Depending on where in Canada you live, buying an older car to cope with winter while your pride and joy stays safe in the garage is a way of life. But do they make financial sense?
Much depends on your situation. If you have the spare cash and have a performance or exotic car that won’t enjoy winter in Ancaster, it could make sense.
If you’re looking at a car loan to finance it and your main car could feasibly handle winter, it may not much so much sense.
It’s entirely dependent on your current car and your situation.
The pros of a winter beater
There are a few obvious benefits from having a winter beater to handle harsh weather:
- Your main car stays safe and sound – If you drive a luxury car, sports or performance car or an exotic, they are not designed for an Ancaster winter. This is when a beater makes most sense.
- Your main car is close to the end of its lease – If you’re closing in on the mileage limit or want to keep it safe during winter to save those end of lease fees, a winter beater can make sense.
- Less stress – An accident or weather damage in any car is stressful but if you damage your beater, it will be far less stressful than if you damage your main car.
The cons of a winter beater
It isn’t all good news though. Winter beaters can have downsides, like:
- Twice the insurance – Both cars will need to be insured regardless of whether you’re driving them or not.
- Twice the maintenance – Stored cars still need maintaining so you’ll have two vehicles to check or have checked between seasons.
- Less luxury or performance – A winter beater might be quite a step down from your main car. Some can adapt to the difference better than others.
- Higher potential for breakdown and repairs – Many winter beaters are older, cheaper cars. They can often bring a higher potential for breaking down and for needing repair.
You would be surprised at how many people forget that a car still needs to be insured whether it’s in storage over winter or not. The last thing you want is for it to be stolen or damaged while not insured!
In theory, if you live somewhere that gets really cold, a winter beater makes perfect sense. An older SUV or something reliable can make sense as long as you can afford it and have somewhere safe to store your main car.
The alternative of course is to drive something that can cope with anything. A crossover, SUV or AWD sedan could also cope with most Canadian winter can throw at them.
A set of winter tires is much cheaper than a winter beater that’s for sure!
Whatever you decide is best for your situation, we can help finance it. Competitive car loans in Ancaster mean you can drive what you want, when you want.
For those of you who know that you have a challenging credit situation, please visit Dixie Auto Loans where we have a team of credit specialists ready to help you get approved for a car loan today!