Newcomers are not required to have Canadian credit history when purchasing a new or used vehicle in Calgary.
No credit auto loans in Calgary are available through CALGARYDRIVES.
It doesn’t matter if you are new to the country and buying a new or used vehicle, chances are you’ll need an auto loan. With a car loan you can borrow up to the full amount of the purchase price and pay it back over a predetermined time. You can choose to make your car payments bi-weekly or monthly.
Buying Your First Car in Canada
Auto loans in Canada can be obtained by working with car finance experts who are familiar with no credit situations. Buying a car in Canada with no credit history requires special lenders who are willing to give new to country residents a chance with a car loan. Before you apply for auto financing in Canada it’s a good idea to create a
Checklist for Buying Your First Car in Canada:
- Know what you can afford for a monthly car payment
- Get an auto insurance quote
- Test-drive a few models to compare
- Apply for a car loan in Calgary
Deciding Whether to Buy or Lease your First Car in Canada
Before you purchase your first vehicle in Canada, think about how you will use the vehicle and what you can afford. When you lease a new vehicle for the first time in Canada, you pay a monthly amount for a set amount of time and at the end of the term you can return the car or buy it outright for the price stated in your lease agreement.
Remember: you don’t actually own the car you lease; but are still responsible for all maintenance and repairs during the term of your lease, just as if you owned the vehicle.
Ask questions like,
- Will you want to upgrade every few years or will you have your vehicle for five or more years?
- How many kilometres will you drive in a year?
- How do lease payments and conditions compare to a monthly loan payment?
First Visit to a Car Dealership in Canada – What to Bring
When you go to the car dealership, remember to bring the following with you:
- Driver’s License
- Proof of Employment
- Landing papers or Permanent Resident card
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