Jun 17, 2019 /
Average reading time: 4 minutes
Author: lendinguser

Are you in desperate need of a car? Either because you don’t have one and need one fast so you can get to work, or because the one you do have just broke down and the repair costs are too high? No matter the reason, buying an inexpensive new car or a “new to you” car makes more sense financially. If you’re like many people, you head straight to your phone, tablet, or laptop and begin the search online. Social media and buy and sell sites like Kijiji or Craigslist are loaded with ads for new and used cars for sale. All you need to do is fill in a few key filters, scroll along with your favourite beverage in hand, and voila, your next car is a click away. It seems so simple, right? Maybe too simple. The write-up is great, the photos look good, the owner lives just down the street, and, better yet, the price is unbeatable (no financing necessary or a used car loan, meaning no high used-car finance rates). What could possibly be wrong with this car? It seems perfect and meant to be. So, you set up a viewing and, fingers crossed, it’ll be a quick sale.

Is it all just too good to be true?

What if that ad is all just an illusion? What if they just wanted to sell their problem car and you took the bait? Their problem is solved, and your problem is just getting started.

No Worries, There’s A Lemon Law, Right?

Are buyers protected from faulty new or used cars? Well, lemon laws do exist in Canada, but they aren’t without their faults, and they can be tricky to navigate if you’re not “in the know”. Before getting stuck with a lemon in the first place and forking over lots of money in legal fees and unending repair costs, consider purchasing a car that is known to be reliable, such as a certified pre-owned (CPO) Toyota Corolla, Honda Civic, or Ford F150, from a reputable used car dealership that has a CPO program in place.

Certified Preowned Cars & Trucks

So, What Is A Certified Pre-Owned Vehicle Anyways?

A certified pre-owned vehicle is, according to carfax.ca “…one that has undergone a detailed inspection and safety process. The program also includes extended warranties and can come with additional benefits like special financing and a roadside assistance program.”

Top car manufacturers across Canada, like Ford, Honda, and Toyota, have certified pre-owned car programs in place allowing buyers the benefit of owning a less expensive used car with many of the perks of buying a new car, like extended warranties, low mileage, and roadside assistance. In turn, many used car dealerships also offer certified pre-owned vehicle programs, sometimes with even more added benefits to the buyer than what the manufacturers offer. One seems to back up the other, resulting in a win-win situation for the buyer. That’s a great situation to be in if you’re in the market for a used car, especially considering that’s not always the case. So, take advantage of a good thing, like purchasing a certified pre-owned car, when you can. In the long run, you’ll be thankful you did.

Why Buy A Certified Pre-Owned Car?

Well, for one thing, when you buy a CPO, you’re buying peace of mind. Certified pre-owned vehicles are inspected and must meet certain criteria before being officially certified by the manufacturer or used car dealership that is selling them.

 

Certified Pre-owned used Car Checklist

A Certified Pre-Owned Vehicle Must:

Have a vehicle history report that will show any previous accidents, ticketing through police, mileage readings, registrations, previous ownership, and sale, etc.
Have undergone a detailed safety and inspection process
Have a predetermined amount of mileage
Be of a certain age

A Certified Pre-Owned Vehicle May Also Include:

Extended warranties
Roadside assistance
Special financing options

The Bottom Line

The bottom line is, you’re getting a good, reliable car when you choose one that is certified pre-owned. When it comes to buying that car, getting a loan and a decent interest rate will be a breeze because that used Ford F150, Toyota Corolla, or Honda Civic you’ve had your eye on is certified pre-owned. The lending organization will see that seal of approval (plus all that paperwork that goes with it) and feel confident in backing your purchase. That’s right! Lending institutions may give you a break on the purchase of your “new to you” car simply because you are buying it certified pre-owned. Stop thinking that car you saw for sale on Facebook Marketplace or Kijiji, by the guy down the road, is right for you simply because it looks good and the price matches what you have in your bank account. Go with a certified pre-owned car at the used car dealership in town instead. That pre-owned Ford F150 you’ve always wanted is backed by the manufacturer and that’s a great thing for you, your bank account, and the financial institution backing your purchase. Your dream car can be yours without having to sacrifice safety and reliability. Those things don’t need to cost more. Don’t take the chance. Instead, contact the great team at LendingArch.ca, and they can help set up a used car loan with excellent financing options and a low-interest rate.

The team at LendingArch.ca is ready to help get you started on your exciting used car buying journey. They can help you navigate the purchase of your certified pre-owned car.  Whatever yours needs, LendingArch can help you achieve them quickly and easily. Plus, you can feel confident in knowing that your used car is safe and reliable.

You’ll have peace of mind with the purchase of a certified pre-owned vehicle, backed by the knowledge, know-how, and affordability of a used car loan from LendingArch.ca. Visit them online today!

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