Guide to buying a new car
Before You Buy A New Car
Buying a new car is exciting, but it’s also a major purchase. You want to make sure you’ve done your research and considered all important factors and information before you sign on the dotted line.
Here are some points to think about before you start the buying process.
- Think about your wants and needs for a car - do you need many seats for carpooling? Do you want high-tech features e.g. Bluetooth? How much trunk space do you need?
- Determine your budget for the car, taking into account total cost of ownership, i.e. car insurance, fuel economy, etc.
- Research cars on the autoTRADER.ca and Autos.ca websites. Use the autoTRADER Compare Tool to compare different car models on features, exterior, specs, safety and price.
- Consider factors like fuel economy, reliability, safety performance and total cost of ownership. You can also review safety test results for cars on the autoTRADER YouTube channel
- Think about whether it makes sense to lease or finance the new car. Consider factors like how much down payment you can afford, interest rate differences in leasing vs. financing, how much you’ll drive each year, monthly payments you can afford, how much wear and tear you expect for how you’re going to use the car e.g. transporting kids, pets, etc. Keep in mind that with leasing, you don’t own the car at any point in time.
- Use online financing and leasing calculators to determine monthly payments taking down payment into consideration.
- If you’re replacing your current car, list it on www.autotrader.ca to sell it fast. It’s free!
How To Buy