Can’t afford it. I’m so disappointed with the way things are going to be for my kids.
sebajun2 on
I would prefer to not own a car, but even in Toronto, the transit and bike infrastructure is still not great, so I need a car for those trips outside the city. I would get rid of my car in a heartbeat if it was possible, but I need it to get to my job, since transit is not available there (outside the city). I wish we would have a war-time effort to finish Go expansion + bike lanes + build out transit to cities outside of Toronto much faster.
Having to own a car sucks horribly. I absolutely hate driving and cars are a burden on finances for no reason. Such a waste of money.
Gourd_Downey on
They’re fucking broke
Ok_Manufacturer_5323 on
It’s a symptom of extreme poverty anywhere outside downtown Toronto or Vancouver
shlamwow on
Are WE really, hitting the brakes? I guess it has nothing to do with everything being unaffordable and young people being unable to find career worthy jobs because they don’t pay enough or because people can’t retire out of those positions until they’re 70 due to economic uncertainty.
Maybe it’s because the government fooled us “young Canadians” into, buy buy buy-ing houses because the prices are just going to increase and that is going to be our nest egg – but now my $900,000 townhome in Vaughan is probably only worth $800,000 only 5 months later.
KeyanFarlandah on
When car payments on a new car are 700+ no kidding…. My last car was half that 7 years ago.. I am driving that until it’s comically falling apart if possible.
No_Party_9995 on
Let me translate it for you: Canadians are getting poorer
EatBaconDaily on
In Montreal you don’t really need a car, except for special circumstances, glad to pass the savings on to my investment accounts
No-Expression-2404 on
Of course they are. No home, no beers, no cars,m…. I make 6 figures and I’m broke. Somethings gotta change, folks. I can’t even afford to buy a goddamn steak at the grocery store. Economists are gonna hate it, but deflation is coming. It has to
Powerful_Network on
I paid off my car last year and my father was like „oh you can trade it in at max value and get a new vehicle.“ It just outlined the generational gap. Doing something like that was easy for a middle class baby boomer but as a millennial my mindset is run this car into the ground.
Life-Appointment6515 on
Yeah I’m hitting the breaks on pretty much everything. I just rent an apartment and plan on owning nothing. And I’m fasting for the most part I don’t want to spend money I don’t have
accforme on
Or maybe that will change once they move to the suburbs and have kids. An article like this exists every decade-ish.
2014 about Millenials:
>A growing body of statistics shows people under 35 are less likely to own a car, and more likely to travel by transit or bike.
Cars suck. They’re a money sinkhole. I wish I didn’t have to rely on a car.
YeetCompleet on
Can’t afford cars and they don’t even have strong public transit as an alternative either lol
weschester on
Thanks capitalism! First home ownership and now vehicle ownership. At least the billionaires are happy though and I’m sure some of that will trickle down to me eventually!
OddArmy on
glad i walk
bugabooandtwo on
Vehicles cost a lot of money…then add fuel, maintenance and insurance….it’s nearly impossible for people to afford a car these days.
Spider-King-270 on
Have you seen the prices of cars and car payments? It’s insane the idea of a new car every 5 years is now long dead.
-canucks- on
Young candians are ditching homes and living on the street. Headline next year
Miserable-Day7417 on
I mean yeah this checks out. I will say though, as a young Canadian that could technically “afford” a car I genuinely just don’t want to have to own one if I can avoid it. Would feel absolutely fine never owning one.
They are money sinks regardless of what you do. There are other, cheaper, healthier ways to get around. Of which I have always preferred and will continue to prefer. I use a normal bike, Ebike, and transit. Uber and or car rentals when needed as well. All of which are far cheaper than car ownership.
I genuinely hope this continues. Maybe not due to affordability, but because cars suck in my opinion. Everything around them is bent on sucking your wallet dry. Besides, if I’m choosing between a vroom vroom or actually making an attempt to own a home or land one day, I’ll take the latter every time.
krakilin0405 on
No money mate, hoping the new Chinese EVs we will be getting are more affordable
discreetegardengnome on
What!?! Young Canadian can’t afford 75k SUV?? I’m shock, who would have have thought. At least the housing market is very affordable, that’ll give them a break.
Phelixx on
My SIL just bought a truck. Ram 1500, $90,000 truck. She put $30,000 down and has $950 a month payment for 7 years.
I’m not saying it’s a smart financial decision, I’m just highlighting how much money you can quite easily spend on a truck.
SevenSmallShrimp on
I can’t blame them. Insurance is insane and so are car payments now. I bought a car right before the market jumped and I’m going to try and keep that thing running as long as possible
ImmaFunGuy on
I take uber full time and still cheaper than owning a new car
Legitimate-Trip8422 on
It’s called getting poorer day by day. Do the journalists not understand this?
Used shitboxes and overcrowded buses will come to the rescue like third world nations, Canada headed in the same direction.
sickwobsm8 on
I’m 34, so not „young“ but I bought a car in 2019. I got lucky and found one new for 0% financing. I am driving this car until it falls apart. Spending over $1000 a month for a vehicle after payments, insurance, gas, maintenance… It makes zero sense financially.
I’m putting my saved payments into an investment account now.
I will never be able to justify the idea of spending $100k+ on a vehicle when that money could be put to better use.
NickScissons on
Showed my dad a dirtbike I’m planning on buying and he says “I wouldn’t buy that, it’s four times what I paid for my first bike”. No shit ole boy, everything is.
Larkalis on
Can’t afford insurance, maintenance, lease or financing payments
Matyce on
Insurance costs to much even in Manitoba and BC where you only have one option and that option is expensive
Carbsv2 on
Yeah, there are alot better things to do with 8k+ a year…
Haven’t owned a car for 8 years. No plans to buy one.
External-Pace-1822 on
People drive less today too. We aren’t as dependent on our cars anymore. My wife and I have got by ok on just 1 which we never would have thought about 10 years ago.
katienatie on
I hope to never own a car. Like, I could afford one if really wanted one. This is a choice. r/fuckcars
Bubbafett33 on
Young Canadians are hitting the brakes on home ownership too.
The article is paywalled, but if it’s anything other than “because prices have gone up for new and used vehicles at a much higher rate than wages”, then it’s a waste of words.
gigglepox95 on
I think people genuinely do like driving less
pruplegti on
I’m in my 50’s and drive a 20 year old junk box, I keep thinking I should buy a new car, but then I see the payment terms its more than my remaining mortgage payments, so I keep my junk box on the road as long as they still make parts.
athendofthedock on
I want to sell my daughter our car that we plan to trade in, probably worth about $20KCAD, for $10K. She can’t afford to get loan and cover her living expenses. She’s 23 and works full time. I don’t know how much she makes but it’s not enough.
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38 Kommentare
You will own nothing and be happy!
Can’t afford it. I’m so disappointed with the way things are going to be for my kids.
I would prefer to not own a car, but even in Toronto, the transit and bike infrastructure is still not great, so I need a car for those trips outside the city. I would get rid of my car in a heartbeat if it was possible, but I need it to get to my job, since transit is not available there (outside the city). I wish we would have a war-time effort to finish Go expansion + bike lanes + build out transit to cities outside of Toronto much faster.
Having to own a car sucks horribly. I absolutely hate driving and cars are a burden on finances for no reason. Such a waste of money.
They’re fucking broke
It’s a symptom of extreme poverty anywhere outside downtown Toronto or Vancouver
Are WE really, hitting the brakes? I guess it has nothing to do with everything being unaffordable and young people being unable to find career worthy jobs because they don’t pay enough or because people can’t retire out of those positions until they’re 70 due to economic uncertainty.
Maybe it’s because the government fooled us “young Canadians” into, buy buy buy-ing houses because the prices are just going to increase and that is going to be our nest egg – but now my $900,000 townhome in Vaughan is probably only worth $800,000 only 5 months later.
When car payments on a new car are 700+ no kidding…. My last car was half that 7 years ago.. I am driving that until it’s comically falling apart if possible.
Let me translate it for you: Canadians are getting poorer
In Montreal you don’t really need a car, except for special circumstances, glad to pass the savings on to my investment accounts
Of course they are. No home, no beers, no cars,m…. I make 6 figures and I’m broke. Somethings gotta change, folks. I can’t even afford to buy a goddamn steak at the grocery store. Economists are gonna hate it, but deflation is coming. It has to
I paid off my car last year and my father was like „oh you can trade it in at max value and get a new vehicle.“ It just outlined the generational gap. Doing something like that was easy for a middle class baby boomer but as a millennial my mindset is run this car into the ground.
Yeah I’m hitting the breaks on pretty much everything. I just rent an apartment and plan on owning nothing. And I’m fasting for the most part I don’t want to spend money I don’t have
Or maybe that will change once they move to the suburbs and have kids. An article like this exists every decade-ish.
2014 about Millenials:
>A growing body of statistics shows people under 35 are less likely to own a car, and more likely to travel by transit or bike.
https://www.cbc.ca/news/canada/british-columbia/millennial-generation-changing-the-world-one-commute-at-a-time-1.2772007
Cars suck. They’re a money sinkhole. I wish I didn’t have to rely on a car.
Can’t afford cars and they don’t even have strong public transit as an alternative either lol
Thanks capitalism! First home ownership and now vehicle ownership. At least the billionaires are happy though and I’m sure some of that will trickle down to me eventually!
glad i walk
Vehicles cost a lot of money…then add fuel, maintenance and insurance….it’s nearly impossible for people to afford a car these days.
Have you seen the prices of cars and car payments? It’s insane the idea of a new car every 5 years is now long dead.
Young candians are ditching homes and living on the street. Headline next year
I mean yeah this checks out. I will say though, as a young Canadian that could technically “afford” a car I genuinely just don’t want to have to own one if I can avoid it. Would feel absolutely fine never owning one.
They are money sinks regardless of what you do. There are other, cheaper, healthier ways to get around. Of which I have always preferred and will continue to prefer. I use a normal bike, Ebike, and transit. Uber and or car rentals when needed as well. All of which are far cheaper than car ownership.
I genuinely hope this continues. Maybe not due to affordability, but because cars suck in my opinion. Everything around them is bent on sucking your wallet dry. Besides, if I’m choosing between a vroom vroom or actually making an attempt to own a home or land one day, I’ll take the latter every time.
No money mate, hoping the new Chinese EVs we will be getting are more affordable
What!?! Young Canadian can’t afford 75k SUV?? I’m shock, who would have have thought. At least the housing market is very affordable, that’ll give them a break.
My SIL just bought a truck. Ram 1500, $90,000 truck. She put $30,000 down and has $950 a month payment for 7 years.
I’m not saying it’s a smart financial decision, I’m just highlighting how much money you can quite easily spend on a truck.
I can’t blame them. Insurance is insane and so are car payments now. I bought a car right before the market jumped and I’m going to try and keep that thing running as long as possible
I take uber full time and still cheaper than owning a new car
It’s called getting poorer day by day. Do the journalists not understand this?
Used shitboxes and overcrowded buses will come to the rescue like third world nations, Canada headed in the same direction.
I’m 34, so not „young“ but I bought a car in 2019. I got lucky and found one new for 0% financing. I am driving this car until it falls apart. Spending over $1000 a month for a vehicle after payments, insurance, gas, maintenance… It makes zero sense financially.
I’m putting my saved payments into an investment account now.
I will never be able to justify the idea of spending $100k+ on a vehicle when that money could be put to better use.
Showed my dad a dirtbike I’m planning on buying and he says “I wouldn’t buy that, it’s four times what I paid for my first bike”. No shit ole boy, everything is.
Can’t afford insurance, maintenance, lease or financing payments
Insurance costs to much even in Manitoba and BC where you only have one option and that option is expensive
Yeah, there are alot better things to do with 8k+ a year…
Haven’t owned a car for 8 years. No plans to buy one.
People drive less today too. We aren’t as dependent on our cars anymore. My wife and I have got by ok on just 1 which we never would have thought about 10 years ago.
I hope to never own a car. Like, I could afford one if really wanted one. This is a choice. r/fuckcars
Young Canadians are hitting the brakes on home ownership too.
The article is paywalled, but if it’s anything other than “because prices have gone up for new and used vehicles at a much higher rate than wages”, then it’s a waste of words.
I think people genuinely do like driving less
I’m in my 50’s and drive a 20 year old junk box, I keep thinking I should buy a new car, but then I see the payment terms its more than my remaining mortgage payments, so I keep my junk box on the road as long as they still make parts.
I want to sell my daughter our car that we plan to trade in, probably worth about $20KCAD, for $10K. She can’t afford to get loan and cover her living expenses. She’s 23 and works full time. I don’t know how much she makes but it’s not enough.