Canada Motor Car Toronto, Used Car Financing

Buying a Used Car

Toronto Area Financing Advice

Going out to buy a used car is a totally different experience than buying a new car. A new car showroom compared to a used car lot is the first of many differences. From sketchy individuals selling cars on the side of the road to the little independent lots around the city and even up to the pre-owned car lots at major dealerships, the used car business is still loaded with questionable methods. Here are just some of the variables that will have to face while you are shopping for a used car.

Begin by realizing that every used vehicle is an original. There is no factory that you can call and order up what you want. Every used car has a story. You won’t find an identical car down the road like the one you are currently looking at. You may find one that is the same year and the same color but the difference in condition can be huge. A perfect vehicle might sell for $17,000 while the same year, make, and model may sell for half that with high miles and hidden damage.

Although the Canadian Black Book does provide a guide as far as prices are concerned, there are no fixed wholesale values or selling prices like you have with new cars. Shopping the price on a used car will be at the very least difficult. The asking price I always fluctuating and is likely to change once mention of a trade comes up. Unfortunately, the formula for finding the perfect vehicle does not exist. You may find a true gem at a run down lot and you may very well purchase a total lemon from a new car dealer. It would be a mistake to assume that independent dealers are all crooked and at the same time, you can’t automatically trust the new car dealers either.

Take the time to thoroughly check out a used vehicle. Each use car has its own history. Sometimes, although two used cars may look exactly the same, the difference between the two may be astronomical as far as reliability goes. Most people judge a vehicle by how it looks making decisions that involve thousands of dollars on appearance alone. Take the time to inspect the vehicle. Do a background check- accident report etc. Ask lots of questions. Don’t allow your emotions to run the decision making process!

Depending upon the year and mileage, financing rates vary greatly between used cars. Don’t be surprised, depending on your credit, if the rate varies as much as twenty percent! Basically, the way it works is, the older the car or the higher the kilometers, the higher the interest rate. Interest rate is a reflection of the risk the bank assumes. The older the car, the higher the chances of it breaking down. Repairs can sometimes be costly and may cut into the budgeted loan repayment for the bank.


Welcome to Canada Motor Car Toronto!

Whether you are looking for a bad credit car loan or just a great used car in the Toronto region, Canada Motor Car has the experience and the selection to help you. We currently have three convenient locations to help you find the perfect vehicle: Toronto, Ottawa and our newest location, Cambridge!

We have helped thousands of people in the Toronto region who had bad credit obtain auto financing for their new and used cars. Canada Motor Car's Toronto auto loan specialists are here to help you apply for an auto loan, regardless of your current credit situation. We have on-site auto finance managers ready to help get your car loan pre-approved! With so many people applying with us for their car loans, we have become recognized as one of Canada's fastest growing dealer groups!

Feel free to browse our used car inventory, for Toronto used cars, to find the vehicle of your dreams. You can search our new and used car inventory online and receive free no obligation price quotes. We also accept trade-ins. In fact, we love trade-in vehicles! Tell us about your current car and we will make you an offer! We have onsite experiences auto appraisers.

If you want some valuable background information before making any decisions, be sure to check out the informative articles regarding credit, vehicles and general car maintenance and tips. That information has been taken from our many years in the auto industry. If you still have questions look over the frequently asked questions to see if they're already covered.

Contact the Canada Motor Car Toronto location at 866-622-2475 today! You may also request information online or stop by at 2944 Eglinton Avenue East, Scarborough, Ontario, during regular business hours. Canada Motor Car Toronto is here to help you with all your auto needs.

Canada Motor Car Toronto proudly serves the following communities: Toronto, Scarborough, Pickering, Ajax, Whitby, Oshawa, Courtice, Bowmanville, Markham, Richmond Hill, North York, Stouffville, Aurora, King, Bolton, Caledon, Brampton, Newmarket, Vaughan, Mississauga, Etobicoke, Port Hope, Cobourg, Trenton, Belleville and the Greater Toronto Area.

Feel free to visit our blog, our directory resources of auto links for all things automotive or our list of partner sites.

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