I am helping out a friend, she is looking to buy or lease a car for under $300 per month. any suggestion, gentlemen?
Looking for a place to buy a good "just off lease" car.
- Thread starter J. Peterman
- Start date
Try AutoTrader.ca. You can pick the Model,YR,$,KM, even the search area. I personally prefer Ottawa/Gatineau for car shopping, since many "grossistes" can do the safety inspection for both provinces if you end up trans border shopping. Good luck.
Lease
Check auto auctions in your area, also check the rental car companies sales divisions. Say what you will about buying rental cars, but their maintenence is usually very good. Dealers will also sell lease returns that they bought at auction on their used lots. Figure about 10 -15 % markup. If you are interested in leasing there are several books that will guide you through the process. Don't show up at the dealers just looking for a price you can afford, it's easy to stick you pretty good if you haven't done your home work. I used to sell/lease cars in a former very short life so, be careful out there. Lots of info on the web. cheers
Check auto auctions in your area, also check the rental car companies sales divisions. Say what you will about buying rental cars, but their maintenence is usually very good. Dealers will also sell lease returns that they bought at auction on their used lots. Figure about 10 -15 % markup. If you are interested in leasing there are several books that will guide you through the process. Don't show up at the dealers just looking for a price you can afford, it's easy to stick you pretty good if you haven't done your home work. I used to sell/lease cars in a former very short life so, be careful out there. Lots of info on the web. cheers
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How to get into the auctions?
I have heard that you can pay people that visit auctions frequently to look for a car for you, I believe that most of these guys charge abour $500 to locate a car and buy it for you at the auction.
I have heard that you can pay people that visit auctions frequently to look for a car for you, I believe that most of these guys charge abour $500 to locate a car and buy it for you at the auction.
A Honda/Toyoto Dealer
Get a good car from a dealership with a good reputation (look up their names in www.toile.qc.ca & google.ca) that can be sued/brought to court if you feel at the wrong end of a deal.
The only non-dealer I would trust right now is H Gregoire because he has much to lose, he (H Gregoire) will trade your car you don't like for another one, taking a loss, rather than getting bad publicity.
A company such as ABC Inc I wouldn't trust, since they can kill their Incorporation, open a new one, and you can't sue them for whatever reason.
Food for thought - used cars resell at a much higher markup than new cars. The extended warranties also are a strong money maker.
That being said, my last two cars I was able to get free air-cond and new wheels without haggling the price. Both were 20$k+ cars, more haggling room than for a 10$k used.
Get a good car from a dealership with a good reputation (look up their names in www.toile.qc.ca & google.ca) that can be sued/brought to court if you feel at the wrong end of a deal.
The only non-dealer I would trust right now is H Gregoire because he has much to lose, he (H Gregoire) will trade your car you don't like for another one, taking a loss, rather than getting bad publicity.
A company such as ABC Inc I wouldn't trust, since they can kill their Incorporation, open a new one, and you can't sue them for whatever reason.
Food for thought - used cars resell at a much higher markup than new cars. The extended warranties also are a strong money maker.
That being said, my last two cars I was able to get free air-cond and new wheels without haggling the price. Both were 20$k+ cars, more haggling room than for a 10$k used.
How auctions work
Many of these car auctions work on making profit with the difference in GST and PST. Example:
Car is auctioned for original price of 10,000. Plus 13.95% taxes = 11,395.
When you buy from someone like H Gregoire, they say they're giving you the auction price + 500$, right?
They sell you 11,395 + 500$ + GST + PST, makes 13,554$.
BUT it should have been sold to you for 10,000 + 500 + GST + PST, which should be 11,964$.
So the reseller is making a SECRET 895$ PROFIT, not just 500$.
It's legit, the contract you sign says you bought at 11,395 plus tax.
The reseller will tell you a bogus story that the taxes at the auction were paid by him, so have to be paid by you, as they go to the gov't. Then a NEW sale requires NEW taxes.
Be aware, it BS. The merchant reclaims the original taxes he paid every X months (usually 3) and only pays the gov't the DIFFERENCE between the highest sold price and the taxes he paid.
A friend that works in that industry told me. Just like Oliver who has many many friends, some he hasn't even met yet
Many of these car auctions work on making profit with the difference in GST and PST. Example:
Car is auctioned for original price of 10,000. Plus 13.95% taxes = 11,395.
When you buy from someone like H Gregoire, they say they're giving you the auction price + 500$, right?
They sell you 11,395 + 500$ + GST + PST, makes 13,554$.
BUT it should have been sold to you for 10,000 + 500 + GST + PST, which should be 11,964$.
So the reseller is making a SECRET 895$ PROFIT, not just 500$.
It's legit, the contract you sign says you bought at 11,395 plus tax.
The reseller will tell you a bogus story that the taxes at the auction were paid by him, so have to be paid by you, as they go to the gov't. Then a NEW sale requires NEW taxes.
Be aware, it BS. The merchant reclaims the original taxes he paid every X months (usually 3) and only pays the gov't the DIFFERENCE between the highest sold price and the taxes he paid.
A friend that works in that industry told me. Just like Oliver who has many many friends, some he hasn't even met yet
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