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- เผยแพร่เมื่อ 30 ก.ค. 2024
- What To Know Before Buying Your First Car in Canada! To Buy A Luxury Car or Not? | xoreni ft. Folarin
Flo's Blog Post - / when-bad-money-decisio...
So you want to buy your first car in Canada? This video will cover what you should know before you make the purchase. My guest, Folarin, purchased a luxury car a few years back and upon reflection realized he neither needed nor actually wanted the car. Before you purchase your car, watch this so you don't make the same mistake!
After we go into Folarin's story, we answer the questions you had about leasing vs financing vs buying cash, buying a new car vs a used car, whether a house or a car is a better investment, and much more. Enjoy!!!
Please like, subscribe & comment. Let me know what you want to see next!
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Disclaimer: The views and opinions shared on this channel are for informational and educational purposes only. This is NOT financial advice. Always do your own research and due diligence before investing.
xo, Reni ♡
CHAPTERS
0:00 Intro
1:49 Meet Folarin!
2:22 Folarin's Story
10:54 Leasing vs. buying cash vs. financing
16:11 New car or used car?
18:02 Dealership or Private sale?
19:49 How long is too long for a financing period?
21:10 What costs do I need to consider when purchasing a car?
23:22 What is a better investment - a house or a car?
Have you bought a luxury car? Do you regret it?
I have not yet but I do think I will buy one. Only when I have enough to buy it cash.
@@dk9799 nice!! No going in debt for liabilities :)
peace of mind is very important
extremely important! without it, there is no point of making a decision.
Almost 31 and haven’t bought my first car yet 😅😩 Toronto life
same
there is really no need in toronto is there!
Love these lives
thank you lovely!
Lol I just bought that car🤦🏾♂️. I feel the same way he does
😂 you keeping it?
What's an even bigger mistake than buying a new Luxury car, Buying an older luxury car, like a 14 ye old BMW 5 series, That is why they're so cheap, ppl don't wanna deal with the servicing / maintenance. A ton of young ppl in our area jump into this hole and unable to get out of it while it consumes every penny they got. I know someone here who pays almost $500-Cdn/mo on insurance. He is under 25 and already had a few tickets. Don't repeat his mistake.
Thanks Reni, Peace
$500/month?! omoooooo. That's wild! Thanks for sharing and warning us.
After the first service and oil change it started to hit me
💀💀💀
I purchased my car was $800 it was a clunker but it was all I could afford my second car I got used and it was nice but I had a high interest rate but it didn't break down until a year after I paid it off my third car was new the intrest rate was low but the one thing I was upset I did with both my cars that I purchased from the dealership is by the extended warranty for both my cars I only had on claim on them and I paid thousands for them
Better to have the warranty and not need it than need it and not have it I guess!!
@@xoReni no each claim was under $300 and the warranty was around $2000 dollars so no
@@victorybeginsinthegarden gotcha!
@@victorybeginsinthegarden warranty has definitely saved me! It’s better to be protected 😊
@@xoReni the warranty that comes with the purchase of a new car is good but I purchased the extra warranty it is a RIP off
How did you go about purchasing your car?
My guest?
@@xoReni no like how you Reni went to get your own car. Did you save etc?
@@musiclover1429 mine was a hand me down! I believe I mentioned that in the video ☺️
😬
@@musiclover1429 ??