How much does a car in Canada cost on average? The unofficial figure stands at around C$25,000—and that amount of money is no joke to earn, let alone spend. The high cost of living in the country can also take its toll upon prospective buyers, transforming cars from necessities into luxury items many people would have to forego for other more important investments.
But there are ways to own a car in Canada affordably, without any immediate financial hindrances. The first method is to buy used cars, and the second method is to apply for auto loans. Good thing both options are offered by friendly and helpful Ford dealers in Edmonton.
The easy way to own a vehicle while on a budget is to purchase it second-hand. Not only are the prices of second hand cars much lower than the prices of most new cars, buyers will also save money by avoiding the depreciation that affects new cars. New vehicles can lose as much as 20 percent of their value once they are driven off the lot—something which can be avoided, if the buyer goes for a used vehicle. However, if you decide to buy a pre-owned car, make sure that you do your research first so that you won’t fall prey to poor deals.
You could also use a car loan to finance the purchase of the car. By breaking up the full cost into installments, theoretically you could own even the most expensive car there is, as long as you make the monthly payments on time. Those who want to use such loans should be careful about exorbitant interest rates that could inflate car prices, and should go for financing that has reasonable interest rates.
It would be a homerun of a deal if you could combine these two approaches, but is it even possible? It certainly is, and reputable Edmonton Ford dealershipsare sure to offer used cars with favorable loan plans. What was once just reasonably priced has just gotten cheaper, and who wouldn’t want that?
Careful research and preparation will ensure that you make a good investment. With careful planning, you can buy a car that costs much less than C$25,000. For more tips and tricks on how you can buy cars the affordable way, go to whatcar.com/car-advice.
Buying Affordable Used Cars from Ford Dealers in Edmonton