Car buying tips for Canadians in 2022

Posted by on Jun 14, 2022 - Archived under Car Loan

Canadians have a love-hate relationship with their car; they love the freedom it provides but hate being gouged at the gas pump. It seems gas retailers are looking any potential reason to increase gas prices; whether it is war in Ukraine or Elon Musk posting something confrontational on Twitter, gas prices are out of control.

Hybrid versus all-electric

The Trudeau government’s carbon taxes spell the end of affordable gas prices; these taxes will make gas too expensive for drivers forcing them to either walk or switch to either a hybrid or EV.

  • Hybrids are very fuel-efficient, especially if you get the Jeep Wrangler, but gas is still in the equation. EVs do not use gas at all, so you no longer have to worry about gas prices.

EVs are the future, well, they were the past too, but range anxiety and lack of infrastructure in the electricity grid is why electric cars never caught on 100 years ago.

Why buying an EV makes sense in 2022

A decade ago, owning an EV was more of a novelty than a practical car-buying decision, but much has changed since then.

Battery technology has advanced to the point where the range you get from a “full tank” of electricity is comparable to what you would get from a gas-powered car that has a full tank.

You do not have to buy a top-of-the-line EV to enjoy the benefits of this extended range; all of the second-generation EVs that are currently available in Canada has more than enough range to meet your needs.

This increased range, coupled with the installation of a vast network of level 3 chargers, means you can take your EV from coast to coast without much hassle. Most Canadians are opting to have level 2 chargers installed in their home; this will let them keep their EV constantly charged so you can easily jump in your vehicle and take a random road trip.

Financing for EVs is very competitive

Since major carmakers are rolling out EVs, the firms that provide automobile financing are taking note and have started to offer very competitive terms. To access the best financing terms, you will need a decent credit score and income that can be verified.

You will not be able to access the best financing terms by yourself; the websites that promote EV car loans online are not set up to offer the best financing. The best source of financing is your local car dealership; they already have working relationships with all of the lenders throughout Canada.

The local dealership will also be able to help you find the lender who will give you the terms that work for your budget. With the vast number of EVs available, you should have no issues finding something that works for you.

The sooner you do reach out to your local car dealership, the more money you are going to save on fuel so why wait any longer? Contact your dealership now and start reviewing your options.

For those of you who know that you have a challenging credit situation, please visit Dixie Auto Loans where we have a team of credit specialists ready to help you get approved for a car loan today!

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