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Right Now is the Best Time to Finance a Car in Puslinch

Right Now is the Best Time to Finance a Car in Puslinch

If you are sitting on the fence deliberating on whether to buy a new car, now is the time to take advantage of super-low interest rates. Our Puslinch auto loans team explains why now is the best time to finance a car. Even though it might not seem ideal, the time to buy is now!

 

Dealerships are upping their game

 

Dealerships throughout Canada are under pressure to hit their sales targets even if there is a pandemic hitting the economy hard. The dealerships are armed with incentives to attract buyers like you to their lot and strike a deal.

 

Accessing 0% auto loan financing

 

One of the most attractive promotions is 0% auto financing for buyers that have good credit.

 

If you are wondering what is considered good credit, aim for a score over 700 and you should be in good shape.  Get your free credit report by heading over to TransUnion or Equifax and find out whether you qualify.

 

If your credit score is under 700, it does not mean you cannot get your Puslinch car loan financed. The dealerships have access to a large network of auto loan providers across Canada, so you should be able to get your car loan approved.

 

Each credit reporting agency has its scoring matrix so bear that in mind when you are trying to qualify for financing.

 

The dealerships have a great relationship with lenders and can help plead your case on why you should be approved.

 

You may be wondering why a dealership offers 0% interest loans? The prime interest rate has never been lower in Canada, and carmakers can access these funds at a very low rate.

 

What the car manufacturers do is keep the retail price of the car high so they maximize their revenue since they are not able to get anything from the financing.

 

Are you able to prove your income?

 

Having a good credit score is crucial to getting an auto loan, you also must be able to provide evidence that you make enough money to repay the loan in full.

 

The only way you can satisfy this requirement is by showing the lender copies of your salary slip and bank statements if you are self-employed.

 

You should have no problem printing these documents online and giving them to the salesperson at your car dealership.

 

Finding a suitable car

 

There has never been a better time to buy a new car in Puslinch but you have to pick the car that best suits your requirements.  Do you drive a lot for work? If so, then you might consider buying a hybrid or car that has great gas mileage.

 

The fuel economy is important, especially with gas prices on the rise. You should look for a car that will be reliable throughout the years. Ford has a reputation for producing some of the most reliable cars in the world.

 

Getting an extended warranty

 

Most new cars come with a 5 year, 100,000km warranty, at the time of purchase you could take advantage of an extended warranty. These warranties may increase your monthly payment but will be worth the money if you have a critical component fail when the basic warranty expires.

 

It is the best time to finance a car in Puslinch, but the clock is ticking so make it a point to visit your local dealership and take advantage of these once-in-a-lifetime low-interest rates!

 

We will use all our skill and experience to deliver the lowest possible Puslinch auto loan rates, guaranteed. Contact Car Nation Canada Direct to learn how we can help.

 

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Categories: Auto Loan

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