If you’re considering using a car loan to buy a new car and you want to get the best deal possible. We can help.
Not only do we have access to some superb lenders happy to work with people in all kinds of situations, we also have an expert team on hand to help you buy a new car, find competitive finance and assist with everything to do with buying a car.
With that in mind, our sales team have put together some common car buying myths they hear a lot in our dealerships. We help they help you make a better decision when it comes to buying your next car.
Myth: You cannot use a car loan for a used car
Not true. We hear this myth a lot. People somehow assume that a car loan or car finance is for new cars only. That is not true. You can use a car loan or dealership finance to buy used cars as well as new ones.
Myth: Buying a car at the end of the month gets you a better deal
Sometimes true. Dealership sales targets are usually monthly and sales people who risk falling short of their target can often work extra hard to secure a sale. That can often mean cheaper car loans or better results when negotiating.
However, the Car Nation Canada family of dealerships will always work hard to get you a great deal whatever part of the month we’re in.
Myth: Buying a used car is cheaper than buying a new car
Yes and no. The sticker price of a new car will obviously be more expensive. But new cars come with warranties that can last many years and up to 100,000 miles. All used cars we sell come with a limited warranty but it’s nothing like a new car warranty.
Depending on your situation, being covered by manufacturer warranty can be a better option than buying used. It all depends on your personal situation.
Myth: Paying cash for a car gets you a better deal
Not always true. Sometimes when buying some cars, a cash offer will get you a discount. Sometimes it won’t. There is a lot that goes into pricing a car including manufacturer incentives, finance incentives, whether the car has been hanging around the lot for a while and a number of other influences.
Car Nation Canada is more interested in matching you with your perfect car rather than your payment method.
Myth: Not mentioning your trade-in until the last minute will get you a good deal
Not true. Some of our dealerships have seen this more than others. You work the deal with the customer and at the last minute, they mention they have a trade-in to offer against the price of the new car.
This won’t work in your favour. We ask at the outset if you have a trade-in as the last thing we want is to have to rework all the calculations and paperwork to factor in a trade-in!