13 Top Questions to Ask at Your Car Dealership in Edmonton Before Buying a Used Car

Are you planning on purchasing a used car or truck in Edmonton? Before buying a vehicle, you should always be cautious of the product you're being sold, and the best way to ensure you're making the correct decision is to ask questions. Here are the top thirteen questions you should ask your car dealership before you purchase a used car.

What Are Your Financing Options?

Every car dealership offers different financing options. The most typical financing options offer interest rates that range between 6.5% and 30%. Ask the dealership about their financing options and why you should finance with them. The finance manager should be able to build a case, so ensure that they are able to do so.

You also want to buy your car at a dealership that works with several lenders. Lenders want to gain your business, so by negotiating with different lenders, your dealer should be able to get you a better rate.

What Do All of the Financing Terms Actually Mean?

When you're trying to buy a used car, the amount of complicated financing terms could become confusing. Words like amortization, APR, and principal are commonly used in car dealerships, but they can be overwhelming and anxiety-inducing if you don't understand what they mean.

Don't be afraid to ask if you're unsure what a term means. The staff at car dealerships are there to help, and they'll be happy to explain the meaning behind these terms–and usually, they aren't nearly as complicated as you might expect.

How Much Will the Payments Be Each Month?

Monthly payments can vary wildly depending on the year, type, and mileage of the car, the size of your down payment, and where you're purchasing it from. If you put down a small down payment or decide to purchase a car with no down payment at all, your monthly payments will be significantly higher. Newer cars with lower mileage will also require higher monthly payments. 

To ensure that the vehicle will fit within your budget, you should always ask how much you can expect to pay every month. You can also use our online loan calculator tool to estimate your costs.

What's The Car's Mileage and Year?

As a car gains mileage, it also starts to accumulate wear and tear. The average car racks up about 20 000 km a year, so ensure that the car's mileage and year are reasonably aligned. You should also take this opportunity to ensure that the stated mileage matches the mileage shown on the odometer.

Has the Car Been in Any Accidents?

You should always be aware of what accidents the car has been in over the years. Minor incidents like fender-benders are important to note, but this question will also reveal whether the car has needed any substantial repairs or bodywork due to a major accident.

Can I See the Vehicle History Report?

While asking directly about accidents, recalls, and repairs can be helpful, an important part of the car's history might be missed or omitted from the conversation. Asking for the vehicle history report will ensure that nothing slips by you, and you'll find out everything you need to know about accidents, recalls, previous owners, and more.

Are There Extra Fees I Need to Know About?

Always be prepared for extra fees! The price you agreed with the dealership could end up being quite a bit less than the final cost of the vehicle. This is due to hidden documentation or compliance fees, which the dealership might tack onto your final contract. Be cautious of the agreed-upon price–it probably won't end up being the final price.

What Is Covered Under the Warranty?

If you are worried that something might go wrong after buying a used car, look for a car that comes with a warranty. The newer model used cars carry a higher price tag, but they have the benefit of still being under warranty. 

These may include standard warranties offered by the manufacturer with coverage that includes mechanical defects, as well as guarantees regarding the safety of the vehicle. Service warranties are typically designed for new cars and cover options such as oil changes and brake pad replacement. However, some used car dealerships do offer Certified Pre-Owned programs for newer models as an extra incentive to buy. Extended warranties offer up to five years of protection above the standard warranty agreement. 

Check with your dealer about any remaining warranties on used cars you wish to purchase or consider certified pre-owned vehicles for added peace of mind. 

Can I Trade in My Old Vehicle?

Yes, you can! Trading in your vehicle is a great way to save money when you want to buy a new one. Simply visit the dealership. They will do an assessment of your car based on the age, mileage, and condition of your car. We also recommend that you do your own research on similar cars so you have some idea of how much your car might be worth. The trade-in value can be applied as a downpayment towards purchasing your new car.

Is There Room to Negotiate? 

Car dealerships are open to some negotiation when you are looking to buy a used car. However, it’s up to you to let the dealer know why they should lower the price. 

Do some research ahead of time. If you find comparable vehicles at a lower price, your dealer may be willing to negotiate on the price. Also, look at the vehicle report carefully. If you predict doing any kind of maintenance any time soon, you may be able to negotiate a lower price to accommodate these costs. 

Can I Take A Test Drive?

You will want to test drive a used vehicle to see how it runs. You need time to evaluate how it feels. Ask to test drive the car in different environments. 

How do the brakes perform in a stop-and-go traffic situation? You should also drive on the highway so you can test how the car responds when you accelerate, decelerate, pass other vehicles, and merge. How does the car feel? Is the steering comfortable? Make a series of turns to test the sensitivity of the wheel and see how the car reacts. You should aim to spend at least 30 minutes driving, to adequately test the car. 

If you have any questions or concerns, ask the dealer and consider test-driving several vehicles to find a car that you are completely comfortable with. 

If I Have a Poor Credit Rating, Can I Still Buy a Car? 

If you suffer from a low credit score or have declared bankruptcy, you can still purchase a car. While you may not qualify for a loan from a traditional bank, you can apply for a bad credit car loan. Many dealerships offer these types of loans to people who have bad credit. The interest on these loans tends to be higher than traditional bank loans, but they offer a way to build up your damaged credit score so you can get a better rate next time. 

How long Does it Take To be Approved For a Bad Credit Car Loan? 

The process of being approved for a car loan does not take long. Use our car loan calculator to figure out the costs of purchasing a new vehicle or start the pre-approval process today. 

You can speed up the process by collecting certain documents before you get started. Have several months' worth of debit and savings account statements on hand. Lenders may also ask for proof of employment, so a few payment stubs or a letter of employment from your current employer will be needed. Once you have made your application and submitted any necessary paperwork, you could be approved the very same day. 

No Money Down Car Dealership in Edmonton

Contrary to popular belief, having a bad credit score doesn't mean you can't buy a car. Insta Auto Solutions is here to help you find the perfect vehicle, no matter your credit score. Contact us or head over to our dealership in Edmonton, Alberta, to get started!

Rebuild Your Credit With Insta Auto Solutions

Whether you are just trying to find out the value of your vehicle on a trade-in, or wanting to calculate what a car loan might cost a month? Or looking for help with rebuilding your credit, we are here to help! 

Find your next vehicle, secure a loan, and build up your credit with Insta Auto Solutions. Contact us today! We are happy to help you! 

Insta Auto Solutions Offers a variety of conveniently located dealerships including but not limited to Edmonton, St Albert, Acheson with new stores opening in Kelowna, Saskatoon, and Manitoba