Buying First Car Complete Guide
Buying First Car Complete Guide

Buying First Car Complete Guide

2021-08-10
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Buying Your First Car is Easy!

Now that you’re reading this, you’ve come close to buying your first vehicle, and you want to make it perfect. In no doubt, this is an important decision to make as besides making an investment, your own first vehicle must fit your needs in every way. You want to make sure you do everything right without missing a single detail. There’s no room for dissatisfaction.

After reading our article, you’ll know where to start and which direction to move to.

Decide on the type of car you want

Every project starts with stating a problem to solve. So, the very first thing you need to do is to determine what particular needs you’re aiming to solve with your new vehicle.

If you need a family car, then an SUV can be a great option, but you might think of a minivan if your family is big and growing. For work that requires moving lots of cargo, a pickup truck or a van can get you right. Those planning to drive mostly in the city might want to opt for a compact fuel-efficient car. With all other aspects equal, fuel economy can be a key factor, especially in the long run.

We can help: When you fill our online application, you tell us what type of car you need. With a few additional questions, we can help you narrow down the search and connect you with the right dealership.

Know how you pay: Cash or Loan

It’s great if you have a certain amount of money saved towards your new purchase. It means you’ve approached your future purchase diligently, and you are in a more advanced position than most car shoppers. Congratulations! You can skip this step.

But more often, car buyers don’t have the required amount of cash ready and need a loan. A car loan is essentially just like any other loan. You borrow the money towards your purchase and agree to repay it over a set period of time, in fixed regular payments, including interest.

We can help: We partner with many lenders including big banks that offer great rates to us. This lets us get customers pre-approved, even with bad or no credit. In this case, you can use our loans to improve your credit so that next time you shop for a car, you can do it from a much more favorable position. Even if you’re sure your credit is solid, letting us do it for you will take a load of the pain off your shoulders, leaving you worry-free.

New or Used?

The choice between buying pre-owned vehicles or new ones isn’t just about the price. As you can see, there are other advantages and disadvantages of both that may affect your decision.

Brand new vehicles

Pros:

  • The safest way to buy
  • Warranty
  • Great promotions and incentives

Cons:

  • Fast depreciation during 1st year
  • Normally requires credit score above average

Used vehicles

Pros:

  • Great deals on high quality cars
  • More affordable options
  • Depreciation is not as fast as with new cars

Cons:

  • No warranty
  • May have reliability issues
  • May require more maintenance and at higher costs
  • Potential risk in private sales

We can help: All cars you find with Vehicle Approval Centre are exactly as advertised. You can trust CarEvo as we work only with reputable dealers with a proven record, and we value our reputation.

Prepare the documents

In order to make a purchase, you’ll need a minimum set of documents. Aside from possible additional documentation, here’s what you need to have in a valid condition:

Driver’s license: This is what proves you are legally entitled to drive in Canada. This piece of documentation often serves as a personal ID, so getting it done is what you should do even before you start shopping for a car.

Insurance: This is your financial protection in case of theft or accident. Typical insurance covers you, your car, and third parties. As it is mandatory, you need to have that ready to buy a car.

Ownership and registration: This document is the official proof that the car belongs to you and is officially registered for driving.

We can help: When you shop with CarEvo, you don’t have to worry about keeping all the details in your head. We’ll provide guidance with each step to make sure you get your car faster.

Get preapproved with CarEvo

As you can see, buying your first car is a clear process with straightforward steps. However, CarEvo can take much of this hassle off your mind. Apply online and have one of our professional agents start you on the shopping. You’ll see how much easier and faster you’ll get into the driving seat of your dream vehicle.

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