After all the grueling and tedious research you’ve done, browsing through a wide range of cars from different used car dealers, you’re at the final stretch and undoubtedly, auto financing is still the most popular way by far, so acknowledging how down payments work can help you budgeting for your next car.
The concept of making a down payment is easy. While some people often can’t bare the upfront cost of a new car, paying part of the total sum is possible. This also serves as reassurance for the creditors, which could potentially decrease the interest rate of your payment.
It is worth noting that it doesn’t have to be cash upfront though. Down payment can also be an equity you own that can cover part of the cost of your newer car. For car dealers, this often translates to your current vehicle, as most dealers out there do accept your old car as trade-in. [...]
For prudent consumers, buying used is a method to save money, and the same applies to cars. However, you can always save a bit more money on your purchase. And when you have the flexibility of a dynamic, moving market that’s untied to MSRP, being smart can not only save you money but also avert potential headaches in the future.
Even then, saving money can also be categorized into two types, one being short-term, where you cut the costs down during purchase, and the other being long-term. While short-term savings are important, long-term savings are absolutely crucial for a car and towards sustainable ownership unless you’re not concerned with keeping it for long.
Again, whether if you’re buying new or used, being prepared can only be beneficial for your ownership experience. If you know what to expect and anticipate, you can grasp a good idea of which car is actually appropriate for your [...]
If you’re a car buyer to Canada, and you’re looking for a car as a means of transportation, it can be a daunting ordeal. People assume that the automotive landscape is similar to the States, and while that is true to a certain extent, Canada possesses a rather unique, distinguished market itself.
However, a car is nevertheless imperative to travel around Canada. An affordable and reliable car will serve you well down the line, and here’s a list of cars that fit the criteria and also shifts quickly on our lot.
1. Ford Focus
A classic household favorite, the Ford Focus is an icon. It’s hard to go wrong with one regardless of which part of the world you’re living in. It abides by the quintessential aspects for a compact that appeals to the masses while incorporating Ford’s own vast know-how in car-making to produce consistently praiseworthy results.
Certainly, there have been multiple revisions and [...]
Buying a car is a daunting experience, especially for first-timers. However, once you understand the process behind it, especially once you comprehend the whole procedure behind car loaning, it can be a thrilling and rewarding experience. Loaning a car can help you afford cars that you might not be able to otherwise, but it is important to apprehend the process behind it before you get enthusiastic about car shopping.
What a car loan is, in essence, is basically borrowing someone else’s money to purchase a car. You then pay back that money on an installment, but with interest serving as the fee for borrowing the lump sum. Of course, if you’re talking about a beater you can generally pay for it directly with cash. But when we’re mentioning a lightly used modern car, financing it through a loan will be one of the best method to pay for the car.
For Kitchener-Waterloo car buyers, new cars aren’t always the way to go. In fact, for the common folks, in most cases, it’d be better off for them to look at the used market instead. Some of the advantages of purchasing new are obvious and needs little reiteration. However, before delving into the car market, you might want to know why you should avoid going new.
1. Higher Upfront Cost – Comparison
Obviously, the biggest con there is to buying new is that you’d be buying something new. New cars almost always cost more than their used counterparts, other than in some extremely specific cases. In fact, for models that aren’t receiving a major update anytime soon, you’d be better off just looking for 1 to 2 years used models and end up with a better trim package than you’d muster from a new model.
Eminently, the argument that can be made here is the fact [...]
Researching a car before the even taking a look at in person is an important part of any car purchase, and it’s especially more so when we’re talking about used cars. When you’re actually talking about a car that you intend to own, it’s not all about reviews, ownership plays a major part too. Thus, there are some tips that you should acknowledge to help you better utilize your time researching any used car models.
1. Understand Your Car Needs
First, you should know what car do you actually need. Think about this holistically, and it’s also prudent to prepare for the future. How many passengers do you need to seat? Is it a car for grocery runs? Is it supposed to be a working vehicle? Do you want a toy for the weekend? These are all questions you should ponder on before looking for cars. For example, If you’re planning to start a family, [...]
Financing options are quite wonderful indeed, with the advent of credit loaning, it has enabled people to be able to afford something they otherwise wouldn’t be able to. However, it’s doesn’t take much to garner a bad reputation among loaners, i.e. have a bad credit score, just because of an unforeseen circumstance such as a shock medical bill. And it’s much trickier to recover from a troubled credit score. Still, there are ways to claw back your credibility, and here are some practical methods used when you finance a vehicle.
Understanding your credit report
Of course, before you can actually improve your credit score with a car loan, you need to know what’s your credit standing. The three digit score is all you need. While you can opt for the traditional method of mailing which requires some patience, with a small fee you can receive an online report immediately. Refer to the online portals of [...]