Toronto, Ontario -- Owning a vehicle in Canada is becoming more expensive, a survey based on the opinions of 1,500 Canadian drivers has found.
In its latest car ownership index, the peer-to-peer car sharing platform Turo found almost half of Canadian drivers (48 percent) consider their vehicle to a financial burden. Of those surveyed, 41 percent reported spending more than $500 per month on car-related expenses, while 11 percent said their monthly costs exceed $1,000.
With costs mounting, one-in-three respondents admitted they have considered selling their vehicle due to financial pressures. Nearly 60 percent said they would sell if not for the necessity of owning one.
Despite the increasing financial burden, Canadian drivers are actually using their cars as much as in the past. Last year, the average driver got behind the wheel three days a week, with 41 percent driving less than 10,000 kilometres over the course of 2024.
Turo also found one-in-five drivers were interested in listing their vehicles on a car-sharing platform in order to generate additional income. This number climber to 28 percent among young adults aged between 18 and 34.
