Everyone has to move around in their daily lives, of course. But having a car makes it so much easier to run errands and commute to work or class. However, poor credit can be an obstacle when trying to finance a car in Canada, particularly through banks. But here’s the good news: these financial institutions are not the only way of getting your own wheels!
Choosing The Best Used Car For Your Budget
Price is not the only factor to bear in mind when looking for a second-hand vehicle. Knowing which vehicles retain their value for the longest time is also a great way of getting your money’s worth on a major purchase like this. As an example, some vehicles retain about 50% of the value at the four-year mark, while others have already dropped to 30%, based on the Canadian Black Book.
As a rule of thumb, basic versions and neutral colours keep [...]
In terms of lifetime investments, buying a car ranks second only to buying a house. That’s why it’s important to check out all available payment options before signing up for such a major financial commitment.
While hunting for your dream wheels can be fun, working out how to pay for them can be a daunting process. A poor decision may have long-term implications that can tight-strap your budget, eat into your savings, and even tank your credit score. So here are some top tips from the experts at Canada Drives on how to navigate smoothly through the car-buying process, avoiding pitfalls and making smart choices.
What Do I Need to Get a Car Loan in Canada?
Application approval may take anywhere from a few hours to a couple of weeks, depending on the institution. You must complete the car loan application form in full (in either hardcopy or on-line), and provide [...]