How to get a great deal on a new hybrid

How to get a great deal on a new hybrid

Posted on June 29, 2022

If you are reading this, you must be interested in buying a hybrid. We are going to show you what steps must be taken if you want to get a good vehicle at a great price.

Working on the premise you will need financing, we are going to cover what steps you should take in order to save on financing.

Canadian consumers are switching to EVs in droves

A significant number of Canadians are tired of high gas prices and are buying EVs. This demand for EVs has put a tremendous strain on the major carmakers who are churning out EVs as quickly as possible.

While demand for EVs is at an all-time high, the demand for hybrids is not as high, which creates a unique opportunity for you.

The latest generation of hybrids is very fuel-efficient, so you stand to save a considerable amount of money by making the switch.

Something that gives the EV an edge is there is a strong used hybrid market that you could tap into if you are not willing or able to qualify for a brand new one.

Is your credit up to snuff?

To qualify for the most competitive auto financing in Canada, your credit score should be north of 700; the higher, the better. Do not let a low credit score hold you back from making the switch; we live in truly interesting times.

Gas prices are rising, and so to are interest rates; as the Bank of Canada tries to tame inflation by raising interest rates, it causes widespread economic hardship throughout the economy.

This pain is exacerbated when you go to fill up the car; you have less money to spend on gas because of rising interest rates but gas prices go up because of inflation and federal carbon taxes; it is a vicious circle.

When you get a hybrid, at least you are reducing the amount of gasoline you are burning, plus you are able to lock in a lower interest rate; at least you can if you move forward and secure a loan before the Bank of Canada jack things up.

The premier source of expert advice when buying a hybrid

When shopping for a hybrid, EV, or any other vehicle, the best source of expert advice is not found online; you can find it at your local car dealership.

You should spend a few moments reviewing all of the various dealerships in your area and pick the one that has the largest base of satisfied customers.

When you have identified that dealership, your next step is to contact them and schedule an in-person meeting.

The dealership will shop around the entire Canadian auto loan market and identify the lenders that will provide you with the most aggressive terms based on your financial snapshot.

Not only is the dealership able to get you approved today for a car loan, but they can show you how to raise your credit score so you can refinance the loan in the future if interest rates ever come back down.

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