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Great Strategies for when you Buy a Car in Oakville

Great Strategies for when you Buy a Car in Oakville

Everyone wants a bargain, and, if you are in the market for a new car then our strategies will help you save money without sacrificing quality. Our car loans team outlines a few effective strategies that can help save you money and time when you buy a car in Oakville.


Carmakers and dealerships are eager to get your business


The pandemic has decimated the auto industry, with a lack of computer chips to build replacement components and new cars.


It is a tough time to be in the car industry but there has never been a better time to be in the market for a new car.


The immense pressure to hit quotas


All the major carmakers have shareholders that they must answer to. The first thing that shareholders will look at, is the total number of cars that were sold in a quarter and year.


While the shareholders will be reasonable and allow some flexibility due to the pandemic, if they compare the sales against other carmakers and notice the numbers are not competitive, the management for the carmaker will end up out of a job.


Since the pressure to sell trickles from the top down, the carmakers will apply pressure on their dealership network to sell cars.


With a common goal of hitting their sales targets, the dealerships and carmakers will come up with creative ways to attract qualified buyers.


A qualified buyer has both the desire (marketing helps create the desire for the car in the mind of the buyer) and the capacity (Oakville auto financing gives prospective buyers the ability to buy now and pay later).


The dealerships will either partner with the carmaker's finance provider or seek out alternative lenders to underwrite these auto loans.


Interest rates at record lows


Everyone knows that interest rates are at all-time lows.  Whether you are looking to buy a car in Oakville or refinance the current auto loan you have, now would be a great time to take advantage of this opportunity.


How to access these super competitive interest rates


The initial step is filling out an application at a local car dealership. Once the dealership has your basic information, they can get a copy of your credit score and determine whether you qualify for prime or subprime financing.


These dealerships have relationships with lenders all across Canada, so you have complete peace of mind knowing that you are going to get the best possible deal.


You can also speak with the folks in the finance department to find out how you can improve your credit score. These credit experts have a considerable amount of knowledge when it comes to underwriting auto loans, so you will benefit greatly from their insight.


We saved the most important step for last, which is test driving the car you like. After you have worked out what your maximum budget is, you can now go for test drives until you found the car with all of the features you want.


When you have finally selected that car, you can simply sign and drive it home.


Since buying a car has become very simple, you should have no problems finding a great car provided you are working with a great local car dealership.


We will use all our skill and experience to deliver the lowest possible Oakville 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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