According to the Financial Post, the average price of a new car in Canada is C$25,000. Even with the help of auto financing, some Toronto residents can't afford a new car once they factor in the monthly payments, financial charges, insurance costs, and maintenance costs; hence, many opt to buy used cars instead. If you're thinking of buying a used car, take note of the precautionary measures listed below, and you'll be on your way to finding a good deal:
When choosing used cars in Toronto, find out if the car can provide a reliable performance. Ask the dealer if the car had sustained previous damages or if it has been involved in an accident; you can verify this information yourself by visiting carproof.com. A car which has been in a previous collision may not be as reliable or as safe as other used vehicles. Ask a mechanic to inspect the vehicle before finalizing the purchase to be safe.
Knowing the mileage is important when buying a used car that's five years old or older. Ask the dealer for the car's accurate mileage. If this isn't possible, have a third-party mechanic inspect the vehicle to find out if the odometer is in good condition and is accurately displaying the distance the car has traveled.
There are people who sell vehicles for profit without the proper accreditation; to be safe, verify if the car dealership has been accredited by the Better Business Bureau (BBB). Unlicensed dealerships may cover up problems in their vehicles and would likely charge their customers higher rates. A dependable auto dealer in Toronto is BBB accredited—which translates to quality customer service and used cars in optimum condition.
To ensure you're given the best value on your used car, obtain a copy of your credit rating from either Equifax or TransUnion. Knowing your credit score will ensure that you are given fair interest rates by car dealers. Remember this rule: the higher your credit score is, the lower your interest rate should be.
New safety features such as electronic stability control may not be available in much older used cars. However, standard safety features such as antilock brakes, side air bags, and traction control should be available in most used cars for sale. For more information, visit: whatcar.com/car-advice/buying/should-i-buy-a-new-or-used-car-/3485035.
Issues to Clear Up before Buying Used Cars in Toronto