Before thinking about a new car, spend the time to ask yourself why do you need it. This means putting aside all of your subjective opinions and questioning yourself objectively before heading to the nearest used car lot. Then, set a strict budget for yourself, and try your best to never overspend on things you do not need..
Most people often opt to finance their next car. Certainly, you have to pay interest and you will end up paying more than you would’ve buying the car immediately, but financing helps make those purchases with small payments every month and removing the need for you to give a way a large sum of money that often you don’t have right away.
Calculating the total amount of money spent over the installment period seems tricky, but there are plenty of free online calculators that will make your life easier or reach out to us to know the [...]
There’s a fact for everyone’s credit score: it’s arduous to maintain a solid credit foundation, yet all too easy to damage what you’ve built up. It happens to anyone who lost their financial security in a sudden. This is when you cut down on expenditures to alleviate the situation and one of the first things to go is undoubtedly your current car.
Here’s the thing, bad credit score happens. When you have to get your car repossessed, it leaves an impacting mark on your credit history. However, despite what’s commonly the belief, getting approved for a loan and affording a car on minimum income and bad credit score is definitely possible. In fact, it is something that we deal with all the time. Here’s how you cope with bad credit and manage to keep a car running during tough times.
It’s obvious, but first and foremost you should immediately look for a job. Granted, it’s [...]
After all the grueling and tedious research you’ve done, browsing through a wide range of cars from different used car dealers, you’re at the final stretch and undoubtedly, auto financing is still the most popular way by far, so acknowledging how down payments work can help you budgeting for your next car.
The concept of making a down payment is easy. While some people often can’t bare the upfront cost of a new car, paying part of the total sum is possible. This also serves as reassurance for the creditors, which could potentially decrease the interest rate of your payment.
It is worth noting that it doesn’t have to be cash upfront though. Down payment can also be an equity you own that can cover part of the cost of your newer car. For car dealers, this often translates to your current vehicle, as most dealers out there do accept your old car as trade-in. [...]
Buying a car is a daunting experience, especially for first-timers. However, once you understand the process behind it, especially once you comprehend the whole procedure behind car loaning, it can be a thrilling and rewarding experience. Loaning a car can help you afford cars that you might not be able to otherwise, but it is important to apprehend the process behind it before you get enthusiastic about car shopping.
What a car loan is, in essence, is basically borrowing someone else’s money to purchase a car. You then pay back that money on an installment, but with interest serving as the fee for borrowing the lump sum. Of course, if you’re talking about a beater you can generally pay for it directly with cash. But when we’re mentioning a lightly used modern car, financing it through a loan will be one of the best method to pay for the car.
For Kitchener-Waterloo car buyers, new cars aren’t always the way to go. In fact, for the common folks, in most cases, it’d be better off for them to look at the used market instead. Some of the advantages of purchasing new are obvious and needs little reiteration. However, before delving into the car market, you might want to know why you should avoid going new.
1. Higher Upfront Cost – Comparison
Obviously, the biggest con there is to buying new is that you’d be buying something new. New cars almost always cost more than their used counterparts, other than in some extremely specific cases. In fact, for models that aren’t receiving a major update anytime soon, you’d be better off just looking for 1 to 2 years used models and end up with a better trim package than you’d muster from a new model.
Eminently, the argument that can be made here is the fact [...]
Researching a car before the even taking a look at in person is an important part of any car purchase, and it’s especially more so when we’re talking about used cars. When you’re actually talking about a car that you intend to own, it’s not all about reviews, ownership plays a major part too. Thus, there are some tips that you should acknowledge to help you better utilize your time researching any used car models.
1. Understand Your Car Needs
First, you should know what car do you actually need. Think about this holistically, and it’s also prudent to prepare for the future. How many passengers do you need to seat? Is it a car for grocery runs? Is it supposed to be a working vehicle? Do you want a toy for the weekend? These are all questions you should ponder on before looking for cars. For example, If you’re planning to start a family, [...]
Financing options are quite wonderful indeed, with the advent of credit loaning, it has enabled people to be able to afford something they otherwise wouldn’t be able to. However, it’s doesn’t take much to garner a bad reputation among loaners, i.e. have a bad credit score, just because of an unforeseen circumstance such as a shock medical bill. And it’s much trickier to recover from a troubled credit score. Still, there are ways to claw back your credibility, and here are some practical methods used when you finance a vehicle.
Understanding your credit report
Of course, before you can actually improve your credit score with a car loan, you need to know what’s your credit standing. The three digit score is all you need. While you can opt for the traditional method of mailing which requires some patience, with a small fee you can receive an online report immediately. Refer to the online portals of [...]
Buying cars is a daunting task when you’re a newcomer, but folks living or intending to live in Ontario are fortunate with car dealerships like Garston Motors, whose dealers have taken it upon themselves to ease the process as much as possible. With a large pre-owned vehicles inventory, quality pre and post-sales services, a large, reputable lenders network and an intuitive website, the populace of Ontario, even those with troubling credit scores, have a dependable car dealership to shop from. Specifically, Garston Motors mainly operates in Kitchener, Waterloo and Cambridge on their car purchases.
Founded in 1999, Garston Motors is a humble family-run car dealership located in Cambridge, Ontario. Being an enduring car dealership, they understand that the procedure of a car purchase is intimidating to those without prior experience. Furthermore, they also recognize that for those in a tight spot or owns a bad credit score, it can be frustrating to even apply for [...]
Are you interested in loaning a car in Kitchener-Waterloo? The feeling of parking a new car on your driveway is supposed to be an enjoyable one. That said, whether if it’s new or used, there are some key rules that you should adhere to so that you can avoid regretting your decisions down the line.
1. Choose a Ride That Suits Your Need and Ability
One of the common mistakes often made by eager Ontario buyers is failing to accurately apprehend their financial ability. It’s tempting to go for that premium, luxury model that you have longed for, and when you realize that you can actually purchase one, that notion alone can be blinding. It’s important to recognize that being able to purchase something doesn’t mean you can afford it.
While it may be hard to come to terms to accept that you simply lack the capability to pay for something, it’s important to not [...]
One’s financial status can be tempestuous. One day you could be doing fine and make timely payments, while you may also be one crippling bill away from filing bankruptcy. While going bankrupt is eminently a troubling thought for many, especially for those currently under financial burden, even when bankrupt you can still commit to some financial dedication, such as buying a car.
We certainly understand that realistically speaking, you’d need a car in Canada to get to places that you need to be. That’s why that even when faced with financial adversities that we reckon a car still remains a daily necessity to get you out of a rut. However, owning a car even after bankruptcy needn’t be a stressful undertaking. That said, there are things that you should acknowledge about owning or purchasing a car post-bankruptcy.
Obviously, the worst thing about filing for personal bankruptcy is the fact that it will leave a lasting [...]