Unless you are born to haggle, it's understandable if car shopping is last on your to-do list. Most people put off car buying as long as they can because they don't want to deal with the car buying process. From working with a private seller to chatting at auto dealerships, it can be stressful to find a used car in Canada.
It doesn't have to be though. The car buying process is not as complicated as it seems if you work with the right Autotrader and know when to walk away, and when to opt for the test drive. Here are a few things to keep in mind if you want to drive away in the best used car on the car lots.
If you need a new car now, then you won't have time to read Carfax reports and wait for the right one to come around. However, if you aren't in a rush, then you will get the best car prices by being patient and buying during the winter months. January and February are often the best time to buy used cars or SUVs in Canada because demand is lower and dealerships want to move inventory to make room for next year's models. That means they will probably be willing to haggle more.
If you need an auto loan to buy your next used vehicle, then it pays to do some research before you head out to the car lots. Unless you have perfect credit, you will probably get the best interest rates by working with a credit union. Salespeople will also work harder to meet you at the perfect price or offer you a fair trade-in-value if they know you are already pre-approved for a car loan and ready to buy.
Finally, the best thing you can do to protect yourself is to set your boundaries before you walk into any car dealership. You should know the right price for your net car, and factor in depreciation before investing in a new Honda or Kia. Shop around and see if anyone has incentives attached to trade-in offers and consider pre-owned vehicles since they hold their value better. Before you test drive a car, make sure you know the monthly payment, and whether or not it fits your budget. The best way not to get trapped by a new vehicle loan is by steering away from any used car prices that don't fit your budget from the start.
