Buying a car is an important decision in our lives and a major financial commitment. If you’ve done your homework well, things could take a turn for the worse. The problem with buying a used car is that there are too many snake oil salesmen trying to sell cars that are way out of our league. Here are three questions you should ask before you choose to buy a car from used car dealerships in Halifax.
Is the car inspected?
Before you buy a used car, remember to ask the dealer if the vehicle goes through a detailed inspection. Remember to read the inspection report to check the exact mechanical condition of the vehicle. Check if the car is likely to incur repairs in the future. Sometimes, cars sit on the dealer lot for a very long time. Even if the dealer offers an inspection report, make sure to check for recent work done on [...]
Living with bad credit is difficult, but not impossible. You could end up paying more for your car insurance or having to put down a higher security deposit for your rental home. But this isn’t the end of the road. While you cannot set things straight overnight, there are a few purchases that can slowly but surely help to get your credit score back on track. Buying a used car is just one of them. Here’s how financing a car can help:
It helps to improve your payment history:
A good payment history is one of the key factors affecting the credit score. The more payments you make on-time, the better your chances of earning a good credit score. What better way than a car loan to prove to lenders that you can make payments on time! The best thing about paying your car loan on time is that it stays on your record for [...]
Every year, roughly 300 new models of cars are offered for sale on the market in Canada. If you’re looking for a bit more variety, the used car market could be your best option. If you plan to purchase a used car, consider the below 4 factors, this will help you score a good deal.
Used Car Financing:
Determine your monthly budget and make sure the vehicle fits within that. Generally, interest rates are higher for used cars. A rule of thumb is the newer-used the vehicle is, the lower will be the interest rate. Shop around for the profitable deal by comparing interest rates and terms from banks, dealers and finance companies.
Certified Used Cars
Many dealers offer certified used cars for sale through their manufacturers. While they ask you to pay a small premium, it’s often worthwhile. There will be benefits like low interest financing, free maintenance, and a more comprehensive reconditioning program.
Average Canadians pay around 20 percent of their take-home pay to drive a new car! In fact, in some age groups, spending on cars has taken precedence over saving. It’s hard to resist the smell of a new car, isn’t it? But why would you spend an average of $35,000 – $40,000 on a new car when a used car sells for half that amount? Here are a few reasons to buy used cars in Halifax:
Cars are a necessity and not a luxury:
Most of us use cars to get to work, to take the kids to school, or go grocery shopping. In other words, cars are an indispensable aspect of our lives. They’re there only to serve a purpose – the extra thousands of dollars you would pay for a new car is unlikely to make any difference to your routine.
Value for money:
We all know that a car loses value immediately [...]
Buying used cars inHalifax is a financially wise move, but a complicated proposition if you don’t plan properly. You don’t want to end up spending thousands of dollars on a lemon. Here are four things you ought to know before shopping for used cars:
Refine your search:
Used car dealerships love customers who aren’t sure about their purchase. They could try and get you to buy a more expensive vehicle. Or, if you have a trade-in and are looking for a certain price for the car, they’ll pay what you want, but raise the price for the vehicle they’re selling! Before you even begin your search, write down what you want: the features that you cannot do without, or the mileage, budget, etc. Look for a car that fits your description, and shop around to compare prices. Go through online inventories and classified ads so that you have a better idea about the general [...]