The temperature is rising, and spring is on its way. For many Canadians, when the weather gets nice and the days get longer, driving ceases to be a chore and becomes a pleasure. Open roads finally free of salt and sand and ice call out to be driven in a car that you can really take to the limit — which is why spring is reliably one of the most popular times for Canadians to go shopping for a new automobile.
If you are looking to buy a new car this year there are a few things you should keep in mind. Auto sales have been up across Canada in the past two years, and dealerships are doing brisk business in all manner of new vehicles. If you want to find the best deal on a car you’ll be excited to drive for years to go, here are a few tips:
- Research Is Key
Buying a new car can be a daunting prospect. With so many brands, makes, and models to choose from(and a significant variance in price), knowing which car is right for you takes some research. Read reviews of the vehicles you are interested in, and get a sense for which brands are most likely to deliver what you’re looking for.
For example, you may start out looking at luxury models, but after doing a deep dive into the pros and cons of various vehicles, you might decide that your money is better spent outfitting a reliable Mazda 3 or Mazda CX5 with high end trim options that will provide a similar amount of comfort at a fraction of the price.
- Find Your Price Range — And Stay Within It
Financial planning is a weakness for many North Americans, and being realistic about what you can afford is the best way to avoid buyer’s remorse. Calculating how much you can reasonably make in monthly payments is helpful, but it is important to consider the final price tag and base your search on that number. If you know you can afford a $40,000 vehicle, but can’t go much higher than $45,000, this will give you a sense of what options are available.
- Trade In Your Old Vehicle
The best way to bring down the price of a new car is by trading in your old one. While it may seem like a good idea to try and sell it separately, it is unlikely you will actually make more money selling your used vehicle on an online marketplace than you would save on a trade in. Trading it in to the dealership is also less of a hassle than trying to close a sale online.
- Look Into Financing Before You Go Shopping
For most people in the market for a new car, a good financing arrangement can mean the difference between a good deal and a disastrous one. Most dealerships have a financing team on staff to help you find a payment plan that fits your budget, but it doesn’t hurt to set up a loan in advance if you are worried about payments.
Depending on your financial situation, a loan might make more sense than a payment plan — or you may opt to lease and avoid taking out a loan altogether. Either way, having a firm grasp of your options before walking into the dealership will help you make an informed decision.
Few things compare with the pleasure of driving abrand new car off the lot, and if you do your research and plan responsibly, 2018 can be the year you finally get to experience it.