Short answer: Paignton has more parking than anywhere else in Torbay and it is flat, which makes it the easiest of the three towns to arrive at late. The seafront car parks go first; Preston Sands at the northern end holds out longer.
Paignton is the family end of Torbay and it is built for volume — a long flat seafront with parking along most of it, rather than Brixham's squeezed harbour or Torquay's hills. If you are arriving after ten on a hot day, this is the Torbay town to aim for.
The seafront car parks near the pier are the obvious choice and the first to fill. Paignton Sands is right there — long, flat, reddish sand with the pier in the middle — and the pier itself is free to walk onto.
Preston Sands at the northern end is the better bet later in the day. The Boathouse sits right on it with a sun-trap beer garden looking across the bay, and the parking round there turns over more slowly.
Paignton harbour is small and the parking around it is limited, but it is worth the walk rather than the drive — Harbour Light is the best-rated pub in the town, over two floors right on the water. Fairy Cove is tucked behind the harbour, shaded with clear water and rock pools, and most visitors never find it.
Paignton has a mainline station and it is a short walk from the seafront, which makes the parking question optional. It is also the terminus of the Dartmouth Steam Railway to Kingswear, so you can arrive by train and leave by steam.
Paignton is a short level walk from its station — see Devon beaches you can reach by train.
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