Parking costs are rising, so here are 5 tips to help you save

Today the thorny issue for the municipal government is the number of vehicles and the capacity of cities to cope with the growing traffic. People are increasingly buying cars. Every year statistics of purchased vehicles are breaking records, including May 2017 which had the highest monthly total of cars sold in a month. This affects car owners, as they are getting less parking spaces but prices are continually rising.

To park your car in downtown Toronto, Vancouver, or Montreal for the day, you will have to pay at least $15 per day. We do not take into account parking during sporting or cultural events, where prices can reach $25 for a few hours. Moreover, some airports are asking up to $30 per day, and after some calculations, you can see that weekly parking will cost you at least $200.

However, if you are a suburbanite, you will feel less parking pain but don’t forget that the cost is still rising for all cities. Anyway, you’ll encounter a situation several times per month when you have to pay more for parking than you expected. Thus, our tips will help you save some money.

Buy a monthly pass

If there is a garage near your office, which offers monthly passes for parking, in most cases they will be cheaper than always buying one every week. It will also help you to avoid situations when you don’t have the cash to pay, or your credit/debit card did not work. According to our observations, you will be able to save up to 20-30% every month.

Ride with the friends or coworkers

Carpooling is gaining popularity in Canada. There are even some websites (not counting Uber), where you can find people living near you who commute in the same direction every morning and are willing to share a car with you. However, in this case, it is still a big chance to encounter problems like inadequate drivers and passengers, as well as people who simply want to steal your vehicle. So, carpooling is still a long improvement process, but it can help you save money on parking and gas, as well as get to work faster. Many major highways in Canada have dedicated lanes for cars with two or more passengers.

Economy lots near the airport

For those people who permanently live on the road, the opportunity to leave the car near the airport helps you a lot. However, the airport authority often uses this as additional income, putting insane price tags for the day. Not to overpay, you can take advantage of unique economic lots, which often are located nearby. Before heading out, check the website of the airport for the presence of such kind of lots, or find the nearest in Google Maps. Also, there is always the possibility to park your vehicle on private companies offsite. Usually, the price tags are lower there. Thus, you can save up a few hundred dollars during your vacation. This rule also applies to different kind of events. If you like walking and you have the time, Park the vehicle a few blocks from the venue.

Work from home when possible

We live in the Internet age when many things can be done from home. Some jobs allow employees to perform certain functions with the same efficiency as in the office. You can always make purchases via the Internet, which will help to save on parking. Therefore, we recommend if possible to stay home and not waste gasoline if you do not have to. This will help to save up to several hundred dollars a year that can go to good causes like paying the balance for a vehicle or apartment.

Use public transport where possible

If you live in the major cities, then you are using public transport every day or as needed. For many, this is the way of life in 2017. However, if you are passionate car supporter, you still should give it a try. If several times a week you will ride the bus or subway, you will be able to save money on gas and parking significantly. Also, there is always the system of discounts for different passenger categories.

Can I save some money by following your tips?

Some of our tips need time to see the result. It can be from one week to one year, so you should have patience. However, with proper management of your financial resources, you will be able to achieve more amazing results. Nowadays it is an outstanding skill, which we recommend you to learn.

By | 2017-08-10T00:28:26+00:00 June 16th, 2017|Money saving tips, The411|

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