How to Buy Your First Car in Canada: A Full Guide
How to Buy Your First Car in Canada: A Full Guide
Posted on August 10, 2022
Despite everything that’s been happening in the world, Canada is still a very popular place to emigrate to. It’s huge, has superb infrastructure, an amazing way of life and many benefits that we tend to take for granted. One thing you’ll quickly realize is that you’ll need to buy your first car in Canada if you want to get anywhere. While our transport infrastructure is good, once you head out of the city, you’ll need to drive everywhere.
So how do you do that if you’re new here?
Driver’s license
Your current driver’s license will only be valid for a short time after your arrival. If you’re staying here permanently, you’ll need a Canadian license. That means exchanging your current license for a Canadian one.
You’ll need three official forms of ID and an official document from your original driving license authority to get your license.
Once you have your license, you’ll be able to apply for car insurance which is mandatory in Canada. Once you have a license and insurance, you can register any vehicle you buy here.
Buying the car in Canada
Once you have your driver’s license and can access insurance and register a car, you can buy one. You’ll have the same options as you likely had at home, buy private, buy from a dealership, buy new or buy used.
You can also buy for cash or use a car loan, depending on your situation.
Most newcomers to Canada buy a cheap used car to get them started and while that can be a good idea, it isn’t always necessary.
Car loans for newcomers to Canada
The one thing you may not know when you move country is that your credit score doesn’t move with you. That means you’ll have to start over and begin building a new score and a new credit report here in Canada.
The good news is that you can use the same techniques here as you did at home.
You do have options though. Our auto loan specialists have access to lenders willing to work with newcomers to Canada and may lend to you even though you don’t have a credit score yet.
You’ll need a large deposit and a steady job but otherwise, we can help you secure a great deal on a loan to buy something a little nicer.
As we’re a dealership chain, we can also find you a car to buy with it!
Starting a new life in a new country is an exciting time. It’s also a nervous time, having to learn a new way of life in a new culture.
At least one thing works in a familiar way and has no ambiguity and that’s the car buying process and car loans!
If you need help or advice on anything to do with auto loans in Canada, contact Car Nation Canada today, we can help!
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