The cheapest way to get around Toronto
Whether you are getting to and from work, off to see friends or taking in one of the city’s many attractions, Toronto is a big city to navigate. Thankfully, there are plenty of options available to get you from point A to point B, but, is one more cost effective than another? Truly, walking or even biking are the least expensive ways to get yourself where you need to go, but what if you are going further than your little legs can carry you, or the weather is not on your side? What then is the cheapest avenue to take? Let’s have a look at the options and how much they cost per month.
Your own car
While having your own car in the city offers you a high level of convenience, it comes at a high cost. Not only do you have your monthly car payments, you have to pay for parking, gas, and whatever maintenance or problems that may arise. In addition, you’ll also have to pay for insurance, and while there a multitude of ways to save on auto insurance it is an expense best avoided if a car is not essential to your way of life. However, if you need to travel outside of the city for work often, or need regular access to a vehicle for one reason or another, the cost may be worth it.
The numbers:
*Approx. numbers calculated with owning a 2017 Honda Civic, and by using the HUB Insurance Hunter auto insurance quote tool.
Car payments – $350
Parking – $250
Gas – $50
Maintenance/repairs – $60 (Avg., some months there will be nothing, others a hefty bill. Best to put this money away regardless for future repairs, emergencies.)
Insurance – $130
Total – $840
TTC
Taking the TTC gives you a number of transportation options, including the subway, streetcar, city bus, and the GO train/bus systems. The various systems are all fairly accessible to everyone in Toronto, and the GO offers a convenient way to visit neighboring cities. For many, the reality is having to take the TTC to work and back every day, which at $3.25 a ride (with tokens), or $3 a ride (with a Presto card) can really start to add up. Thankfully the TTC offers a monthly-unlimited pass. If you do not need to take the TTC everyday, a Presto card, which you can reload as you need, may be a better option.
The numbers:
Presto card (or tokens) – $80 (spending an avg. of $20 a week)
Monthly Metropass – Adult: $146.25, Student/Senior: $116.75
Ride hailing services or taxis
With the rise of apps like Lyft and Uber, getting around is as easy as tapping a few buttons on your smartphone. Many taxi companies have also begun to roll out apps to help hail a ride. But, while convenient, taking taxis or utilizing ride-hailing services can add up quickly and become costly. These services are best saved for nights out or when walking or the TTC are just not a viable option.
The numbers:
*Based off of 2 nights out a week, taking an Uber, Lyft, or taxi both ways.
Total – $240 (Approx. $15 a trip)
The winner
Aside from walking or biking to get yourself to work and back and around the city, it looks like opting for a Presto card or Metropass and taking the TTC is your best option.
Everyone’s needs are different, and while having a car in the city is expensive, it may be necessary for some. And, while ride-hailing services or taxis can add up, it can be a great way to get to your destination quickly and without hassle. Regardless of your preferred method of transportation, think critically about how you get around the city. Doing so will help you see where you can try to cut costs, whether that means you walk more, or opt to take the TTC instead of Uber.