Everything You Should Know About Buying an Ex-Rental Car

If you’re considering buying an ex-rental car from a dealership in Ontario, you're making a choice that can offer great value. Ex-rental cars are vehicles that have been used by rental companies and are now being sold. Here’s a simple guide to help you understand the process and what to expect.

 

 

What is an Ex-Rental Car?

An ex-rental car is a vehicle that was previously part of a rental fleet. Rental companies often sell these cars after they've been used for a certain period.

 

They typically have higher mileage but are usually well-maintained, as rental companies follow strict maintenance schedules.

 

Why Consider an Ex-Rental Car?

• Cost Savings: Ex-rental cars are often priced lower than brand-new vehicles. This can mean significant savings, especially if you’re looking for a recent model.

 

• Good Condition: Despite being used, ex-rental cars are generally in good condition. Rental companies maintain their vehicles to keep them in top shape. Plus, these cars often undergo a thorough inspection before being sold.

 

• More Options: Rental companies have a wide range of vehicles, so you might find models that are not always available in the used car market.

 

What to Check Before Buying

• Vehicle History: Even though ex-rental cars are generally well-maintained, it’s important to check their history. Ask the dealership for a detailed report of the car’s maintenance and any previous issues.

 

• Inspection: Have the car inspected by a trusted mechanic before finalizing the purchase. This will give you peace of mind about its condition.

 

• Test Drive: Always take the car for a test drive. This helps you assess its performance and ensure it meets your expectations.

 

Financing Your Ex-Rental Car

When it comes to financing, many dealerships offer various options. However, it's important to know that the process of verifying your income is handled by the lender, not the dealership.

 

Lenders will review your financial information to determine your eligibility for a loan. The dealership facilitates the financing process but does not verify your income themselves.

 

Benefits of Dealership Financing

• Convenience: Dealerships often have relationships with multiple lenders, making it easier to find a loan that fits your needs.

 

• Special Offers: Some dealerships may offer special financing rates or promotions for ex-rental cars, which can make your purchase even more affordable.

 

Key Considerations

• Warranty and Coverage: Check if the ex-rental car comes with any warranty or coverage. Some dealerships offer limited warranties on used cars, which can be a bonus.

 

• Ownership Costs: Consider the ongoing costs of owning the car, such as insurance, maintenance, and fuel. Even though you’re saving on the purchase price, it’s important to budget for these expenses.

 

By following these simple steps, you can confidently purchase an ex-rental car and enjoy your new ride without any surprises.