
A 5-speed transmission with a gas engine, this German designed car comes with pre-installed roof racks and a clean service record. The listing says the car runs well and the engine and drivetrain are in good shape, which is good news for any potential repairs. The car has 325,000 kms under its belt, which is relatively high, but assuming no major repairs are required it could still last for another few hundred thousand kilometers.
Used cars in Toronto often come with more apparent issues than this listing so it could be well worth the sub-$1000 asking price.
6. 2005 Nissan Altima 2.5S – $800
That 13 years old, this car has certainly stood the test of time.
Coming with pre-mounted Bridgestone Blizzak winter tires, this is a car you can take straight into the colder months. Coming with powerful air conditioning, spacious and well maintained interior, and good fuel economy, this is a car that could definitely get you where you need to go.
The seller is upfront about a few defects including a cracked door handle and occasionally requiring a second attempt to get going. This is likely an indication that it needs a battery replacement, but a thorough inspection by a mechanic is recommended. There also appears to be a noise coming from the wheel well, which could be a simple caught foreign object or something more serious.
At $800 you can’t really argue with the value on this Toronto used car!
5. 1994 Toyota Carolla DX – $700
The oldest entry on our list so far is this 1994 Toyota Carolla DX.
At almost 25 years old, this car may be getting on in years but it miraculously only has 173,000 kms on it. The fact that the car has only been owned by one person and still has good air conditioning is another welcome surprise!
Something to definitely be wary of is the note from the seller that there is oil leaking from the car. Oil leaks are always a cause for concern, but they could be a relatively minor patch or indicative of some serious required repairs.
Those are just the gambles you have to take when buying a Toronto used car!
4. 1998 Ford Contour SE – $650
Another older model on our list, this 1998 Ford Contour could still have plenty of life left in it.
Even though the car is 20 years old, the seller claims it has been extremely well maintained with frequent rust proofing and oil changes keeping it running smooth. Its E-test is good until 2019 and it only has 175,000 kms on the dial which is extremely low for a car this old.
Some causes for concern are the ‘Check Engine’ light currently being engaged. This could mean anything from minor optimizations that need to be made to a complete replacement, which can cost up to 5 times the cost of this car. The seller also guesses that the suspension on the passenger’s side might require work, which is an additional cost to consider.
Ultimately this car could be a bargain or it could be a money pit. Whether you’re prepared to take that risk is up to you!
3. 1997 Toyota Carola – $600
Our second Toyota Carolla to make it onto our list, this 1997 model comes in at just $600.
Whilst the listing is fairly light on details, the seller does highlight that the car drives and the engine and transmission are in good working order. The car also only has 230,000 on the odometer, which is relatively low for a car over 20 years old.
Some rusting on the exterior could turn off some buyers, but depending on the severity this could be an easy and cheap fix.
If you’re looking for a cheap used car in Toronto, this is a pretty solid option!
2. 2002 Honda Civic LX – $550
Coming in at number two on our cheap used cars Toronto list is this 2002 Honda Civic LX.
At just $550, this car is a steal considering it is less than 20 years old. Coming fully loaded with power windows and doors, it only has 230,000 kms on it as well, which is fairly low for a car this old. Despite it having sat around for months without being driven, it doesn’t have any rust on it which is a rare find also!
The seller does note that it will need a new alternator to get it on the road. A remanufactured alternator can run up to $400, whilst a brand new one can be anywhere from $500 to $1000. Definitely something to keep in mind if you decide to make an offer.
1.2004 Mazda 3 – $450
Our top cheapest used car in Toronto is this 2004 Mazda 3 at just $450!
For paying less than $500, this used car is in surprisingly good condition. Frequent oil changes, new battery and a fresh set of wheels makes this a steal for the asking price. With 350,000 kms on the odometer, there should still be another hundred thousand or so left in it before you need to think about moving on.
Something the seller does call out is that they think the car needs new wheel bearings or struts based off some odd noises occurring during a turn. There is also some rust on the bottom of the body, which is to be expected.
For $450 you can’t really argue with the potential value this Toronto used car could bring you!
Do you need to get on the road as soon as possible but have bad credit or don’t want to deal with the potential pitfalls of buying a used car in Toronto? Contact Autoloans.ca today and experience a different kind of car loan.