One of the key factors to consider is whether you should buy a new or used car. There are pros and cons to both.
If you want to (and have the money to) purchase a car that comes with all the specifications exactly how you want them, with the right combination of options, colors and gadgets, then you can get a new car made to order. However, be aware that new cars depreciate in value the minute that you drive them out of the showroom. With a used car, you don't have to worry about this.
A used car is going to be less expensive, and therefore a much more suitable option for many people. Buying a used car can also allow you to step up to a better model.
Your insurance rates will vary depending on the age of your car, but typically, used cars tend to have lower rates. A little bit of research before you purchase will save you from any nasty insurance surprises, no matter which car you choose.
Making the purchase
Nowadays, not many people have the luxury of being able to buy their car outright, so opting for finance is the more realistic option. If you opt for finance, it's key that you get access to the most competitive used car loan rates. This is where Canada Car Loans can help.
Canada Car Loans is an online car finance specialist. We compare over 300 loan products with 15 lenders, giving you access to the best used car loan rates. In fact, our used car loan rates start from as low as 3.49%.
You might also find that having the cash up front for a down payment is too much. Canada Car Loans can help with that too. Of course, we would encourage a down payment if possible, as this would decrease the sale price, and in turn decrease your monthly repayments, however, in most cases no down payment is required.
Canada Car Loans is a completely free service for Canadians, no matter what your credit history. We work with a variety of different Canadian lenders to offer you the best used car loan rates (and new car loan rates too). There are no hidden fees and no obligation. If your credit rating isn't great, we can help you with credit score optimization and credit score boosting.
If you've been refused credit elsewhere, Canada Car Loans can help. We have programs to suit people with bad credit, good credit and no credit at all.
We have relationships with reputable dealerships across Canada who are willing to assist your car purchase regardless of your previous credit history. We have helped thousands of Canadians purchase their next car. We are happy to approve applications where others can't, and we always give access to the best used car loan rates. So why not give us a try? It's free.