How to Safely Buy a Car in Glen Morris

How to Safely Buy a Car in Glen Morris

Posted on October 6, 2021

We shop online for everything and buying a new car is no exception. The internet makes buying a car as simple as clicking a mouse provided you use the correct approach.

Our auto loans team has put together these suggestions that will help you buy a car in Glen Morris and make your experience a very pleasant one. We want every customer to drive away happy and this post is all part of that.

Buy local, regionally or nationwide?

In the past, you would be forced to choose a car from the limited inventory at your local car dealership. Now, you can scan dealerships from across Canada and shortlist the cars that meet your needs.

When you have compiled your list of vehicles that are suitable for your needs, you can now begin comparing the prices to determine which is the best offer overall. If you are buying from out of province then you must factor in the cost of either shipping the car to you or you heading out to the dealership.

One way to overcome this challenge, especially if you are dealing with a local car dealership is to have them (the dealership) coordinate the delivery of the car you want to buy. This service is usually available if you are dealing with a dealership that is part of a larger dealer network.

Paying for your new car

You also have the option of shopping online for auto financing or going through the in-house financing being offered by the dealership you are with.

The quotes that you receive online are ‘conditional’, which means you must meet the underwriting requirements set by the lender to receive that offer.

While the quotes that you receive online may be slightly lower than what the dealership is offering, you should consider going with the dealership. Having them handle the paperwork and your application makes great sense, especially if you don’t like forms!

Working with a great car dealership

The internet is great for browsing, but when you are making a serious financial decision like buying a car, you want someone to help make the experience pleasant.

When you work with a reputable car dealership like us, they will go above and beyond to make sure that you get amazing service every step of the way.

You may pay slightly more interest by using the in-house financing at the dealership but it will be money well spent.

Getting your finances in order

There are a few items you will need to buy a car in Glen Morris and the first is good credit.

You do not need perfect credit although it would give you access to preferential interest rates.

Take a look at your credit score and see whether you are 650 or higher. Some lenders specialize in helping people with credit challenges but the interest cost can be higher. If you have credit over 650 then you should qualify for a prime auto loan.

Do you have income that can be verified? The Canadian economy is gradually transforming into a gig economy and some individuals have a difficult time proving their income.

One way is to provide a copy of your income tax notice of assessment. This document shows how much income you have declared to the Government of Canada. By providing your income tax notice of assessment and baking information, you should satisfy the income verification component of the auto loan application.

If you have followed our suggestions, you will have no issues safely buying a car in Canada, so start shopping now!

When you’re ready for a car lease or loan, get in touch with the Glen Morris auto loan experts at Northway Ford for great deals on auto finance.

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