Actually, if you have a PAL(prohibited) and a ATC-3, you can carry a concealed handgun. However, every interaction you have with the police is going to be with them having their gun drawn and their nerves jangled. It's pretty easy to get dead that way.
If you live in a very rural area, it's possible to get a PAL(prohibited) and a ATC-2 which allows you to carry in an visible holster outside your clothing. Same cravat applies with the police, any dealings you have with them is going to be with guns drawn and you a mistake away from death.
Even if you have an PAL(prohibited) and a ATC which requires you to have your handgun stored in a gun safe except when on the range's firing line - all of you interactions with police are going to be with guns drawn and you a mistake away from death.
The fact that you have the documents to possess a handgun is going to pop up as soon as the police enter your name or plate.

It does keep people from asking to borrow your car

It's unpleasant to have a traffic stop turn into an "event", especially if you don't own the car.
That's why I turned in my handgun when I left Toronto.
I've always hunted and my long guns are quite sufficient. If my home was invaded, they wouldn't be much good as they are stored in a gun safe. I doubt that a home invader is going to give me a "time out" while I extract and load them.
And - - that is the problem with the purchase of a weapon of any type for personal defense. Only criminals are going to have a weapon that is loaded and ready for use.