Not everyone dreams of a brand-new car. Many drivers prefer to buy relatively new second-hand models at lower prices and with easier consumer financing. As a useful costly option between under-warranty new and buyer-risk second-hand cars, some dealerships offer certified pre-owned vehicles.
Typically less than five years old and with 800,000 kms on the odometer, these smart buys are often trade-ins from lease customers upgrading to a new model. This is a great choice for anyone wanting all the advantages of a used-car, without too many of the drawbacks.
Used Car Financing Options
Generally speaking, there are two ways for Canadians to finance better-quality used cars with less than 80,000 kilometres on the clock, and under ten years old. The easiest way is through the car dealership, or else through a bank, particularly for account-holders.
Either way, auto financing approval depends heavily on your credit history. However, auto financing is basically available to [...]
It’s hard to believe, but the Nissan Micra has been around now for three decades. One of its models was voted Car of the Year, way back in 1993, so it has a lengthy pedigree underpinning its renowned reliability.
Designed as a low-cost world car from 2013 onwards, it proved a hot favourite in emerging markets. For easy driving, it rivals other long-term top sellers like the Renault Clio, the Vauxhall Corsa, and the Ford Fiesta.
Distinctive, efficient and light to handle, the Micra was sold in 160 different countries, making it a real international hit. Its manufacturing history is just as cosmopolitan. Initially built in Japan and the UK, Micras have been built at the second factory in India since 2010.
With a bold design, it sits on the Nissan V Platform. In turn, this is a development of the Nissan-Renault B Platform that once supported earlier generations of the [...]
New arrivals soon realize that they need their own transport to get around comfortably in Canada. However, accessing auto loans can be a tricky process, where a helping hand can make all the difference. Some car financing firms have teams of specialists who can steer you smoothly through the loan approval process. But before reaching out for financial assistance, make sure you have the necessary documentation lined up, for faster financing approval.
Here’s what you need to know:
A Canadian citizenship card, which is issued by the Government to confirm your residency status. It may take over a year to process your request (which is not an application for citizenship), which must be properly completed and supported by the correct documentation. This may include a copy of the personal data page of your passport or travel document, a permanent residency permit, a health insurance card, and a senior citizen ID, as well as your [...]
Famed for being environmentally friendly, electric vehicles are also becoming the best friends of your wallet. However, it’s not easy to dump the gas-fuelled mindset that fuelled the expansion of the auto industry for well over a hundred years.
That’s why New Brunswick is actively encouraging its residents to take the leap and invest in electric vehicles. These steps range from tax credit incentives to steadily expanding network of charging stations. This means borrowing less to finance EV purchases, often under special conditions.
Are you Worried about Charging your EV?
A huge country famed for its wide-open spaces, Canada is driving ahead steadily towards its 2035 zero-emission target for light-duty vehicles. Notable for its progressive stance, New Brunswick stands out among Canada’s provinces for its electric vehicle charging station network.
With only some 65 kilometers between each charging station, and more than 200 service points, drivers can top up their electric vehicles easily, [...]
With gasoline prices surging nationwide, Canadians are rethinking their transport options. In Nova Scotia, provincial rebates are showcasing the appeal of electric vehicles, as petrol pump prices rise. Research shows that most people thinking about going electric are being nudged towards this decision by soaring gas prices. In fact, hundreds of Nova Scotians have already benefited from a Province-wide Electric Vehicle Rebate programme. In simple terms, this program offers three generous benefits to Nova Scotia is trying to lower their transportation costs:
$3,000 rebate on the purchase of a new electric vehicle;
$2,000 rebate when buying a second-hand electric car;
$500 rebate for some e-bikes.
The purpose of this initiative is to help Nova Scotians in all income brackets hop aboard this trend in transportation. To do so, it offers point-of-sale rebates on new and used electric vehicles, plug-in hybrids, and even pedal-assisted electric bicycles (e-bikes).
New electric vehicle purchasers qualifying for the [...]
One of those rare designs that are just as much fun to drive both on and off the pavement, the 2019 Jeep Cherokee Trailhawk 4WD is a great choice for all-round comfort. A smooth and well-balanced ride that’s quieter than many of its peers, its fast and accurate steering can handle even the sharpest turns with effortless precision.
Off-road, the Trailhawk really delivers the goods, particularly over ground that is rougher than the average country place driveway. Although lacking the heavy-duty axles and generous ground clearance of the noisier and choppier Wrangler, the Cherokee is a better choice for drivers following trails rather than setting out on cross-country adventures.
The simplicity of its off-road settings means it’s easy to switch between road mode and rougher rides. Drive modes are quickly selected by just spinning a dial or pressing buttons, with terrain response settings for sport, snow, mud, sand, or rock.
Excitement is running high among drivers in Canada. That’s because Porsche Cars Canada has just announced its plans for an action-packed Porsche Experience Centre in Pickering, where customers and fans can experience the Porsche brand hands-on, up-close and personal.
This brand park will be slotted into the Durham Live entertainment complex, which is coming off the drawing board for this town in the Greater Toronto area. Planned as Canada’s own scaled-down version of Las Vegas, this massive new destination will feature multi-use facilities that include:
a concert hall;
a movie studio;
a convention centre;
300 hotel rooms;
a mix of restaurants; and
some 40,000 square metres of retail space.
Opening Scheduled for 2024
Slated to open in 2024, its attractions will range from fun for kids to sophisticated adult entertainment. One of its main draws will be the Porsche Experience Centre: a self-contained brand park where guests can explore cutting-edge automotive technology and vehicle [...]
Following in the footsteps of its company-wide commitment to electric vehicles, Stellantis filed an application with the United States Patent and Trademark Office (USPTO) in late January that hints at the name of its forthcoming electric truck: Ram Revolution. Covering motor vehicles in the passenger truck segment, it offered no design hints, with no indications of fonts or logos.
Furthermore, a recent presentation spotlighting the planet-protective plans of Stellantis offered very little specific information on this environmentally-friendly truck, as a key player in its overall EV strategy. By playing its cards close to the chest, Stellantis leaves its production and marketing options wide open and fully flexible.
Global Leader Goes Green
The outcome of a 2021 merger between France’s Groupe PSA (Peugeot, Citroen etc.) and the Italian-American FCA (Fiat-Chrysler Automobiles) conglomerate, Stellantis plans to invest well over CAD 40 billion (€30 billion) in going electric by 2025. Its sales targets for low-emission vehicles [...]
When most Canadians decide to buy a car, they also start looking for the best deal in car loans. This financing usually lets them pay for their wheels over a set period of time, with monthly installments that remain unchanged for the term of the loan.
Borrowing many thousands of dollars is a heavy commitment, particularly as buying a car is the second-largest purchase that most of us make in our lifetimes. That’s why it’s important to figure out exactly how much you can afford to pay back each month, calculating exactly how much you’ll have to pay out and then making sure this fits into your budget.
How Auto Loans Work
Although the world of finance might seem complicated, financing a car is a transaction that is easy to understand, once you master the basic terminology:
term is the length of time for which you wish to borrow the money, which can [...]
There’s good news and bad news for Canadian buyers shopping around a new car. The good news is that there’s no threshold credit score for taking out a car loan. The bad news is that borrowers with low credit scores pay higher interest rates, meaning that their vehicles cost considerably more by the time they pay off the principal amount of the loan and interest.
Learn About Credit Scores
When buying a new or used car, your credit score is a major factor in these transactions. For instance, dealerships will check your credit score before financing a vehicle in your name, while financial institutions define the terms of your loan, based on your credit score.
Although a low credit score wouldn’t stop you from buying a car, you might have to pay a higher-than-average interest rate on your loan. However, once you build up your credit score by making sure every instalment [...]