Saving Money on A New Car is THIS Easy?!

No matter how much money you have, being able to save some on a purchase is always good news. Scoring a two-can-dine coupon on $10 meals can be enough to render people ecstatic. Although we don’t go out hunting for ways to save a few bucks on takeout, we do as much as we can to save on larger purchases. Purchasing a new car for instance – who wouldn’t love to knock hundreds or even thousands of dollars off of the price?

It’s possible to get the car you want at a price lower than listed, it just requires a little extra work that will be well worth it in the end. In the market for a new ride? Here are a few ways you can score the best car deals Canada has to offer: 

Do Your Research

The excitement of driving away in a new ride is a lot to bear. So much so, they are you want to just run to the dealership, sign your deal quickly, and ride away. While the experience is exciting, it’s best to take it slow and do thorough research. Don’t settle on the first car you see. Compare various models, makes, prices, and features. This extra bit of research can really go a long way when it comes to picking the vehicle that best suits your needs. 

Trade-In If Possible

Do you already own a vehicle and are just looking to upgrade? Consider trading in your existing vehicle. Provided it is in good condition, the dealership can offer you a good amount of money on it. The money you are offered is based on:

  • The year of the vehicle
  • The make/model
  • It’s external condition – is free from any cosmetic damage?
  • It’s internal condition – are all the parts in working order? Are repairs required?
  • It’s features – vehicles with more features tend to rake in more money
  • It’s current safety standard – will it pass safety or does it require repairs in order to do so?

Based on these factors, the dealership will work out a reasonable price which can be put towards the purchase of your new vehicle and lower the overall cost. If you aren’t too attached to your current ride, it makes sense to consider a trade-in!

Learn More About Rebates

Remember that two-can-dine coupon I mentioned earlier? It would be cool if you could cash in a coupon for your new vehicle, wouldn’t it? While they don’t work quite like that, rebates can still knock some serious cash off of your next new vehicle purchase. It’s important to research rebates you may qualify for as some aren’t brought up by the dealer. Money-saving rebates can include:

  • Incentive rebates – often given when you purchase a vehicle by a certain time 
  • Military rebates
  • Student/Graduate rebates
  • Mobility rebates (should you require any add-ons to make your vehicle accessible)
  • Workplace rebates

Get Your Dealer Invoice Report

A Dealer Invoice Report is to car buying what the Golden Ticket was to Charlie. What exactly is it? A Dealer Invoice Report generates the price the dealer paid for the vehicle as opposed to the MSRP which is marked up, sometimes substantially. The report reveals the dealer price as well as incentives you may be eligible for. Most dealers are receptive when it comes to accepting the report and presenting the information on paper may void a pesky negotiation process.

Depending on the price of the vehicle, the Dealer Invoice Report can save you anywhere from a couple hundred dollars to thousands. Saving your hard-earned money with a free report sounds like a win-win in our books!

When it comes to purchasing a new vehicle, there are several ways you can go about knocking some dollars off of the cost. Being aware of these measures and taking a little extra time before jumping on the first vehicle you see can help you save big.

Ready to purchase your new vehicle? Get your FREE Dealer Invoice Report today!

Incentives, Incentives, Incentives: Which Ones Do I Qualify For?

When it comes to any transaction, saving money is a big win. From saving a couple of bucks on a burger to saving thousands on a new car, any opportunity to save money should be seized. Purchasing a vehicle is quite significant and next to purchasing a home, is one of the largest transaction one will make in their lifetime. Because of this, many scramble to find ways to knock some dollars off of the cost of their vehicle.

One surefire way to save big on your next new vehicle purchase is to utilize a Dealer Invoice Report. The report generates the dealer invoice price of the car you want which is usually quite less than the market price. The report also offers various incentives Canadians can utilize to save even more money on their purchase. When it comes to incentives, there are various different types. It’s important to have strong knowledge of the various incentives to see whether or not you qualify for the savings they offer.

 

Financing Incentives

The most popular method of purchasing a car is financing. Financing allows you to pay for the total cost of the vehicle over a selected term. Unlike a lease, when the term is up, you get to keep the vehicle. Many people opt for this method of payment because it offers flexibility and ownership simultaneously. With financing, there is an interest fee which is added to the total cost of the vehicle and distributed throughout the weekly, bi-weekly, or monthly installments. The interest rate depends on one’s credit score.

Financing incentives drive the interest rate down, either for the entire term or for a select portion of it. Many automakers offer 0% financing for the first few months or year. For that length of time, there is no added interest fee to your payments. Other financing incentives offer low-interest rates, typically under 5% for up to 72 months. To qualify for these incentives, you must have good-excellent credit. If your credit is in good standing, it is worth looking into saving on that added interest fee!

 

Pay-In-Full Incentives

When it comes to new car purchases, paying in full is the least utilized method. Paying in full requires an entire lump sum being paid all at once, and if one is able to do so, they can avoid monthly payments and the debt amassed from financing/leasing. When it comes to financing, there is also minimal payment required since there is no need to prove whether or not you can make payments.

Many automakers offer significant savings in the form of incentives for those who choose to purchase a vehicle outright. The savings are typically quite high because the dealer is guaranteed to make a commission off of the sale since payment is made upfront. If you are able to purchase a vehicle in full, make sure you check out what incentives are available for you!

 

Bonus Cash Incentives

These incentives are not as heavily advertised as others, however, they can help select individuals save a good portion of money on their new vehicle purchase. These incentives are typically available for military personnel, students, recent college graduates, employees, or affiliates. They are put in place to help certain niches knock off some cash on their purchase. The Dealer Invoice Report includes bonus cash incentives within. If you qualify, let your dealer know so you can nab the deal.

 

Cash-Back Incentives

These are deemed to be one of the most popular and well-advertised incentives on the market. What do these rebates entail? Automakers offer cash back rebates to the consumer if they purchase their new vehicle by a certain date. Rebates typically fall anywhere between $500-$5000, however, this doesn’t mean you are handed over a huge cheque when you finalize your purchase. The cash back is typically rolled over to your payments and will knock money off throughout the term of your payment, equaling the total amount of the incentive. Similar to financing incentives, these are put in place to lower weekly, bi-weekly, and monthly costs.

When it comes to purchasing a new vehicle, there is a surplus of incentives on the market. Some are made obvious by the automaker and/or dealer and some require a little more research to come across. The Dealer Invoice Report comprises incentives relative to the dealer, automaker, or your own situation to make the process of saving money that much easier. Cashing in on these incentives is worthwhile if you are looking to save money on your new vehicle!

 

Looking for even more ways to save money on your next new vehicle purchase? Get your FREE Dealer Invoice Report and discover all the savings available for you!

Is a New Car in Your Budget? Here’s How You Can Determine Just That!

We all imagine driving around is a super fancy car without a care in the world. However, for most of us, there are bills that need to be paid and budgets that need to be adhered to. While you may be able to afford the supercar you want, it’s important to make sure it doesn’t consume a massive portion of your entire income. Breaking down your current financial state and the cost of the vehicle you want will help you determine if it is a plausible purchase. Affordability is a huge proponent in knowing how to buy a new car in Canada.

 

Determine whether or not you actually NEED a new car

Is your current car running perfectly fine? Are you just looking for a cool new upgrade? Is public transportation readily available for your daily commutes? If you answered yes to any of these, you may need to consider whether or not you NEED a new car or you simply WANT a new car. We all want the newest things that come to market, but there is a huge difference between wanting and needing. If there is no need for a new vehicle right at this moment, it may be best to hold off. There is no point in adding extra debt or a massive cost when there is no requirement to do so. If your desire for a new vehicle is burning, looking for ways to save money on your purchase, such as a Dealer Invoice Report, can help justify your purchase and shrink the overall cost.

 

Break down your current monthly costs and income

If you are looking to finance or lease, it’s important to know whether or not there is wiggle room for extra monthly payments. Car payments typically last anywhere from 2-7 years, ergo, you have to ensure you can be financially committed for a lengthy period of time. Before diving into a new financial commitment, assess your current situation in regards to other monthly payments and your overall income. If the cost of leasing/financing come well over your income or if you have JUST enough wiggle room, consider a more cost-efficient vehicle or holding off altogether. The last thing you want is to have no financial freedom for years on end.

 

Your current credit score

If you are planning on purchasing your vehicle outright, you don’t have to worry about your credit score when it comes to the purchase. If you are financing or leasing, however, your credit plays a critical role in determining if you can purchase a vehicle and the monthly costs associated with it. Your credit score will help the lender determine your ability to pay back any loans. If your credit history reveals revolving or missed payments that have jeopardized your credit score, the lender may a) deny your loan or b) increase your interest payments. Typical interest payments for those with good standing credit are around 5% or less. The lower your credit score, the higher they become. For example, if your credit score is in the 500-600 range, you can see interest payments upwards of 19-29%.

Added interest costs pertaining to low/no credit can easily add up to an extra couple hundred dollars a month. If your credit score is causing leaders to astronomically increase the interest rates pertaining to the vehicle you wish to purchase, it’s best to hold off and build up your credit in the meantime.

 

Will you be putting down a down payment?

Putting a payment down will decrease the monthly payments of your finance/lease term. The larger the down payment, the lower the monthly costs become. While this will entice people to put down a larger down payment, it’s important to determine just what kind of down payment can realistically be paid. If you have a strict monthly budget but have accumulated some savings for your new vehicle, it may be best to put down a larger monthly payment. On the flip side, if you don’t have as much capital, a smaller down payment can still decrease your monthly payments. It’s also important to note that you can make lump sum payments at any time within your payment term that can decrease monthly payments down the road.

When it comes to purchasing your new vehicle, it’s best to be realistic and choose something that you love that is still within your budget. Our Dealer Invoice Report can help you save thousands on a vehicle purchase and may give you the wiggle room you need to purchase the vehicle of your dreams. Overall, it’s important to assess your current financial state and your ability to afford a new vehicle prior to jumping on such a massive purchase.

 

Found the car of your dreams but looking to cut back on the cost? Get your FREE Dealer Invoice Report today and save big on your next new vehicle purchase!

Ready to Buy Your New Car: Here’s What You Need to Bring to the Dealer!

The research process when it comes to looking for a new vehicle to purchase can be quite lengthy so when the day comes when you are finally ready to make the big purchase, it can be very exciting! Days, weeks, or even months have led you to this point and there is nothing you want more than to get the keys to your new ride and drive off. Of course, this can only be done so if you have all your paperwork and necessary requirements readily available. It’s important to understand what fees are associated with buying a car and what you need to bring with you to the dealer to ensure you can drive away the same day.

Preparing what you need ahead of time can help ensure you don’t miss anything come the day of purchase. There are a few very essential items/documents you need to bring with you in order to complete your vehicle purchase.

 

Driver’s license: This may seem like a given, but you would be surprised how many people forget it. When purchasing a new vehicle, many people find alternative ways to get to the dealership; Uber, public transportation, ride-sharing, etc. Because of this, some forget to bring their license with them. Your driver’s license is important for confirming and verifying your identity when purchasing your vehicle. If you plan on driving your car off the lot, the dealership will not allow you to do so without a proper license on you. If you forget it and plan on driving your new ride home, you will either have to arrange for another day, arrange for vehicle delivery, or get someone to come pick it up for you.

Proof of Insurance: Just like a driver’s license, you cannot legally operate a vehicle without insurance in Canada. Dealers need to see proof that you have taken out a policy on the new vehicle before allowing you to drive it off of the lot. If you have recently purchased a policy and don’t have the slip yet, providing a printed copy will suffice. Without proof of insurance, you will not be allowed to drive your new car off the lot.

Employment/Credit Information: Typically, dealers will run a credit report for you, however, it’s good to have a report handy with you as well as your credit card. Some dealers may require employment information if they need to verify you can, in fact, pay for the vehicle. If any issues arise with your credit information or you don’t have the required back up information, this may delay the entire car buying process.

Form of payment: Whether you are purchasing your vehicle outright, leasing, or financing, you need to bring some form of payment. If you are purchasing outright, you need to present either a cheque, bank card or credit card that will cover the entire cost. When it comes to financing/leasing, payment is required for your down payment. If you are not putting a down payment down, it is still vital to bring your payment method. This is so the dealer can register the monthly payments to either your bank or credit card. Without this, they will not be able to bill you for your payments monthly, ergo, they will not let you drive off the lot until they are 100% they have a method of taking payments from you.

Dealer Invoice Report: Our Dealer Invoice Report can save you thousands on your new vehicle purchase and many dealers gladly accept the report. Ensure you have it printed out or have a digital copy readily available to show to the dealer. The report can help you knock off some serious dollars on your whole purchase or finance/lease payments. If you do forget it, you could be foregoing a plethora of savings.

 

What fees are associated with buying a new car?

There are a few required fees you must pay before completing your vehicle purchase. It’s imperative that you are aware of these fees so you are not hit with any surprises at the dealership.

 

New plate costs: A front and back plate are legally required when operating a vehicle. These need to be paid for prior to purchasing your vehicle so the dealership can ensure your vehicle is legally fit for the road. If you have a previous vehicle and you want to take the plates off and transfer to your new vehicle, you can do so and the dealer will waive this fee. If you want entirely new plates, however, you will have to purchase them at an extra cost of $60-120 depending on your place of residence (prices will differ for personalized plates and commercial vehicles).

Delivery fees: If you plan on having your vehicle delivered to you, it may cost you a little extra. Depending on the distance from the dealership to your home, the dealership may charge you a delivery fee. You can, however, find dealers who waive this fee for you.

Loan payment fees: When financing or leasing a vehicle, you are given an exact amount that will be billed to your credit card/bank weekly, bi-weekly, or monthly. It’s important to keep an eye out on these payments and ensure they match up to what original cost was given to you. If you see the payments that are coming out are slightly higher than initially agreed upon, it may be due to loan payment fees. Some automakers will add this fee on to car buyers monthly payments, usually around $10-$20 extra per month. It’s important to fully read your payment terms and conditions so you are not hit with any unwanted surprises when your payments come out. Not all automakers/dealers will charge a loan payment fee, so it’s essential to research which ones will waive it.

 

Making sure you have all the necessary documents and paperwork ready with you on the day of your purchase can help the process run smoothly and will allow you to drive off with your vehicle the same day. Doing so will also prepare you so you don’t run into any unwanted surprises.

Ready to purchase your new vehicle? Let us help you with the process! Contact us today for your FREE Dealer Invoice Report and drive away in style with some cash in your wallet to spare!

Gear Up for Summer 2019 with These Fire Rides!

As Canadians, we know what it feels like when it’s “the time of the year” with the sun in its full form and winning over those endless months of snow! Not to forget, this is the best time for all car enthusiasts to get rolling and show off your prized possessions on the road.

While summer is the best time to share and enjoy the aesthetic beauty of the car you invested in, it’s important to still consider the other factors surrounding a vehicle including safety, performance, and efficiency. To make you the best recommendation, we outlined some of the new car deals in Canada that can surely be your best bet this year.

Check out the popular cars for summer 2019:

 

Hyundai Veloster N

Termed as the hotter version of the original Veloster hatchback, this car is the performance car to set your eyes on this summer. Priced at $34,999, this one comes with a 2.0L turbocharged engine tunes with the exhausts to allow crackling on overrun.

New front and rear fascia, grille, that killer LED look, interior designed for the sports fans, customized technology for automation and an exhilarating performance makes it one of the coolest hatchbacks to look out this season. Amongst all hatchbacks, this deal is worth chasing for!

 

2019 Subaru Ascent

The family-sized SUV for all your summer adventures is right here. The 2019 Ascent comes with a spacious interior and offering seating for up to 8 passengers. It is a complete package of convenience, sport, safety and robust performance experiences. The engine is powered by a 2.4L turbocharged boxer four connected with the all-wheel drive to improve response times and performance.

Coming in Touring, Convenience, and Limited models this summer, this is Subaru’s largest vehicle till date with pricing starting from $35,995.  Needless to say, this car is envisioned and engineered for comfort for not only you, but also your family. If you are planning for a summer getaway, this is the car you must own.

 

2019 Ford Mustang Bullitt

Wondering what’s missing in the list? Yes, the spicy hot audacious Ford Mustang Bullitt series is back this year. If you are planning to hit the road with that brash and hard-to-ignore-sound that turns all heads around, this is your deal. This car is basically an auditory reminder for summer lovers and powered by the V8-powered GT with a price tag starting from $46,595.

There are driving modes for all your moods: from normal to comfort to sport to track driving. Interestingly, it comes with launch control and drag-strip setting to add to the thrill and one heck of a riding experience. You can customize and mix-match any of these modes in this limited edition ride by Ford that is worth the experience for all the Mustang fans out there.

 

Mazda MX-5

With its exemplary mechanics, this Mazda cult make is back yet again with an extra 20 hp engine for better performance. Mazda entitles this one as the world’s best selling roadster and without a doubt, the MX-5 has so far been the bang for the buck ride with all the exciting new design and safety features it comes with. Along with the advanced blind spot monitoring and rear cross traffic alert, it also includes the smart city brake support and a rear view cam like never before. And you get a cherry on the top. Literally – yes. Its convertible model comes with a choice of black cherry or brown top.

 

BMW M2

A list without BMW is unfinished business. The BMW M2 amalgamates everything that BMW lovers look for. It comes with an engine upgrade – turbocharged inline-six engine, tougher suspension, stick-shift transmission, new colors, powerful braking system and much more! This powerful roadster reassures you that BMW is a beast when it comes to building an ultimate driving machine! It is definitely one of the best sports cars under $100,000 we bet you want to flaunt this summer!

 

2020 Audi R8 Coupe/Roadster

Spectacular – inside out. That’s what the new Audi R8 is. With the gorgeous exterior and classy interiors, this one is eye candy for the Canadian roads this summer. Would you imagine Audi breaking the long known notion of building a sports car instead of their family and luxury cars? They have surely done a great job with this high performing beauty running up to 602 hp and promising a 0-100km/hr in just 3.3 seconds. The exclusive Michelin Pilot Sport Cup 2 tires add to the sporty look of the car. Audi does a great job continuing the legacy of R8 yet again.

 

2019 Porsche 911 GT3 RS

With the endless range of variants in the Porsche 911 range, the GT3 RS is arguably the most eye-catchy sports car of all times. With a maximum power of 500 hp, this car is made for the race-track and is a perfect thrill catcher for the Canadian roads raising the 0-100km/h needle in just 3.4s. Its wide body, graphics and design are unbeatable this summer. Heading out for a fun road trip to the countryside? This one ‘s for you!

 

Make the most of this summer with CarCostCanada reports making the decision easier for you with a detailed pricing, comparisons and best dealerships outlined for you.

 

Ditch the Negotiation Process with a Dealer Invoice Report!

Ready to buy a car but don’t know what to buy and where to start? As per Deloitte’s global automotive consumer study, most consumers start researching for a potential car 3 months prior to the purchase. Definitely, car shopping is becoming more of a need than a want for new buyers in the market with only 1 in 3 buyers knowing the vehicle they want to buy. As for Canadians, it is more or less the same. To get new car deals in Canada, consumers end up physically visiting each dealership to first know what they actually need to buy.

Another study by Cox Automotive suggests that more than half of the buyers are concerned about the monthly payments as well as the total price of the vehicle.

Of course, buying a car is not a decision made overnight and the fact that this decision involves a lot of investment in terms of the promise of utility and the price a car comes for, you wouldn’t want to feel disappointed with one. Needless to say, customer satisfaction is a unique selling point in this area of purchase. A simple, hassle-free shopping experience with transparent pricing and specifications is the way to go.

But how to make the shopping experience, worth pursuing in the first place? The answer is – dealer reports. Here’s how dealer reports can save you time and money to make smarter car buying decisions – ones which you won’t regret!

 

Breaks Down The Financials For You

Free dealer reports provide all the information you need for the car you want to buy with the retail price and the best match dealer price for the make and the model you choose. Their accessibility and emphasis on detail make them your one stop shop for all the initial research you need. With all the information about the dealer and retail price comparisons, leasing and finance rates with special and factory rates included, you have better clarity of how much a dealer makes from the sale and how much you can end up saving – transparency at its best!

 

Empowers Your Negotiation Process

With dealer pricing at your disposal even before making the purchase, these reports certainly put you in a better position to negotiate for the car you need. It is probably one of the best ways of staying informed about the vehicle and assessing your best deal options based on the market scenarios. An online report is a very resourceful prerequisite to stay prepared for negotiation with proof in hand.

 

Simplifies Your Dealer Hunt

It’s evident that we all want the best deal/price for every investment we make. Cars are no exception! A car report makes sure that there are no hidden prices or interest rates when it comes to helping you decide the best dealership according to your budget and additional benefits preferred. It also recommends you a great dealer with better incentives to make that job easier for you – a dealer that is trusted and recommended based on car make offerings as well as our previous customer reviews and happy experiences.   

 

Saves You All Those Pointless Visits

With car dealer reports, you can skip the long purchase processing times half of which is spent in negotiation. While dealers strive to make the dealing process shorter, reports are a digital way of accomplishing the same objective by reducing your time spent hopping from door to door at dealerships and the latter spent on bargaining for the price.

 

Establishes Comparable Options

When buying a car, you must keep your options open and choose what best suits your needs. A car report opens up a plethora of options for you to compare from based on your primary vehicle choice. This way you can find similar cars in the category and what each make has to offer.

 

Provides Access To Incentives

With a dealer report, you not only get detailed information about the already known incentives but also the ones that are non-advertised and less known to many. This is not only an add on knowledge but also helps you customize the incentives prior to making a purchase! Most reports also offer the choice of insurance that matches your purchase and will probably be the most beneficial in the long run.

Car-Cost-Canada-Infographic

A report helps you identify risks and opportunities with comparable pricing and benefits to streamline the process of buying a car – making the experience worth it!

With a CarCostCanada dealer invoice report, you get exactly what you want – from the initial research to the final call, every step in the car buying process is made super easy for you digitally. With access to a wide database of national dealerships in Canada, our report is a smart way to save money and time spent in car buying.

Check out what a sample detailed report looks like and request your FREE dealer invoice report to make the most of your next dream car purchase!

Hopes Surge For Tesla Enthusiasts As Electric Vehicle Incentives Become More Prevalent

Ever asked a Tesla owner what it feels like to own one? Being insanely happy and satisfied with their car is what a true Tesla aficionado would say.

To own a brand like Tesla gives some people a sense of thrill and for others is an eco-friendly option coupled with a sense of luxury and accomplishment. Canadians are no different! Tesla as a brand has managed to generate high levels of awareness and consideration amongst Canadian car enthusiasts. And, it is interesting to see how the excitement unravels for electric cars like these in the market with time.

Which brings us to good news for all Tesla fans. Buying electric cars is now going to be cheaper, thanks to the Canadian Government for the decision to boost electric vehicles on the road by covering them under incentive programs. This program includes a range of electric vehicles and not to forget – the Tesla Model 3. If you are eyeing the Model 3 for long and researching the new car deals in Canada, now is the time to invest in one.

 

Why are electric vehicles incentivized in Canada?

The plan to incentivize is a result of the governments’ aim to encourage Canadians to support practical, affordable, and eco-friendly solutions to face the issues associated with climate change effectively. It is an important milestone for the Government to initiate a solution in this direction that will help to reduce the amount of greenhouse gas emissions due to transportation

With this program, consumers will be entitled to a number of buying/leasing incentives depending on the eligible car make. And amongst the list of electric vehicles and plug-in hybrids, Tesla Model 3 is one of them.

 

What does it mean for current and potential Tesla owners?

According to the electric vehicle category, individuals purchasing an EV with a base MSRP under $45,000 will be entitled to receive a $5,000 rebate. Towards this, the following Model 3 configurations qualify for this federal incentive:

  • 2019 Model 3 Standard Range with the qualifying MSRP before centre fees and EV savings: $44,999
  • 2019 Model Standard Range Plus with the qualifying MSRP before centre fees and EV savings: $53,700

These incentives come in addition to the current $8,000 and $5,000 incentives offered in Quebec and British Columbia, respectively.

So, if you are planning to buy an electric car this summer, now is the best time to catch hold of the Tesla Model 3. Not only does it comes with the government-backed benefits now but this in-demand vehicle comes with all the features every Tesla lover would desire with the addition of a lower price tag.

 

How will a Tesla customer receive this incentive?

Such purchase incentives will be exclusively applied at point-of-sale – dealerships or online for one purchased or leased after May 1, 2019. For this, the dealership will be responsible for ensuring that the documentation is in place for you in order to obtain the benefit.

 

What makes Tesla so attractive to buyers?

  • The first and foremost reason why Tesla is the car everyone longs for is due to the embodiment of modern design and aesthetics backed with high technology features that can be updated via a simple software update just like a smartphone.
  • Tesla models have shifted focus to affordability and this will continue over the years to come.
  • They are one of the simplest cars to operate with almost no noise
  • They can reach high speeds in a matter of a few seconds, making them a head-on competitor for most luxury sports cars in the market.

Buying an electronic vehicle, such as a Tesla can be a very tough decision to make. The initial price may sway people, however, it’s an investment you will get your money’s worth from. Finding the right dealer, the best price, and the add-on incentives is essential to the buying process.

 

Car Dealer Invoice Reports: Finding You The Best Tesla Deals

Buying a Tesla is itself an experience worth participating in. To add on to this, a dealer invoice report breaks down the essentials you need to know before opting in for this experience and ensures that it is a memorable one by:

  • Choosing the best deal for you through a granular price comparison between different makes and similar electric vehicles
  • Breaking down the financials and leasing options that will best suit your requirements
  • Providing information related to the advertised as well as non-advertised incentives that you might be eligible for
  • Recommending you a partner Tesla store provider in order to deliver the promise of high quality and maintenance services

 

Get the best buying advice, pricing guidance and know more about the special incentives for your next Tesla Model 3 with a CarCostCanada report.

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!

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.

 

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.