Car Loan News

Stay connected with us by reading our blog. We post industry news, special deals and promotion, and opinion pieces from experts around the car loan industry.

Apply Now

Fill out the form below to get a FREE quote.

I agree to the Terms & Conditions

Infographic: What Is The Cost Of Owning A Car In Oakville?

12/07/2018 @ 7:27 am

Figuring out how much your car is costing you every month can be a useful practice to help you understand your finances and stick to a budget.

Seeing what the average for you area is can also help you see whether you are getting a good deal or if you’re being taken to the cleaners. There are many things that go into the daily running costs of your vehicle, such as insurance, gas, daily commute, and depreciation. Knowing all of these will help you figure out how much you’re spending every day on your set of wheels.

Oakville is a historic suburban town to the southwest of Toronto, home to some 193,000 residents. It is a lakeside community known for its beautiful outdoor areas and vibrant artistic scene. Many Oakvillians commute to downtown Toronto for their jobs, which makes owning a car in this town almost essential. The average Oakville resident is spending 85 minutes travelling 61 kilometres each way on their daily commute. This is setting them back $9.15 in gas costs each way, based on average fuel efficiency. While this sounds pretty high, it is somewhat balanced by the lower living costs in Oakville, coming in at 22.49% cheaper than what Torontonians are paying.

Oakvillians are also paying some of the lowest insurance rates in Ontario, coming in at $1,340. However, the average cost of gas is slightly higher than the norm, sitting at $1.06 per litre.

For anyone looking to get on the road in Oakville but concerned about being rejected for their low credit score, Oakville Bad Credit Car Loans is here to help. We make getting approvals our top priority, and we never accept ‘No’ for an answer when we negotiate with Canadian banks. Contact us today and let us help you get into the car of your dreams sooner.

Oakville Bad Credit Car Loans Infographic

 

Categories