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Pro Tips for Buying a Used Car from a Dealership
Did You Know? When it comes to buying a used car, most people choose a franchised dealership over private listings. Why? Many consumers feel uneasy about the uncertainties that come with buying from a private seller. Purchasing from a reputable dealership like us at Lava Automotive brings peace of mind, knowing you’re backed by a trusted source dedicated to delivering quality and transparency.
Our finance experts can help you explore different scenarios before making a decision. This is one of our top tips for buying a used car—make sure you fully understand the impact of financing on your total cost. These factors vary depending on the vehicle, and **our team can help you estimate** the financial impact of your choice.
Investigate: Tips for Buying a Used Car
Once you’ve narrowed down your options, it’s time to dive deeper into your research. Here are some of our top **tips for buying a used car** so you can make the most informed decision:Mileage and History:
What’s the vehicle’s mileage? **We** provide access to comprehensive service records, giving you insight into its past care.Reconditioning:
Has the dealership reconditioned the vehicle? **We** believe in transparency, so **we’ll** share what repairs or replacements were made.Maintenance Costs:
Consider future maintenance costs. **We’ll** help you evaluate remaining wear on items like tires and brakes, and check if any major services are approaching.Accident History:
Has the vehicle been in an accident? **We** provide honest information about any past incidents, so there are no surprises.Previous Usage:
Where did the vehicle come from? **Our team** can tell you about prior owners and help assess any potential rust or wear concerns.Ex-Rental Cars:
These can offer great value. **Our ex-rental options** are well-maintained and often still under warranty, combining quality and affordability.Dealership Reputation & Policies
After researching the vehicles, let’s explore our dealership’s reputation. Check out **Lava Automotive’s reviews on platforms like Google** to see how we treat our customers. You’ll find that **our commitment to customer satisfaction** speaks for itself! We also have great dealership policies to make your experience worry-free:Money-Back Guarantee:
**We offer** a 72-hour money-back guarantee if you decide the vehicle isn’t right for you.Exchange Policy:
**Our exchange policy** allows you to swap the vehicle within 14 days if it doesn’t quite meet your needs.Warranties:
**We** provide warranties on major components, including a powertrain warranty to cover basics like tires and brakes.Finance & Down Payment Options
When considering financing, it’s crucial to look at both your monthly payment and the total cost of the vehicle. **Our financing team** is here to help you find a plan that fits your budget. Adjusting the loan term, down payment, and interest rate can significantly impact your overall expense. Here’s a quick breakdown:Customer | 1st CUSTOMER | 2nd CUSTOMER | 3rd CUSTOMER |
---|---|---|---|
Purchase Price | $25,000 | $25,000 | $25,000 |
12% Tax (PST + GST) | $3,000 | $3,000 | $3,000 |
Total Purchase Price | $28,000 | $28,000 | $28,000 |
Down Payment | $0 | $0 | $5,000 |
APR | 5% | 10% | 10% |
Term in Months | 60 | 72 | 72 |
Monthly Payment | $645 | $519 | $426 |
Interest Paid | $2,951 | $9,348 | $7,879 |
Total Cost | $29,722 | $35,014 | $33,345 |
What is a Good Interest Rate?
In Canada, financing terms for used vehicles generally follow these guidelines:- 1 year old: maximum term of 96 months
- 2-3 years old: 84 months
- 4 years old: 72 months
- 5 years old: 60 months
- 6-7 years old: 48 months
- Older units: generally 36 months (if available)