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How to Buy a Car as a New Immigrant to Canada

How to Buy a Car as a New Immigrant to Canada

We may be biased, but we think Canada is the best place to live in the world. It has the geography, the culture, the stability and the financial success to help anyone, from anywhere create a new life. You will need a car to make the most of Canada though. Which is our topic for the day. We asked our Campbellville auto loans team how to buy a car as a new immigrant to Canada.

 

Buying a car in Canada

 

The actual car buying process is very likely the same as in your home country. Dealerships work in much the same way, auto loans work similarly, cash sales will be the same and car ownership will have the same benefits and pitfalls.

 

How you get there may be a little different though.

 

Canadian driver’s license

 

Before you can drive and buy a car as a new immigrant to Canada, you’ll need a Canadian driver’s license. Your old one won’t be valid as you’re not a tourist so you’ll need to get one as soon as possible.

 

You’ll need three official forms of ID and an official document from your original driving license authority to get your Canadian driver’s license.

 

You’ll need the license to be able to get car insurance and to register a vehicle, both of which are mandatory here.

 

Buying a car in Campbellville

 

Financing a new car depends on your current situation. If you put money aside to buy a car, you can buy with cash privately or through a dealership.

 

If you don’t have sufficient funds to buy a car outright, you can use your cash as a down payment and use an auto loan to pay for the rest.

 

As you’re new to Canada, you won’t have much of a credit score as you have to start over. Some banks and lenders run special programs for newcomers to Canada so you can still access finance if you need to.

 

We can also help with that.

 

We recommend setting the groundwork before applying for an auto loan. That means asking your landlord to mark payments on your credit report, using utility companies that do the same, getting a phone contract that also marks payments, getting a credit card and using it regularly.

 

The more entries you have on your new credit report, the faster your score will improve and the faster you can access the best rates for auto loans and any other form of finance you might need.

 

Our team are experts in car finance and in helping newcomers to Canada. As a well-known dealership chain, we can also secure you a great deal on a car to buy too!

 

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

 

For any questions or concerns, please don't hesitate to contact us here!

 

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Categories: Auto Loan

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