Buying A Smaller Car In Ontario

If you need a car mainly for commuting, doing errands and tooling around town, your best bet is likely a small car (a.k.a. compact or sub-compact). Because of their size, they’re easier to drive, maneuver and park compared to larger cars, trucks or SUVs.

Compact cars also provide better fuel efficiency and can be more affordable than bigger vehicles. In fact, when gasoline prices rise to $1.30 a litre, that is a “tipping point” for Canadian motorists to quit their gas guzzlers in favour of smaller cars.

And while a van or SUV is roomier, in recent years the design of smaller cars has focused more attention on maximizing interior spaciousness. Many small cars have tall roofs, offering plenty of head room. Hatchbacks are especially practical. By folding down the rear seatbacks and lifting the hatch, you can have interior space that approximates that of a small SUV.
Here’s what you should know and do when shopping for a smaller car.

● Identify dealerships near you that sell smaller cars. Online resources like http://carbyemail.com/canadian_car_dealer_directory.aspx can help you locate dealers in your area. The major brands for small cars include Chevrolet, Ford, BMW, Nissan, Scion, Toyota, Honda and Volkswagen. Look for dealers who sell them.fr

● Draw up a budget. Even though compacts may be easier on the wallet (than larger cars), they are still a costly acquisition. Prices vary widely, from $14,000 for a basic subcompact to $35,000 for a high-performance model. If you need to finance the purchase, figure how much you can manage for a down payment and monthly installments to help you create a budget before you begin shopping.

● Decide what features matter the most to you when considering small cars. Fuel efficiency, for example, will vary from 7.4 L/100 km in the city (Honda Civic) to 9.8 L/100 km (Volkswagen Golf). The number of passengers accommodated, access, the comfort of the ride and luggage space will also vary in different models.

These aspects are usually interconnected. For example, fuel efficiency is linked to low weight, small size, and modest power. You get a smoother ride in cars with a longer wheelbase and higher weight.

The strategy that is most economical is to choose a car that gives you adequate space but without buying more vehicle than you actually require. You can consult the lists of recommended small cars at ConsumerReports.org, starting with the smallest and least costly, and moving up to the more expensive.

● Be sure to consider the Consumer Reports’ safety ratings for the small cars you have in mind. Smaller cars won’t stand up as well as larger cars if they’re in an accident. So make sure the smaller car you buy has front airbags, lap and shoulder seat belts and electronic stability control (a computer-controlled device which automatically and selectively applies brakes to prevent a sideways slide.)

For information about PRUDENT VALUE CARS, visit our web site: www.prudentvaluecars.ca

Fighting Parking Tickets Today In Toronto

We all at some point in our lives have walked out to your own, a friends or family member’s car and have seen that bright yellow ticket flapping from the windshield. The pain of a parking ticket is not so much the monetary value but if you feel you need to fight it then you know that entails frustration and aggravation.

Most of the time, we will pay our parking tickets just so we won’t have to deal with ordeal of fighting them. This is what the city wants. The city wants us to pay our parking tickets and not fight them but sometimes the principal is to strong that there’s no choice in the matter.

So what happens when you want to fight a parking ticket?

You have 15 days to go to one of the four court offices and wait in a long line in order to request a trial. However prior to that, you’ve had to pay for parking, you’ve had to schedule time off work, use your lunch hour, hire a babysitter or worse take your baby with you in order to schedule a trial. This is so nerve wrecking that most people would ignore the ticket and just pay for it when they need to renew their sticker.

Toronto issues about 600 hundred thousand tickets for parking meter violations each year and about 40 thousand are not valid violations.

There is a new option in place and that is to fight your parking ticket electronically, via email or fax. This is only available to parking meter infractions. In many instances the police officer didn't see the ticket, read the time wrong, the pay and display meter printed the ticket incorrectly, the customer put it in their pocket or purse in a rush but will have proof that they've paid. In cases where the meter is broken and you don’t have a camera or phone handy, this new system will not work, you must still visit one of the four offices.
If you've sent proof and it wasn't enough, you do have the option to fight the ticket at a trial but that also you’ll have to do in person.

You can find out more about this new program on the City of Toronto parking ticket disputes website and for more valuable information and tips, visit www.prudentvaluecars.com

How Much Can I Afford For A Car?

When we want to buy a car the first thing we should ask ourselves is, How much should I spend on a car? Most of us will finance or lease a car which means that we’re driving cars we can’t really afford but making the payments thinking that we can. This means that if we had to pay $50,000 for the car outright, most of us couldn’t. Cars in all honesty are not the greatest investment because cars constantly go down in value but it makes our lives easier so how much should we spend on a car?

Whether you have a home that is paid off or you few monthly bills, the basic rule is we should not be spending more than 20% percent of our monthly income. You need to include all car payments in your household. You should also keep in mind that the amount that you can spend on a car should depend on more than just the purchase price. You need to factor in the cost of insurance, gas and maintenance.

First you need to consider your debt ratio. This is the percentage of debt to assets you own. You will take your total debt and divide that number by your total assets. The lower the number the better. Next calculation will be the car price to equity ratio. This is where you take the final price of the car and divide it by the total number of assets you have in the bank again the lower the number the better. If the number is too high, then you are buying too much car. The final calculation is interest and principal. Every car loan comes with interest. The key to this is to make sure you can afford your monthly payments. Let’s say that you purchase a car for $25K and got an interest rate of 5%. You would multiply .05 x 25,000 and the total of $1,250 is roughly the amount of interest you will pay annually. Your combined principal payments plus your interest payment should not be more than 20% of your monthly net income.

If you are buying a new car, it is important that you pay off all short-term credit card debt. If you have more debt than assets in the bank then you should consider buying a used car if you must have a car at all. Visit Prudent Value Cars at www.prudentvaluecars.com where our vehicles are top quality, pre-owned cars and trucks with low kilometres. We offer flexible financing for all kinds of credit and zero down for qualified customers.

Understanding Auto Insurance Coverage

Everyone who drives a car in Canada needs car insurance. It is required by law. When you buy car insurance, you are buying a policy. A policy is based on several different factors and is actually a package of different types of insurance coverage.

Your insurance policy will cover you for expenses such as medical treatment and care, legal costs, property damage and loss of wages if you’re involved in a car accident. When choosing a coverage package, you can choose different levels of coverage depending how much protection you want.

The premium is the amount to be paid for your car insurance policy. The cost is different for every individual and is based on a variety of factors such as:
• The make and model of your car
• Your driving record
• Your insurance claim record
• Your level of driving experience
• Your age
• Where you live
• The distance you drive to and from work.

Insurance companies offer various types of coverage and they are as follows:
Liability – This coverage pays for accidental bodily injury and property damages to others. Injury damages include medical expenses, pain and suffering, property damages and loss of wages.

Collision – Protects your car against damage caused by impact with another vehicle or an object such as a guard rail.

Comprehensive – This covers fire, theft, vandalism and damage caused by natural disasters such as tornados, floods and ice storms.

All perils insurance – combines the coverage provided by collision and comprehensive insurance.

Specified perils – protects your car against specific types of danger such as theft or attempted theft, some natural disasters and riot or civil disturbances.

There are several things that can bring your car insurance premium cost down:
• Have a clean driving record
• Take driving courses
• Combine insurance policies
• Carpool or drive less
• Purchase a low profile car Now just might be time to refresh your memory on where your policy stands.

For more valuable information and tips, visit www.facebook.com/prudentvaluecars