So... we're looking at buying a car. I've never done that, not even close. My sister's information is years out of date, like 10 or so. Things are different today
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If you are looking to buy new rather than used, you can probably get a noticeably better interest rate on the loan from the car dealership than from a bank -- they often have incentives that help that way. If second-hand, there is rarely the same incentives, but worth seeing what they can offer vs asking your bank. Doesn't hurt to ask your bank, too, though.
A hybrid is likely to be noticeably more expensive than the cheapest economy cars around. It is not entirely clear just how much "greener" they actually are. They pay-off time on fuel-savings vs car price may be surprisingly long. And, even longer if you account for the interest on the extra borrowing to afford the more expensive car.
For insurance rates, either call a bunch of companies, or consider calling an insurance broker -- they're job is to find you the best rate.
Anything battery-operated does not do very well in very cold weather. They will be running far more as a gas vehicle than an electric.
For final prices, I think many car manufactures now have online-estimators for pricing. Exact dealer price may vary a bit (especially for sales events), but it will give you a good idea of the ballpark. e.g. for Hyundai Canada: http://www.hyundaicanada.com/Pages/buildprice/step1_models.aspx
Beyond that, the dealer will try to convince you to add things like rust-proofing, service, etc. Those are all optional. Online estimators will probably not cover those, but they are not part of the price of the car.
For credit-worthiness, I don't have a solid idea of what they check -- but it includes past history with credit (loans paid off, credit cards and payment history on them) as well as current debt load and current financial commitments (e.g. rent) in order to estimate your likely carrying capacity for debt. They may, also, include estimate of stability of employment -- you're government indeterminate, right? If so, that should qualify high on stability.
I've been government-indeterminate for 17 years, that should help, and I almost never carry-over my credit card.
One online insurance comparison rate site - for however trustworthy that info was - pointed out that one company doing auto rates was the same as I currently have for rental insurance, so I'll check with them as well.
If you are looking to buy new rather than used, you can probably get a noticeably better interest rate on the loan from the car dealership than from a bank -- they often have incentives that help that way. If second-hand, there is rarely the same incentives, but worth seeing what they can offer vs asking your bank. Doesn't hurt to ask your bank, too, though.
A hybrid is likely to be noticeably more expensive than the cheapest economy cars around. It is not entirely clear just how much "greener" they actually are. They pay-off time on fuel-savings vs car price may be surprisingly long. And, even longer if you account for the interest on the extra borrowing to afford the more expensive car.
For insurance rates, either call a bunch of companies, or consider calling an insurance broker -- they're job is to find you the best rate.
Anything battery-operated does not do very well in very cold weather. They will be running far more as a gas vehicle than an electric.
For final prices, I think many car manufactures now have online-estimators for pricing. Exact dealer price may vary a bit (especially for sales events), but it will give you a good idea of the ballpark. e.g. for Hyundai Canada: http://www.hyundaicanada.com/Pages/buildprice/step1_models.aspx
Beyond that, the dealer will try to convince you to add things like rust-proofing, service, etc. Those are all optional. Online estimators will probably not cover those, but they are not part of the price of the car.
For credit-worthiness, I don't have a solid idea of what they check -- but it includes past history with credit (loans paid off, credit cards and payment history on them) as well as current debt load and current financial commitments (e.g. rent) in order to estimate your likely carrying capacity for debt. They may, also, include estimate of stability of employment -- you're government indeterminate, right? If so, that should qualify high on stability.
Hope this helps a bit.
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One online insurance comparison rate site - for however trustworthy that info was - pointed out that one company doing auto rates was the same as I currently have for rental insurance, so I'll check with them as well.
Thanks for the comments!
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