Getting a new car can be exciting and nerve-wracking; from managing your budget to finding that perfect car to managing paperwork, and paying at the dealership. CarCostCanada is dedicated to lessening the weight of this process with dealer invoice prices in Canada, you can get a new Honda Accord sedan price report.
What to bring
First of all, you need identification, probably your drivers’ license, especially if you plan to drive it off yourself. Next would be your payment whatever form that may take. And then lastly proof of insurance, because it’s illegal to drive in Canada this is necessary before driving off the lot. You can do it beforehand or at the dealership and give your insurance company your new vehicle identification number (VIN) so they can email over your insurance credentials to the dealership directly.
It’s important to get your financing and payment type in order before heading over to the dealership. Preapproved loans from a bank or credit union might be an option for you but If this is your first car purchase you might have trouble getting a loan from the bank without a credit score. Make sure to look around as well, don’t just settle on your own personal bank, certain lending authorities could have ties to dealers which allows them to give out easier loans.
Past using loans, your down payment could be in many different forms from a cashiers cheque, personal cheque, or even a credit card payment. Usually, a credit card downpayment will be around $3000 or $5000 max. Even if it is a possibility and the car is very inexpensive, do not expect to pay full upfront. Dealerships want to be safe and minimize the risk of someone claiming alleged fraud or disputing the purchase, they also want to avoid being the victims of credit card fraud themselves so large down payments are especially uncommon.
Another way to help out with payments past loans is to trade in your old car. To do this you’ll be needing extra documents though; proof the car is yours, car title or a pink slip, a copy of the current registration, and potentially payment stubs and the loan account number for the car. Financing a new car like this can reduce your monthly payments and give you a lower tax rate. The estimated value of your used car is used towards the price of the new one, potentially knocking down a $30,000 car down to $20,000 which can make a big difference.
All done and ready to drive off?
Before you head on the road with your new car it’s important to check over it a final time. Make sure everything that should have been included is there and that you know exactly where everything is. The manual, chargers if it’s an electric or hybrid model, all your documents, and everything you were promised. Also, check the condition one last time, it’s easy to get lost in the excitement of a new vehicle and accidentally miss something and it’s best to make sure you’re getting the car in the best quality.
Now it’s time to enjoy your new car! With this, you can be better prepared for when you go in to buy a car and using our price reports you will be able to find the best deal and price on your ideal car. With a new year, there are new models and features so check out what possibilities await you with a new car!