Drive away for only $299 biweekly!

This is the best answer in this thread. I just watched a new report of how a young millenial was happy to get rid of her clunker and buying a new car. The news segment was about 7+ year loans and how they are much more prevalent now that people are stretched to the limit with expenses and will take on longer loans to make the monthly payments smaller. This woman bought a KIA for a final sale price of $31,000 CAD. $31k for a KIA! People don't realize how much money that is until they realize how slowly the loan gets chipped away every month. It is really bad.

The best thing I learned to do is shop privately with online websites. Yes, it can be a struggle and challenge but the savings will be amazing. My latest car I bought a 2007 Mazda3 with 160k on it for a total price of 3000 bucks. That was less than 2 paycheques. 6 months later I've had no issues with it. A dealership would have probably tried to sell this to someone for at least double that.

I feel bad for those who don't go private. They get ripped off big time. Cars are not supposed to be so expensive they take 5 years to pay off. The new and used car market has gotten a lot worse for the customer.