Tag: car deals canada

Buying a new vehicle is an exciting experience for many reasons. You now have a valuable asset under your belt and you have the convenience of going places not feasible without a vehicle. Prior to purchasing a vehicle, nearly everyone has (and should’ve) done their research with regards to factors such as price, efficiency, safety, and durability. Particularly, car deals in Canada, are what most people research before making the purchase, hence, they seldom go to a dealership with an intent to buy without knowing the basic cost of the vehicles. This research eliminates the shock of hearing the price tag of the vehicle you so badly want because you already know the ballpark.

While most of us know the price of the vehicle we are going to purchase is, we tend to put aside future costs that are necessary for owning a vehicle. The biggest investment when it comes to purchasing a new vehicle, aside from the price of the vehicle itself, is auto insurance. In Canada, every vehicle is required to be insured- no exceptions. The price of insurance is based on a plethora of factors and it is imperative to research this component of purchasing a vehicle as well.

What factors determine your auto insurance rate?

The car/model you drive

This is one of the primary factors that sway your insurance premium. There are many key metrics that determine what your insurance rate will be. Prior to deciding what amount of premium should be set, every car is first field tested in a variety of aspects; the likelihood of it crashing, the likelihood of passengers getting injured in the crash, the likelihood of it getting stolen (cars that are on the most-stolen list will have a higher insurance), etc. Insurers also assess how powerful the engine is, as in many cases, cars with a powerful engine are more prone to crashes when operated by inexperienced drivers.

Past driving record

Good drivers usually pay less because the likelihood and frequency with which they submit a claim are very low. If you have received any tickets or convictions regarding your actions behind the wheel, your premium will increase quite drastically. Moreover, your premium will also skyrocket if you are a new driver as seasoned drivers are regarded as having more experience on the road and are unlikely to encounter accidents. There are some insurers who provide accident forgiveness, which means that there will not be a hike in the premium for the first accident.

Where you live

Your place of residency has quite a significant effect on your premium. For example, if you live in a highly-populated area, such as Toronto, your rates will be a lot higher than if you were to live in a rural area with a lower population, such as Belleville. If you are in a highly-populated area, you are more likely to be involved in a collision due to an influx of congestion.

Your current age

rates are typically higher for those under 25. The lower age demographic hosts new drivers, young adults who may feel “invincible” behind the wheel, and G1 and G2 class drivers. Rates drop when a person obtains their full G class license and again when they turn 25- provided they maintained a clean driving record prior to.

The age of the vehicle you drive

the type of car you drive and it’s age play a critical role in determining your premium costs. The older the vehicle, the more likely it is to incur maintenance. The more luxurious a car is, the more it will cost to repair, thus, rates will be more expensive. There are many new cars on the market that boost lower premiums whilst providing the comfort and convenience.

What cars are the cheapest to insure in 2018?

The Group Rating Panel is the de facto system through which car models are assigned to a pre-set insurance group ranging from 1 to 50. 1 indicates cars that are very cheap to insure and 50 indicates those cars that come with exorbitant insurance rates. Here’s a list of the cars that fall under the lowest auto insurance group.

Nissan Micra

Shaking off the clunky exteriors of its predecessor, the Nissan Micra is one of the cheapest cars to insure depending on your driving history and a host of other factors.

Volkswagen Polo

The sixth generation sedan is another fixture in group 1 and many of the company’s models fall under this category.

Ford Fiesta

A crowd favourite, the Ford Fiesta is a prime example of a quality car that can be cheaply insured. Two of its style trims fall under insurance group 2.

Seat Ibiza

The 1.0 litre S and SE iterations of the Seat Ibiza fall under insurance group 2. These handy cars have impressed critics and are everything you could possibly hope to have in a small car.

Hyundai i10

Insurance-wise, the i10 is much cheaper than the previous models and is perfect for new drivers as it falls under the first insurance group.

Looking for a new car? Request a free dealer invoice report!

A dealer invoice report is absolutely essential to stay informed before purchasing your new car. Car Cost Canada provides reliable, trusted and professional reports that keep you in the loop and ensure that you don’t regret your purchase later on. Call us today at 1.866.453.6995 and we’d be happy to help!

Sometimes a little change doesn’t hurt, especially if your car is old or breaking down, you might be obligated to move on to your next automobile. The joy and excitement of buying a new vehicle can come with many circumstances. You want to be able to buy something that is suitable to your lifestyle and perhaps a car that you may find an interest in driving. One main part of the shopping process is finding a price that fits within your budget. Finding car deals in Canada can be easily done by using the services provided by CarCostCanada. We offer free invoice car reports for the appropriate Canadian listing prices of vehicles. Our easy step-by-step guide will enable your shopping experience to become trouble-free. You may think to yourself if there are other pertaining methods that could be used when buying a new car. Well, unfortunately, most of those word-of-mouth methods are actually myths. This article will outline the following myths that you may or may not have heard about.

Don’t Believe Everything You Hear

Our friends and family usually give us advice about life, or even advice about how and when to buy a new car. Many of this counseling information is not exactly proven to be true, and some of them are just plain wrong. Before asking yourself multiple questions about what tactics to use, here is a list of the top 6 myths about purchasing a new car:

Myth 1: You’re more likely to be taken seriously if you inform the seller that you’re paying in cash – Absolutely wrong, this is not a tactic that dealers will fall for or are willing to negotiate. Don’t assume that because you are offering cash, you will get a better price. Believe it or not, if they have your cash offer and the same price offer from another customer that is financing, they will accept the offer from the client who is financing every time because of the incentives.

Myth 2: Buy the car today, or say farewell to the deal – There is no race or stopwatch while looking for a new vehicle to purchase. Unless the car you’re looking into is in short supply or there’s a sale going on, you’ll be able to find comparable, or even better, deals in the days to come of your search. Either way, whether it’s a lower interest rate rather than a rebate, the overall price difference won’t vary by too much.

Myth 3: Accepting the rebate is always desirable – If you are a long-term investor, someone who purchases a car to drive for many years, making payments with a 0% loan may be the preferable option you are looking for. This myth will oftentimes hold up for those who are not long-term investors, but rather short-term buyers who like to switch up their cars from time to time.

Myth 4: Don’t ever make the choice of financing at the dealership – Contrary to what you may have been told, most dealerships have agreements with credit unions. What this essentially means is that you can get the same rate your local union offers. It can actually save you a lot of time, money and the unnecessary stress. More often than not, the rate can actually be even better.

Myth 5: Waiting last minute will get you the best offer – This most definitely qualifies as a myth because this is not something you can always depend on. Take for example your local dealership, they are down to its last few cars and on the brisk of meeting the manufacturer sales goal. If you buy something in stock, you may be able to pay a slightly lower price. However, if they’ve already reached their limit, then the deal on the last day of the month will probably be no different than the one you would get on the first.

Myth 6: Don’t mention the trade-in vehicle until you finalize the cost of the new car, then spring it on the salesperson – This is not the first time a salesperson has heard of this strategy. This tactic almost never works, the most effective approach is to compartmentalize the deal. Know the price of your trade-in by doing your research to get its actual worth. If you don’t completely agree with the offer for your trade-in, pursue other trade-in options.

Always buy when it’s most convenient and financially feasible for you. Check out CarCostCanada for your free invoice report today! Save yourself from the hassle of negotiating.