Is It a Good Time to Buy a Car?

With a substantial shift to online sales and a greater emphasis on health and safety, Canada’s automotive industry has been rebounding well in the post-pandemic recovery. Now as we get deeper into 2021, the question for interested car buyers is: Is now a good time to strike and get a great deal on a car?

Is now a good time to buy a car in Canada?

Albert Einstein is often credited with saying: “In the midst of every crisis, lies great opportunity.”

This universal nugget of wisdom is especially relevant to car shoppers these days.

Whether your current vehicle is sputtering along on its last legs, your lease is maturing, or you just don’t trust public transport anymore, you might be on the lookout for a new daily driver.

If you’re one of the lucky ones who can afford to shop around during this uncertain time, there are opportunities to snag an unmissable deal.

Across the nation, Canadian car companies and manufacturers are planning incentives and promotions to encourage more sales. From deep discounts to amazing financing rates, here are some of the deals you can find at dealerships right now in the Great White North!

Please note: Many of these offers are only for brand new vehicles. If you're in the market for a great deal on a used car, Canada Drives can help. See below.

Updated: July 2021

Toyota

One of the most popular carmakers in Canada, Toyota, has some incredible promotions on now as It’s Time to Toyota offers and incentives are underway in July.

2021 Corolla L has lease and finance rates starting at 0.49% with up to $500 in lease assist.
Corolla Hatchback has rates starting at 0.49%, and Corolla Hybrid financing rates begin at 1.49%.
Financing for the 2021 Prius Prime Upgrade starts at 0.99% for 36 months.
The ever-popular 2021 Camry SE has finance rates as low as 2.49% for 36 months while the Camry Hybrid SE begins at 2.79% financing.
Financing rates on the 2021 C-HR start at 1.49%.
2021 Avalon XSE or GR Supra buyers can get up to $2,000 cash incentive on non-rate financing or cash purchases.

Ford

Ford’s promotions in July are still quite aggressive. Most of the 0% interest rates have disappeared, like on the F-150 pickup, but incentives are still strong. In Canada, Ford promotions include:

3.49% purchase financing for up to 72 months on 2020 EcoSport plus $5,000 delivery allowance, or finance the 2021 EcoSport at 2.49% for up to 72 months.
Get AWD at no charge and 0% financing up to 72 months with the 2021 Escape.
Get financing at 0% for 72 months on the 2021 Edge.
The all-new 2021 Bronco Sport is available to finance for up to 72 months at 2.99%.
The brand new 2021 Bronco SUV is available for 3.49% financing over 72 months.
Financing rates start as low as 1.99% for 72 months on 2021 Explorer.
The 2021 Expedition has financing available as low as 2.99% for 72 months.
Financing rates as low as 0.99% for 72 months on select 2021 F-150 models.
2.99% purchase financing is on the table for 72 months on the 2021 Ranger, plus a $1,500 factory order bonus.
2021 Mustang models are available to finance at 2.49% for up to 72 months.

Stellantis Brands

After a merger with PSA Group, FCA brands are now under the banner of Stellantis. With Dodge, Chrysler, Ram Trucks, and Jeep under the corporate umbrella, there are plenty of deals available now from Stellantis.

Chrysler has 0% financing for 84 months on the 2021 Pacifica. Or, choose the new 2021 Chrysler Grand Caravan at 0% for 72 months. 2021 300 models are available at 3.49% for 96 months. 2020 Pacifica Hybrid has 0% interest for financing over 48 months.
The ever-popular 2020 Dodge Grand Caravan is available at 0% interest for 84 months. The 2021 Durango offers 0% for 84 months as well.
2021 Jeep models have advertised cash discounts currently with up to $2,309 off Compass, $5,166 off Grand Cherokee, and $1,748 off Cherokee. Finance the 2021 Grand Cherokee for 0% up to 84 months, or finance over 72 months with no interest for the 2020 Cherokee.
The award-winning 2021 Ram 1500 is available to finance for 0% up to 84 months or take up to $2,250 in total cash discounts. 2021 Ram 1500 Classic has cash discounts up to $8,750.

General Motors

Chevrolet and GMC have competitive offers continuing in the Employee Pricing promotion that you may want to take advantage of in July, including:

Thousands in Employee Pricing discounts on various models.
0.99% financing for up to 72 months on the Silverado/Sierra 1500 and Camaro.
1.99% financing up to 72 months on Tahoe/Yukon, Suburban/Yukon XL, and Silverado HD models.
0% financing up to 84 months or a cash purchase rebate up to $4,400 on 2021 Malibu.
2.99% for as long as 84 months on 2021 Blazer and Traverse/Acadia.
0% financing up to 60 months on 2021 Spark, 2021 Colorado/Canyon, 2021 Equinox/Terrain, and Trailblazer models.
Get 0% financing up to 84 months on 2021 Trax, or up to $3,800 cash purchase credit.

Honda

Honda has continued incentives for the month of July with their Get That Honda Feeling event. They include:

Lease or finance a 2021 Honda Civic LX Sedan for 0.99% for 84 months with a $1,000 bonus to lease or finance.
Fnance a Honda CR-V for 0.99% for 84 months with $0 down or lease at 0.99% for 36 months, and get a $750 bonus on either.
Finance or lease the 2021 Honda Passport at 2.99% for 36 months or the Pilot at 0.99% interest up to 36 months.
Lease or finance the 2021 Honda Accord SE for 36 months at 0.99%.
Finance the 2021 Honda HR-V for 1.99% for 36 months or lease at 0.99% for 24 months.
Finance the 2021 Ridgeline for 2.99% interest over 36 months or lease at the same rate for 24 months.
Some regional deals are also available on other models.

Hyundai

To help car buyers afford their vehicle in this time of recovery, Hyundai has a few great offers in place during the Hyundai Shift Into Drive sales event:

Finance a 2021 Hyundai Kona, Kona electric, Veloster N, or Tucson for 72 months at 0%.
The 2021 Elantra and Elantra Hybrid offer rates up to 36 months at 0% interest.
Finance the new 2021 Hyundai Venue at 1.49% for 72 months.
Finance the 2021 Sonata, IONIQ Hybrid, or IONIQ Electric for 0% up to 60 months.
Purchase the 2021 Santa Fe for up to 72 months at 1.49%.
The 2021 Palisade is available for purchase up to 72 months at 2.49%.

Nissan

Nissan is also offering programs in their Factory Approved sales event to make it worth a car shopper’s while at this time.

Finance the 2021 Qashqai for 60 months at 0.9% or the 2020 model at 0% for up to 84 months.
Finance the 2021 Rogue, Maxima, Altima, or Sentra for 0.9% interest over 36 months.
Finance the 2021 LEAF EV at 0% over 36 months.
2021 Kicks or Sentra can be financed up to 36 months at 1.5%.
Purchase a 2021 Pathfinder or Versa over 60 months at 0% interest.
Finance the 2021 Murano or Armada over 60 months at just 0.9% interest.
There’s as much as $6,000 cash purchase bonus on 2020 Titan models, $4,000 on 2021 Murano, and $7,000 on 2020 Pathfinder models.

Volkswagen

The world’s largest automaker, Volkswagen, is getting in on the action. Their incentives for July’s Great Summer Break Event include:

Up to $1,000 Summer Bonus Cash on select models.
Finance a 2020 Arteon for 0.99% APR for 36 months or take $3,500 bonus for cash purchase.
Finance a 2020 Passat for 0% up to 72 months along with a $4,000 discount.
Choose the 2021 Jetta, Golf, or Tiguan with rates as low as 0% for 60 months.
Finance the 2021 Golf GTI, Arteon, Atlas, or Atlas Cross Sport at 0% for 36 months.

Kia

One of the most competitive offers during the coronavirus pandemic comes from Kia Canada during the Kia Has You Covered event.

In the July promotions, current owners are eligible for a 1% Kia Loyalty Rate Reduction and up to a $1,000 summer bonus on select models.
Finance a 2021 Rio 5-door, Soul, Soul EV, K5, Sorento, or Seltos from 0.99% up to 60 months.
Finance a 2021 Forte, Forte5, or Sportage for 84 months at 0%.
2021 Kia Stinger is available to finance up to 60 months at 0% interest.
2021 Carnival, and Telluride models can be financed for 84 months at 2.99%.
Finance the 2020 Niro/Niro EV for 0% over 84 months.

Shop Canada Drives today

If you're shopping for a pre-owned car, visit Canada Drives today. We're Canada's largest online vehicle retailer with hundreds of certified used cars, trucks, and SUVs to choose from. Get pre-approved online and get your vehicle delivered to your doorstep as soon as today! Take seven days to decide if the car fits. If it doesn't we'll come and take it back and give you a refund. It really is that simple!

Find out what great deals are available today!