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Buying a Used Car In Ontario 101 – Coming into Winter is the BEST Time to Buy

prudent 1Fall is officially upon us, and the start of a new season often heralds many things. For many, this means a vehicle upgrade – and if one is in your near future, we are keen to assist. Here is some ‘buying a used car in Ontario’ 101 to help you best determine when to shop.

Let us start by saying that the best way to save money when purchasing a used car is to do your research beforehand and having a strategy when you head out to the dealership. The time of year can play a major role in the price that you end up paying for a used vehicle, and so knowing when to shop can save you a significant chunk of change.

So when is the best time to buy? The end of the year, or the winter season in general, is the best time to shop. Why? Dealers tend to drop their prices throughout the year, but on average, the most dramatic drops happen in the winter (December to be more precise). For what reason? A few, but in the winter, when people are less inclined to spend the time walking around outdoor dealerships, dealers have to provide some incentive – the price has to be right! Customers may not spend as much time or visit as many dealerships, so dealers often drop their prices a fair amount to help encourage a sale.

Is price all that matters? Of course it is crucial, but just because a car is a great deal, doesn’t mean it is actually a great car for the price. What do we mean? Well, a car may look as though it is in great shape, and the price may be low, but if the proper inspections have not been done, or if the aesthetics don’t necessarily match the car’s history, you could be driving off the lot with a problem. Or perhaps the car looks great, and the price matches, but you are saving because the kilometres are high. Again, this could mean driving off the lot with a problem. And problems = money.  Just because an issue isn’t readily visible, doesn’t mean it doesn’t exist.

Tips for buying a used car in Ontario:

  • Make sure full e-testing and certification is done
  • Make sure the dealer offers a guarantee and warranty of some kind
  • Look for low kilometres
  • Check a car’s history report to review past ownership, any accidents, liens, etc.

Even more important advice – don’t get in over your head. Don’t fall in love with a car that you may not be able to afford. The key is finding the right car, for the right price, with the right financing terms.  Make sure that you determine what you can afford before going shopping, then you only look and fall in love with vehicles within your means.

At Prudent, we make buying a used car in Ontario easy. Our service means you drive away with a great car, at a great price, with the knowledge that your car will last. We offer used car loans to individuals with bruised credit – even undischarged bankrupts.

For more used car buying tips from the pros, or to find out if you qualify for a used car loan at a great rate, please contact Prudent today at 1.888.852.7647.

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