What are the strategies for Canadian students to buy a car?

1. First determine the car, sedan, coupe, hatchback, station wagon, minivan, SUV, etc. you want.

2. Make clear the frequency, kilometers and road conditions of driving every day to decide how to buy a car and what car to buy. There are three ways to buy a car: cash, financing and leasing.

3. You can experience the different advantages and disadvantages of the car through test drive+online search.

2 Optional purchase method

Lease (long-term lease)

Lease in Canada can be done for 24 months to 48 months.

For example, suppose a car sells for 50,000 Canadian dollars, and you ask for a four-year lease payment (that is, 48 months);

First, the car dealership will calculate the market value of the car after 4 years. If it is 20,000 yuan, that is, your final payment, then your advance payment is 50,000-20,000 = 30,000;

You can choose 0 down payment for this 30,000 yuan, so you need to pay 625 (30,000/48) every month for four years;

You can also choose to pay some down payment at ordinary times (it is recommended to pay as little down payment as possible if you don't plan to buy a car after renting);

If you make a down payment of 10000, then you will pay (30000-10000)/48 = 416 every month;

One thing here is that the last part of the lease is the market value after four years, so no matter how much you pay down, the last part will not change. It's just that the money you pay each month will be reduced accordingly, and you can also pay less interest.

At this time, the four-year period is up, and you still have the balance of 20 thousand yuan. At this time, you can choose to pay the final payment, you can choose to pay it in one lump sum, or you can continue to do finance!

In other words, you can continue to make ordinary installment payments, and you can pay back the money slowly for up to 8 years; Or you can choose to return the car to the dealer without paying the final payment.

Renting a car is very suitable for immigrants or international students who love to drive new cars or plan to return to China in the future.

To make a lease, you need some conditions. First, you must obtain the financial credit approval of Lease, that is to say, the credit score and economic conditions in Canada must meet the approval of the car dealership financial lending institution. It doesn't matter if you fail. You can find a qualified guarantor in Canada.

Tip: If you buy a car, LEASE will let you choose the annual mileage limit. The higher the mileage choice, the higher the monthly repayment of the lease. This should be chosen according to your actual situation, otherwise the number of kilometers chosen is too small and the price will be high.

Finance (installment payment)

Finance can be done for 24 months to 84 months. The fiance is easy to understand, that is, to pay by installment, but the year can be chosen for a long time, up to 8 years. You can choose to be your fiance directly, or you can rent the last part in 2-3 years before you become your fiance.

Comparison between leasing and financing

Both financing and leasing are 12 months, and the cumulative 12 months is 1 year, 1 year. Pay the down payment first, and then pay back some money every month like ordinary installments.

Both leasing and finance have interest rates. The lease interest rate and financing interest rate will fluctuate differently in different periods.

Generally speaking, the cheapest time to buy a car in Canada is from June 5438 to March, because it snows heavily in winter, and relatively few people buy a car!

Therefore, the loan interest rate1-is the lowest in March and the highest in June-August. Of course, according to different cars and brands, the interest rate will be different.

If you want to save money, wait until one year before each car is replaced, and the interest rate will be very low.

3 Vehicle Shop Ordinance

The so-called know yourself and know yourself can be invincible, but let's take a look at some internal rules of Canadian car dealers!

* As soon as the customer enters the garage door, the rules will come! The salesperson who talks to you first becomes the lifelong salesperson of your car dealership. It is taboo to rob people between car dealership sales. There is a huge market in China now, and almost every car dealership has sales that can speak Chinese. If you want to find the China Sales Exchange, please go to the front desk and explain that you want to find China sales.

* Most Canadian car dealers are privately owned by the bosses of various car dealer branches, but Mercedes-Benz is owned by the head office. If you go to a Mercedes-Benz dealer to make an inquiry and give your name and contact information, if you go to another Mercedes-Benz with the same name, you will probably get the same price, because the computer information is networked.

* You should start the trial run after knowing the sales situation. Pay attention to the test drive, and be sure to try only the cars you are interested in and may buy. Don't be greedy for fun, try one by one, and respect sales and car dealers.

* Sales have no right to determine the price, so it is true that people often see sales go to the manager's office for "approval". But after a long period of mass sales, the bottom line of many car prices is basically known. Going to the manager's office is just a formality.

4 What accessories are worth buying?

Good accessories can increase safety, comfort, resale price and reduce insurance premium. Accessories worth buying are as follows:

* Anti-lock braking can increase driving safety, especially in the case of slippery ice and snow roads. Insurance companies also give discounts.

* Automatictransmission, which is what we call automatic transmission. It's much more convenient to drive without shifting gears. The disadvantage is that it consumes more fuel than manual transmission.

* If you buy a manual transmission, the five-speed is more fuel efficient.

* Rear window defroster (rear window defogger) is absolutely necessary, and it is almost standard at present.

* Airbags are listed as standard by more and more models. You can get an insurance discount. Air conditioning is also worth installing.

* Others such as audio, power seats and windows, constant speed controller, rear window wiper, etc. are optional. In principle, you don't need to buy expensive and expensive accessories.

In addition, if you rent a car, it is recommended to buy insurance for the shape and wheels of the car, that is, when you return the car, the insurance company will help you pay a certain amount of vehicle shaping expenses, because it is difficult for a general car to have no small collision at all, and the wheels will be worn when you return the car. If there is no such insurance, the car dealer will probably ask you to charge a certain fee. You can rest assured that you can buy this kind of insurance.