If you're shopping for a car that will fit your budget, the price tag isn't the only thing you should consider. Naturally, you will be driving the vehicle, so you will want to keep fuel and insurance costs in mind.
InsuranceHotline.com created a list of the best-selling new cars in Canada that are also inexpensive to insure. Then they calculated an annual fuel-cost estimate for each one. Finally, they ranked the cars on this list according to how affordable they are (on average) to insure.
Budget-Friendly New Cars to Consider
Here, the InsuranceHotline.com list has been pared down to only include new cars that are affordably priced. Of course, if you're dealing with credit issues, it might be best to go with a recent used model. However, depending on your situation and budget, buying a new car may not be out of the question.
So, if you are looking to purchase a new vehicle, these compact and subcompact cars are great options. Keep in mind that the gas cost estimates are not going to be exact. These figures are based on driving 20,000 km per year, with fuel priced at $1.09/L (regular).
As you know, gas prices fluctuate constantly, but this list is still useful for comparing one model against another. Also, the insurance cost rankings are based on average driver premiums.
The Hyundai Accent:
The Hyundai Elantra:
The Mazda Mazda3:
The Chevrolet Cruze:
If one of these new cars seems appealing, check the web for pricing and availability in your area. And remember that good driving habits can make it possible to save money on gas and insurance no matter what you drive.
When Auto Financing Approval is Your Biggest Concern
If you have less than perfect credit and need to buy a car, you may be worried about whether or not you'll be approved for an auto loan. Sure, you could pay cash for an inexpensive vehicle, but you might end up with a ton of repair bills down the road.
The good news is that, even with credit issues, auto financing is available. You can buy a good, reliable used car or maybe even one of the new cars mentioned above. And Canada Auto Loan can help by matching you with a dealer in your area that is connected to the right kinds of lenders. Our process is quick and easy, and the service we provide will cost you nothing.
Applying with us will place you under no obligation to purchase a car, and our secure online application is simple to complete. Go ahead and get started today.