Is it truly necessary to create a savings plan in order to buy a used car? Some of us are planners and we do our best to have a solid, concrete and directed plan for all of our decisions. Additionally, many people feel that making a down payment on a major purchase is nothing short of tradition so they don't take the time to explore other options. Yet, increasingly car buyers are realizing that while a down payment has merit, of course, it isn't always necessary. In fact, this option may not be for everyone.
The key reason that a savings plan isn't vital to buying a used car is that car dealers often have zero money down options for drivers. This is, of course, changes the game immediately. Plus, it is an option that you can take advantage of immediately.
With this information in hand, it is possible for you to reevaluate when you can get behind the wheel of a high-quality used car. As it turns out, thanks to zero down options, you don't have to open up a new bank account specifically to save up for that used car you had your eye on.
Not having to ask friends or relatives to help you come up with the money you need is a major plus. Further, not having to come up with a down payment for your used car means that you have money freed up to use for other expenses or other projects.
So what is the first step? The fact is that the first step couldn't be much easier. Simply walk into your car dealership and talk to them about what zero down payment options they have. However, be aware of the fact that the Consumer Federation of America says that US car buyers are frequently overcharged 3% for loans from dealerships. This situation frequently occurs in Canada as well. You may also want to check out various web based offers and compare them with what your dealer is offering.
The bottom line is that there are many different options for getting you behind the wheel of a new car and at the top of the list is the zero down option. Is it worth exploring? Definitely!
Get Pre-Approved Now!
Ready to apply for financing? Fill out our application form here to get started: https://carloanscanada.com/application