Follow these few quick tips to make sure you get what you really want (and need) from your new car.
Get pre-approved for a car loan before you shop
Save time and stress by going in knowing what you can afford to spend. Just as you’ll shop around for your new ride, you’ll want to shop around for the best rates from potential lenders.
Check with several lenders to get the lowest interest rate. Once you have loan approval, you'll know how much you can spend. You'll also have an interest rate you can use to compare with those offered by the new car dealer's financing. In some cases, the dealer may offer the best financing option.
Check how much each car on your wish list costs to insure
Some car brands are more expensive to insure than others. Fortunately, the Insurance Bureau of Canada (IBC) has a rating system to help determine how likely a specific type of vehicle will be involved in a claim. Choosing a car with lower risk should help manage your cost of insurance.
You should absolutely consider this, as your car insurance costs could make or break your budget and influence the car you buy.
Incidentally, your insurance can be less expensive across the board if you choose digital direct insurance, like from Onlia. And Onlia car insurance can be even cheaper if you drive with the Onlia Insurance app that can put up to $600 cashback in your pocket every year.
Look for safety features
Ultimately, this is the most important aspect of any car purchase, new or otherwise. And new cars have some impressive safety technology that typically improves with every new model release.
You should not consider a vehicle that doesn’t have:
- Adaptive cruise control. It detects vehicles ahead and adjusts speed to maintain a safe following distance.
- Adaptive headlights. As you turn, these headlights adjust to light the road ahead.
- Automatic parking. Sensors detect obstacles and adjust steering to guide vehicles safely into parking spaces.
- Backup cameras. They help you see behind your car to avoid collisions.
- Forward collision warning. Radar, lasers or camera sensors detect when a crash is about to occur, alerting the driver. Some systems automatically apply the brakes.