Mistakes to avoid when buying a car in Glen Abbey

Mistakes to avoid when buying a car in Glen Abbey

Posted on December 13, 2021

If you are in Ontario or anywhere else in Canada and want to buy a car, there are some key mistakes you need to avoid or run the risk of getting yourself into trouble, as our Glen Abbey auto loans team explains.

Avoid private car sales

In the past, you could buy a used car from a local individual because you know them personally and whether they took good care of their vehicle. Those days are long gone.

When you buy from a private seller, you do not have the same consumer rights you would have if you bought from a legitimate seller. There are rules in place by FSCO that protect consumers but sadly those rules do not apply to private car sales.

The private seller could claim the car is in great condition but it was involved in a major accident, even with services like CarFax, you never really know what you are buying so do not go through a private seller.

Trying to get a low-interest rate car loan online

A common mistake that people make is trying to apply for a car loan online. We have all become accustomed to shopping online, especially with the pandemic.

Online shopping is great for most things but when it comes to buying a car, you are not going to get the most favorable terms online.

The majority of websites that offer car loans are not the actual lenders but websites that capture your information and resell it to lenders. There are identity theft concerns which we’ll save for another time but believe us when we say that online is not the way to go for a great Glen Abbey car loan quote!

Source of best car loans in Glen Abbey

We spend some time on what you should avoid, now it is time to talk about the things you should do.

The first and most important thing you can do is contact a local car dealership.

The dealership may seem like an old-school way of doing things since everyone is shopping online. It may seem counterintuitive but going to a local dealership provides you with some powerful resources.

When you visit a dealership, you will be able to see their current inventory of new and used cars. There is a shortage of new and used cars, but you do not have to worry about that since the dealership already has cars available.

The dealership can also help you get a very competitive car loan. Even if you have a credit score that is below 680 which is required for prime interest rates, you will be able to get a car loan.

(The dealership has experts who can give you advice on how to fix your credit problems and boost your credit score)

These dealerships have a network of lenders they work with daily and some of these lenders specialize in subprime car loans in Glen Abbey. You would never be able to access these lenders without the help of the dealership.

Now that you know what mistakes to avoid and how to buy a new car, you should book an appointment with the dealership ASAP.

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