The all-encompassing vortex that is/was 2020, and all of the changes that came with it is starting to mellow out. As more and more people are vaccinated, cases go down, and a semblance of normalcy is restored, there is finally a light at the end of the tunnel.
Before we reach that light at the end of the tunnel, it might be worth your while to consider what your money is doing for you. We aren’t going to say buying a vehicle is going to give you a return on investment the way a house might, but the same logic that is driving the housing market right now might make it the perfect time to consider a new vehicle.
Car shoppers have a few tricks up their sleeves that has virtually never been seen before. Have you ever been able to sell a one-year-old vehicle for virtually the same price you bought it for? Have you ever experienced interest rates that made those ideal payments achievable on a big beautiful SUV? If you ask anyone who has been in the industry for any amount of time these questions, they will immediately tell you an emphatic no. They may also follow up with a question about whether you are interested in trading in your vehicle.
So let’s break it down, why might now be the best time for you to buy a vehicle?
Best Trade-In Value
Some dominos fell in exactly the right way to make a used vehicle worth a fortune. In many cases, people are finding that their vehicle is worth more today, with 20K km on it, than it was last year. Supply and demand paired with the US economy and exchange rate has made Canadian pre-owned vehicles invaluable. Everyone is scrambling to get their hands on them, and whether you sell it yourself or sell it to the dealership you might find you get a few more dollars in your pocket than you would think.
Free Money
Okay, correction, money isn’t quite free but it is not nearly as expensive as it normally is. This provides some options that aren’t always available when rates are higher.
When it comes to making such a big financial decision, talking to an expert can make the jargon and technicalities easier to understand. Here at Westgate Credit Farm, we have a couple of experts on hand! Don’t be afraid to reach out and ask questions, we would be more than happy to help you make an informed and educated decision while providing you options for new and used vehicles.