Author: Admin

CarCostCanada

Lease? Finance? Buy Outright? What’s the Best Way for ME to Buy a Car?

A vehicle is one of the largest purchases one makes, ergo, a significant amount of research should go into every aspect. From the make/model you have your heart set on to interior features to the total price of the vehicle; there are many factors that contribute to building, pricing, and purchasing the best vehicle for your needs. Because vehicles are a large investment, dealers, and banks alike, offer various payment options to suit your lifestyle. Leasing, financing, or purchasing a vehicle outright are the methods offered by the dealers when it comes to payment. Figuring out how you want to proceed with pricing will help you get that much further in purchasing your desired vehicle. Our Dealer Invoice Report can also help you ensure that, no matter what payment method you choose, you are getting the best deal on a new vehicle that Canada has to offer!

 

What are the differences between leasing, financing, and purchasing a vehicle outright?

 

All of these methods vary significantly to help suit the needs of as many individuals as possible. The key differences pertain to ownership of the vehicle and term payments.

 

Financing; albeit, the most popular means of paying for a vehicle, financing offers a good level of flexibility. Financing encompasses paying for the total price of the vehicle in denominations over a selected term. By the end of the financing term, you have complete ownership of the vehicle.

 

Leasing; leasing is a popular option for those who like to upgrade their vehicles frequently and aren’t doing copious amounts of driving. Similar to financing, leasing requires weekly, bi-weekly or monthly payments owing to the balance of the total lease. The main difference between financing and leasing is ownership; when leasing, you do not own the vehicle.

 

Buying outright; buying a vehicle outright is not as common as leasing or financing and is typically done when the cost or age of the vehicle does not meet the requirements of leasing/financing (more specifically, used vehicles). Although purchasing a brand new vehicle outright is not done as much as financing or leasing, it is the easiest method of payment as a surfeit of background checks (credit, employment, etc) are usually not required.

 

Is it a good idea to buy a car on finance?

 

As mentioned previously, financing is the most popular method of purchasing a vehicle. Financing a vehicle possesses the best attributes of leasing and buying outright, simultaneously; owning the vehicle whilst being able to pay in smaller sums. If you are planning on keeping your vehicle long-term, do a significant amount of driving, and don’t have the cash to pay in full (or the desire to part with such a hefty amount of money in one shot), financing is a viable option for you. Financing a vehicle also allows for more leeway when adding features to your vehicle. For example, if you wanted to add a sunroof to your vehicle, it could run you anywhere from $500-$2,000, however, when financing, you can discuss adding this feature to your vehicle at the time of purchase and break apart the cost. Instead of paying thousands outright, the cost of the upgrade is spread across your term, ergo, your sunroof will cost you a few extra bucks a month.

 

It’s important to note that financing comes with an interest rate contingent on your credit score, thus, you will be paying more for the vehicle that you would if you were buying outright. If you have excellent credit, expect interest rates to be on the lower, however, if you have poor or no credit, you could be paying upwards of 30%. It’s important to review your score to see what interest rate category you fall into. Our Dealer Invoice Report also aids with financing to help you get the lowest interest rate possible for your individual situation.

 

How does financing work? Financing can be a relatively easy process provided you have all the key information you need. The dealer will show you various payment terms based on the vehicle of your choice; the longer the term, the lower the weekly, bi-weekly, or monthly payments and vice versa. A typical term is 5 years or 60 months, but can be shorter or longer depending on your financial state and the year/make of the vehicle. The dealer will then require your financial information (credit score, credit history, letter of employment) and determine your interest rate based on these factors. Once the term, payments, and interest rates are worked out, you can opt to add any upgrades. When you obtain the vehicle, you are required to make your payments until the term is over, however, at any point, you can contribute money to lessen the term period or monthly payments. Giving a down payment can also lessen the monthly payments.

 

Pros

  • Payment terms and prices are flexible; you can opt for a longer term with cheaper payments or a shorter term with higher payments depending on your preference
  • Allows you to get a higher priced vehicle, if desired, without having to fork out a lump sum of cash
  • Upgrades can be added for low monthly payments

 

Cons

  • You are locked into a contract and failure to pay could lead to the loss of your vehicle
  • Loans typically come from the bank, meaning you are taking on a debt
  • The interest rate is added onto the full cost of the vehicle, depending on your credit score, it could amount to a significant increase in cost

 

Is it a good idea to lease a car?

 

Leasing is not as popular as financing a vehicle, but it does pose a lot of benefits. Similar to financing, leasing requires weekly, bi-weekly, or monthly payment for a fixed term, however, you are not the owner of the vehicle. You will be required to turn over the vehicle at the end of the lease or in some cases, the dealer may offer incentives for purchasing it post-lease. Leasing is a viable option for those who like to upgrade vehicles frequently as you are not fully committed to the vehicle. Most people lease for a 1-3 year period and upgrade thereafter.

 

If you are a city dweller and don’t typically do a lot of driving, leasing is a good option to consider. When leasing a vehicle, you are given a set amount of kilometres per year (extra charges apply should you go over) – if you do a small amount of driving, this shouldn’t be an issue. If there are any problems with the vehicle, they are typically covered by the dealer leasing you the vehicle (restrictions apply).

 

How does leasing work? Just like financing, the dealer works with you to find a term and payment plan based on your financial state and your desired vehicle. The cost is calculated based on the time frame and predictive depreciation of the vehicle; for example, if your lease term is 3 years and the car is expected to depreciate by 30% over the next 3 years, you will be paying for 70% of the vehicles total cost. Once your lease is over, you can opt to lease another vehicle or work with the dealer to purchase the vehicle you have been leasing at a lower cost.

 

Pros

  • You can upgrade your vehicle regularly without having to purchase in full
  • The rates are typically cheaper than those pertaining to financing
  • You don’t have to worry about selling/trading a vehicle when you are done with it

 

Cons

  • You do not own the vehicle, meaning you have to be especially cautious
  • You are given a fixed amount of KMs and if you go over them, the costs are high
  • Most leases aren’t offered past 3 years, meaning you have to commit to upgrading or purchase a vehicle thereafter

 

Is it a good idea to buy a vehicle outright?

 

Purchasing a vehicle outright is the most straightforward and easiest process out of the three, however, the issue with this is evident – if you don’t have the cash, you cannot buy the vehicle. Buying a vehicle outright minimizes the need for extensive paperwork (obtaining employment information, credit history, etc). Because you are not borrowing the money, the dealer is under the assumption that you accept the responsibility for the full payment, thus, credit history and other financial information is not required.

 

Purchasing a vehicle outright allows you to forego interest payments which will save you money in the long run. Our Dealer Invoice Report also contains cash incentives that can lower the price of the vehicle even more. Most dealers will accept our cash incentives with no issues because they are guaranteed to be paid on the sale. If you have the means to pay for a vehicle outright and don’t want to be locked into a debt/contract, consider doing so.

 

How does purchasing a vehicle outright work? This is the simplest of the methods and doesn’t require much. Discuss the model/make of the vehicle you want and bring forth any cash incentives you are eligible for. The dealer will then work out the best possible price, factoring your Dealer Invoice Report, incentives, desired add-ons, warranty, and taxes. Once you sign and make the payment, the vehicle is yours!

 

Pros

  • You are not locked into a contract nor do you acquire a debt
  • You forego the interest rates that come with financing
  • You fully own the vehicle; there is no worry about not being able to make the payments as there are none associated with the physical cost of the vehicle

 

Cons

  • Most new vehicles cost tens of thousands of dollars which can be difficult to pay all at once. You have to ensure you, not only have the funds to pay the full cost but doing so will also not leave you with nothing
  • If you want any add-ons or upgrades, these will have to be paid in full as well, either at the time of purchase thereafter
  • You are responsible for selling or trading the vehicle if/when you decide to do so

 

Deciding how you want to go about paying for your vehicle is contingent on your desire to own, your current financial state and how much you drive. Regardless of whether you want to lease, finance, or purchase outright, our Dealer Invoice Report can help you save thousands on your new vehicle!

 

Have you found the vehicle of your dreams? Contact us today and save big on the car YOU want!

CarCostCanada

Go the Distance: Get 300,000+ Kilometres With These Impressive 2019 Cars!

You’d agree with us when we say that the automotive industry sees plenty of action every year. With so many new models hitting the market, car enthusiasts aren’t easily impressed. It’s 2019, and the people want, nay, deserve more.

 

Kilometres Matter, Right?

Car comparison in Canada has become trickier and trickier owing to the staggering competition. Earlier, if your car could make it to 160,000 kilometres, it was a worthy opponent. Much has changed. That threshold has risen quite some and drivers now expect their cars to deliver 300,000 kilometres and beyond!

There are a couple of factors that determine how much kilometrage a car affords its driver. Every year, several websites list the most reliable cars based on their performances. The parameters that are considered are the car’s ability to withstand daily wear and tear, harsh climatic conditions and the driver’s skill, and still have plenty of kilometrages left over.

This begs the question: Do kilometres on a car really matter? KM is an important factor that shouldn’t be overlooked. The average annual kilometrage of a car is 20,000. You can look at this number as either high or low depending on the car’s age. Don’t get too tempted by the km/gal alone though as there are several other measures of a car’s efficiency!

What car has the most kilometres in it? As far as record-breaking cars go, a two-door Volvo Coupe purchased in 1966 takes the cake. It provided its owner with about 4,800,000 kms!

 

2019 Cars That Offer 300,000+ Kms

On average, about 1.2% of cars that are manufactured every year make it to 300,000 kilometres. Which models live up to this statistic? We’re about to find out!

 

Honda Odyssey

The fifth-generation Honda Odyssey has upped the ante as far as its overall performance is concerned. A sleek cabin, Magic Slide second-row seats, increased comfort and connectivity all come together to create a minivan masterpiece. The 3.5-liter V6 engine is a force to be reckoned with. It offers 32 HP more than its predecessor and has improved fuel economy.

iSeeCars.com has listed the Odyssey in its list of the top 14 vehicles that have an impressive lifespan. In fact, 2.3% of all Honda Odysseys were driven for 300,000+ kms and counting.

 

Toyota Avalon

By its own admission, the 2019 Toyota Avalon combines state-of-the-art technology with thrilling designs, offering both driver and passenger a luxurious feel. Toyota’s flagship sedan has come a long way since its inception. It is powered by a 3.5-liter V6 engine that is infused with a 6-speed transmission.

Apart from its big and comfortable interiors, the best part is yet to come. About 2.6% of all registered Avalons broke the 300,000-km threshold.

 

Toyota Tacoma

Toyota conceptualized the sleek and sporty Tacoma for the adventure-seeking junkie. Even at first glance, it’s hard to miss the sculpted bumper, colour-keyed fender flares, and the athletic hood scoop.

The Tacoma was built to take on the most rugged terrain. With the TRD Pro Series, you can expect a 278-HP V6 engine with a five-passenger double cab.

If you’re a buyer with modest needs and a strict budget, the Toyota Tacoma was made for you! It also doubles up as a sports truck for off-roaders. 2.5% of all tested Tacoma cars ran for well over 300,000 kms.

 

2019 Cars That Offer 400,000+ Kms

The following vehicles not only cruised past the 400,000-km mark, but they also proved themselves to last the longest and provide the most reliable performance. Take a look at these formidable frontrunners!

 

Honda Civic

When we talk of staying power, we’re talking about the immortal Honda Civic (at least if revenue figures are anything to go by)! This compact vehicle was listed as the longest-lasting model in a 2015 Consumer Report.

With a Civic, the two things you can always bank on are fuel economy and reliability. This is probably what made the car a best-seller in North America and keeps sales figures on the up and up even in 2019. Owners can easily enjoy 10+years of uninterrupted performance and, dare we say it, hit 400,0000 km and more.

 

Chevrolet Silverado 1500

This pickup is a threat to Ford’s F-150 series and provides owners with superior comfort and durability. These rival automakers are constantly attempting to outdo each other, and this definitely shows as both companies’ sales figures are on a tremendous upswing. According to the latest iSeeCars report, you can definitely count on your Silverado to cross 400,000 km.

Luxurious interiors are mated with alluring exteriors to make the Silverado one of the most resilient vehicles on the road. It can take on all types of terrain and still have plenty of life in it.

 

Toyota Highlander

The Toyota Highlander comes with a plethora of benefits. Its roomy interiors seat eight people and have third-row reclining seats. Cargo space is in no short supply as the 60/40 third-row seat can fold flat to recline and accommodate any extra luggage. Noise penetration is kept to a minimum as the windshield is made from an acoustic-proof glass that prevents outside sounds from entering the cabin.

These features sure pack a punch, but there’s more! The Hybrid SUV leads the pack of vehicles that last for a decade or longer. They have rock solid reliability rates and the advantage of being backed by a very powerful brand. If you take good care of your Highlander, it can easily outdo 400,000 km.

 

The Journey of a Thousand Miles Begins With a Car Dealer Invoice Report!

Request a FREE Dealer Invoice Report. SAVE Thousands of Dollars on Your Next Car!

A dealer invoice report will reveal the vehicle’s MSRP so that you can negotiate for a great deal. When shopping through Car Cost Canada, you can also access certified dealerships, exclusive rebates, and incentives. Skip those deceptive dealer fees.

It all starts when you get your dealer invoice report.

 

Thanks for reading! Kindly note that the numbers provided above were taken from the manufacturer’s website and are contingent on the driver’s behaviour. They are not guaranteed by CCC.

by Admin
CarCostCanada

2019 Car Infotainment Features That Will Forever Change the Way You Drive!

In 2019, the infotainment system in your car is as indispensable as the steering wheel. No, that’s not really an exaggeration!

The word “infotainment” is sometimes carelessly thrown around without preamble. So let’s first address; What does infotainment system mean?

In the automotive industry, an infotainment system (or In-Vehicle Infotainment -IVI) refers to in-car technologies that bridge the gap between entertainment and information for the driver and passengers. These typically include audiovisual interfaces, touchscreens, keypads, and the likes.

These systems have tremendously evolved since their inception, and though many people assume that this is a relatively new technological advancement, in reality, the first modern infotainment system as we’ve come to know them today was created as far back as 1980!

Buying a car with an infotainment system in Canada takes some doing. There are so many aspects that come together to make the magic happen; internet connectivity, smartphone compatibility, advanced driver assistance features, real-time traffic announcement broadcasts – and that’s just the tip of the iceberg.

Below, we’ve shortlisted the most sought after infotainment features in 2019 and the cars that epitomize these features to the max!

 

Apple CarPlay Connectivity

Any person who owns a smartphone in the 21st century can sympathize with this cause! By its own admission, Apple CarPlay is a smarter and safer way to connect your iPhone to your vehicle. This savvy feature lets you interact with your phone’s entertainment services through the vehicle’s in-built display.

In 2019, over 100 million people in North America alone own an iPhone. It’s easy to see why the automotive industry has gone all out to integrate this particular feature. An uninterrupted and user-friendly in-car iPhone connection is the golden ticket as far as most drivers are concerned. With Apple CarPlay, you can now make calls, receive and send messages and stream music seamlessly without ever having to take your eyes off the road.

Our Top 3 Picks With Apple CarPlay Connectivity

 

Android Auto Connectivity

Android isn’t about to relinquish the reins to its counterpart just yet. Android Auto ensures a smooth and seamless connection between your phone’s OS and the car. It comes with a sleek and intuitive interface, integrated steering wheel controls and phenomenal new voice actions.

And just like Apple, its primary focus is to reduce on-road distractions, especially in light of Ontario’s updated distracted driving laws in 2019 that penalize drivers for taking their eyes off the road to interact with a handheld device.

In order to make use of this feature, your phone will require an OS that runs at 5.0 (Lollipop) or higher. With Android Auto, you can interact with your phone’s maps, messaging, radio and music features at just the click of a button.

Our Top 3 Picks With Android Auto Connectivity

 

Navigation System

Scoring a car with a reliable and regularly updated GPS system isn’t a negotiation but a necessity. While en route, you expect your car to generate quick directions in real time, decipher the fastest route, inform you of changing traffic patterns while also taking into account certain driving preferences.

Depending on the brand, you can invest in add-on GPS packages that further simplify travel and navigation while implementing accident prevention assistance. It is estimated that road conditions in North America change by about 15% every year. You should be able to bank on a system that grants you updated access to millions of miles of roads, highways, streets, signages, traffic conditions, points of interest, restaurants, etc.

The reason we’ve decided to cover this aspect is due to the fact that a common question we get asked is, “Which car has the best navigation system?” Innovative GPS systems come part and parcel with the following 2019 vehicles.

Our Top 3 Picks With Powerful Navigation Systems

 

Entertainment Services (Audio + Video)

An infotainment system won’t hold much water if it’s doesn’t have a cutting edge audiovisual interface. Ideally, this should offer a wide suite of connectivity services to access your favourite music, radio shows, and podcasts. It should also offer standard features such as being able to double up as a Wi-Fi hotspot, seamless touchpad controls and some form of rear-seat entertainment to boot.

 

Which car has the biggest touch screen? The all-new 2019 RAM 1500 has a whopping 12-inch touchscreen display. This is second to Tesla’s behemoth 17-inch display.

Another instrumental feature that aids your car’s infotainment is the acoustic system. Bose, Bang & Olufsen and Harmon Kardon are the three leading manufacturers of in-car speakers that deliver crisp, clear and three-dimensional surround sounds.

Below, we answer the most pressing question yet; What cars have the best factory sound system? The brands that deliver phenomenal acoustics in 2019 are Audi, Ford, and Lexus.

Our Top 3 Picks With Innovative AudioVisuals

 

Infotainment Systems in 2019 Are A Whole New Ball Game

Before you buy your next car, get a free dealer invoice report. That way you’ll be getting the best infotainment features while still saving thousands and thousands of dollars!

Exclusive rebates and certified dealerships are only a click away.

Your dealer invoice report is ready and waiting. Get it here.

 

CarCostCanada

One For The Road: 23 Cars That Have the BEST Resale Value

Buying a new car is an exhilarating experience, wouldn’t you agree? In fact, it probably ties with the excitement of investing in your first house. What most dealers won’t tell you, however, is that a majority of cars dramatically depreciate when you drive them off the lot by a whopping 20%. This means if you were to purchase a car for $40,000, it would be worth about $8,000 less as soon as you hit the road for the first time!

Why should this information concern you? Well, if you plan to finance your vehicle yourself, do a trade-in or, unfortunately, happen to get into an accident and require insurance to restore the car to its original condition, you need to be aware of your car’s depreciation value.

In this article, we explore 23 vehicles that retain their value the longest. We also touch upon how knowing the new car invoice price in Canada helps you get the best cars at the most affordable rates.

 

Everything You Need to Know About How Cars Depreciate

A question you no doubt have is, What should I know before buying a new car? You should familiarize yourself with the vehicle’s expected depreciation rate over the duration of you owning it. After the first 3 years, the average vehicle will be worth half its current worth.

Apart from the car losing about 20% of its value when taken off the lot, an American auto comparison site reveals that new cars also devalue by about 23.5% after one year and by a whopping 60% after the first 5 years! This depreciation percentage eventually whittles down after a certain duration.

There are specific factors that impact the way your car loses value over time. These are as follows;

  • The reputation of the manufacturer and the model
  • The year it was manufactured
  • The number of miles you’ve clocked up
  • The condition of your vehicle
  • The service history of the vehicle
  • The colour of the vehicle
  • Market conditions such as newer models produced by that same manufacturer or the economy at large

 

Fastest Depreciating Cars 2019

Another burning question is; Which car loses its value the fastest? These are some of the fastest depreciating cars in 2019;

  • Nissan Leaf – depreciates by 71.7% after 5 years of ownership
  • Chevrolet Volt – depreciates by 71.2% after 5 years of ownership
  • BMW 7 Series – depreciates by 71.1% after 5 years of ownership
  • Mercedes-Benz E-Class – depreciates by 67.2% after 5 years of ownership
  • Jaguar XJL – depreciates by 66.4% after 5 years of ownership
  • Chevrolet Impala – depreciates by 66.2% after 5 years of ownership
  • Chrysler 200 – depreciates by 48.4% after 5 years of ownership
  • Cadillac SRX – depreciates by 47.2% after 5 years of ownership

 

Slowest Depreciating Cars 2019

Which car has the best resale value in Canada? The Canadian Black Book published its Best Retained Value Awards recently and shortlisted these promising cars that give the buyer the best ROI and depreciate the slowest. The frontrunners in each category are as follows;

 

Slowest Depreciating Brands 2019

Just as they do by model, cars also depreciate by brand! What brand of car has the best resale value? According to the 2019 Best Resale Value Awards, these brands have displayed a lower than usual depreciation rate for their cars based on the manufacturer alone;

Best Brand: Toyota

Best Luxury Brand: Porsche

Assorted:

A question we simply have to answer at this juncture is; What sedan has the best resale value? According to the 2019 Best Resale Value Awards, these sedans and coupes depreciate the slowest;

Which SUVs hold their value the best? According to the 2019 Best Resale Value Awards, these SUVs and crossovers depreciate the slowest, making them a viable investment;

 

Yes, It’s True, Cars Also Depreciate Based on Colour!

As surprising as it may seem, automotive car colours are a phenomenon in and of themselves. In fact, automakers spend a lot of time trying to predict what colours will make a big splash with consumers.

The colour of the vehicle does hold monetary value and influences the residual worth of the car itself. Simply put, an in-demand colour today is likely to make your vehicle all the more popular say, 5 years from now. Thus, colour cleary sways the depreciation rate more than one might assume.

What color car has the best resale value?

As a general rule of thumb, neutral colours fare better than chromatic tones like yellow, orange or pink. In North America, these three car colours are your safest bet and won’t put you at a disadvantage when selling your car later on.

  • Silver
  • White
  • Black

 

Got Your Eye on One of These Cars?

Request a FREE Dealer Invoice Report. SAVE Thousands of Dollars on Your Next Car!

A dealer invoice report will reveal the vehicle’s MSRP so that you can negotiate for a great deal. When shopping through Car Cost Canada, you can also access certified dealerships, exclusive rebates, and incentives. Skip those deceptive dealer fees.

So many great deals ahead! It all starts when you get your dealer invoice report.
by Admin
CarCostCanada

Negotiation 101: How to Successfully Beat Car Dealers At Their Own Game!

Are you in the market for a new car? If so, you’re most likely anxious about talking your dealer down from the astronomical quote they’ve just given you. Don’t break a sweat. Car Cost Canada is here to help!

Seeing as car shopping is not something you do every day, you have limited experience, especially when dealing with seasoned car sharks who know the ins and outs of the deal. Negotiating a new car price in Canada is an art unto itself. This article levels the playing field between regular folk and trained dealers.

A question that no doubt comes to mind is, “Can you still haggle with car dealers?” You absolutely can! When shopping for a new or used car, you might already be aware of the basics – do your homework and don’t be afraid to walk if the dealer isn’t meeting you halfway. But there are some more essentials that will get you a great deal.

 

No But Seriously, Have You Done Your Homework?

Start with settling on a car make, model and trim level before you approach a dealership. Don’t let the dealer sway your decision too much in this regard. If they sense you haven’t done your due diligence, the dealer is likely to get you to commit to add-ons that are way out of your budget.

Once you’ve taken this preemptive step, you’ll also have a ballpark price, and that in and of itself serves as a great starting point to begin negotiations.

 

Hear Multiple Dealers Out Before Putting Down Your Money

With any sizeable investment such as buying a new house, a car is really no different. You have to explore all your options to give yourself that much more bargaining power. This helps you deliberate between the best deals.

When your dealer senses that you have promising offers from other dealerships, they’ll be inclined to cooperate. And if your dealer refuses to yield, simply walk! Go to a dealer who offers reasonable pricing solutions and cordial services.

What should you not say to a car salesman? When hopping from one dealership to another, here’s what you should never say, lest it bruises your bargaining powers:

  • “I don’t know all that much about cars.”
  • “Wow, I really love that car.” (Sure you do, but if you let them know that, they will play on your emotions to get you to commit to the deal)
  • “My credit isn’t too great at the moment.”
  • “I absolutely must buy a car today.”
  • “My trade-in is parked outside.”
  • “I have a high paying job.” (This prompts them to elevate their quotes)
  • “Where are the cup holders?” (Save the trivial questions for later; Begin with important and well-informed questions first)

 

Watch Out For These Typical Dealer Traps

Car salesmen come with a roster of slick tactics to get you to commit to the deal and pay over and above your means.

  • One of the first tactics is for salespeople to attempt to wear you out with lengthy negotiations in the hopes that you’ll just cave and commit. To offset this tactic, stagger your buying experience; talk numbers on one day, test drive on another, etc.

 

  • “If I can get you this price will you buy the car today?” This is known as the porcupine technique where the dealer tries anything to get you to sign the paperwork. Don’t give a definite answer until you are very sure about the transaction.

 

  • The dealer will limit you to two options, for instance, asking you if you want the car in black or blue. That indicates that the deal is already made and it’s now a matter of attending to trivial details. In this case, they aren’t giving you the option of saying “no” or “I need to look into this before I make a decision.”

 

  • Your dealer might skip to talking about financing options and try to get you to forget about negotiating a good price first and foremost. Don’t talk about monthly payments or finance terms – do that later on. First, try to negotiate for the best price possible.

 

  • The dealer might provide misleading information such as telling you that great rebates are available to those who pay the sticker price. That’s your cue to walk. Rebates are provided by the manufacturer and not the salesperson.

 

  • Another tactic is the age-old “take it or leave it – today only!” ultimatum. The dealer puts you in a pressure boiler situation where you’re rushed to make a decision if you want their “limited time only” offer. Don’t let this tactic dupe you. The price and associated rebates are likely to remain the same on any other day you drop by.

 

Get Wise to the Real MSRP: Demand a Free Dealer Invoice Report

How do I get the best deal on a new car? A dealer invoice report is your ultimate wingman. It will help you discover the true MSRP (what the dealer actually paid to the manufacturer to own the vehicle). That way, you can skip fringe charges, hidden fees, markups and so on.

A dealer report also makes it easier for you to negotiate and compare certified dealers to find the best one.

How much can you negotiate on a new car? This really depends on your negotiation prowess. Typically, you ought to follow the 3-5% rule, which essentially suggests that you should add a 3-5% margin to the MSRP so as to arrive at a negotiation price. That way, you’re facilitating a great deal for yourself while also being fair to the dealer.

 

With Car Cost Canada, SAVE Over 15% on Your Next Car!

Don’t let your dealer pull one over you. Get a free dealer invoice report and become a smart and savvy shopper! Access certified dealerships, rebates, exclusive incentives and more.

Sounds interesting! Send me my free dealer invoice report right now!

 

by Admin
CarCostCanada

Buying Your Very First Car? Avoid These Mistakes Made by 92% of New Buyers!

Congratulations! 2019 is the year you’ve finally decided to quit taking public transit and get your new car. This is as exciting as that time you graduated high school or landed your first paying job!

After doing tons of research, you’ve settled on a make and model and can’t wait to take to the streets. Before you put your money down and complete the transaction, tarry a little. You’re not quite finished with the research process just yet.

Are you aware of the common dealer traps that new buyers often fall victim to? Have you located the best new car deals in Canada? If not, don’t ruin your first-time buying experience with inadequate research. Save yourself a world of trouble by reading this article instead!

 

Breaking Your Budget – And Then Some!

The most pressing question for first-time car buyers is, “How much should your first car cost?” The best way to proceed is to set your budget at no more than 20% of your annual salary. For instance, if you make $85,000 per year, your budget shouldn’t cross over $17,000.

A common trap set by dealers is to catch new buyers unawares by drawing their attention to the monthly payments rather than the total cost. If you’re wise to this tactic, it’s easy to stick to your original plan. Remember that it’s not just the capital cost that you have to budget for but also the insurance, fuel, licensing fees and so on.

 

Ignoring Your Intuition

Some dealers may not have your best interests at heart. If you feel that yours is constantly trying to get you to splurge over and above what you’ve expressed an interest in, it might be time to look elsewhere. When your sixth sense is telling you otherwise and the transaction begins to go south, don’t compel yourself to get the car just because.

Going to another dealer might mean more cordial services and honest and consistent pricing solutions.

 

Assuming That Test Driving Is Just a Fool’s Errand

First things first. Is it better to buy a new car or a used car? Bear in mind that a new car depreciates by about 20% as soon as it exits the lot. If a budget isn’t your primary focus then it makes sense to purchase a new vehicle. A used car, on the other hand, will be 20-30% less expensive even if it is just a year old, however, there may be existing issues with a used vehicle that will cost you more in the long run. 

Once you’ve made a decision on whether you want to buy a new or used car, the next step is to give it a whirl. While the car you have in mind might have the right features, it could still make for a less-than-comfortable drive.

The only way to know what you’re getting into for sure? Test drive like you mean it! Another dealer trap is for dealers to coax you to take a pre-decided route on your drive – a route that no doubt offers the least amount of challenges in the way of road conditions. If you are familiar with the area, choose your own route – preferably something that incorporates highways and streets.

 

Thinking That Walking Away Equates to Defeat

Many car shoppers ask, “Can I buy a car in one day.”  You certainly can but it’s extremely ill-advised. If for whatever reason, you are keen to complete the transaction in a day, you can do so online to speed things up. There are many perks to taking your time with the purchase, not the least of which are allowing yourself time to research, test drive the car of choice, and walk away from an unsavory deal. That way, you can completely skip that dreaded post-purchase buyer’s regret.

Walking away from a deal ties in with listening to your intuition. If you find the dealer being excessively pushy and not meeting you halfway, it’s time to walk. Cue the third dealer trap. Dealerships will attempt to sell you on an extended warranty in the hopes that you’ve forgotten that new vehicles come with a bumper to bumper warranty.

If you intend on retaining the same vehicle for a long time and using a lot of miles, then an extended warranty might be up your alley.

 

Not Acquiring a Dealer Invoice Report

Perhaps the most grievous mistake of them all – failing to ask for a car dealer invoice report from a reputed agency. Just as with any large investment, it’s important to consider multiple offers from different dealers so that you can negotiate for the best price.

Additionally, you’ll want to get your hands on the latest rebates, certified dealerships, best add-ons, and the deals that other people in your area have gotten.

A car dealer invoice report reveals the actual amount paid by the dealer to own the car. That way, when you’re haggling for a good deal, you won’t have to pay the full MSRP. And when your dealer senses you’ve done your due diligence, they are that much more likely to be cooperative with your negotiation tactics.

A dealer invoice report enables you to decide on a great bargaining figure. A majority of dealers turn a profit of 8.7% on selling a new car. When you’re aware of the MSRP, you can follow the 3-5% rule which is adding about 3-5% on the invoice figure in your report to calculate the most lucrative negotiation price.

 

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by Admin
CarCostCanada

New Car Buyers Guide: What is MSRP?

When it comes to purchasing a new vehicle in Canada, the process is relatively simple. You walk into a car dealership, inquire about your favourite models and makes, take some test drives,  and begin the negotiation process to get the best price for your investment.

The conversation typically starts at a price point set by the dealership and from there, the buyer will proceed to explain their budget so that the dealership can find a more suitable price for the both of them. The goal of the dealership is to make maximum profits whereas customers are looking for the best deal for their money. For those that have not gone through this process, this can be a challenging point as to what range you should provide the dealer, which is why understanding the definition of the MSRP and how you can leverage tools such as a dealer invoice price for comparison which can be instrumental to getting a good price.

Keep reading to learn more about the difference between the MSRP and a dealer invoice price:

 

What is MSRP?

MSRP stands for the manufacturer’s suggested retail price, which is exactly what it sounds like. Once the vehicle is manufactured, they put together a list of costs associated with the makeup of the vehicle along with any creative and design aspects. They recommend this price that includes the sales efforts and markup, encouraging all locations to have similar price points so that it can be standardized across the board.

This would be more or less the price that dealerships promote, adding on any discounts or additional markups. Understanding the MSRP is often negotiable will allow you to find the range to start the conversation from.

 

What is a Dealer Invoice price?

A dealer invoice price is a price that the dealership is invoiced for the vehicles that they sell. This is often the cost to the dealership, so a subsect of the MSRP. The amount is the direct materials, labour, and overhead associated with the vehicle and this becomes a charge to the dealership when they purchase them to sell to customers.

It is commonly known that the dealer invoice price often excludes costs that dealerships are able to get out of through incentives such as dealer holdbacks or cash incentives. Keep in mind, those discounts are not shown on the invoice prices that are on the report but for the most part, dealer invoice reports help to show an at-cost version of the vehicle you are looking for which is what you need to begin negotiations.

 

So the difference is…

The difference between MSRP and the dealer invoice price is the profit margin that the dealerships make. They are looking to maximize that as much as possible, but all car dealerships are in the business to make sales so they will negotiate until you are satisfied with the price and they are satisfied with the profit margin.

 

Obtaining a Dealer Invoice Report

With Car Cost Canada, you have the opportunity to get a report that showcases the dealer invoice prices and with the service, certified dealerships are recommended so that you can connect with someone who is ready to negotiate on these terms. Since the report itself is free, you have the opportunity to save money without initially investing anything.

 

Negotiating Strategies

Alongside a dealer invoice report, here are some tips and tricks to help you in your purchasing conversation:

  • Do not be an impulse buyer: cars will not run out, if you want a certain model or make, they will exist a week or a month from now. Take your time so that you make the best decision for your commuting needs.
  • Negotiate up from the dealer’s cost: utilize the dealer invoice report and take away any dealer holdbacks and cash incentives to obtain the dealer’s cost; from there, you can negotiate from an additional 3-5% upwards.
  • Bring someone along: this will provide another perspective and give off the impression that you cannot be intimidated; use your partner to strategically guide the conversation so that the power is in your hands.

 

Have your best foot forward in negotiating for your new vehicle. Do not get blindsided by additional markups or prices by utilizing the tools you have strategically. A dealer invoice report can give you all the information you need to make an informed decision. Contact our team today to learn more about the service and to get more advice.

 

by Admin
CarCostCanada

A Home Run: Best Sports Vehicles for 2019

With the new year in full effect, there are new models and makes of all your favourite cars. Bringing back the components you love while making them more efficient, there are several that make the top of our list. Especially, as we will be transitioning into the spring, this is a good time for you to look at the vehicles that will deliver top performance in all kinds of weather, be it the snowy roads of winter or the sleek dew of spring.

When it comes to choosing your new dream sports car with an ultra-modern look, all-wheel drive or a four-wheel drive that gives you the adrenaline rush in summers and the reliability in winters, there is no chance of making a compromise with the make. Whether it is front, rear or mid-engined cars, a touring coupe or a convertible, rear drive or four-wheel drives, we came up with of list of sports vehicles you should be watching out this year.

Finding answers to what is the best sports vehicle in 2019? Catch up with our list of favorites that will help you narrow down your choices:

2018 Acura NSX

Best in luxury hybrid and electric category, the Acura NSX is remarkably high tech and a winner in performance amongst its counterparts. Fitted with twin-turbo V6 engine it offers high acceleration in an all-wheel-drive and a hybrid powertrain. One of the advantages this car comes with is its gas mileage that is above average and stable handling that keeps you safe in extreme conditions.

2019 BMW 2 Series

Known for performance and pocket friendliness, this car comes with an exhilarating interior experience and turbocharged 4 cylinder engines for outstanding performance in all weathers. BMW 2 Series has a sporty look yet comfort attached to it. Not only this, in 2019 this car upgrades its fuel efficiency, safety and reliability standards a level up the ladder.

2019 BMW 8 Series

The right car for you if you are looking for amazing user experience, comfort, and a powerful engine! This all-new premium-pricedd BMW 8 series is available as a coupe and convertible. Its captivating look and design, rear wheel steering, luxury interiors, unmatched performance and a top speed of 155 mph, make it one of the top contenders amongst the luxury sports cars available.

2019 Kia Stinger

Looking for an AWD that suits your budget and delivers sports performance at the same time? Kia Stinger should be your ultimate choice amongst hatchbacks sports vehicles. It comes with a blind spot monitor, collision warning and automatic emergency braking systems embedded.

It’s unique design, turbocharged 4 cylinder engine or the twin turbo premium V6, powerful grip and brakes in the GT models are absolute head turners for sports car enthusiasts this year.

2019 Audi TT RS

Bringing back the legacy of Audi TT models, this version comes with a turbocharged five-cylinder engine, a pretty swift automatic transmission system, all-wheel drive with maximum acceleration and efficiency. It’s all about speed when it comes to this car! With a comfortable cabin and superb visibility, it also games up with safety features like standard front and rear parking sensors and blind spot monitoring.

2019 Dodge Challenger GT

The only challenger version with an all-wheel drive, this car has a great engine performance of 305 horsepower making it an amazing drive. Top models include bigger brakes and better performance additionals in the 2019 version. Though with a downside to high tech safety features, it covers up with the quality and comfort for the Dodge lovers.

2019 Toyota Rav4

The all-new revamped Toyota Rav4 is upping its game with an impressive athletic look and large interiors. This car is ‘the SUV’ that can be your next sports car with a multi-terrain select system for off-roaders. Toyota enhances its standard safety system with adaptive cruise control, lane assist and many more in its hybrid, regular and trial versions. A win-win for Canadian buyers this year!

2019 Volkswagen Golf R

Powerful and active, we cannot miss out to mention the popular Volkswagen R in our list! It is an effortless drive making it a class apart for the compact sports vehicle category. This car is known for exceptional performance and agility and comes with notable safety specs. Since, winter is not the time for you to get into any trouble with your car, this car suits you best for winter driving.

Cadillac ATS AWD

This version of Cadillac don’s superior crash test ratings and a long list of safety features. It has a powerful engine with a choice of rear or all-wheel drive and suits best for those planning to buy a luxury small car segment.

When it comes to picking out your new vehicle, our team at Car Cost Canada has an essential tool that allows you to get the best deal even on the newest model. With our dealer price reports, we provide you the dealer’s cost and the add-ons on top of that. In addition to this, you can claim rebates, incentives, and deals that you qualify for, allowing you to find further discounts that you otherwise would not get anywhere!

by Admin
CarCostCanada

First Look: The 2019 Honda Accord Sedan (Specs, Price, Launch Date and More)

Folks, it’s here. And how!

Meet the new and improved 2019 Honda Accord sedan. Refined premium interiors, two powerful hybrid engines and a boldly revamped body are just some of the specs that promise to set your pulse soaring.

Have your eye on the 10th generation Accord? If you buy or lease through Car Cost Canada by requesting a new Honda Accord sedan price report, you won’t have the pay the full MSRP. Instead SAVE thousands of dollars on your new car. You can access exclusive rebates, certified dealerships and additional incentives that aren’t available anywhere else! Skip those hidden fees that your dealer doesn’t want you to know about. Get a free dealer invoice report today!

 

Sporty Handling and Sleek Visuals

Since it made its debut in November 2018, the 2019 Accord is already a force to be reckoned with at just 3 months old. It boasts of an aggressive sporty aesthetic while still maintaining its immutably handsome figure. Borrowing much of its visuals from the most recent Civic, the vehicle is available in six trim levels: Sport, Sport 2.0, LX, EX-L, Touring, Touring 2.0.

 

Interiors

The 2019 model comes with a 5-seater layout, hitting that sweet spot of being a family vehicle and a sports car. Owners won’t have to worry about storage space as the car has an ample cargo section. Passengers in the rear enjoy 60/40 split seating that affords a luxurious feel. The front seats aren’t to be outdone just yet. They come with flexible and adjustable positioning as well as cooling and heating features.

 

Wheels

Moreover, the Japanese automaker has aimed to combine style and stunning visuals with the 19” aluminum-alloy wheels.

 

LED Headlights and Taillights

This car takes a three-pronged approach to illuminating the road. The headlights, daytime running lights and taillights – all LED based – promise to pioneer an all new style signature. The LED fog lights, on the other hand, expertly penetrate through hazy weather to help avoid collisions.

 

Moonroof

Ventilation is not something that Honda wants you to do without. A one-touch button powers the retractable moonroof to open or close it using a tilt feature.

 

Engine

The 1.5-litre, 10-valve, 4-cylinder turbocharged engine in the LX puts you way ahead of the pack. In the Sport trim, you have the reins over the buttery smooth 6-speed manual transmission system.

All in all? Look out for dynamic angles, a wide stance and a longer wheelbase.

 

Cutting-Edge Technology

Techno-junkies can expect a bundle of surprises with the 2019 Accord. The vehicle has a state-of-the-art steering wheel that uses fingerprint technology. The 452-watt AM/FM acoustic system allows for MP3/Windows Media Audio playback. And the cabin is immediately converted into an impressive sound stage with the 10-speaker system.

The in-car infotainment system is fully compatible with Apple CarPlay and Android Auto, lending you unlimited access to news, playlists and navigation, using the ever-reliable HondaLink. Both the EX and the Touring share the same 8-inch display. Two USB ports and a volume knob are thrown in for added convenience.

The Touring models offer the driver increased navigation capabilities, HD digital traffic updates, voice recognition and other assorted cloud-based services.

Even the staunchest of cynics can’t deny that the car’s Driver Assist Technology, especially in light of Ontario’s 2019 distracted driving rules, is a major godsend. Adaptive cruise control, lane keeping assist, LaneWatch and blind spot detectors as well as a cross-traffic monitor join forces to make sure that your on-road experience is a safe and pleasurable one.

 

The Price Point?

For the sheer magnitude of its features, the 2019 Honda Accord is available at a modest price point of:

  • 28,090 CAD for the LX
  • 30,090 CAD for the Sport
  • 32,790 CAD for the EX-L
  • 33,090 CAD for the Sport 2.0
  • 36,090 CAD for the Touring
  • 39,090 CAD for the Touring 2.0

Given its upscale features, spacious accommodations, large trunk space and hybridized powertrain, many Honda aficionados consider this a worthwhile investment.

 

Psst! Don’t Pay the Full MSRP.

We Can Help You SAVE Over 15% on Your 2019 Honda Accord.

How? Simple! Find out exactly what the dealer paid for the car and negotiate for your vehicle based on that figure.

You can get started by requesting a FREE dealer invoice report. Your report will detail the lowest price offers, rebates, add-ons, hidden fees and certified dealerships for your car. No dealer can take advantage of a buyer who has clearly done their due diligence.

Save thousands of dollars! Be a savvy shopper with Car Cost Canada.

by Admin
CarCostCanada

These Stunning Audi Cars Will Revolutionize the Road in 2019

Audi Canada has risen through the ranks to symbolize prestige in the minds of many. It’s no surprise that the German luxury automaker, under its parent company Volkswagen, has established itself as a frontrunner for innovation and quality in the automobile industry.

Manufacturing vehicles since 1910, you wouldn’t be remiss to associate its premium cars with unmatched engineering excellence in terms of reliability and performance, much like you would its counterparts Mercedes-Benz and BMW.

Fast forwarding 109 years to 2019, the automaker has much in store for car enthusiasts, whether it be in the form of hatchbacks, sports coupes, electric crossovers, sedans, and the likes. This lineup will attempt to transform every facet of the automotive industry.

Below, we’ve compiled a list of the much-awaited Audi cars that, just by specs and visuals alone, leave the competition in the dust.

 

Audi 2019 A6 Sedan

The fifth-generation A6, a midsize luxury sedan, is perhaps the most highly-endorsed Audi vehicle this year. It promises to spearhead an all-new design language for the automaker while still incorporating conventional class standards.

This vehicle will showcase a refined cabin and creased bodywork to boot. Under the hood, the discernible driver will find a 6-cylinder engine, 7-gear transmission, capable of producing 335 HP.

The car’s revamped design is augmented with a brand new MMI infotainment system (though some prefer the previous version with the dial controller) and a new V6 mild hybrid powertrain. Overall, the driver can expect a strong performance and a pleasurable cruise in its plush interiors. Just like its predecessor, its on-road behaviour is much the same, offering a mix of sporty handling and comfort.

 

Audi 2019 Q3

Audiences will recognize that the Q3 debuted way back in 2011 and has come a long way since – if the 2019 model is anything to go by. The second-generation Q3 will feature revamped exteriors to mimic the same standards exhibited by the new Audi SUVs and crossovers.

The Q3 comes with some interesting specs – a 2.0-liter engine with 4 cylinders, capable of producing 200 HP. Aside from the U.S. lineup, there will be a more potent RS Q3 allowing overseas buyers to access a whopping 363 HP engine. By and large, the Q3 promises to spruce up the underdeveloped lineup currently seen in U.S. markets. The automaker has promised to release more info closer to the on-sale date.  

 

Audi 2019 R8

When the R8 was initially released in 2006, it quickly made it to every auto lover’s must-watch list. Even as subsequent rollouts occurred over the years, the model still headlines this segment over a decade down the road.

The sports car will witness a few small cosmetic transformations in the new year, mostly to its front and back fascias. Buyers can also expect new and improved interiors, with the stunning Audi Virtual Cockpit infotainment system stealing the spotlight from other in-car sundries.

As far as the engine is concerned, two models will be available: the 533-HP V10 and the 602-HP V10. The internet has been rife with rumors about the 2019 R8 being designed with a twin-turbocharged V6 to pack more heat, but the automaker has largely dispelled these claims.

 

Audi 2019 Q8

With Audi’s extensive 2019 lineup, it’s impossible to cover every single one in this article, however, failing to make a mention of the Q8 is a cardinal sin. The Q8 has quite some overlapping features with Audi’s flagship sedan, the A8.

A quick glance at the Q8 reveals sharp headlights, tail lights, and a sturdy grille. It will be a little shorter than the Q7 but with 3 extra inches on its width. If you expect to see the third-row seating as observed in the Q7, you will be disappointed. The Q8 has conventional seating that only accommodates four or five. With the base engine, you can expect a 2.0 liter, 252 HP, 4-cylinder turbocharged engine.

More information will filter through with the car’s approaching Hong Kong debut this June.

 

Audi 2019 e-tron Quattro

Apart from Audi’s soon-to-be-released Q8 crossover, the Quattro is another new flagship product to hit dealerships in 2019. This compact fully electric car promises solid underpinnings and will borrow its design from the Q8.

The powertrain is the central focus of the Quattro and will feature about three motors with a 95-kilowatt-hour battery pack, capable of producing 429 HP. The electric crossover is estimated to offer the driver 300 miles on just one charge. These numbers are subject to minor speculation and the automaker may choose to pack in even more heat.

 

Any of These Beauties Catch Your Eye?

Audi has an impressive lineup of luxury vehicles in 2019, estimated at an average price point of 50,000 – 70,000 USD.

Don’t despair just yet! If you want to purchase one of these cars, don’t pay the full MSRP. Instead, save 15% by accessing rebates and discounts with a FREE dealer invoice report. Being the smart shopper that you are, find out exactly what the dealer paid for the vehicle and set a negotiation price accordingly.

I want to save on my new Audi 2019 car. Send me my free dealer invoice report.

by Admin