Is It A Good Time To Buy A Car in Canada?
Buying a new car can be an unforgettable experience. That moment of having the keys to that brand new vehicle can be incredibly empowering.
These days, amidst the COVID-19 pandemic, potential buyers are wondering whether it's a good time to buy a car in Canada. With economic uncertainty across the globe and financial uncertainty, is it too risky to be shopping for auto deals in Canada? Is it a good idea to take advantage of all the car promotions going on right now?
Let's explore these questions and take a look at what your best options are if you're in the market for a new or used vehicle.
Is It A Good Idea To Buy A New Car During The Pandemic?
Covid-19 has certainly presented some challenges when it comes to shopping. Masks, hand sanitizer and capacity limits have all made shopping a little less enjoyable than it used to be, and the same can be true for car shopping.
That said, dealerships across the country are offering enticing promotions right now to move their inventory. Taking advantage of these realities can save you a lot of money and hassle if you're in a position to go for it.
Also, at Westminster Motors, you can always check the list of pre-owned luxury with a dynamic-extended warranty and in excellent condition. For those who are looking for reliable British car repair services, including maintenance check-ups, auto body repairs and genuine parts replacement, we are here to help you. Additionally, we have developed unique and customer-oriented Pick Up and Drop Off service for our valued clients within the GTA area in response to the pandemic.
What's The Best Month To Buy A Car?
With many things in life, timing is everything, and it can be no different when buying a new car. Certain months of the year are historically better than others, to be sure. Many shoppers adhere to the rule of "at the end."
"At the end" can mean several things. Because dealerships often run on quota systems where they want to see specific targets hit, approaching a salesperson at the end of a sales cycle can be advantageous.
You may consider shopping at the end of a calendar year or the end of a quarter. Shopping at the end of the month or maybe even at the end of the week can give you the chance to deal with a salesperson in a pinch to hit a specific target.
Is There A Best Day Of The Week To Buy A Car?
Vehicle sales cycles aren't typically structured around a weekly rhythm. However, new research conducted by TrueCar has suggested that Sunday can be the best day of the week to buy a new car.
According to the same study, for dealerships that aren't open on Sunday, Tuesday seems to be the next best time to buy a car.
5 Common Tips When Buying a New Car
If you're in the market for a new vehicle, the process can often be overwhelming. The variety of cars on the market today can feel endless. Having some strategy to go through when purchasing a new vehicle can be extremely helpful. Here are a few tips to keep in mind as you consider buying a new car.
Know What Vehicle You're Looking For
You might not know the exact make, model and trim level you're looking for when you start shopping, but having a rough idea of what you're after is a good place to start.
Knowing your needs and priorities is essential for this process as well. Minivans, larger SUVs or pickup trucks can be great for growing families, but you will likely have to trade off on fuel efficiency. On the other hand, small cars are great if you're looking for fuel efficiency and only doing weekend warrior stuff with a few friends.
Take Advantage of Technology
A lot of vehicle shopping can be done online these days. With the internet at your fingertips, you can check to see what's available and make all the comparisons you want between make and model, price points and whatever options you are looking for.
One of the most significant benefits of online vehicle shopping is the ability to check out reviews. If you're curious or concerned about anything, you can hop on any number of vehicle forums and check out what people are saying about almost any vehicle. Previous buyers are often willing to share their past experiences and let you know if there's anything you should be aware of with certain cars.
Contactless Test Drives
Vehicle dealerships have ramped up their cleanliness game since the onset of the pandemic. With potential buyers being concerned about making a trip to the dealership, car dealers are often willing to come to you. You can be assured that vehicles have been sanitized thoroughly when they arrive and you can test drive with some peace of mind.
Negotiation and Paperwork
After you've done your homework and taken the vehicle, you're leaning towards out for a test drive. It's time to crunch some numbers and negotiate a fair deal. When you're negotiating, it's essential to know what's going on behind all the numbers you see when you look at the paperwork. There should be some wiggle room around the vehicle's list price (MSRP), and be sure to calculate the total cost of the car, including interest and whatever ad-ons you want to include. Things can add up quickly, so make sure you do the math.
Look For Incentives
Whether it's free maintenance packages or even free car washes for a year, some dealers are willing to throw in these little bonuses if you can negotiate fairly. Be sure not to ignore the other more critical parts of the negotiation process, but after that, little incentives like these can be a nice treat on top of driving your new vehicle off the lot.
Used Or New?
Shopping for used vehicles is always an option too. Trying to find a deal privately can be a considerable amount of work. Selection and variety can be tough to find, and there's not much accountability if a deal turns out to be flawed.
Alternatively, most dealerships offer an excellent selection of used inventory. All used vehicles will go through an inspection process before they are made available. You can be confident in the condition of the car, and you'll have someone to talk to in case anything goes wrong.
Is It A Good Time To Buy A Car In Canada?
If you've experienced the fortune of being financially stable coming toward the tail end of the Covid-19 pandemic, you might be in an optimal position to consider a new vehicle. Dealerships are eager to chat about several incentives out there, and riding away in a new car with some peace of mind can be a satisfying return after a challenging year.