Along with buying a home, buying a car – new or used - is one of the most important decisions a consumer will make.  For many people, a vehicle isn’t just a means of convenience or transportation, it’s often an essential component for their livelihood.  Finding the right car that fits your lifestyle, be it business or leisure, not to mention your budget, is critical to ensure that you get what you need out of the vehicle, especially in the used car industry.

United Auto Credit suggests that a prospective buyer make some key decisions before starting their search;

1)  Is the car primarily for work, for leisure, or both?

If you travel a good deal on business, the kind of car you will require will often be in an entirely different category than one used for basic transportation needs.  You will want a more rugged model that offers good gas mileage and has a solid reputation for dependability and performance.  If you plan on more domestic usage, particularly as a second vehicle, you may be more interested in safety and seating options for children, as well as storage space.  If you’ll be using it for both business and leisure, then you might want to consider some combination of all of the above  elements.

2)  The next most important consideration when purchasing a used car is how you intend to pay for it.  In today’s economy, the idea of paying outright for a vehicle can be a major financial drain, which is why so many opt to finance the purchase through a used car loan.  As with any kind of loan, many factors should be considered before settling on the terms.  Can you pay either weekly or monthly?  Do you prefer a fixed or a variable term rate?  Will you be keeping the vehicle at the end of your term, or do you expect to return it?  Will your credit rating have a bearing on your ability to get a loan?   These are among the most common and most important questions an informed consumer should be aware of,  the answers to which can be found in our next section, IS THERE MORE THAN ONE TYPE OF USED CAR LOAN?

For more information, visit United Auto Credit – Bad Credit Car Loans in Toronto, North York, Mississauga, York, Brampton, Scarborough, Oshawa, Ajax, Pickering, Whitby and Ontario Canada.

One of the most common questions we receive at United Auto Credit is, “What are the dealer’s responsibilities when it comes to providing information about a vehicle?”

Many people do not know what information they are entitled to.  For example, does the dealer have to tell you how much mileage a car has?  How can you be sure that the vehicle has been certified as road worthy?  What is your recourse if you suspect a dealer is not reputable?

There is in fact a great deal of information that a dealer must impart to their customers by law, which includes:

1)  Whether the vehicle has been ‘branded’; in other words, has it been damaged to the point of being irreparable, or only partially damaged and thus, deemed salvageable.

2) The make, model and model year of the vehicle.

3)  If it has previously been employed as a limousine, police cruiser, emergency services vehicle, taxi or other public sector usage.

4)  If it has been used as a rental vehicle.

5) The accurate mileage of the automobile, or how far it has been previously driven.

You have the right to insist that this information be made available by the dealer.  Failure to do so should raise suspicions about the dealer in question. In Ontario, failure to answer these questions honestly is legal grounds for termination of a trade-in or purchase contract.

A smart consumer is an educated consumer.  As such, United Auto Credit will always recommend that you do a background check on the history and reputation of a dealer. 

You can request referrals or check the legitimacy of most reputable dealers at The Used Car Dealer’s Association of Ontario http://www.ucda.org/.

United Auto Credit believes that keeping you informed of your rights isn’t just good sense, it’s good business.

For more information, visit United Auto Credit – providing Bad Credit and Bankruptcy Car Loan in Toronto, North York, Mississauga, York, Brampton, Scarborough, Oshawa, Ajax, Pickering, Whitby and Ontario Canada.

Chances are that you know someone, or someone who knows someone, that has a sordid tale to tell about an experience with a used vehicle, trade-in or even the auto credit application process.

The sad reality is that there are people who would take advantage of others.  These people exist in a variety of industries, including the auto industry.  As such, it becomes increasingly incumbent upon the public to educate themselves on what to be on guard for and what criteria to seek out when choosing a reputable auto dealer.

Like many industries, the auto trade industry has its own certification processes by which the public can determine whether a particular business has been deemed as reputable. 

For example, The Canadian Automotive Institute (http://thecai.on.ca/) is the certification body for the automotive industry in Canada, and its main purpose is to uphold the highest standards of integrity and accountability in the automotive trade.

Similarly, for auto dealers in Ontario, there is The Used Car Dealers Association of Ontario (http://www.ucda.org/).  Their mission is to improve the reputation of the used vehicle industry in Ontario.  By visiting their website, you can actually search out a particular dealer by name and city to discover if they are or aren’t registered with this regulatory body.

There is also the Ontario Motor Vehicle Industry Council (http://www.omvic.on.ca/) which regulates adherence to the Ontario Motor Vehicles Act.

Those auto dealers that are members of these organizations are held to a higher standard and as such are accountable. 

Thus, the best advice that United Auto Credit can give any prospective customer is to do your homework and ensure that you’re dealing with a reputable organization; one that holds themselves to a higher standard.

For more information, visit United Auto Credit – providing Bad Credit and Bankruptcy Car Loans in Toronto, North York, Mississauga, York, Brampton, Scarborough, Oshawa, Ajax, Pickering, Whitby and Ontario Canada.