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3 Great Reasons to Buy a Used Car in Ontario

3 Great Reasons to Buy a Used Car in Ontario

Canadian car-buyers who are looking to stretch their car buying dollar should maybe buy a used car instead of new.


While there is no denying the smell and feel of getting behind the wheel of a brand-new car, a “new to you” used car can check all your boxes and save you some cash in the process.


Selecting the right make of used car


Most people consider a used car means a “junker,” but that is not the case. Used cars come in a variety of conditions; if you bought a used car from a private seller you found on Kijiji, you could be asking for trouble.


However, if you buy a used car from a reputable local dealership, you could be getting a great vehicle at a bargain price.


Since we are on the topic of prices, the used car market in Canada has started to stabilize, used car prices were, for a time, rising faster than new car prices, but fortunately, that trend has started to abate.


The upside of owning a used car is the vehicle will preserve most of its resale value going forward.


Depreciation has the most profound impact on a brand-new car; the moment you drive a new car off the lot, it will take a massive hit, thanks to depreciation.


The challenge for you is to pick a brand that maintains its value over the long term, like a Ram 1500 Pick Up truck, you are going to have a reliable vehicle that can handle whatever you throw at it with ease.


Then, when it comes time for you to sell the truck, you will have no problem finding a willing buyer.


Securing the best terms on a used car loan


Lenders are eager to issue new loans before the Bank of Canada jacks up interest rates again, making it more expensive to provide car loans.


When interest rates rise, lenders also tighten up their underwriting process, so you will need a higher credit score to secure the best terms.


The best way to avoid this hassle is to move forward and try to secure a used car loan today.


Who has the best-used cars and terms available in Canada


While shopping online to buy a used car seems like a good idea, you should only deal with local dealerships that you can visit in person.


By visiting the dealership, you will be able to meet with the sales representative and test-drive the car itself.


There is absolutely no substitute for sitting in the car, getting a “feel” for it, and heading out on the highway.


The dealership will also get to know you as a person and take a vested interest in helping you get a great car loan.


By adding this human element to car-buying, you will be able to get the used car you want at a great price, so reach out to your local dealership today and start test-driving their cars.


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

Categories: Auto Loan

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