How Ontario Dealers Get Rid of Used Cars That Go Unsold.
Might find yourself an excellent deal!
Might find yourself an excellent deal!
Here's a big question used car shoppers are asking: Why are there so many used cars with only 5,000 kilometers? In 2019, super low mileage cars hit the market, and if you're quick, you'll get a car with low monthly payments.
The industry knows there's a ton of used cars with only 10,000, 5,000, and even 1,000 kilometers. There are people who get bored with cars very quickly, and they swap them out several times a year.
These car owners can afford to do this because they're leasing or taking advantage of today's low interest rates. Of course, when interest rates increase, there will not be all of these low cost used cars on the market.
And for those that can't afford the cars, they're being repo'd and put back on the market.
The third source of these used cars is from dealer demo or loaner programs. The fourth source is company vehicles. Even many automakers offer free or heavily discounted cars to their employees. And these cars are cycled quickly and put on the market.
To get these barely used cars, a special program may allow those with any credit and $0 down to get a car loan worth up to $40,000–to rebuild or improve their credit. A recent applicant had a 520 credit score and received a $26,000 car loan. And, another got a used 2019 car with only 120 kilometers on it for $10,000 off. This program has a 95% acceptance, and you may qualify in as little as 24 hours.
These are the two requirements: you've had an income for longer than 3 months and it's at least $2k monthly.
Start below and get dealer's special online-only finance pricing (this avoids the headache of in-person negotiating). Because dealers need to move cars – many drivers with good, bad, and no credit are getting loans if you meet these two requirements. See what you qualify for, and you may get approved for a low monthly payment auto loan.
