Making timely payments every month is a tedious obligation for adults to fulfill. Especially when we’re talking about car loans, the most common method to purchase new and used cars alike. However, things never quite stay stagnant, it’s likely that after a few years you might be thinking about changing things up, or even just attempting to refinance your auto loan for a better interest rate. However, there are few options you can take aside from the two as well. When you’re talking about a serious investment like a car, you should also count all your straws beforehand. That said, it essentially boils down to this – your vehicle’s estimated worth. What’s your next move depends on this. Negative Equity Auto Loan To begin with, if you have negative equity, or colloquially known as an ‘upside down’ loan, maybe maintaining the status quo is the right thing to do. Negative equity is when your car’s trade-in [...]
What credit score do I need to apply for a car loan in Cambridge Ontario? Under 500 only means you’d probably not qualify for a juicy car loan interest rate, however, though, this doesn’t mean you’ll not get a car! If you’re worried that your bad credit will keep you away from getting a vehicle in KW, then you’re dead wrong. According to the reports made public by Experian at year end 2017, the ideal credit score for new cars was 712, and 654 for fairly-used cars. You’d be surprised to learn that nearly 20% of car loans went to people with <600 credit scores. Statistics of car loan rates in Canada Someone with a 700 score would probably see a 5% auto loan rate on a used car compared with a 15.1% rate for someone having a score below 500. A 5-year loan of $20,000 gets you a $483 monthly payment compared with $378 [...]
First impressions mean everything, so showing up in a nice company car, lets them know that you mean business. Many business owners are leasing cars for business use. Leasing cars have been gaining popularity with the appealing monthly costs and the capability to change cars repeatedly to keep up with new technology and safety features.
Length of ownership is one of the most important factors to consider when leasing a company car. Many business owners and employees put a lot of miles on a car, therefore will want to turn the car in sooner, making a lease for business purposes a better deal than buying.
Mileage is also an important cost and must be factored in when considering a business lease since company cars typically get more miles on them than personal use cars, which ends up increasing costs.
The total cost of the car must be calculated when trying to figure out if you [...]
How do you make the decision between leasing or buying a vehicle?
To make the car buy vs lease decision is difficult because so many factors are affecting your life right now and cash flow is often the most pressing and demanding factor.
Leasing can often mean your monthly payments are lower, and you only need a low, or no down payment, and those are powerful incentives, but it’s a good idea to look at all the differences between the buying and leasing, to be sure it’s right for you in the long term.
Car leasing is attractive as it can get you a higher-priced, better-equipped, vehicle than you could afford to buy, and often a later model, so it may still have the manufacturer’s warranty. You get to drive the vehicle for the most trouble-free years of its life, then hand it back to the dealer. Then you can either lease a newer car [...]
Need something rugged and work-ready? Pickup trucks are no doubt within your agenda. And if we’re talking about pickups, the iconic Dodge Ram should at least be considered. With the fifth-generation just introduced into the market, you can certainly score deals on used older, but still reliable fourth-generation models.
The fourth generation runs from 2009-2018, and the used Rams models we sell are predominantly certified 2011-2018 Ram 1500 models with some 2500 as well. The prices range from $18,000 to $30,000, depending on what kind of pre-owned Ram you want, and trim you opt for. In general, though, you can expect them to share a similar underlying road manner that may surprise you.
If you are near Kitchener Waterloo and love muscular looks, you’ll be enthralled by our Ram lineup that’s full of brutish and bold lines. While pre-owned Ram pickups are seemingly designed with only a pen and ruler, it somehow works well together, [...]
A car purchase is one of the biggest financial dedication you can commit to, thus it is imperative that the process goes as smooth and as trouble-free as possible. A pivotal aspect that can often be overlooked by consumers is the reputation of the car dealership that you’re working with. After all, they’re going to be the ones that are handing over the keys to your dream ride, and in a market where it’s entirely possible, and common, for the consumer to lack knowledge regarding the subject, unscrupulous dealers can easily connive to exploit the uneducated.
While it used to be quite tricky to sort out the reputation that your choice of the dealership had, considering that transparency and honesty are quite far down the list for most dealers back then. However, it’s less common nowadays because of how easily accessible the Internet is which makes scrutinizing a dealership a relatively pain-free process. Now, as [...]
A car purchase in Canada takes dedication financially and mentally. It’s less of a bother for folks who’ve had plenty of past experiences in buying cars, as they’re familiar with what to expect, what to do, and what are the systematic procedures that constitute a car purchase. However, for young adults that’s sheepishly approaching their first used car purchase, it’s a daunting endeavor. That’s perfectly understandable, considering it’s a big chunk of financial investment for most people living in the Kitchener Waterloo area. However, there are a few novice mistakes that can often be averted by taking your time which will help ease the process, and here are a few common errors we’ve noticed just for reference.
Doing too little research
One of the biggest oversight Ontario buyers often commit is underestimate the amount of research they have to do. If you spend the time and look around, there will certainly [...]
A lot of students in Cambridge, Kitchener, Waterloo, Guelph or Hamilton find life much more comfortable when they’re able to secure a car for themselves. It’s a good thing lot of lenders are effortlessly working on processes that’d make obtaining car loans for students in Canada easy.
As a student schooling in Ontario, follow these simple steps to increase your chances of qualifying for an auto loan. As usual, before applying for a car loan as a student in Canada, you should do your due diligence, and these tips are here to guide you if you follow them religiously.
Step 1 – When you’re preparing for your car loan application as a student in Canada, it’s essential to keep in mind that these lenders are going to ask you of the full proof of your student enrollment. In fact, a majority of lenders place an age restriction on the kind of student that can apply [...]
Unless you live in a place where public transportation is effective and convenient, you still need a car. Most millennials want something trouble free, but interesting to own and drive. There are definitely used cars out there which are intriguing and priced justifiably for young people looking to buy their first car.
Chevrolet’s recently introduced compact car, the Chevrolet Cruze, can be a good choice to someone looking for a handsome looking small used car. There are two generations available, with 2016-2017 models starting at around $15,000. The 2014 facelifted model offers a sharper, smarter face, and also a new diesel engine. A 2014-2015 used Chevy Cruze LT with the Technology pack would be what you want though. It’s available at a good price point with Chevrolet’s 1.4-litre turbocharged Ecotec which offers respectable performance with good economic figures. The Cruze has been particularly praised for its poised handling too, with an interesting interior [...]
Finally, you’re settling down, and have a family of your own. You begin to bear the responsibility of supporting your children. Now you need a vehicle that can move the little ones around Kitchener-Waterloo, and maybe their friends sometimes, without forsaking practicality. The answer? MPVs, or minivans. A decade or two ago, these were dreary, but now, for under $20,000, you can easily find an exemplary used minivan that won’t constantly leave you yearning for sedans or coupes.
Dodge Grand Caravan
As the name aptly indicates, the Dodge Grand Caravan is Dodge’s (or Chrysler’s) interpretation of a luxurious used minivan. Basic 2014 SE Grand Caravans can be found for $15,000 while stretching it to $20,000 can net you a 2016 SXT Grand Caravan. Both will be 5th-generation models with little differences barring equipment.
Still sporting Dodge’s iconic ‘crosshair’ grille, the Grand Caravan dons a tastefully understated, if uninspiring aesthetics. You’ll find [...]