Buying a Used Car in Canada

Buying a used car could be tricky business in Canada. There are many questions you need to ask yourself become running out and looking at cars. Do you really need a car? How often will it be used? Does the fuel cost, parking cost and all the other fees fit into your budget?
Many people in Canada simply rent a car when needed. This gives them the ability to save when they don’t need a car and maintenance is not their problem. This means they get to drive when they need to and only pay for fuel and parking when needed. Sure the car also comes with a fee, but usually this fee is rather small unless you take an expensive car.

Buying2Finding your Car

There are many dealerships around Canada to choose from and all of these have different deals on the cars they provide. Be sure to visit a few of these dealers and also have a look online at various cars available. Most dealers usually include some type of add-on to the package. This would usually be rust protection, paint protection, extended warranties and more.

It will depend on the conditions you drive in and where the car stands before you can choose one of these options. For example, there is no point to take paint protection over an extended warranty if you will be parting the car in a garage and park it under a roof at work. The warranty might be better for you.

Get you Price

There are a few ways to check the value of a car. The best way would be book value, which can be accessed online. This will give you the average value of a car depending on the year model and millage. Keep in mind that this system has no idea what the condition of the car is. So if there are dents or scratches and the dealer is asking more than the book value, it might be good to find out why. Otherwise, be sure to use this as a negotiation point.

Cash or Lease

Obviously the cash option would always be the best. You save massively on interest and there is no need to apply for anything. However, in today’s life there aren’t many people who can take out cash for a decent car, which is exactly why the lease option is available. When choosing a lease be sure to check every detail, try to get a lower interest rate, which would decrease your monthly payments or the term. Also try to pay off the car as soon as possible as it saves you on interests, which means you get the car for less at the end of the day.

Additional Questions and Checks

There are a few things you need to ask the seller (even a dealer) and if you find they cannot answer you, assume the worst to be safe. Why are they selling? Where were the services done for the car (check service book)? Are they willing to take the car for an assessment?