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What you need to know about buying new cars in Niagara Falls

What you need to know about buying new cars in Niagara Falls

Even if the economy is still sputtering, there are hints of improvement, which is encouraging if you're in the market for a new car. These tips from our Niagara Falls auto loans team are useful no matter what part of Canada you call home.

Do you make enough to pay for a new car?

We need a car to live in Canada; this is not a matter of want but need. To go anywhere in this massive country, there is no viable public transportation, so your best and frankly only option is a car.

To most of us, having a car payment is just a fact of live, like death and taxes, but even if you work hard, it does not guarantee you can afford a new car, the only way you will know whether you can actually afford a new car or not is by working out your budget.

Seeing beyond your budget

Cut out non-essential expenses to save money if your budget doesn't allow for it. In the event that reducing your spending doesn't leave you with enough money, you'll need to look for alternative sources of income; working a side hustle is something that most Canadians do with pride.

You could pick up shifts with Door Dash and use some of the operating expenses of this business as a tax write off (we are not tax experts, so speak with your tax professional for advice).

Without a good credit score, it can be tough getting a car loan

Your credit score should be over 600 if you even want to be considered for a Niagara Falls car loan. If your score is under 600, you will not qualify for a new loan, and your only option would be to purchase a used vehicle.

You can find out your credit score by subscribing for free with services like Credit Karma and Koho, so why not sign up now.

Selecting the right vehicle

Working on the assumption that you have decent credit and good income, you should seriously think about making the switch over to an EV. You may feel some initial hesitation because of the vast amount of misinformation that is being spread online.

There are a few important reasons why you should consider buying an EV; for the sake of time, we'll stick with the most critical.

  • Never having to worry about gas prices again. If you are like most Canadians, you cringe every time you need to stop in to refill your car. With an EV, that is never a problem.
  • EVs do not require any serious maintenance; compare that to all of the oil changes and other maintenance your gas-powered car goes through, and you can see why an EV is a great option.
  • Securing the best possible financing and rebates on your EV by working with a dealership in your community.

There are government rebates and incentives available when you make the switch to an EV. To access these benefits, go through a dealership in your area. The dealership will help you with filling out all of the necessary paperwork and getting a great deal in the process.

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

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