SMART Car Financing: Save Thousands $$ With This Car Dealership

hi everyone good evening I'm so excited finally we're here today welcome if you can see me please let me know if you can see my face and you hear my voice let me know um or if you have any issues getting into the webinar also let me know so I'm going to give everyone a little bit of information or a a little bit of time to introduce yourself in the comments tell us where you're watching from share this life with your friends as well we're just going to give a few minutes and wait for a few more people before we start so what's your name where are you joining from just leave it in the comments who is going to be the first person to introduce themselves if you can hear me actually let me know that you can actually hear me share the life with your friends what is your name and where are you joining from okay okay so I see a few more people joining um Mak here oh God thank you for being the first person thank you thank you you're also welcome you're from Vancouver Ontario people how can you let Vancouver people to be the first people to say hello and to join the live um so wait for a few more people um more of you should tell us your name where you're joining from your name where you're joining from we're going to start in a couple of minutes we won't waste too much time okay so while I'm waiting for you to introduce yourself I'm going to introduce myself my name is shasi and this channel is called don't go broke TV and this is a channel where we talk about you know money finance and how to leave a rich life in Canada we also share money management tips tips for you to save money tips for you to also grow money and this U webinar that we're doing today is also in line with that to help us save money when it comes to buying cars in Canada yeah and if you've lived in Canada a bit you also know that getting a car is not a luxury it's almost a necessity yeah because the transport system in some places is not so great yeah and if you have a family or you need to move from one place to the other you do need a car and what most people's problem is is they don't have the Monies to buy a car upfront So today we're going to be sharing smart financing tips on how you can um get a car in Canada and save thousands of dollars that's what we're going to be talking today and we do have a guest who is a car dealer very experienced and he will also be working us through every thing that we need to know when it comes to financing a cast smart financing tips in Canada um I'm going to bring our guest on on stage um so guys um like I said before we do have a guest in the house his name is uch and like I told you he'll be sharing with us some smart tips and strategies to finance a car in Canada um we've been getting quite a bit of questions especially from new commers in Canada asking how they can purchase a car what they can look out for how do they qualify for financing and stuff like that he's going to be answering all of those questions so as we go along if you have questions please leave them in the comments we'll answer each and every one of your questions and I'm sure by the end of this live you have every information you need about smart financing so uch thank you for joining us today um so can you just introduce yourself um what you do and we will just start with the questions that we have yeah thank you um sh I hope you can hear me yes I can hear you okay thank you for inviting me to your channel and welcome our viewers and audience um thank you for having me today like you said um I'm an experienced car dealer I've been in Industry over 10 years currently licensed and registered um to sell and to buy in Ontario and all across Canada and today we're looking to get more a lot of people especially new immigrants uh on the road um so they can have affordable car the right car for their family and for whatever they need it for yeah so that's it guys so we're going to talk about how to get a car so I'll just dive in with the first question um so when people are looking for a good car someone like me I don't even know what to look for um so what should they be looking for what are the key things to consider when you want to buy a car so thank you for that um looking for a car can be a lot of uh it can it can take a toll on a lot of people sometimes people could just go on website and then they they're not sure what to what to go for especially in this age where information is out there but the challenge is um do you know the right thing to get and are you getting the right thing the easiest way that I've seen people go get a car is just jump on Facebook and see who selling and word but over the years I've I've I've from stories of customers I've seen a lot of people make a lot of big mistakes and big issues and especially for new immigrants who are not um used to the system over here um they they prefer to still do things the traditional way and I don't see a lot of them come to dealership um and take advantage of getting a very reliable car so um going with a dealership is still the best way to get a car because the dealership one first is regulated by the government right and they will save a customer or any client the hle of going into a wrong decision and there's one M that I I just want to correct out there um most people especially new immigrants um they think about financing a car something no goo area they're like I don't want to get into big depth no it's just um because of the mindset of where they're coming from or how things are being done over where they coming from where you do just cash deals but in the system you you you want to understand that things are the system is very accountable and it's very integrated so that's why financing is is part of um the best way to get a cup in fact when I was doing some research recently I found out that 70% of cars driven in Canada are financ can you imagine that so that means the the the rest 30% who are not driving you probably are not driving the right car so the system has already made itself that this is the best way to get a car and if if you're going to be very Progressive with whatever car you want in life this is the best way right so that's one me I just wanted to clarify there's another me that oh I don't want to be paying monthly and weekly actually in revers going for finance deal or financing a car makes you save a car in a long save save money in a long run myself I've been an example of it I remember long time ago when I wanted to get a car I when I I went on financing I financed that c for like 16 months that's 5 years at the end of that five years in fact the feeling when I started was like oh my God I'm looking at my community not not a lot of people do that but at the end of that five years I sold that car what I bought it I buil my credit I was able to go on to to get a house then because my credit was built and think about it if I wasn't paying that money monthly I could have been spending it somewhere else again I was driving a very good car at that time so you can see that the system kind of encourages that and protects people so when 70% are doing something then probably is right than the 30% so you asked me a question I just wanted to divert to that just to clear best of getting a car is through financing and the best place you can do financing is through dealership like our own dealership and in case if you're looking to do that you can quickly I know sh is going to mention that later on you can quickly go to our website Anam chariot.com on the on the homepage and just um hit the button pray approve and then just fill out the form we're going to reach out to you to continue the process so but that's aside there are just traditional way and normal ways that people do their car first thing that I've seen a lot of customers make a lot of mistake is that when they come they don't even know the value of what they trying to get yes you want to get a a CRV 2017 do you know the market value you know what it's going for and most times I've seen people give already close price and say this is my budget but I usually encourage people and say try and try and go understand what the market is what is this car selling out there so if you're even getting a car you're getting a good deal you know whether you're getting a good deal what is the Benchmark of what you're trying to do I usually refer people to auto trader this it's one of the biggest site out there that you can look out for cars and see what cars are sold right but not necessarily you can always get good deals here but it gives you a fair a fair understanding of what you're actually looking for right because almost all kinds of cars are those platforms right so that's the first thing I tell people go on and understand value of the car that you're getting into now there's another aspect which getting a car through a dealership does that an average person most times except you're in the industry you don't understand that is to understand the car you going for every car has a history this is where the the biggest mistake happen usually people will write on their ad on Facebook whever they you're getting car in perfect condition in good condition says who this is where going through a dealership matters because we have systems whereby we can go into the pass of the car from the day the car was released from the manufacturer to owners of those cars we can see what has been done through that car is it an accidental car is it a saage car has there been a a rebut on the car has there been consistent maintenance on the car we see all those histories of the car and we consider these things um having in mind um industry standards even before we sell car that's why when I started I said we are regulated by onic onic is Ontario motor vehicle Industry Council so every dealer is being regulated we have due um due diligence to do whatever whatever car we sell to the public so we have a platform whereby we can track this things about a car right just like your name is sh every car has a name and it's called a VIN yeah we had them we have a system we can track what has happened to the car is a good car to buy it does it really wor it so this is one big Advantage why you want to go to a deal right so I've mentioned understanding the car value try to get the market value what it means the condition of the car right I just mentioned that thirdly I usually tell people set a budget right yeah um try to know where you are and this is my logic and my my concept I say car is a is a progressive um is a progressive um property buy where you are live right if you cannot afford um the big card that you want why not go for finance right so understand your budget and what you can and in finance we usually advise advise people who look at how much how much do you earn monthly how much is your housing how much is can you because car usually the the second largest expenses from your housing so we consider that too is also industri standard that we don't we don't bug your budget over over 50% of what you should be paying in in in car car payments right so we we want you to understand that aspect your budget now there's also the need of the car what what do you need the car for if you need a car from8 to B Just For Work Grocery and back and forth why do you want to go get a Lamborghini right it's for necessity like how you said why not go for something they can last you for now and especially from people from my descent we try to buy cars and interna interal assess use it for 5 years 10 years no you don't have to right I've seen a lot of people that change car every year there's nothing that stop stops you and that's why in dealership there is there is a there's a provision for what you call trading so you can drive in a car for a year and then you're like okay it's time to move on I'm a little bit financially buyant we bring in the car we assess the car praise the car um and then um we put it into the new car you want to get the value of it and that reduces the price of what they trying to get right so that's one as of it understand what do you need the car for and then the one I already talked about is the condition of the car which we do a d diligence most people don't have those knowledge and expert to to understand what a car is how good car that you're getting so I'll just stop here there's a lot of things we can talk about there okay that's good so from what you've said so far it's important to know the condition of the car the history of the car you have a budget yeah work with your budget and you know what you need the car for okay so I wanted to ask something so a lot of us a lot of people who might want the cars might be newcomers who don't have a credit score so what role does a credit score play in car financing and if someone is a new U newcomer in Canada how can they get around the credit card the credit score issue okay yeah I've had um recently um people in those uh those shoes um who doesn't have a lot of credit um luckily there are some companies um right now who are observing um clients like that who understand that they don't have a lot of um credit score um in Reverse they try to um they try to ask for more deposite right unlike other people has a good credit and good job but one good thing is that you have to prove that you you can pay for it which is a good job letter right um and a paycheck and then they can they can absorve it so that's one way around that other way is that why not go for something cheaper one year I usually advise them one year two years and then you can bounce back and get a get a better car and sometimes in fact there's a client of M that he could actually pay off for the car he went it was a very um affordable car but he paid like 80% of that car and then the remaining 20% he financed it the reason why we took that strategy is that he's building he's building his credit with that particular company that approved them so after one year he could come back and say okay I now want a better account and at that time he has had a better credit score and let me also tell you something why is very important there are few things that build your credit apart from your credit card and other than car car financings it very crazy so yeah if you could if if somebody get into car financing and you can prove within a year that you can pay this without Mis payment you're taking very seriously so when it comes to car financing is there any usually it's like I don't know five years is there any best length of time to have it is it best to have it for like one year two years or five years or the longer the better or the shorter the better which one well depending on the car um most um best banks and best um financing companies go for five years right um the newer cars are usually five years right the longer the the years the shorter the payment that's another trick to so it depends on you most times when we get clients approved we give them options of do you want to pay a little bit highly for shorter years or um low for longer years um The more I've seen in industry is 60 months that's five years right and sometimes you have option to pay it off so nobody even stops you after one some people say some Finance Company okay you have to hold it for one year and after that you have the Liberty to pay it off oh okay that's good so um is there are there specific times of the year when it's best to buy a car if so when and why okay well summer now a lot of people are in the market getting cars that's the best season for our dealers for dealers because we prepare for the summer months when people can come around and test cars and and have choices so summer is the busy month but really when is the best time to buy it doesn't really environmentally or climate wise it doesn't really look un favorable winter months are usually the best especially after the Christmas when people are broke after Christmas January people have spent all their their money Christmas gift and all that yeah there a lot of more deals out there at that time and if you're a smart buyer you can take advantage of it um especially private deals we dealers we also have um ways we can get car but interestingly most of our invent doesn't come from private um private deals it comes to options and we still have our deals time okay so so the winter time is the best it is usually especially after the Christmas yeah yeah wow okay so when it comes to car financing what are the common mistakes that people make when financing a car and how can they avoid them is there any do the dealers have some tricks of their sleeves what are the mistakes that people make and how can people be aware and avoid them well first of all that's why I mentioned the the checklist of getting a car understand the value of your car right sometimes when you don't understand the value of the car what is been sold you probably might be sold overpriced right so but there's also a checkpoint um in the industry especially with the finance company that before a finance company or a bank can approve a car loan they have what you call a black book of the value of the car it's like a benchmark of what the car wor in the industry so usually they don't approve more than that more than the worth of the car right so that's um I think the the the the government and the the the regulatory body is helping in that before it used to be that bad that people don't understand the value of the C they P twice in that and usually also it is better to go with um I would say the the big Banks and the the big um finance companies than private lenders because those ones are not widely um regulated also understand the terms of the of your contract yeah right understand that some sometimes are very strict that if you miss a payment twice your car is going reposed and you're indepted so you have to understand that and also the ter and I mentioned about the Clause of you have the Liberty to pay it off yeah so Finance Company can say okay after six months we can pay it off okay so read the F prints like they would say yes very important fine prints very important to read the fine prints so um let me get back to everyone who is watching thank you so much for being here I hope you're getting value so far if you have any questions you can drop them in the comments you have any questions about buying a car are you trying to finance a car are you confused about you know what to buy a car do you have a particular amount in mind and you want to know what kind of car you will get whatever questions you have just leave them in the comments um and uch will definitely answer answer and get back to you okay so um also the website is on the screen like you said uch they can go there and put in their details and pre-qualify right they can know how much they can get for finances so guys you can use the website below and of course their contact details are also there for you to contact them so I know that you said you are licensed not just in Ontario but other places so if someone is in another Province because we do have people from other provinces how would they be able to if they contact you would you be able to help them as well so the good things in the good thing in the industry is that we all networked if I'm a dealer here have have dealers all across the provinces of Canada in fact I I recently had a client from Al who wanted a car and I'm already looking for the car for for her the auctions and I have dealer over there that I also um get car and deal with because the interesting thing about deas is that we exchange cars right so this network has already been built so we can easily get you to go to another dealer and get another car and the whole trans is still coordinated by me so that doesn't stop anything you can also be approve like okay I had a customer that was last month who was approved financing from another dealer but saw the car he wanted to get from our own dealership and we still we completed that transaction so that's the cool thing about this industry we're very integrated and it's easy to navigate yeah okay great so we have some questions um in the comments um Mar is asking can you change or increase your payment amount along the line with car financing so if your income increases they allow you to pay more yes there there a lot of like I said that the big uh the big banks have this flexibility in their financing options you can increase it I know five banks that we use they give that um that most most of them say six months after six months then you can make change itre yeah um okay do you finance a student without a job it can be very really hard um there are financing companies like that but sometimes it might be a little bit higher rate because you don't have a job and they require um over 50% deposit of the car right and if you're in the shuee you have to understand right what what will you hold as a Cal for a student right who doesn't have a job so I usually um advise people in this save up a little bit get a little car and then like I said um if you want to build your credit pay a larger percentage of the car and the little per of it is just financing it can't be $1,000 and you just pay $100 monthly it's just counting into your building off your credit yes so so yes so Caleb I think the best thing is actually to get a job so that they are more comfortable giving even if it was you you would not be comfortable with giving a c someone who doesn't have have a job so maybe you just look for a car you can actually afford maybe pay up front and then later you now go for the financing yeah so there's another question here how much money I need to buy a car which I can use for deliveries or Uber as a new student coming to Ontario next month how much let me put some let me put is there any I don't know that might probably not be your expertise people want to do deliveries or Uber particular cars they should buy particular that of course there are I think Uber right now usually require cars not um greater than greater than 10 years in years yes so they want a better car and a sound car um well you also want to go for very efficient I've seen a lot of Uber drivers who drive hybrid so for gas reasons Toyotas and Hondas Chevrolet these are most of the cars that will sold they all for delivery and huzzle huzzle um drivers and all that yeah so we can get all those cars yeah these kinds of cars yeah so he's asking is that how much he wants to have an idea of what how much he should have like the budget and all of that well it's still depends on the market price um yeah what does the car want if you want a 2017 H Civic you should go take a look maybe in um auto trade and find out how much do you sell it because those this websites are there to for you to see how much is going for how much I will give you an idea for how how much it is okay good good good guys if you have any more questions please leave them in the comments and we'll answer your questions so um I wanted to ask this question so when someone buys a car there's there's a registration process yeah so what are the other things that you need to do in terms of okay you need to buy your plate number I think and register can you walk us through that process and is it the same with other provinces yes um mostly all across Canada is is kind of the same I think Quebec is a little bit different um Quebec doesn't require certification of your car like Ontario um they make you go through safety standards the first thing that shows that you own a car is the ownership in fact that's that's the bill of sale that it kind of represents that a car has been transferred from one entity to to another that's the ownership that's the most important document of a car it shows that who owns this car so if you're getting a car selling a car that's the first document you get is an ownership you get a copy of yours and then you go to the ministry and register it into your name right the the good thing is that a dealer helps you do this you don't have to work through the processes because we already have alliance with the ministry we have their papers and we can fill out those things because they trust us we we all government um agencies right okay so it's easier so that part will help you with it the certification the government of Ontario requires that every car that is going from one point to another sales like exchanging transferring from one person to another go through a safety condition so is a lense mechanic who goes through the car and certify that this car is good enough to apply the road of arus and they give you a safety certificate right so you're also in good hands if you go through dealers because we know what the government okay uh we can't hear audio okay guys if you have any questions please drop it in the comments and you can go to the website to pre-qualify yeah to see if you qualify for for financing financing weite is on the screen for you to go to okay hear is back yes can hear you okay my mic um just went off yeah I just replaced it okay sorry guys so I was talking about the the registration process of a car talked about the ownership which is the most important document that you owns a car and then the safety certificates for Ontario Quebec doesn't require safety certificate but most other um Province do require there is um the insurance because every car is required to be insured and onario that you have to get from your insurance or your Banks or insurance company um and then your driving license so um for Ontario you required to have um minimum of G2 license register a car right so this four pieces of documents you can register a car you can do it individually yourself work into the ministry with this four documents and register some people in the past I've seen some people say they drive in the car to the ministry for the ministry to see no we don't have to see just the document gives you um access to register if you if you do it through the dealership you don't even have to visit just come in and go with all the stuff yeah and that's the beautiful thing yes so if you buy through a dealership you don't do anything you just come they give you everything all your papers give you a plate number everything you don't need to do everything yeah that's yes so um so I just wanted to um you to help tell people where they can find you the website is on the screen um do you have have a phone number when they go to the website what do they expect to see there how do they fill out the prequalified form and all of that yes so our website is the best way to get in touch with us um it helps us to track our track our um our traffic because we have a lot of people do contact us so we know we are going to reach back to you especially now we are just promoting car financing just go on our homepage ww. Anam like you have on your screen.com you will see the homepage get preapproved fill out that form if you're going for a car a car financing so it asks you a couple of some questions just we understand um your choices and what you're looking for and then we'll get back to you if you want to sell your car or you want to buy do a cash deal you can click the the second um button which says sell my car and then form is a shorter form we also reach out to you that's the best way um I have handles on Instagram it's Anam Chariot you can message me on that too we also have our business number on our website you can also reach out to me okay so great so guys if you go to the website all the information is there if you fill out the form they will definitely call you so just be rest assured you fill out the form leave your phone number and your email or whatever information they will get get back to you um so as we're rounding up um we basically have given all the advice that someone who need will need especially newcomers when it comes to financing a car and you know a lot of newcomers are coming to Canada at this point so guys if you if you need a car please go to that website and if you have any questions as well you can reach him on Instagram at Anam chat.com and I guess on their website as well and ask all your questions yeah yeah so as we round up um probably just one more piece of advice something just to encourage people who are trying to you know finance a car you know because of where some of us are coming from when you talk of financing sometimes SC they think you know you can think all sorts of things but it's a rather simple process because I've also gone through it very I was surprised at how simple it is yes so just one last piece of advice and also one last word for for everyone with watching today yeah so um is an easy process um it makes um um one good thing I love about North America is that um services are giv access to the middle class so car financing is one way that you could drive the car of your dream and the good car for you and the also good thing about it is that you can progress and upgrade in your car there's some people if you don't get into car finance you probably not going to drive a new car your life that's just the truth because even a rich man will not take out um thousands of dollars to go buy cars they just tell you that's how the system is been design that you can have access to these things you just have to show trust to make your payments and the cast still belongs to you right um so you can avert some of the issues of having used car older used cars they repairs in fact I wanted to share a story in the begin I forgot about it a client that just to one and bought a private deal I don't think I don't think he used the car for a couple a year and then the transmission went and then the car the client was calling me back but it's just to tell you there's danger out there that you can AV going through a dealership right we do this diligence to understand that just a transmission an engine problem can wreck can wreck a whole dollars out there right so you still best to go through a dealership like us and we're here to support you in your journey of getting good car and being being on the road interesting fact again there are 26 million cars in Canada driving on the road so you can be one of them yeah yes yes and and and sometimes when you want to do the private thing if I mean if after a few months something happens you cannot go back and tell them to give you your money back but if it's a deal like this you can go there with the car be like see the car you gave me look at what happened yes because you know because they are licensed and there's an office and all of that so that's usually the advantage of using a dealer rather than doing a private deal right so guys yeah so I hope that everyone um you have a bit more information if you have if you still have questions you can leave them so is asking if you have warranty for the yes I was going to talk about that then the person just got it yeah so we we mitigate some of those risks by we have a lot of guarantee warrantees that cover up some of those things the warranties that cover the power trend of the car which is the engine the Transmissions so you just drive with a peace of mind if anything happens it you just drive down to the dealership these things are changed ume of charge because you warranty yeah so there are so many options for you to to drive a smooth can then you don't have have to worry yeah it's true guys so if the car has any issue just drive it to them there they will change it but if it's a private deal you can't do that you can't buy my car and bring it back it's you're buying it as it is and carrying all the wahala okay so this has been a very very insightful and educative um session guys um you must admit that you have learned something so please don't forget to like the video if you have learned something share the live with your friends check out also all the other videos we have on the channel we talk about money how to save money yeah so if you use this car dealership you finance your car you're saving yourself thousands of dollars in many ways including repairs and maintenance that you would not have had to do if you went through a dealership and you also get this financing option so you can also pay from your job as you get money from your job you can continue to pay right so in the absence of any more questions let me just check if there's any more questions thank you very much for all your nice comments everybody is saying good job and they thanking you uch for enlightening them so in the absence of more questions guys thank you so much don't forget to like the video subscribe to the channel and watch out for upcoming life when we share more money management tips with you thank you and bye