There are many reasons to buy a used car, and one of the most important is the pre-depreciated purchase price. Many savvy buyers are accustomed to purchasing lightly used vehicles or cars off lease, as the original owner has already bared the brunt of the cost of depreciation. As a vehicle ages, the depreciation curve tends to flatten with time assuming adequate upkeep and consistent kilometres travelled on an annual basis. Off lease used cars typically have fewer kilometers and less wear and tear as the mileage is annual travelled and overall condition requirements through the lease are mandated by the original purchase agreement. Previously leased vehicles also tend to have undergone a more stringent maintenance schedule while under the lease agreement. These are all benefits and factors to consider when purchasing a used vehicle. Used cars in general come with a sense of history – you’re getting a vehicle that’s been through its paces, tried and true. Albeit a new car of course has its benefits however, it’s easier to get a true understanding of what the ownership experience will be like using the vehicle’s history as a bench mark. Used cars also offer a number of benefits that can make them a good investment, including the fact that they’re generally less expensive than new cars, and more often than not can still offer most of the modern-day amenities as a new vehicle. Auto manufacturers typically don’t replace the model for an average of about 5-7 years, meaning you can get very similar technology and a current body style vehicle at a fraction of the cost. Lastly, if you’re shopping lightly used, you should definitely consider purchasing a vehicle that is still in the manufacturer original warranty period. Should any issues arise, any remaining warranty will certainly come in handy to have any issues rectified before the warranty period has lapsed. Purchasing a reputable extended warranty is also a great resource, should you have plans to keep the vehicle for an extended period of time.
People often buy used cars for a variety of reasons. Some people may want to save money, others may prefer to buy a pre-owned car that still has plenty of life left, and others may simply prefer used cars over new ones. Any of these reasons could be enough to justify buying a used car.
Types of Used Cars Available in Toronto
There are many types of used cars available, specifically in the Greater Toronto Area. The GTA is actually one of the most prominent and heavily active auto markets across Canada. No matter what you’re looking for, you can find a car that fits your budget and your needs, everything from small cars, mini-vans, large SUV’s, trucks and heavy-duty commercial vehicles, and everything in between. You can also find similar cars with different options, features and trim levels, such as heated seats, ventilated seats, gesture control, sunroofs, etc.
If you are looking for a used car in the Greater Toronto Area, there are a few different avenues to explore in terms of getting what you’re after. You can find cars at franchise and independent dealerships, or you may be interested in taking a look at trying your hand at a private sale. There are a variety of makes and models available, so it’s important to know what you’re looking for before you start your search. Another important consideration would be your method of purchase, such as leasing, financing or cash purchase. Should you be weary of whether you can really live with the vehicle you’re interested in. Feel free to ask your local dealer for an extended test drive or you can also consider a short-term rental vehicle to truly get an understanding of the day-to-day liveability and practicality that the car can offer you. The most important thing is to do your research and know what you can afford based on your purchase method. There are many great deals on used cars across the Greater Toronto Area, however it’s important to do your due diligence be vigilant when purchasing any vehicle.
Tips for buying a used car
There are a few things you need to keep in mind when buying a used car in Toronto. First, always do your research and know what you want before you go out looking. It is very easy to be swayed into something that you otherwise would not have purchased, while caught up in the romance of purchasing a new vehicle. Second, it’s important to get a sense of the marketplace, always try to negotiate, however be prepared to compromise. You’re looking for a good deal, but so is the dealer, the idea is to come to a mutually beneficial agreement. Private sale cars typically have some wiggle room as the seller typically doesn’t need to invest in the vehicle to prepare it for resale, therefore don’t be afraid to ask for a price adjustment. Finally, make sure to take the car for a test drive and have it inspected by a reputable repair facility as a condition to the sale. This will help ensure a smooth transaction for both parties.
How to Evaluate a Used Car Before Buying It
When looking for a used car in the Greater Toronto Area, it is important to take the time to evaluate it before making a purchase. Here are some tips to help you do just that:
1. Check the body for any visible damage or rust beginning to form. Rust can be a sign of poor exterior maintenance, and may also indicate that the car has been in an accident and repaired under par.
2. Look under the hood and inspect the engine. Make sure there is no oil or fluid visibly leaking, and that all of the plastic and rubber components are in good condition.
3. Test drive the car. Drive it on different road surfaces and make sure there are no noticeable noises or movement in the suspension components. Be sure to listen for any strange noises or vibrations.
Conclusion
In summary, you can get a great car for a fraction of the price of a new one, and be less affected by depreciation. There is an abundance of used cars available in the Greater Toronto Area, so you’re sure to find exactly what you’re looking for. Make sure to be aware of what kind of car and what kind of purchase method best suits your needs and be prepared to make a deal. Leverage the sense urgency of the sale with your level of commitment and make a deal with the seller, whether dealer or private. Be sure to follow our tips and tricks not to miss any steps during your vehicle purchase journey.
