Most manufacturers offer special low interest financing programs. These subsidized programs are very costly to the manufacturers. Therefore, quite often, they will offer a cash incentive to buyers who do not take advantage of their low rate financing. Explore your financing options outside the dealership realm, such as your bank or through a credit union. Note that although the dealer may offer a lower rate, arranging financing yourself may qualify you for a cash incentive that you wouldn't otherwise qualify for.
The cost of insurance can fluctuate greatly from one car to another and amongst the dozens of insurance companies in Canada. Know your insurance costs before you buy a car. www.carcostcanada.com, www.freeinvoiceprices.com and www.thecarmagazine.com all have a link to allow you to compare the rates from up to 35 of the top insurance companies in Canada.
Choose to Buy or Lease
Leasing a vehicle was originally an option for the business owner. Over time it has become a way for people to drive a better car that might otherwise be out of their price range. If you regularly trade your car in every few years, or prefer the security of driving a new car every three or four years, you may want to consider a lease. Leasing allows you lower monthly payments compared to financing a new car purchase, which in turn will allow you to get the vehicle you may need or want, which would otherwise be out of your budget. If you plan to drive your car for a long time, leasing may not be for you.
Investigate which choice is best for you. For assistance to help you decide whether you should buy or lease your next new car, an excellent source is the "Leasing info" section on www.carcostcanada.com. Another good site is www.leasebusters.com. You will find very helpful information including, "How do I get out of my lease?" and "Why are lease takeovers so popular?"