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 today’s gig economy, not having a formal job is a far cry from having no income. There are many reasons for not being in full-time employment: studies, disabilities, family commitments, and freelancing, to name just a few.
Everyone needs transportation, and driving one’s own automobile is often the fastest and most convenient way of getting from A to B in Canada, particularly for people with tight schedules. However, the absence of a regular income can make it harder to obtain a car loan – for exactly the people who most need their own rides.
How to Buy A Car Without A Steady Job
However, it’s often people working irregular hours who need their own wheels the most, particularly when public transportation isn’t running. In fact, a reliable car is a major factor in personal safety, particularly at out-of-the-way locations that may be deserted during off-peak hours.
Far more than just a way of getting from A to B, cars and trucks are status symbols through which their owners express their personalities and preferences. But these keys to individual freedom are by no means free: buying a vehicle is one of the heaviest commitments in most people’s lives, second only to purchasing a house.
So – despite all the excitement – it’s important to keep a sharp eye on financial aspects when buying a vehicle in New Brunswick. After all, there’s no point in chasing after your dream wheels if the repayments would leave you without money for gas or maintenance.
Smart Choices Mean Happier Driving
Your vehicle should match your lifestyle and meet your needs. So – unless they meld seamlessly into your lifestyle and budget – leave that snazzy sports car or high-end SUV as an aspiration, at least for now.
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 [...]
Half the fun of buying a car is checking out the market by wandering around lots, right? However, this hasn’t been possible for quite a while, and – despite masks and vaccinations – many people are still not comfortable about face-to-face conversations with strangers. That’s why kicking wheels over the Internet is a great pandemic option for prudent purchasers!
Keeping It Personal
With peer-to-peer marketplaces thriving, plenty of buyers are opting for used cars advertised online by their owners. Yes, this can be a great money-saver if you luck into a great deal – but scammers are everywhere. So here are a few tips on how to protect yourself (and your hard-earned cash!) when you buy a car online from a private seller.
First, you should confirm that (i) there really is a car; (ii) it’s in the advertised condition; and (iii) the advertiser has the right to sell it.