well, i wonder how many of you guys have actually tried being car-less in Toronto?
*maybe* it'd work if, say, you worked at the Eaton Centre (like me) and lived in one of those overpriced Harbourfront condo's (like some people in my office) and you were single with no kids... and had no qualms about doing all your shopping at expensive downtown shops... :O
but for most people who live in the "city" (read: Megacity), a car is necessary to overcome the poorness of our mass transit system.
unless you live near one of the 2 subway lines. even then, commute times of up to 45-50 minutes are common during rush hour, and your total travel time would get worse the farther each of your endpoints (your house and your office) were from an actual subway station.
Now I'm not saying you'd need to drive to work, but you may very well need to drive to the parking lot of, say, a subway station or GO station.
also, i'm not a fan of the TTC in general after 10pm. while it may not be as bad as the transit systems in LA or NY after dark, it's getting there...
BTW please don't compare Toronto's transit system to London's. The Brits' system is amazing and quite possibly, the BEST on this PLANET! It'd take 100 years (with current levels of funding and current rate of funding increases) for us to have something even remotely resembling theirs.
Sorry for OT. If I had $30k for a "weekend" car I'd get a Toyo Highlander

yes, it might have to be 1-2 years old to stay within budget.