Top 10 Car Dealers in Toronto – Or Refinance Your Current Car Loan Instead

Shopping for a new vehicle in Toronto? The city’s full of reputable dealerships representing every brand you can imagine — from Honda and Toyota to BMW and Mercedes-Benz.
But before you trade in your car or sign for another long-term loan, it might be worth asking: should you buy new, or refinance the one you already have?

Here are Toronto’s top car dealerships, followed by why thousands of Canadians are turning to CarRefinancing.ca to lower their payments instead of upgrading to another high-interest loan.

1. Downtown Toyota Toronto

📍 77 E Don Roadway, Toronto, ON

• Known for its friendly team and efficient service.
• Offers both new Toyota models and a wide selection of certified pre-owned vehicles.
• Convenient location for downtown residents.
  

2. Humberview Group (HG)

📍 Multiple locations across the GTA (over 20 brands)

• One of Ontario’s largest dealership groups representing Honda, Volkswagen, Chrysler, Ford, and more.
• Huge used inventory and in-house financing options.
  

3. Ken Shaw Toyota

📍 2336 St Clair Ave W, Toronto, ON

• Family-owned Toyota dealership with an excellent reputation for customer care.
• Offers strong trade-in and service programs.
  

4. Toronto Honda

📍 2300 Danforth Ave, Toronto, ON

• A staple for east-end Honda buyers, known for transparent pricing and trade-in support.
• Good source for certified pre-owned Hondas.
  

5. Midtown Honda

📍 3400 Dufferin St, Toronto, ON

• Centrally located and highly rated by Toronto locals for professionalism and convenience.
• Excellent service department and new/used selection.
  

6. Mercedes-Benz Downtown Toronto

📍 761 Dundas St E, Toronto, ON

• Premier destination for new and certified Mercedes-Benz vehicles.
• Offers luxury financing and leasing programs.
  

7. BMW Toronto

📍 11 Sunlight Park Rd, Toronto, ON

• Sleek, modern dealership showcasing the latest BMW lineup.
• Great service experience and pre-owned selection.
  

8. Gyro Mazda

📍 134 Laird Dr, Toronto, ON

• Family-run Mazda dealership with strong community ties.
• Known for fast, transparent transactions and good trade-in values.
  

9. AutoPlanet (Brampton / Toronto)

📍 225B Biscayne Crescent, Brampton (serving GTA)

• Huge indoor used-car superstore with hundreds of vehicles across brands.
• Great for cross-shopping models without visiting multiple lots.
  

10. Bell Auto Inc.

📍 1127 Finch Ave W, Toronto, ON

• Independent used-car dealership specializing in financing options for all credit types.
• Solid Google reviews for service and reliability.
  

💡 Why So Many Toronto Drivers Choose to Refinance Instead of Trade In

Visiting a dealership often feels exciting — new cars, new smells, new tech. But financially, a new car loan doesn’t always make the most sense.

If your current vehicle is still in great condition, you might be able to refinance your existing car loan through CarRefinancing.ca and save big without changing vehicles.

✅ Benefits of Refinancing Instead of Buying New

• Lower your interest rate: If your credit has improved or rates have dropped, you could secure a much better rate than your current loan.
• Cut your monthly payments: Extending your term or lowering your rate can free up hundreds of dollars every month.
• Avoid trade-in loss: Dealerships rarely give full value for your trade-in — refinancing lets you keep that equity.
• No new debt: Why start another 6- or 7-year car loan if your current car still runs perfectly?
• Fast and easy online approval: CarRefinancing.ca makes the process simple, transparent, and available anywhere in Ontario.

🚘 Bottom Line

Toronto has no shortage of excellent dealerships — but before you take on another expensive car loan, ask yourself if your best financial move might be to keep what you’ve got and refinance your existing car loan instead.

At CarRefinancing.ca, you can check your options in minutes and find out if you qualify for a lower rate, smaller payment, or shorter term — all without stepping foot in a dealership.

👉 Start your free refinance quote today at CarRefinancing.ca