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TIPS: How to buy a car

- Always focus on the overall price of the vehicle, not the monthly or biweekly payments
- Remember to factor maintenance and insurance into your budget
- Finance for four years if you can, five years if you must
- Drive the car for as long as you finance it, don't trade in early if it's not necessary.
- Consider a slightly used car financed over a shorter period
- Pay as much of a down payment as you can
- Not everyone gets approved for a low financing interest rate
- If trading in a vehicle, use websites like Canadian Black Book to get a quote for the value of your vehicle. If the dealership under quotes you, consider selling privately.
- Ask about extra discounts: Some dealerships offer discounts for first time buyers and recent graduates, among others.