It seems in Canada since the start of the pandemic that everything is rising in price these days; gas, houses, groceries, and now used vehicles, but that doesn’t mean there aren’t good deals to be had when buying a used cars whether through a used dealer lot or a private seller. It’s a matter of knowing how to get the best car deal within the used car market. Suppose you are considering buying a used car over a new vehicle. In that case, you’re probably wise, as with used cars, you instantly save money as the depreciation of the vehicle has already been accounted for.
Years back, it seemed the best time to get a good deal on a vehicle with the best interest rate was either at the end of the month or the end of the year when dealerships were desperate to meet their quota. That may still be true in some situations depending on the car dealers and what they have available on their car lot; however, you can do some other things to ensure you’re getting the best price on your new car, well, new to you.
Do Your Research
There is no reason you can’t do research before visiting car dealerships. Take advantage of the fact that you can do every part of buying a used car, other than the actual transaction, online. As part of your research, determine what kind of car you are looking for. If vehicle price is one of the most significant factors for you, make a list of the wants and needs of your next vehicle. By sticking to what you need and not wavering from that list, could save you lots of money and lower the amount of an auto loan you need.
While researching, remember sticker price isn’t everything. Okay, yes, it matters, but look at what you are getting (or not getting) for that car price. To ensure the vehicle is affordable for you, don’t focus on monthly payments; concentrate on the car’s total price and don’t forget to account for car insurance as a cost of owning a car. Be aware there are many scammers out there, especially private sellers, so be mindful of these situations. A car purchase is a big deal, so take the time you need and don’t rush. Consider certified pre-owned, as you know you won’t be getting a lemon. It’s easy to get excited as a car buyer and fall in love with the first vehicle you see; try to remove emotions from the car buying experience. Salespeople love to play on emotions, so be watch out for this.
When doing your research, whether online or in-person, always get a vehicle history report such as CARFAX. Part of getting the best deal on a used car is knowing what you are buying and how it drives, therefore you need to take it for a test drive. Knowing everything about the vehicle you are considering, from what potential repairs could be, to the added features, will help when it comes to negotiating a lower price.
Get Approved
Before visiting a car dealership, do yourself a favour and get pre-approved for an auto loan. Knowing your budget will help you keep your focus on vehicles you can afford. When determining the maximum amount you qualify for, talk to a dealership about the trade-in value of your existing vehicle. Pro tip: Don’t mention a trade-in until the end. Salespeople love using trade-ins as a tool of manipulation. Be wary of this tactic.
To get the best car for you at the best price that will serve you for years to come, consider automakers known to carry longevity with their names, such as Honda or Toyota.
Here are a few quick, simple tips:
- Be strategic in your car shopping
- Don’t let the car sales professional fool you
- Patience is key with any large purchase
- Never be afraid to walk away; there will always be a good deal to find
- Be flexible on the type of car you want
FFUN Cars is about putting its customers first, always! They are your go-to for used cars in Saskatchewan with car experts and finance experts and car lots full of excellent used cars.
