If you live in Toronto you have probably realized how expensive it has become in recent years. This year alone, house prices rose over 30% since last year. With that in mind, it’s no wonder people need to be very frugal with their purchases. Along with a home, a second big investment is transportation. Now, if you’re lucky enough to not have too long of a walk to public transportation, taking the subway, bus or streetcar is a great alternative to a car. But if you absolutely need a car and want to save some money, getting a decent used car is your best bet. You don’t need to buy anything old, because remember as soon as a new car drives off the lot, it loses 30% of its value instantly. I am sure you have heard that before. So, in this article we will discuss how to get a good second hand car that still looks new and won’t break the bank!
The Steps to Take Towards a Used Car Purchase
You’ll want to decide what type of car is good for you. Do you want a luxury brand? Or, do you have a family and need the extra room? You’ll want to make sure that your needs are met before deciding what type of vehicle to buy. Also to consider, since you live in Toronto you’ll need to drive all year round, so even though a sports car can have snow tires, do you really want to drive a sports car in the winter? As a second car sure, as long as you can store it over the winter months. But, if you need a car for all year round you need to think of the changing seasons.
Luxury Does Not Need to be Expensive
We looked at the websites of some of the leading luxury/European used car dealers in Toronto and realized that you can find some cars quite cheap. If you’re looking to buy a used BMW, Mercedes-Benz, Audi or Porsche, Dupont Auto Centre in Toronto has some sweet deals on these kind of cars that are usually no older than five years. It’s amazing what you can pick up a Mercedes-Benz or BMW for that is only a few years old. To someone that doesn’t know much about cars, they may think that you bought new. Why spend the extra money when you don’t have to right? Here’s the link to a page of their current inventory – https://www.dupontautocentre.com/used-cars-toronto/.
Financing is a Great Option
If you found a car at the many used car dealers in Toronto, then most of the reputable ones will have in-house financing. They should work with a variety of banks to get you the best deal possible. In some cases it just takes a few minutes to find out if you have been approved. You could literally walk into a dealership and an hour or less later walk out having sealed a deal on a car. Leasing is also an option with used cars and you can take the lease over a used car by using Lease Busters. With this service they will help you find a car that is currently on lease with an owner and you simply take over the payments. It’s not a bad option if you are looking to lease a car for cheap.
Getting back to my original point, you’ll want to make sure that the car you decide to buy is the right one for you. A car is a big purchase and even if you get a great deal, think twice before you buy. Are you buying because the sticker price is so enticing you can’t pass it up or are you buying because it’s the right car for you? The latter is so much more important. Don’t be swayed by a “too good to be true” offer. This leads me to my next point, the condition of the vehicle is probably the most important.
Sure, you save thousands buying a used car but you also inherit some risk. If you aren’t careful, you could be buying someone else’s problems. Have the car checked out by a friend or mechanic if you are not sure what to check for. There are lots of things that cannot be overlooked so you really need to know what to look for when buying a used car. Here’s a link to a YouTube video that can help. Watch it carefully and take notes. It can help you avoid a disaster when searching for a used car in Toronto.