The way of buying a car in Canada, whether new or used, has certainly evolved over the years. We are all familiar with the traditional way through a dealership, albeit rather painful at times. The arduous task of visiting car dealership after car dealership, dealing with multiple cheesy salespeople, and the dreaded financing compile the stress of getting a new car. There is an easier way and, frankly, makes the whole car buying process, dare we say, enjoyable. When you're buying your next new car, whether online, at a dealership, or through a private seller, some documents are required to complete the transaction.
Tips when Buying a Used Vehicle
There are a few things to consider before we get to the paperwork and documents needed to purchase your new vehicle as you're shopping around. First off, remember there are many options on where you can buy a used car. Lots of dealerships (ugh) have pre-owned vehicles, private sellers (tread with caution), and online platforms. That's where we come in. Welcome to FFUN Cars, where you can have the best of buying from a dealership and online because with us you can buy your car online, in-store, or a combination.
Before making any big purchase, it's always good to know what you can afford. When it comes to buying a vehicle, getting pre-approved ahead of time can save you time once you've decided on a car. If you're looking at getting a car loan from your bank or credit union, they can run your credit report, take your down payment, and determine what you qualify for and what your monthly payments would look like. They may require additional information other than a credit report, such as a pay stub and current monthly expenses. Or, there's another way to get approved, shop within your price range, and purchase a used vehicle. You guessed it, FFUN Cars. You can get approved in two minutes and buy your car with us! You're welcome.
Once you've established what you can afford, you can determine what form of payment you plan to use—onto the fun stuff, shopping for used cars. Make sure the vehicles you are looking at meet your needs. i.e., is it for going to work or to tote the family around? These are all important considerations as you search for your new car.
The fuel price is crazy these days, so we recommend researching what the fuel efficiency is like. You can't forget the most important thing to know before finalizing a car purchase, determining its value and what the purchase price should be.
Documents and Paperwork For a Quick Completion
When you buy a used car or new car, it's more than giving someone your money, and in exchange, you get the keys to a vehicle. You need certain documents to finalize the purchase and make the new car yours. Some of the following items are pretty well known and others not, especially if you are a first-time purchaser of a used vehicle.
After looking at car after car, you've finally found something you like. Please (like pretty please) do your due diligence to get all the vehicle information. It's easy to get excited about your potential new ride and want to test drive it to take that final step towards car love. Pump the brakes (figuratively speaking). Get a CARFAX report. By getting this very valuable report, you can verify that no payments are remaining on the vehicle and that there are no unreported accidents, or if it has been used as collateral with another lender. It also provides you with a full vehicle history report and vehicle registration information. It's easy to get, you just need the vehicle identification number (VIN), and you're on your way to getting all the information you need. Have peace of mind with your new car.
As you go through all of these steps, ensure the VIN is registered in your province. If it isn't, there might be some additional steps you need to go through to make sure it passes inspection before an insurance company will insure it. Many car buyers forget to do this step.
If you are looking to buy a used vehicle online, it is highly recommended that you take the car you are considering for a pre-purchase inspection. By doing this, you will be well aware of any possible repairs it needs, which can play a factor in your purchase price. Remember, Canadian private sellers and some car dealers don't have warranty packages for the motor vehicle(s) they sell.
Okay, the vehicle has made it through the checklist of things to look at before buying it. Great! Have you considered what you plan to do with your current vehicle? Buying your next car from a private seller eliminates a trade-in option. But, buying from a Canadian trusted car dealership (hint, FFUN Cars), there is the option of trading in your current vehicle. It's easy, all you need is a little bit of information, and FFUN Cars will provide you with a market value offer. Trading in your car will lower the car loan amount, which could possibly change the interest rates available.
It's time to get an insurance policy in place, and your local auto insurance broker can do it. To do this, you will need the original vehicle registration and, if buying privately, a transfer/tax form to be completed by you and the private seller. It's a no-brainer, but we gotta say it, you need a driver's license to insure a vehicle under your name.
Wow! Lots of information, we know! Buying a used car online, especially privately, is tons of work. It doesn't have to be. You can shop for your next vehicle with us, and we've taken care of everything. You just need to pick your car, complete the transaction, come pick it up, or wait for it to be delivered, and give a few signatures. Easy peasy.
