Dash cams – get one!

This will be a quick post. The message for today is: if you don’t yet own a dash cam, GET ONE! Don’t wait. 

G1W_dashcam

G1W Dash Cam – determined to be an excellent performer for its modest price

Why? Well, you won’t realize you need one until it’s too late. It’s better to be prepared and never need it, than the alternative.

If you’re involved in an incident a dash camera can provide invaluable evidence as to the events that transpired, as your story won’t always align with the other party’s. If you’re not at fault and the other party is claiming you are, it’s your word against theirs, but a dash cam can reveal the truth.

If you’re involved in an incident you can be subsequently hit with a lawsuit (up to two years later where I live) claiming all kinds of things. Had a dash cam captured any events in question, you might be able to quash any suit entirely. Don’t wait to buy a dash cam until after you needed one. You’ll be glad you made the investment.

Want to see a couple of video reasons to get a dash cam? Here you go:

“Rear ended” on highway (insurance scam attempt foiled)

Terrifying Road Rage caught on dash cam

If you’re looking for a great value on a dash cam, all online research seems to point to a G1W, G1WH, or G1W-C (at time of writing, in June 2014). I won’t go into the differences between models in this post, but googling them should provide the answers. I have no interest in what you buy or from where – but do your research and get one. I have not been paid to write this or promote any products.

TheWireCutter.com seems to have done the research for you. Check out their conclusions (and links to purchase) right here.

Safe driving,

Angus

http://www.carcompass.ca

 

 

Quoted in Canadian AutoWorld about the Hyundai Equus

Hyundai Equus gets mid-cycle revision for MY 2014

Thursday June 20, 2013 – 11:06 am

Published By: The Formula Publications Team

Hyundai Equus 2014
Hyundai Equus 2014

By Michael Goetz

While Equus has always been a big player in Korea’s domestic luxury market, Hyundai’s decision to bring the vehicle to North America for model-year 2011 raised many an eyebrow.

When it comes to North American Hyundai models, the $65,000-plus Equus is the most un-Hyundai of them all. Low volume. High price. It competes with Mercedes-Benz, BMW and Lexus.

Fast forward to today, as its mid-cycle revision approaches for model year 2014, and the eyebrows still seem to be raised.

Super Low Volume
For calendar year 2011, Hyundai sold 116 Equus. The same number it sold in 2012.

During the first quarter of 2013, Hyundai sold 13, down from the 25 it sold during the same three months of 2012. But according to Hyundai Canada, the slip in volume is not a situation of stalled sales – this is right on the money.

“We anticipated sales of roughly 100 annually. The Equus is meeting sales expectations,” said Hyundai Canada spokesperson, Chad Heard, via email.

If you do some simple division, that amount of volume certainly demands a different business case for the 27 Canadian dealers who raised their hands and invested to become Equus retailers.

‘Because We Can’
Steele Hyundai of Halifax, N.S., is one of those 27 Canadian Equus dealers. So far, the dealership has sold three of the top-line sedans.

“You have to look at it like a dealer or manufacturer would look at brand advertising,” says Peter Gwynne-Timothy, general manager at Steel Hyundai.

“You can’t quantify what it’s worth in dollars and cents. You just take it on faith that the more people you expose your brand to, the better it is for the brand, and for you. But to have actually counted all the nickels and dimes we earned by the sales and service of this vehicles? I don’t know if you could ever argue that you could get your investment back.”

Bob Attrell of Attrell Hyundai in Brampton, Ontario, is more succinct: “It hasn’t made me a nickel.”

By Equus standards, Attrell Hyundai is high volume. The dealership has sold about 12 units so far and has about 16 Equus service customers.

But both dealerships seem entirely okay with having the Equus around as a flagship; an example to show that Hyundai is capable of building a car that can complete with likes of Mercedes-Benz S550 and Lexus LS 460. (For the record, in 2012 those vehicles registered annual sales of 715, and 150, respectively).

When asked if Equus might be hampered by Hyundai’s decision to not launch a separate luxury brand, Heard responded by circling back to its flagship role and how it is designed to showcase Hyundai’s R&D capabilities.

“As such, a Hyundai badge is the most appropriate badge for the Equus and the Hyundai showroom the most appropriate place to display the vehicle.”

Flagship, But a Discreet One
Attrell feels Hyundai has done an “amazing” job on Equus noting he has never received a complaint about the car.

He said Equus looks impressive, has all the requisite luxury amenities, and drives spectacularly, with lots of oomph. And he should know, an Equus is his daily driver.

But whenever he’s out with the car, he says he can always count on one question from curious onlookers: “What is it?”

“They don’t advertise this car,” he said.

Hyundai, however, begged to differ.

“Strategic, targeted support (print, online ads), to appeal to its target customers, but used on a broader scale (experiential events and displays), to demonstrate the company’s engineering capabilities.”

In other words, no television or radio or other big, mass-market campaigns.

According to Gwynne-Timothy, the vehicle’s discrete image can appeal to some buyers.

“At this point, the people who buy Equus appear to be those who could virtually buy anything they wanted. They are very, very wealthy. They are not up and comers dreaming of a Beemer, then settling for a Hyundai. They are people who see the value in the car and could care less about what the label is. In other words, people that don’t have to anything to prove to anyone else.”

Angus McComb of the buying service CarCompass.ca, said he has only fielded one inquiry about the Equus, from a client who eventually settled on a Jaguar XJ.

“The Equus seems to fill an anti-snob niche for those who wish to own a luxury vehicle without the pretense,” McComb said.  “Unfortunately, this niche seems too small to be sustainable and is stuck in a bit a of a Catch 22 when it comes to marketing as advertising the product works against the element of discretion that enables something to be anti-snob.”

Gwynne-Timothy added it’s great for the Hyundai brand to have very affluent people driving them. One of his Equus customers ended up ordering a Santa Fe for his wife.

“Without the Equus, it is unlikely that family would have had a Hyundai in their driveway, let alone two of them.”

Your Time, Your Place
Whether or not the volume is a hit out of the park, one aspect of the Equus story is a customer retention dream – the program to pick up and deliver the vehicle at every service occasion.     Officially, the program is called “Your Time, Your Place,” and it even applies to sales demonstrations.

When service customer vehicles are collected, the dealerships also leave the customer with a loaner, usually another Equus, but it could also be a Genesis or Veracruz. And customers get their cars back with a detail service equivalent to a new delivery.

At Attrell Hyundai, they have a dedicated Equus salesperson and a dedicated Equus service writer. Attrell says these individuals exclusively arrange the pick-ups and drop-offs.

Over time they have managed to forge great relationships with these customers and know all of them by name.

Hyundai’s Chad Heard says the program has become a “unique selling proposition” and one that the company is currently studying, to possibly expand

What is an open-ended vehicle lease?

Let’s quickly answer “what is a lease?

A lease is a method by which an individual or company can obtain the use of a vehicle for a fixed period of time by making regular periodic payments (that are tax-deductible for business applications). The lessee is essentially paying for the depreciation they put on the vehicle during their lease. As lease payments aren’t covering the full value of the vehicle, but rather the depreciation accrued, leases don’t require a significant cash outlay and have lower monthly payments than if financing the entire purchase price inclusive of taxes.

What is a closed-ended lease?

The type of lease with which most consumers are familiar is known as a closed-ended lease. This is a retail lease offered by most manufacturers and dealerships on new vehicles. With a closed-ended lease, the lessee will lease the vehicle for a fixed term, with a fixed km or mileage allowance and restrictions on use with a subjective clause allowing for “reasonable” wear and tear. The monthly payment is derived from the difference between the MSRP or retail price and the pre-determined residual value established by the manufacturer. Closed-ended leases can work for many individuals and the occasional company, but the user needs to fit nicely within the confines of the established lease structure. If you do fit within this fixed structure, then a closed-ended lease can be a very good option for you – just don’t expect any flexibility or the ability to easily get out of your lease ahead of schedule without penalty, as you’ll be upside-down until the day your lease ends. There are resources like LeaseBusters.com to assist, but you’ll need patience and to provide a financial incentive for someone to take over your now-used vehicle at a new car monthly lease payment.

But the closed-ended lease isn’t the only type of lease. There’s another type of lease that’s been popular and common with businesses for quite some time and is been gaining traction with consumers: the open-ended lease.

What is an open-ended lease?

How does an open-ended lease differ from a close-ended lease? An open-ended lease isn’t available solely on new vehicles; pre-owned vehicles can be leased using an open-ended lease. Open-ended leases can be particularly attractive for higher-end luxury and sports cars, especially pre-owned ones. By allowing the original vehicle owner to “take the hit” of the steep depreciation from the first couple years of ownership, leasing a pre-owned vehicle that’s a couple of years old over three or four years can be a great way to own a premium car if you like flexibility and the ability to change vehicles every few years. If you like to buy cars cash and drive them into the ground, leasing won’t make sense for your ownership style. But if you like flexibility and value, an open-ended lease could do the trick.

It’s very important to ensure the structure of a lease is devised to protect you from being “upside down” throughout the course of your lease. To do this, the leasing company should ensure the established residual (which is up to the leasing company’s discretion) is realistic and conservative. This ensures that at the end of your lease you’re not having to cut a big cheque for the difference in value between the predicted residual and the actual term end value. By artificially inflating the residual, an unscrupulous leasing company could make the monthly payments lower and more attractive but leave you exposed to cover any shortfall in value at the end of your lease. This would create a structure similar to that of a “balloon payment” where a large lump sum is due when you hand over the keys. But a well structured open-ended lease will ensure the vehicle is being depreciated appropriately and you will be able to simply toss the leasing company the keys at the end of the lease – or even before – and not find yourself upside down. In fact, a conservative residual would actually mean you end up with positive equity as the value of the vehicle at the end of the lease is greater than the predicted residual and the leasing company cuts you a cheque! There’s no obligation to buy the car at the end of the lease, but you definitely have the option to do so at the residual price should you want to.

So the biggest benefits to an open-ended lease are the ability to: lease a pre-owned vehicle, build equity, step out of your lease early without penalty (provided the lease is well structured), and drive as much or as little as you like without confines or “reasonable wear and tear” restrictions. In simplest terms, you pay only for what you use. And for these reasons it’s easy to see why open-ended leases are gaining popularity.

If you’d like assistance developing a well-structured open-ended lease, I’m at your disposal.

Sincerely,

Angus McComb

http://www.CarCompass.ca

416-477-9328

What is AWD (all-wheel drive)?

What is AWD?

AWD is the acronym for all-wheel drive, which is the term used to describe a vehicle capable of delivering power from the engine to all four wheels simultaneously. This can be beneficial to drivers and their safety as it can improve vehicle traction in snow and low-traction conditions.

AWD

What’s the difference between all-wheel drive (AWD) and four-wheel drive (4WD) or 4×4?

First off, 4WD simply means that power is supplied to four wheels in some mechanical form. So AWD and 4×4 are both types of 4WD. The more necessary distinction is between 4×4 and AWD.

If you want a more technical explanation, this link details the differences between 4WD types. If you want a top-level overview of the differences between AWD vs 4×4, here it is:

All-wheel drive 

AWD can supply power to all four wheels, but how it does so will likely depend on the traction conditions. AWD systems can transfer power between the front or rear axle depending on where it’s needed most. Some AWD systems can be in total 2WD (two-wheel drive) mode until additional traction is required, when it will distribute the power to all wheels. Others will put around 70-80% of the power to one axle with the balance of power to the other axle, and distribute it up to 50:50 as necessary. Powering individual wheels rather than axles might even be possible with some AWD systems. AWD systems are more common for consumer vehicles designed for on-road driving conditions.

What is 4×4?

4×4 systems will distribute power to all four wheels equally at all times. Limited slip differentials might permit outside wheels to rotate at slightly higher rates as is necessary when turning as wheels need to rotate at different speeds when cornering. But 4×4 is better oriented for off-road driving and trail riding. So unless you’re planning on using your vehicle to blaze some trails, AWD is probably completely adequate for your needs and more appropriate for typical day-to-day use and getting through any snow the Canadian winter throws our way!

Hope this helps,

Angus McComb

If you would like any assistance finding an AWD or 4×4 vehicle, I’m always here to help.

www.CarCompass.ca

416-477-9328

Are CPO (Certified Pre-Owned) worth the extra money?

CPO

If you’re in the market for a used car and have been checking out your options online, chances are you’ve stumbled upon the term CPO which stands for Certified Pre-Owned. There are other terms and acronyms for the same thing, like “CUV” (Certified Used Vehicle) that Honda uses to distinguish its CPO program.

What is a CPO vehicle?

Not to be confused with a regular “certified” used vehicle that will conform only to the local motor vehicle department’s / ministry of transportation’s  minimum road-worthiness requirements, a CPO vehicle is inspected, re-conditioned and certified to manufacturer-established standards that are more rigorous than those of the government. Only certain used vehicles are eligible to be part of a CPO program based on their age, mileage and history. If eligible, the vehicle will go through a re-conditioning process (like refurbishing) and likely comes with an extended manufacturer warranty. So compared to a regular “certified” used vehicle that will meet only the local government’s minimum road-worthiness requirements by having attributes like a minimum tire tread depth and adequate brakes, a CPO vehicle has to be more rigorously up to speed in order to be deemed a CPO vehicle.

What are the benefits of a CPO vehicle?

The biggest advantage to a CPO vehicle for most consumers is peace of mind. Knowing that the used vehicle you’re buying has met certain quality criteria and has been re-conditioned is very reassuring – but it comes with a cost. The re-conditioning is not a free value-added service, and as such is built into the price. As with any pre-owned vehicle, each and every vehicle is unique so comparing CPO vehicles requires appropriate diligence.  And knowing the differences between each manufacturer’s CPO program is very important as the quality, terms and conditions differ greatly.

Where can I buy a CPO vehicle?

CPO vehicles are only found and sold by the vehicle’s corresponding manufacturer dealership. You cannot buy a CPO BMW, for example, at a “John Smith’s Auto Sales” type of independent dealership. You’d have to buy a CPO BMW from a Bimmer dealer, CPO Audi from an Audi dealer etc. etc. If you find a “CPO” vehicle at a small independent dealer, chances are they’ve created their own CPO program that might not carry the same weight and value as a manufacturer-backed CPO vehicle and any extended warranty would be provisioned by a third-party. So be aware that not all CPO programs and vehicles are created equal.

The merits of buying a CPO may be becoming obvious, but the big question that will undoubtedly arise is:

Is a CPO vehicle worth the extra money?

CPO vehicles are more expensive as they have been screened (typically they can’t have been used as rentals, can’t have had a big accident, can’t be over a certain age or km amount), have been re-conditioned (which may involve very little, or perhaps extensive parts and labour) and come with that sweet extended manufacturer warranty that makes buying a used vehicle so much more inviting. For non-luxury brands, CPO vehicles can carry a premium of very little: around $500-1,000 more than a non-CPO options. Luxury brands, however, typically command an additional $1,500-$3,000 for their CPO vehicles. Much of this cost is due to the dealer’s cost to participate in the CPO program as they have to pay the manufacturer (who provides the extended warranty) to register a used car as CPO. Non-premium dealers will pay roughly $400-700 to participate before costs of re-conditioning, and luxury dealers will pay closer to $1,500-2,000 to participate before re-conditioning expenses.

With this premium in mind, it is only worth the extra money if:

a) you have the budget for a CPO vehicle and won’t be over-extending yourself

b) the premium for a CPO is not exorbitant compared to non-CPO vehicles

c) buying a CPO still proves to be cost-effective compared to buying new. Sometimes the incentives on new vehicles can put the total pricing within shooting distance of a CPO (e.g. if financing a new car at 0% vs. a CPO at 5%).

As always, doing your homework will ensure you’re making the right decision when determining whether CPO is worth the extra money and the right decision for you. For many, the added peace of mind of the extended warranty can be worth the premium, but if you’re a value shopper and the lowest up-front price is the bottom line, then CPO is probably not for you. AutoTrader.ca has a tool to let you compare certified programs.

If you’d like any assistance finding a pre-owned vehicle, Car Compass is here to help.

Yours truly,

Angus McComb

http://www.CarCompass.ca

416-477-9328

How can a car broker save consumers money?

A good car broker can potentially save you money, and if they’re good they’ll also save you lots of time. It should be a broker’s job to represent your best interests to help you find the most suitable vehicle in an efficient and effective manner. But how can a broker save car shoppers money? Generally speaking, car brokers are knowledgeable about the automotive marketplace and should have a strong idea of what prices are achievable. But given the amount of information available to consumers, the broker may not necessarily have proprietary information that isn’t already available to consumers. And it is possible that with some time and effort a very savvy negotiator could end up with a deal almost as good or equal to what a broker could achieve. But the difference is that a broker has a great deal of experience negotiating vehicle prices (both purchase and lease) and knows how to structure an offer the dealer is likely to accept. The broker may even have a relationship and good rapport with a sales or fleet manager at the dealership that allows him/her to cut to the chase more quickly and obtain a great deal with no messing around. If the broker works efficiently and frequently with a dealer to minimize the dealer’s workload (internal admin and resources) then the deal can be even sweeter as the dealer won’t have to build a sales rep’s commission into the selling price as the broker can help alleviate this workload.

Numbers matter

Consumers typically buy a vehicle no more than once every three years. Brokers, on the other hand, facilitate a number of purchases every week – often with the same dealership. In an effort to retain the broker’s business the dealership will often make price concessions to the broker that aren’t available to the public. As number of sales count toward a dealership’s quota and corresponding bonus from the manufacturer, the dealer will be willing to offer deeper discounts to a broker who helps them increase their volume rather than an individual consumer who will only be contributing a one-off sale that leaves the dealership focusing on the individual transaction’s profit margin.

Invoice pricing

We know the “invoice price” – the amount a dealership pays the manufacturer for a vehicle. And this info is becoming more readily available to everyone. But just knowing the invoice price doesn’t necessarily mean you’ll be able to get a great deal. You have to structure offers the dealership will be willing to accept. By knowing the invoice price you have a good baseline but knowing is only half the battle. At Car Compass we share the invoice price and any available incentives with our customers to help set expectations and ensure we’re shopping around an offer to achieve the most competitive price on our clients’ behalf.

To learn more about how a car broker can help you buy a car in the Toronto area, contact Car Compass at 416-477-9328

Angus McComb

How to spot and avoid flood damaged vehicles

The purpose of this post is to help you protect yourself against and avoid flood damaged vehicles, as an influx are expected to surface in Canada following Hurricane Sandy.

Image

Hurricane Sandy submerged a great number of vehicles. And Hurricanes Katrina and Rita water damaged more than half a million vehicles. Perhaps you’re asking yourself “so what? Why is buying a flood damaged car bad?” Well, in Canada flood damaged cars are viewed to be so problematic that they are to be titled “non-repairable” and never used on public roads again, regardless of their apparent condition or any repairs that have been performed. Basically, they’re only good for scrap or parts after being flood damaged as they cannot be legally registered for use on public roads ever again… So is it then a safe assumption that consumers are protected, given that flood damaged cars are titled as non-repairable? Unfortunately not. There are ways that unscrupulous individuals and dealers can dodge or “clean” / “title wash” a non-repairable title in order to make the car appear road-worthy so that they can sell it for more than it’s worth as scrap or parts. And part of the process of evading or cleaning the non-repairable title often involves vehicles crossing state boundaries and ending up in Canada. So Canadian consumers need to be aware of the “flood” of flood damaged cars heading north of the border (sorry, couldn’t resist!) to avoid becoming a victim with a worthless vehicle.

So what should you do to protect yourself from unknowingly purchasing a flood-damaged vehicle?

First and foremost, if you’re purchasing a vehicle imported from the US it’s important to buy from a registered dealership as you are likely protected from flood damaged cars. In Ontario, dealerships operating legally that are registered with OMVIC are required to disclose any flood damage. And if you buy a car that turns out to have flood damage that wasn’t disclosed, then the dealership will be on the hook as it’s their responsibility to identify the damage regardless of whether or not they were aware of it. If you’re buying from a private seller, however, and end up with a flood damaged car, then you’re SOL. So ensure you’re protected and buy from a registered dealer.

Here are some tips to help you identify flood damaged cars

(because the vehicle history reports don’t always contain flood damage info – like when an insurance claim isn’t made against the flooded vehicle):

  • Follow your nose! Use a “sniff” test to smell for mould or mildew odours inside the cabin. Or perhaps there’s an overwhelming smell of cleaning product or air fresheners that have perhaps been used to cover-up tell-tale smells. Run the fan, AC and heat to help check for smells.
  • Test all electrical systems. Flood damaged vehicles typically suffer electrical problems when water has gotten into the electronics. So check the lights, wipers, turn signals, cigarette lighter, radio, A/C and heater.
  • Ask! Ask the seller if the car has been damaged (flood or otherwise) or has anything other than a “clean” title. It’s not so much the answer that you seek, but the delivery of the answer. If your gut is telling you something is fishy, it’s often wise to trust it and walk away.
  • Get it inspected by a mechanic you know and trust. Any half-decent mechanic should be able to spot a flood damaged vehicle. If the seller won’t let you get the car in question independently inspected, then that might be a warning sign something is not right.
  • Check for rust and water lines where they wouldn’t normally occur. Check the trunk, glove box, centre console, seat brackets, floor mats, under the floor mats, engine compartment and door jambs. Are there dirt, rust or water marks in suspicious places?
  • Are the floor mats discoloured, mismatching or oddly shaped? Or suspiciously clean? This can indicate that water made it into the cabin.
  • Is there any moisture in the headlamp or tail light enclosures? How about the instrument panel? Do they appear foggy? It can be very difficult to get water out of these areas.

Hopefully these tips on how to spot water damage will help you avoid buying a flood damaged vehicle. Be diligent and trust your instinct. If it sounds too good to be true, it likely is. Don’t try to convince yourself that it’s just a really, really good deal!

As always, I’m here to assist in any way possible when it comes time to purchase or sell a car,

Angus

www.carcompass.ca

10 money-saving tips for buying or leasing a car

Pagani Zonda vs Smart Car

  1. Set a budget and exercise self-discipline to stick to it. Don’t get tempted by more expensive models or bells and whistles you don’t need. It’s very easy to lust for higher trim levels that aren’t a necessity. And skip the aftermarket products and accessories. Remember that a car is a depreciating asset and spending more on options won’t proportionately increase the residual value of the vehicle (with the exception perhaps of an automatic transmission).
  2. Don’t focus exclusively on just one vehicle. Having a couple of choices you like and could happily live with will help keep pricing near the forefront of your decision-making.
  3. Explore different ownership methods. Don’t make any assumptions about one method being cheaper than another. Leasing – despite often providing the lowest monthly payment – is usually a more expensive method of ownership in the long run. And don’t assume that promotional “0% financing” rates are the least expensive way to own or finance your vehicle (I cover this in-depth in this post). The least expensive way to own is usually by purchasing a well-maintained pre-owned vehicle and driving it to the end of its useful life.
  4. Perform your due diligence. There are many free or inexpensive resources on the internet that will tell you the invoice price (that’s the price a dealership pays for a new car). With this info, you can make an offer at a reasonable mark-up of around 3-5% above the invoice price. If buying used, you should be able to find average asking prices for a specific make and model online by examining used listing sites which you can use as a baseline.
  5. Shop around. Not all dealerships and salespeople are created equal. And the largest and most lavish dealerships aren’t necessarily the most expensive (as moving larger volumes can help keep individual unit prices down). But sometimes being willing to travel to a dealership that’s more eager to move a unit could save you money, so don’t limit yourself to the nearest dealerships.
  6. Considering using a car broker. A car broker is to vehicles what a real estate agent is to homes. Finding a trustworthy car broker in your area that can provide you with reliable advice about cars and dealerships can prove invaluable. They might even be able to help you get a better deal with their dealership contacts and expertise. Just make sure you’re engaging a car broker whose revenue model aligns with your best interests (i.e. you pay for their services rather than allowing them to collect undisclosed commissions from the dealership).
  7. Gas and insurance costs are part of the expense of owning and operating a car. Once you’ve got a short-list of cars you’d be happy owning, call your insurance provider to find out how much each will cost to insure. And call a few different insurance companies or brokers as the rates can vary greatly as can the coverage. Calculate the amount of gas you’re likely to use every year based on your annual driving and the estimated fuel economy. Factor this into your decision-making.
  8. Say “no” to the aftermarket add-ons and accessories. The dealership will probably try and sell you a plethora of extra services or products like special wax jobs, rust proofing, extended warranties etc. to increase their revenues on your transaction. Most of these aren’t worth the premium, but if you feel something would be of great benefit to you, shop around! Chances are you could save hundreds of dollars if you buy the product or service elsewhere. Or negotiate with the dealership on price of the product or service; knowing how much other providers sell the item for will help with your negotiating leverage.
  9. Maximize the value of your trade-in. If you have a vehicle that will be part of the transaction, ensure you’re getting the best possible price for your vehicle. The dealer’s first offer on your trade-in may not be their best. Shop your vehicle around to a few dealerships to be sure the price you’re being offered is fair, otherwise you might be paying more for your car than necessary. Read this post for more info on how to determine your car’s value.
  10. Take care of your investment. Stick to the recommended scheduled maintenance. Never neglect oil changes and filter replacements or your could be driving your vehicle to an early grave. The better you take care of your investment, the longer it will last, the better it will treat you, and the greater the resale value it will achieve. This can be especially true if leasing as many car manufacturers impose costly penalties for failing to adhere to the maintenance schedule. If leasing and you require bodywork or painting done, check with the dealership or car manufacturer for preferred vendors as inferior paint jobs could cost you thousands at the end of your lease – so saving a few bucks to get the less expensive bodywork or paint job will likely cost you much more when you return the car at lease end for inspection.

By following these tips you should be in good shape to keep your long-term vehicle ownership costs down. Never over extend yourself or buy more than you can afford.

If you decide a car broker is your preferred route, I’d be happy to assist in finding you your ideal car for the best price.

Angus McComb

416-477-9328

www.carcompass.ca