Best Time to Buy a Car in Canada

Changing your car is something you will inevitably do multiple times during your life. The fact that you live in Canada, the second biggest country in the world and that Canadian cities tend to spread more horizontally than growing vertically, makes the point of having a car literally a “must.” So, you will ask yourself a lot of times: When is the best time to buy a car?

Changing your car is something you will inevitably do multiple times during your life. The fact that you live in Canada, the second biggest country in the world and that Canadian cities tend to spread more horizontally than growing vertically, makes the point of having a car literally a “must.” So, you will ask yourself a lot of times: When is the best time to buy a car?

And here is my fast response: it depends on your needs and your rush. That is why in the following article I’ve split the analysis in three: If you want to know the ideal month for new cars, the perfect moment for used cars and the third and last one: if you are in a rush.

Best Time to Buy a Car: September to December for New Cars

If your primary concern is price and you are looking for a new car, the best time span of the year is between September and December. And more precisely, the best moment is November.

The fact that new models are being delivered and parking lots need space, makes manufacturers offer incentives for previous year’s models with the intention of attracting customers to drive these away. Sometimes, you can find a few thousand on MSRP savings with incentives that are really worth.

Additionally, during February and March, usually a low sales season, new car prices also go down a little bit but never compared with the levels reached during the last quarter of the year.

Nissan Canada sometimes offers the Rogue during October-November with 4,000CAD savings incentives.

Anytime for Used Cars

A new car is the same anywhere: you go to dealer X, Y, and Z and they all have the 0 Km same vehicle. Wherever dealer you go, you will get the same exact “clone.” But used cars are different. Buying a used car is more a matter of opportunity than timing. Any time in the year you can find different used car offers as these aren’t globally managed by a massive market flow.

Looking for a Used Car: Don’t Rush If Possible

While I’ve talked about it on other articles, you need to remember that even with the same exact kilometers, same precise date of maintenance and being in similar weather conditions, vehicles depreciate in different.  Cars are used differently: bumps, driving habits, breaking hard, breaking slow, high speeds, low speeds… there are multiple factors that affect the actual condition of a vehicle. And all this can result in the fact that both “brother” cars have different costs.

If you are looking for a used car, don’t rush. The ideal time span you should use for exploring alternatives is 3 – 4 weeks of 10 hours a week of search. The fact that you have found a desirable offer doesn’t directly means that you should go with it. We have all been there and that “opportunity feeling” influences a lot on making a decision.

Propose Yourself at Least 10 Options on a Spreadsheet

One thing that helps a lot not to rush and be happy with whatever decision you make at the end is to put as many options as possible on the table. Yes, an actual “data table” or spreadsheet. If you propose yourself to get up to, let’s say, ten choices, then you can be sure that you will make an excellent final decision.

Take your time, don’t rush, and do a table with all available options before saying “Deal!”.

Urgency? Yes, sometimes it is urgent…

If your current car is broken, you have the “urgent need” of having a car, or you just some eventuality is rushing you, then I suggest you analyze the following before jumping into any decision. 

  • If your urgency is because of work, consider evaluating the monthly costs of a lease for a new car.
  • If it is because you need more space because of a new family member, work reasons or just upgrading for space, consider SUVs available under 500CAD/month.
  • If you are considering used vehicles, take at least two weeks of intensive search. The more time you take and the more options you see, the better decision you’ll make.
  • If your car is broken and you urgently need one, consider renting another one for a few days while you decide. 

The best choice will always depend on how clear your judgment was at the moment of closing your next car deal. Good luck!

About the author

Jorge Diaz is a passionate car lover, winter driver & Software Engineer. For the last 10 years, he has built Online Solutions used by more than 5,000 companies across the globe. He founded LeaseCosts in 2016 with the purpose of simplifying and helping people to better understand the complex market of new vehicles in Québec and Canada. You can connect with Jorge in LinkedIn or send him a direct message.

Article reference:

Buying a Used Car: How to Choose a Payment Option

When the time comes to buy a used car, there are many financial factors to consider. Perhaps your budget will narrow your used car choices, or you may not be aware of the payment options available. We are ready to show you some ways you can pay for your vehicle and to show you that the make and model you desire most may well be within your reach if you plan carefully.

Consider the Time Frame

As you consider payment options, one of the first factors you might want to think about is how long you will be paying for your car. Whether you secure a loan through the bank or choose in-house financing with us and depending on your credit, your loan could be as brief as two or three years or as long as five. It is important to understand the exact terms of the length of your loan before you sign off on a vehicle.

Give Yourself Time

Even if you find yourself needing a new vehicle for your commute to work or school, you should avoid jumping into a deal right away. Take the time to consider your options, as this may help you avoid hefty payments that might be hard to handle later on. For example, ask yourself whether your current car is a valid trade in or if you can secure a down payment that may help lower the cost of a vehicle.

Review Your Budget

One mistake many people make when they shop for used cars is to miscalculate how much they can afford to pay monthly. To avoid this error, you will need to factor more than just the car payment into your auto ownership budget. The cost of insurance, gas and other taxes and fees that will need to be paid when you purchase a vehicle should all be included in your budget to ensure you do not overextend it.

Buying a used car can be a challenge, especially if you are unsure of your payment options. However, being prepared and asking the right questions can help you get the car you want at an affordable payment.

Getting the Best Interest Rate on a Used Car

You’ve narrowed down your search for the perfect used car for your needs and budget and are ready to address your finance options. If you won’t be buying the car outright, you’ll need to finance it, which means paying interest. To avoid paying more than necessary for used cars, you’ll want to keep your interest rate as low as possible, which you can easily do with a few good tips.

Think About Financing Through the Dealer

While you might think financing your car through a dealer is automatically more expensive, the truth of the matter is that doing so could net you a pretty solid deal. This is because dealerships can offer incentives like zero-percent financing and other specialized low rates. Check to see what’s on the table before you think about financing elsewhere.

Consider a Certified Pre-Owned Car

It seems counter intuitive, but older cars usually come with higher interest rates when compared to newer models. Instead of thinking you’re better off with a new model, consider the fact that dealerships sometimes have zero-percent interest specials on their certified pre-owned cars. Be sure to ask about them as you’re walking up and down the aisles checking out cars.

Consider Your Term Length

If it’s at all possible, get a car loan with the shortest term length possible. The reason for this is that a shorter term length equals a shorter repayment length, which means a lower amount of interest paid over the life of your loan. Another great thing about getting a term length as short as possible is that you don’t have to worry as much about being upside down on your loan, which is what happens when you owe more on your car than it’s worth.

As you can see, there are several things you can do to keep the interest rate low on your used car. Be sure to put these tips to good use.

Smart Shopping for Used Cars

When you’re looking at used cars, the first one on the lot to catch your eye won’t be the minivan. That sports car with its smooth lines is going to wink at you and call you out for a high-powered spin. However, one surefire way to end up with buyer’s remorse is to buy a car that doesn’t work for you.

One of the most important factors in car shopping is knowing what you can afford. Before you even call the dealer, have a clear idea of how much car you can afford and how much you can put into a down payment. If you are taking out a loan, have your financing arranged.

Then, assess your vehicle needs. Do you have a family? Will you be chauffeuring the kids to school or frequently carrying passengers? If so, a two-seater probably isn’t the ticket for you. Instead, you will want to look at used cars with extra space and plenty of safety features.

You should also account for the weather in your area and the types of driving you do. If you live in a mild climate and spend most of your time on paved roads, you do not to worry about features such as four-wheel drive. If you do live in an area with severe weather or bad roads, make sure you select a vehicle with the clearance, power, and traction to get you safely to your destination.

Finally, decide whether fuel economy is important to you. If you are on a tight budget, do a lot of driving or want to minimize your impact on the environment, choose a car that gets efficient gas mileage in town and on the highway.

If you have unlimited funding and plan to spend your days speeding along sunny coastal roads, go for it. Heed the sports car’s siren call. If not, you should plan carefully before setting out to look at used cars to make sure you end up with a vehicle that truly meets your needs.

Why You Should Finance Through a Used Car Dealership

If you’ve been looking at used cars but are worried about how you’ll finance one, consider doing so through the dealership. Financing your used vehicle purchase through the dealer offers several advantages.

It’s Easier to Do

If you try to finance a used vehicle purchase through a traditional lender, you could find yourself stuck. Between gathering all the proper paperwork, talking to the financer and waiting for a response, you might be immobile for days or longer. This is especially detrimental if you need a vehicle right away to get to work or to handle other responsibilities. Dealership financing usually offers more flexible interest rates and better warranty offers, not to mention the ability to drive a car off the lot the same day.

You Could Find Better Options

Dealerships sometimes provide rebates or credits that you wouldn’t receive if you went through a traditional lender. You could receive much lower interest rates for the first few months to a year. In addition, extended financing might be an option, which will make it easier for you to pay back your loan over a number of years if you can’t afford the larger monthly payments commonly associated with receiving financing from a bank or other lender.

Financing Is Available for Those With Bad Credit

If your credit is less than perfect, you aren’t very likely to receive a loan from a non-dealership lender, and if you do, you’ll probably have much higher interest rates or other “penalties” tacked on. Dealerships are more willing to work with people who have bad credit. You will likely still have a higher payment or interest rate initially, but you will also be able to refinance within a few months, which is not usually an option with other lenders.

Even something as simple as checking review from former customers could keep you from making a bad decision.

Why Buying from a Dealer Makes Sense

When you go looking for used cars, you have the option of going to a dealer or a private seller. There are arguments to be made for either, depending upon your situation, but we believe for most people going to a reputable, established dealership is the top choice. Here are the main reasons why buying from a dealer may be in your best interest.


A Broad Selection of Quality Cars


Every day on our lots we offer a fine choice of sedans, hatchbacks, SUVs, crossovers, trucks, minivans, coupes and other vehicles. There is no need for you to drive all over town looking at one car at a time. We have everything in one place. All of our cars have been inspected by our mechanics and are in excellent condition when we put them out on the lot. You know when you select a vehicle from us that it is in great shape, which is not always the case when buying from an individual.


Financing Options


We offer financing for our cars, something that could be difficult to obtain from a private seller, especially if the car is over five years old, or if you have credit issues. Our office staff will work with you to come up with the best deal for you in terms of interest rates, low down payment and a manageable monthly payment. Out staff will also help you with all of the paperwork associated with buying a used car.


Maintenance Support


We service all of the used cars we sell so there is no need for you to look for a reputable mechanic. We provide routine maintenance in the form of oil changes, as well as tires and wheels, brakes and steering and engine work. Our maintenance staff is experienced in keeping your vehicle running and we offer convenient hours to fit into your busy schedule.

Some Things to Ponder Before Buying a Used Car

Your current car is failing, and you realize you need to make a move on a new car before you’re stuck taking the bus to work. If buying a new car is out of your financial grasp, a decent used car might be your best bet. It’s important to avoid making a hasty decision when purchasing any type of car. With some preparation, you’ll have peace of mind as you go about your car search.


Take It for a Spin


You and your new car will be spending plenty of time together. You want your ride to be comfortable, but, most importantly, you want it to be safe. Before you make any decision on a car, you should test drive it at least once; ideally, it would be best to test drive it multiple times. When you are taking a test drive, it’s important to explore a variety of surfaces to see how the car handles under different circumstances. The car might handle well on highways, but you need to see how it would handle in stop-and-go traffic and on hills.


How Much Does the Car Really Cost?


The sticker price you see on the car is one number, but when you buy a used car, you have to consider the cost of maintenance and general upkeep. Research the make and models of the used cars you are interesting in buying. Check to see if there is a certain part that tends to be vulnerable and needs to be replaced frequently. If it looks like an expensive part is constantly failing, it’s probably better to go with a different model.


Do an Inspection Before You Buy


When you go to a lot and look at multiple used cars, it might be hard to remember what to look for in each car. An inspection checklist is a great tool when you are looking for a used car. In case you forget something, you always have your list to refer to, and you can check things off of it as you go about your car search.

Treating Your Used Car Right

Many people find that buying a used car is more economically sound than buying a new one. In terms of initial price, this is true. However, the fees associated with the upkeep of an older car can sometimes dissuade potential buyers from going through with the final purchase. Luckily, with the help of the right mechanic and proper preventative maintenance for your used car, you can save money and keep yourself on the road for years to come. Our business aims to help customers make the most of any vehicle, and knows the special used car service that some older models require. If you’ve purchased a used car and are keeping it up on a budget, here is where your priorities should lie:

Basic Functions

The top priority of any car should be safety, closely followed by the ability to function. Airbags, brakes, transmission and other all-important features should be what you take care of first. With our experienced mechanics and fair prices, we can offer great used car service in these areas in order to ensure that you and your ride can stay on the road safely. In order to next ensure reliability, you should also maintain the engine, timing belts, tires, fuel lines and radiator hoses. All of these are all integral parts of a car’s functionalities, and with age they tend to be more prone to failure that could leave you stranded.

Regular Maintenance

While used cars do need some special care, there are certain services that should be applied to every car on a regular basis. This category includes oil changes, tire rotations and topping off any fluids (such as transmission fluid or antifreeze) that might be running a little low in your vehicle. This will help to prevent unforeseen overheating, loss of steering capability or potential flats or blown tires that could leave your car temporarily without the ability to function. These are routine maintenance needs, and our business provides excellent customer and car care for these services.

While buying a used car is a huge decision, the right business with the right used car service can make all the difference with your experience of owning an older car. We seek to offer the best service available, while looking out for the needs of both the cars and our customers.