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Useful Advices for Your First Car Purchase!

When we start becoming financially independent, we quickly become tempted to buy a car to also earn our mobile independence. However, without the proper knowledge, it becomes very easy to fall into beginners traps. In addition, competition is so fierce these days that it is hard to know whether or not we have even landed a good deal. Be warned that there are indeed numerous pitfalls, but they are easily avoidable if you are well informed. Financement Auto Laval, located near Montreal and the North Shore, will provide the necessary help and guidance so you feel confident and knowledgeable enough to purchase your first car in Canada.

First Step, Establish a Budget and Define Your Profile

Before buying your first car, it is important to ask yourself some essential questions. Do you have immediately available funds? On one hand, based on your savings, you may want to opt for the cash purchase of a used or maybe even a brand-new car. On the other hand, if you do not have the required money upfront, you will then have to look for financing solutions. Also, you may want to ask yourself if you plan on using your car on a regular basis (to go to work for instance) or if you will be using it occasionally from time to time (to spend a weekend at your cottage). All these useful questions will help you target the right car that will suit your needs, knowing of course that the more you plan on using your car, the tougher and durable it will have to be. Finally, it is necessary to ask yourself whether you are planning on using your car only for a few years or for at least more than 5 before changing it for a new one. The notion of loan then makes sense because it will be given a specifically longer or shorter period of time depending on the requested amount.

Several Financing Solutions

Nowadays, the simplest solution remains personal credit financing. At Financement Auto Laval, located near Montreal and the North Shore, you will have the option of asking for a car loan, including second and third-chance credits. Here is the opportunity for you to quickly get a loan whatever your situation may be. You will get an answer in 20 minutes!

By choosing to get a car loan, you can borrow the totality of what you need and pay it back over a period of one to five years. Reimbursement is done every two weeks or every month. However, be mindful of the interest rate that your car dealership or your bank will charge you so you do not end up paying too much. Nevertheless, the best way to reduce costs is to provide a strong down payment. Thus, your credit will be small and you can repay it quickly. You can also choose the option of leasing, which consists of paying a certain amount each month (this can be up to five years), and then at the end of your lease you will have the opportunity to either return the car or to buy it at the price listed on your contract. But be careful, know that you are committing yourself to the full duration of this agreement. That being said, should you choose to terminate your contract early, you will incur penalties. In addition, you are fully responsible to take care of the car and keep it in order, and you will be allowed limited mileage each year, otherwise there will be a penalty fee in this case also.

To make sure you make the right choice, trust the advice given to you by Financement Auto Laval, located near Montreal and the North-Shore. Our team of experts will welcome you anytime Monday through Friday from 9am to 9pm and on Saturdays from 9am to 5pm. You can also start shopping among our large inventory of used vehicles in Laval.

Posted on Jan 10, 2018

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