For many people, leasing a vehicle is out of the question: at the end, they own nothing.
However, in some circumstances, a leased vehicle can generate equity which can be claimed at or near the end of the lease.
What is lease equity?
Lease equity is created when the vehicle is worth more at the end of the lease than the buyout price established when the lease began.
There are numerous scenarios and factors that can contribute to positive equity in a leased vehicle, including: strong market demand and high prices on the used car market for a specific, year, make and model; low mileage; and low lease buyout rate. All should be considered when calculating the book value for a vehicle nearing end of lease.
While there are many online resources to determine market demand and book value of a leased vehicle, it is also useful to shop the vehicle around to various dealers such as Victoria Premium Automobiles, including the dealer the vehicle was leased from. You will be surprised at how values and prices will fluctuate.
You can use any lease equity as a down payment on a new lease or choose to pocket the cash. Or you could choose to buy out the vehicle and continue driving it. The choice is yours.
Or, you can visit, or contact, Victoria Premium Autos. Your leased vehicle will be appraised, we will contact the leasing company for a payoff quote, and if there is equity, we will process the transaction, take possession vehicle and you can take the equity in cash or put it towards a replacement vehicle.
If you are nearing the end of lease on your car or truck, do not leave money on the table. Contact Victoria premium Automobiles and ensure you recover what is rightfully yours.
If your lease has expired and you plan on turning your car or truck into the dealership, be warned: you could be leaving money on the table.
There could be equity in your leased vehicle and there are ways to recover thousands in cash.
Rising used-car values due to tight supply and a big demand for quality used cars have put upward pressure on the residual value of lease returns. While most leasing companies are good at predicting the residual value of an end-of-lease vehicle, higher used car prices may mean your leased car cars is worth more than the residual value.
You have the right to buy the car at the end of the lease term and profit from the difference.
How to recover your leased car’s equity
Once your vehicle is nearing end-of-lease, shop the car around to dealerships such as Victoria Premium Automobiles, as well as the dealership you originally leased it from. Understand that dealers’ offers will vary, so you must look around for the best offer. You will get a baseline price and quickly determine whether there is any residual equity.
As well, keep an eye on resale prices of your specific vehicle model and year. Check Autotrader and local car lots and then compare the resale prices to the residual value in your lease contract.
The spread is the positive (or negative) value your leased car holds. If the value is negative (worth less than the residual amount), turn the car in at the end-of-lease. If the value is positive, you can pay out the residual value at the end of the lease and then sell the vehicle for a profit. Or, you can visit Victoria Premium Autos. Your leased vehicle will be appraised, we will contact the leasing company for a payoff quote, and if there is equity, we will process the transaction, take possession vehicle and you can take the equity in cash or put it towards a replacement vehicle.
Higher used-car values and a huge demand for quality used vehicles have conspired to drive up used-car prices. If you are nearing the end of lease on your car or truck, do not leave money on the table. Contact Victoria premium Automobiles and ensure you recover what is rightfully yours.
Used vehicles usually offer the best value in the automotive market.
This is especially true for models less than five years old.
The first owner has absorbed the immediate depreciation the moment they drove the car off the lot. As well, ongoing ownership expenses such as collision insurance and taxes are usually lower on used than on a brand new vehicle.
In addition, a used car offers the opportunity to get in a nicer car, possibly with more options, than you’d be able to afford new.
The challenge is navigating the sales process and ensuring you are getting value, quality and reliability in the used car as well as honesty, transparency and support during and after the purchase process.
Whether you are looking for a certified pre-owned or a private sale, or are buying from a dealer or neighbor, there is a wealth of online resources to lean on to help during the shopping and purchase process. From Consumer Reports “Used Car Buying Guide”, to Hemmings “Classic Car Price Guide”, to Edmund's “10 Steps to Buying a Used Car” - there are strategies, suggestions, warnings and tips for purchasing used vehicles of all prices, models and makes.
Jalopnik, Wheels.ca offer the latest car reviews, guides, road trip ideas, and advice to enhance the driving experience as well as a great tips that will help during the used car purchase process. Here are a few useful, common sense suggestions:
Research your purchase
Research the model to extensively to understand what model you want. Known weak points, the usual repairs and repair costs and price points. Use fan/blogs for that model vehicle when possible. Online forums frequently discuss reliability concerns, things like jerky transmissions and short-lived air conditioners. New-car reviews rarely mention these issues, but many owners aren’t shy about sharing their experiences. Look for any angry online posts regarding your desired model before venturing onto the used car lot.
Word of mouth
Friends and colleagues can provide invaluable input – let them know you’re looking for a used car. They can share their vehicle and purchase experience and even recommend a quality used car dealer.
Know how much money you can spend
It’s smart to know how much money you can spend on your next car. What is your trade-in worth? That money can go a long way in helping you leverage your used automobile purchase.
Dealer or private sale?
Private sales can be a gamble. You just don’t know what you are getting: maybe a lemon from curbsider who sells multiple vehicles posing as a private seller or a gem from someone who has babied and maintained the vehicle with the utmost care and attention. One strategy Victoria Premium Automobiles endorses and practices is up-to-date vehicle documentation, car histories and inspections.
Victoria Premium Automobiles relies on CarProof, a Canadian provider of vehicle history reports to provide buyers’ critical used vehicle information. A CarProof report establishes trust and transparency between a used car buyer and a used car seller by removing the guesswork about a vehicle’s past – replacing it with impartial, accurate and real-time data.
CarProof’s Vehicle History Reports include:
- Real-time data. Live, real-time data sources provide you with up-to-the-minute information from provincial governments, private and public insurance agencies and many other providers.
- Lien details. CarProof is the only service that offers cross-Canada lien and/or security interest information (look for our Verified products for this lien information).
- Accident data. Learn whether the vehicle has been in an accident, what type of incident occurred and the amount of damage.
- Registration and branding. Discover which provinces the vehicle was registered in and whether the car has been negatively branded.
- Full Canadian and U.S. history. See a complete picture of any vehicle history from across Canada, as well as the U.S.
- Bilingual information. CarProof’s website, vehicle history reports and customer service is available French and English.
Take a close look at the used vehicle
Wheels.ca suggests prospective buyers “look for paint overspray on door seals, mufflers and wheel-well liners — a sure sign of collision repairs. You may find shattered glass fragments under the seats. A mildew smell indicates a stubborn water leak. Fresh undercoating may be masking recent structural repairs. Lit warning lamps may be a portent of expensive engine repairs. Motor oil that resembles a frothy milkshake often means there’s a blown head gasket or worse. The transmission fluid should be bright red or reddish brown; any darker and there may be problems.”
Also, take the used vehicle for more than a spin around the block. Take a 35-minute drive, warm the used car or truck up, go over some speed bumps and listen for rattles and feel for the vehicle’s structural integrity.
Have your own technician inspect the used vehicle
An expert eye able to spot undisclosed repairs after a collision, unibody inconsistencies and alterations and paint overspray as well as mechanical problems is crucial. Spend the money and time to protect yourself and your purchase.
Rely on your instincts
Does the private seller, salesman or dealership engender trust and confidence in you? Are they ignoring questions and concerns as they try to strong-arm you into signing a sales agreement? If you’re not happy with the way negotiations are going, head for the door. Future vehicle problems can lead to future pain and angst if the private seller, salesman or dealership pay your little attention to your pre-sale concerns.
Do the seasons effect car sales trends?
Generally speaking, spring time is sports car and convertible season, autumn is for 4X4s, SUVs and other more rugged, traction-focused vehicles. Watch the advertising and websites of off-road car makers after a snowfall or sunny, blossom-intensive March, April or May weekend.
Get ahead of the rush
Demand for sports cars, convertibles and roadsters values go up as the temperatures rise.
Some industry statistics suggest the price for a four-year-old, 40,000-mile convertible can rise by $1,600 in the first three months of the year and as the spring season commences. These increases vary by make and model, but generally speaking, a Porsche Cabriolet and a Mazda MX-5 will each see incremental price increases during the spring time and as demand for convertibles grow.
Industry analyst Adrian Rushmore suggests the more premium the make, the bigger the price boost: “Convertibles experience dramatic seasonality, with premium brands seeming to rise first.”
However, the discrepancy in the value of the Canadian and American dollar places additional upward-pressure on used convertible prices in Canada. American buyers are snapping up quality, good-condition sports cars and convertibles in Canada for import into the States. This impacts convertible supply in the Canadian market, exerting even more pressure on pricing in Canada.
A saying used by car dealers is to “sell while the sun shines.” Both tire-kickers and committed buyers are now beginning to visit the car lots, showrooms and websites in search of this year’s sports car, convertible or roadster. Don’t get left in the dust.
When buying a premium used vehicle, a common concern is what kind of life the vehicle had before you sat down behind the wheel.
Prior to signing your name to one of the biggest purchases you’ll ever make, take the time to make sure you know exactly what you’re getting into.
Without doubt, the most important thing you can do is carefully check over the vehicle yourself. Look for anything that raises questions in your mind and ask the seller to explain.
The person who owns the car should be able to answer your questions, either because they’ve had a long experience with the vehicle or they had similar questions themselves of an earlier owner. If you’re not getting the answer your inner voice wants to hear, you know further investigation is required.
When buying a premium used vehicle, always be wary of anything that seems too good to be true. Remember that information is power and there are steps you can take to make an informed decision.
One great way to find out where your ride has been is through a service called CarProof. This Canadian company has built a name for itself in the automotive industry as one of the most trusted methods for tracking the comprehensive history of a vehicle.
The company was in the news earlier this year after a couple purchased a car they thought was new but had previously been in a collision. The couple didn’t find out until a CarProof history report was generated months after they bought the car.
CarProof is offered by more than 5,000 dealers across the U.S. and in every Canadian province, including Victoria Premium Auto in Victoria, B.C.
A CarProof report can cost between $10 and $72 and, depending on the level of report you want, will give you accurate registration information, note any liens on the vehicle, and detail any collision history. The report includes details about odometer status and whether the vehicle has been actively reported stolen. The report also tells you what branding the car has been given by the government – any designation other than “normal” should be questioned.
CarProof gets its information from hundreds of data suppliers in Canada and the U.S., including government sources and private companies that inspected the vehicle in the past.
Weakening loonie creates opportunities for importing cars into the United States
A drop in the value of the Canadian dollar has been a boon to exporters as it makes goods produced here cheaper for people in other countries, specifically the U.S.
The lower loonie also makes importing a premium Canadian vehicle attractive to Americans. Of course, there’s more to it than buying a great car from a Canadian dealer and driving over the border. If you’re a U.S. citizen looking to take advantage of current economic conditions, the first thing you need to do is give yourself some time. You’ll need to contact a number of agencies and make sure your paperwork is in order.
There are a few extra costs you can’t avoid, such as tariffs, and a few that could apply depending on the age and specifications of the vehicle you select. Ideally, prospective buyers are looking for a higher-end vehicle so the additional costs make up a smaller percentage of the overall price you’ll pay for importing the vehicle.
The rules are much different depending on the age of the vehicle. If it’s over 25 years old, you can avoid many of the hurdles that need to be jumped for newer vehicles. Just make sure you have proper documentation showing the manufacture date.
Generally, vehicles over 25 years old are classified as “classic or antique” and are subject to a 2.5% duty based on value at the time of import. Canadian-made vehicles are usually duty free, but you’ll need to be able to prove they were built in Canada. Older vehicles also don’t have to meet all the emissions or safety standards that new cars are subject to.
For vehicles under 25 years old, you’ll need to contact various U.S. agencies, including the Environmental Protection Agency, the Border Protection Agency and federal as well as state transportation departments.
Most Canadian vehicles have emission systems that are much the same as those required in the United States. The U.S. Environmental Protection Association recognizes this but notes that verification is still necessary.
According to the EPA, importers can verify whether the Canadian vehicle is identical to a U.S. certified version to find out if:
The Canadian vehicle has an emission label stating it is certified to United States EPA federal emission standards
The vehicle manufacturer’s United States representative has provided a letter of compliance that states the vehicle complies with all United States EPA regulations. Generally, EPA only accepts compliance information from the manufacturer’s United States or Canadian representative
The Canadian vehicle is not identical to a United States certified version, in which case you’ll need to do a lot more work, and likely pay a lot more money.
Even if the EPA agrees that your vehicle is the same version as ones certified in the U.S., another agency, such as U.S. Customs and Border Protection, might require a letter of compliance from the manufacturer.
You’ll also need to contact the U.S. National Highway Traffic Safety Administration. Check out its FAQ on the subject for more information.
Once you have the necessary paperwork in hand, you’ll have to pay a duty unless the vehicle was made in Canada.
U.S. Duty fees for vehicles manufactured outside Canada
Motorcycles: either free or 2.4%
There are different rules if you’re importing the vehicle for reasons other than to use as your new day-to-day ride. For example, if you’re bringing the vehicle in the U.S. to take part in races or plan on only having the car in the U.S. for less than year, you might not have to pay the same fees. Check with the U.S. Customs and Border Protection agency for the latest rules.
The website EZborder Crossing offers a few tips, summarized below, that might help:
Once you choose a car to buy
Contact the vehicle’s manufacturer for a letter confirming your vehicle meets the required U.S. safety and emission standards. The letter needs to note the Vehicle Identification Number
If the letter states minor changes are needed, your option is to get an authorized dealer to make the fixes and then show the invoice to U.S. Customs
If the vehicle needs major work or doesn’t meet U.S. regulations, you might have to contract a commercial importer – however, this will be pricey.
Crossing the border
Make sure you have the bill of sale listing you as the owner.
You’ll also need the statement showing the origin of the vehicle, the title and the Vehicle Information Number.
You’ll need to pay GST but not PST. The GST will be refunded later. Make sure to clean the undercarriage as the U.S. Department of Agriculture requires it to be inspected to ensure you’re not packing any foreign soil across the border.
When you get home, make sure you have insurance and that the vehicle is registered with your state’s Department of Transportation.
Remember, this is just a quick guide. Make sure you check with your premium auto dealer for help with all the details.
Leasing makes monthly payments on higher-end models more affordable
Leasing premium automobiles is proving to be popular option among a new generation of car owners.
According to a recent report, consumers between the age of 18 and 34 -- known as Millennials -- are more likely to lease cars than Gen Xers or Baby Boomers. That said, all three demographic segments are showing a renewed interest in leasing as an option when purchasing a new vehicle.
Millennials turned to leasing for almost 30 per cent of all new car purchases in 2015. That compares to about 27 per cent for the entire U.S. population.
Millennials are also leasing more than ever, up almost 46 per cent over the past five years. Across all generations, about 42 per cent more cars are being leased in 2015 compared to 2010.
The report is based on analysis by Edmunds, a leading automotive information company.
"Most Millennials understand and accept that they're on a tight budget and that they need to stick to it," Jessica Caldwell, Edmunds.com director of industry analysis, announced earlier this summer. "But it doesn't mean that their financial constraints limit them only to the most basic vehicles to get from Point A to Point B. If they see a chance to get into a nicer car while staying within their budget, they're likely to explore that opportunity. In most cases, leasing opens the door to the bells and whistles that they couldn't otherwise afford."
Leasing is typically a more affordable way for people to be able to drive more luxurious vehicles and is often preferred by people who don’t want to be financially committed to the same car for the long-term.
After reviewing car registration data, Edmunds’ analysts found that 28.9 per cent of all new cars were purchased by Millennials through leasing.
Crunching the numbers even more, Edmunds showed that youthful shoppers have a ceiling on how much of their monthly budget they’re willing to spend on their automobile. A survey conducted by Edmunds and the research firm Morpace found that 57 per cent of Millennials will only pay $2,999 for a down payment on a new car while 54.9 per cent will only pay $299 per month on a purchase.
Shopping for a car with those constraints essentially limits the choice to new models that are less than $20,000. However, by leasing, budget-conscious consumers can stretch the same $2,999 down payment and monthly $299 payments to afford premium automobiles priced as high as $35,000.
Dodge Viper SRT 10 same model as one featured in films and television shows
Some cars are more than just automobiles. And while most premium, quality vehicles can turn heads and make your morning commute a dream, not many have the movie star appeal of the Dodge Viper SRT-10.
The super car is currently one of the near-perfect condition used cars for sale at Victoria Premium Auto in Victoria, B.C.
The Dodge Viper SRT 10 has been the subject of much admiration since its production year, and was featured in episode 4 of the 2010 series Battle of the Supercars.
Viewers of the U.S. spinoff of the popular Top Gear TV show will recognize the Viper from an appearance in episode 1.01 of Top Gear USA.
On the big screen, the SRT 10 was featured in one of the best stunts in the movie Wanted, in which superstar actress Angelina Jolie rides the hood of a Viper during a high-speed shoot out.
The film is about a young man who learns his long lost father was an elite assassin for an ancient organization – a storyline we might expect from Hollywood! And while the movie didn’t win any awards for its plotline, it was visually stunning thanks to the inclusion of the impeccable Jolie and the Viper SRT 10.
Another famous film that starred the Viper SRT 10 is Furious 7, the seventh sequel to the iconic Fast and Furious franchise. This film is best remembered as being in production when the series star, Paul Walker, died in an accident away from the set. Walker’s family and friends finished the movie as a loving tribute to the star and the film went on to gross $1 billion faster than any other movie in history to that point.
The Viper SRT has added its sex appeal to numerous music videos, including Always Strapped by Birdman, and added a sense of luxury to films ranging from The Interview to Alvin and the Chipmunks.
The exotic car isn’t for everyone but for true fans of premium automobiles there’s plenty to love about the Dodge Viper SRT 10.
Check out VictoriaPremiumAuto.com for more information on this luxury automobile and for all premium auto sales in Victoria.
Premium auto owners embrace luxury extras
You’ve worked hard and earned the right to a new set of wheels, a premium quality vehicle that makes driving a pleasure. Your new car treats you right, and you’re going to want to spoil it right back. Here’s a look at four accessories that will make owning a luxury vehicle even more of a pleasure.
Perhaps the top accessory for your premium auto is the right kind of protective cover. Let’s face it, there are times when you’ll need to keep your baby parked outside the garage. Having a quality cloth cover can protect your vehicle from the elements while also keeping your investment out of sight and out of mind of potential criminals. A cover is especially vital if you live in a cold climate, which means pretty much anywhere in Canada other than the southern West Coast. But even those of us lucky enough to live in Victoria or Vancouver have to deal with unexpected hailstorms, relentless rain or fierce winds.
Heated leather seats
This is becoming a standard feature on many modern vehicles and is among the most popular aftermarket additions available. On cool winter mornings or after a long day at the office, the experience of slipping into a heated seat helps take the chill out of your commute.
Whether you’re an audiophile or someone who appreciates quality in all things, a precision sound system can be a euphoric experience when you’re on the road. These days, the expectation is that high-end sound systems come standard with high-end vehicles but there’s always a way to boost your system with a new amp or speakers.
Of course, the most important thing in your automobile is you. Did you know that many premium vehicle makers also have clothing lines? From fine driving gloves and a luxurious leather coat to an elegant watch and sunglasses, there’s nothing wrong with looking as good you feel behind the wheel?
Odds and ends
Sometimes it’s the little things that add up to make a big difference in your driving experience. If you can imagine an accessory, chances are it’s available on the Internet.
June's hot weather and strengthening consumer demand has meant a rush on drop-top vehicles.
The premium quality convertibles carried by Victoria Premium Automobiles have been selling quickly.
Victoria's CHEK News stopped by Victoria Premium Automobiles and spoke with manager and partner Ed Pierik about supply, demand and a potential shortage of premium quality convertibles as buyers south of the border look north.
Victoria Premium Automobiles was home – for a short period time – to a 2014 Bentley Mulsanne. Ranked among the top five ultimate luxury sedans by Car and Driver, the Mulsanne is a leather, wood, steel and rare earth garlanded showpiece for the wealthy motorist.
It is also very powerful and very fast.
The Mulsanne has a 6.75-liter twin-turbocharged V-8 engine lies beneath its big bonnet. Rated at 505 horsepower and an extraordinary 752 pound-feet of torque.
However, while the power and performance is extraordinary, it is the style, comfort and prestige that keeps the Bentley enthusiasts coming back.
According to the manufacturer, 170 hours of hand-crafted construction goes into each Mulsanne's interior. This includes hand stitching the leather-covered steering wheel, fitting and finishing the exotic wood that wraps the cabin, cutting and stitching the leather upholstery and pure wool mats and carpeting.
Here are a couple of images of this fantastic example of automotive art and workmanship in front of Victoria’s Empress Hotel.
A beautiful 2010 Lamborghini Gallardo made a pit-stop on Vancouver Island at Victoria Premium Automobiles in early June 2015. Sold and awaiting delivery to its new owner, the limited-edition LP550-2 Valentino Balboni is rear-wheel drive, powered by a 5.2-liter V-10 making 542 horsepower.
The Gallardo has since been replaced by the Huracán, but it is still a vehicle to behold. Only 250 special Gallardos were built by Lamborghini and the entire production was quickly sold out.
So, how does it sound and perform?
Let Car and Driver reviewer and Aaron Robimnson provide some insight:
"It’s more beastly than the slightly aloof slot car it’s based on, being louder and a little squirmy when accelerating and spearing toward an apex. A Balboni is definitely more intense and, with the gated six-speed manual to manhandle, more fun than the regular Gallardo," opines Robinson in August 2010. "Wallop the throttle, and the V-10 sounds like it’s shredding platinum Visa cards as the car pitches into a sensational YouTube-Clip-of-the-Week drift. But show anything less than Valentino’s own fearlessness on the gas, and the Balboni straightens right up, hunkers down, and—at the limit—plows."
Car sales remained solid in Canada in March as Canadians enter the traditionally strong spring retail season.
According to domestic automakers, March was another month of record sales performance. This is the second year-over-year increase.
Sales rose 2 per cent to 160,274 from 157,228 in the first month of the crucial spring selling season, according to numbers released by the auto makers. The U.S. market reported a slight decline in March.
However, it is interesting to note that Canadian sales rose overall despite declines by four of the top six companies in the sales rankings. Only FCA Canada Inc. (formerly Chrysler Canada Inc.) and Hyundai Auto Canada Corp. reported sales last month that were above year-earlier levels. Ford Motor Co. of Canada Ltd., General Motors of Canada Ltd., Honda Canada Inc. and Toyota Canada Inc. all reported sales declines.
Volkswagen Canada Inc. was the fastest-growing brand in the country in March, posting a 73-per-cent gain that was a record March and the second-best month in its history. Sales increased 46 per cent for Porsche Cars Canada Ltd. FCA Canada said its sales rose 2 per cent in March and puts the company in the lead ahead of Ford in the year-to-date sales rankings.
The value of the Canadian dollar is dropping and gas prices are plummeting. U.S. buyers are now looking north-north-of-the-border for quality used vehicles.
The Canadian dollar is now worth 80 cents US – this means a 20 percent saving for US buyers. Domestic vehicles and many imports are export-ready for the U.S. making the sales process much easier.
Americans purchasing a Canadian used car that is less than 25 years old must prove that the vehicle meets U.S. safety and emission requirements. Most cars sold in the U.S. and cars built for the Canadian market meet these requirements.
The sales and export process is made easier in Canada with export-specific tax, licensing and insurance services and processes.
When an American purchases a used Canadian vehicle they, require a bill of sale with the VIN# showing owner of vehicle and the Manufacturer’s Statement/Certificate of Origin, and the vehicle title.
Americans can obtain a temporary license plate / insurance card from the Canadian Province in which you are buying the vehicle and pay the federal Goods and Services Tax (GST) which will be refunded later. American buyers do not pay the Provincial Sales Tax as they are a non-resident of the province.
U.S. buyers who purchase their used vehicle at Victoria Premium Automobiles receive a CarProof report. CarProof is a Canadian provider of vehicle history reports – a critical tool when you’re buying or selling a used vehicle. A CarProof report establishes trust and transparency between a used car buyer and a used car seller by removing the guesswork about a vehicle’s past – replacing it with impartial, accurate and real-time data.
A CarProof report is especially important for U.S. buyers. This report will show the history of the car, including any accidents serious enough to block entry into the U.S. or require additional testing before clearance.
Once U.S. buyers have taken possession of their used vehicle, they must take the vehicle through U.S. Customs. The must have all of the documentation for the vehicle with them when they cross the U.S. border. They will fill out form CBP 7501 and possibly others.
Copies of these forms are on the U.S. CBP website.
Customs officials will inspect the used Canadian car, ensure it matches the paperwork submitted.
In most instances, where all paperwork and documents are in order, the import process can take less than an hour.
U.S. buyers of vehicles made in Canada or the U.S. do not pay importation duties. Foreign-manufactured vehicles may require payment of the following duties: autos, 2.5%; trucks, 25%; motorcycles, between 0% and 2.4%. As a returning U.S. resident, the total amount paid can be reduced by applying the $400 Customs exemption (and those of accompanying family members) toward the value of the vehicle, so long as the buyer is driving it across the border; the used vehicle is for personal use; and the used vehicle was the purchase on that specific trip to Canada.
Victoria Premium Automobiles’ sales professionals have worked with many Americans purchasing used Canadian vehicles. Experienced and knowledgeable, all the uncertainty and guesswork is removed from the process ensuring a simple, straight-forward transfer.
There are many great values and vehicle purchase opportunities north of the border. Give Victoria Premium Automobiles a call and explore your options.
More Canadian consumers are opting to lease when acquiring new and used cars.
Leasing fell to a low of seven per cent in 2009 but has since increased in popularity to the point where almost 20 percent of cars in Canada were leased in 2014. This is well below the 45 per cent peak in 2005 (a percentage greatly reduced when car manufacturers got out of leasing in 2008 during the global financial crisis and when credit markets seized) but leasing is an option more Canadian consumers are seeking out for new and used vehicles.
According to George Iny, president of the consumer group Automobile Protection Association (APA), leasing has the advantage of reducing monthly payments because consumers pay mainly for the time they have the car and the kilometres they put on it.
Speaking to The Canadian Press in June 2014, Iny went on to explain that leasing is attractive because there’s little maintenance while cars are under warranty and no worry about reselling at the end of the lease.
There are also other benefits, including:
• A monthly payment that is lower than purchasing a similar new vehicle.
• Low down payments.
• Taxes are calculated on the monthly installments instead of up front on the total purchase price.
Combined, many consumers find that they can afford a more expensive model if they choose to lease rather than buy.
If you are looking for the lowest possible monthly payments, or the best possible tax write-off, VPA LEASING will work with you to build the lease that fits your needs and budget.
VPA Leasing can help you source the vehicle you are looking for and arrange favourable leasing terms. Or, if you have found what you are looking for at another dealer – or even through a private seller - VPA LEASING can help you lease the vehicle.
VPA LEASING provides lease funding for new and used vehicles and equipment for individual contractors as well as small and large business owners.
Just because a used car handles OK during a test drive doesn't mean it's safe to buy.
There may be skeletons in that trunk.
A large-and-growing shadow sector exists in the used car marketplace populated by criminals adept at concealing structural damage on used cars. Through licensing, registration and mechanical and auto-body trickery and malfeasance, vehicles are being sold for a profit after been sloppily rebuilt after an accident.
In most states and provinces, it is required that major damage is registered against the vehicle’s title of ownership. When insurance companies write off a vehicle as a “total loss” after an accident or other event like a flood or hail storm, it is expected that the vehicle will be permanently marked as damaged goods. This keeps dangerous vehicles off the road and protects the buying public.
However, criminals have discovered loopholes and technology that can give write-offs new life and buyers and the travelling public nightmares.
Using photo editing software and digital scanners, criminals can quickly and easily print new, blemish-free titles. They are also registering damaged vehicles in different jurisdictions, diluting the vehicle history and record until the record of damage is a distant memory.
The process is called "title washing" and according to vehicle history provider CarFax, 800,000 cars on U.S. highways owe their continued use to criminals who have used these underhanded scams to make wrecked cars appear undamaged.
Some industry observers and insiders claim the problem is getting worse. According to Experian AutoCheck (which like CarFax sells vehicle history reports to consumers), 425,000 of the vehicles damaged in the first half of 2012 were later retitled as clean in another state.
So, how do you protect yourself from title laundering?
Deal with a reputable retailer and demand facts, records, histories and an objective and honest mechanical inspection.
In B.C., dealers and consumers are required to purchase an additional CarProof B.C. report that costs an additional $20.
That is because the Insurance Corporation of British Columbia (ICBC), the province's public auto insurer, charges CarProof extra for access to its data.
“We know that it offers the best data, and it's the most comprehensive report that's available,” CarProof's director of product management, Shawn Vording, said of CarProof's reports.
“If there are dealers that are choosing not to use our report, they're also choosing then not to have the most comprehensive report."
Victoria Premium Automobiles believes in full disclosure and providing customers the most comprehensive report possible. That is why Victoria Premium Automobiles uses CarProof's reports on all vehicles sold. Each VPA vehicle is meticulously inspected and must also pass our rigorous vetting standards.
Three-hundred-and-thirty-horsepower moving 3,100 pounds from 0 - 60 mph in less than five seconds.
That’s right: one horse for each 9.39 lbs of car.
Power from the Z4 M Coupe’s 3.2 litre inline is channeled through a tight, six-speed manual gearbox. Short gearshift and the precise control of the shift lever translate into a smooth, exhilarating power curve.
Initially, many buyers grown accustomed to the Z3 and Z4 roadster profile and soft-top, considered the coupe with the low-slung roofline a novelty: a hatchback roadster you say?
Perception has changed.
Wired magazine anointed the 2007 Z4 M Coupe the best-looking car in BMWs entire line. Not a small compliment from an insignificant pundit.
Wired also found this beast to be tamed (at least a little) by leather sport seats and with “traction control not [so] overbearing; you can still have some fun in the corners.”
This Z4 M Coupe is a rare find that has only 56,108 kilometers on the odometer, is thoroughly reconditioned, professionally detailed and backed with CarProof and Pre-Purchase inspection reports and a 60 day/2,000 km limited warranty.
Victoria Premium Automobiles is pleased to announce that it has expanded its inventory with the opening of a new used car showroom at 1859 Blanshard St. ,Victoria, BC, across the street from Save on Foods Memorial Centre.
Conveniently located at the corner of Blanshard St. and Caledonia Ave., the new lot and showroom is filling up with the best quality, professionally inspected, documented and verified used vehicles.
Our inventory includes a range of models, makes and years but all are inspected and certified by independent, industry-certified mechanics and documented with Car Proof and ICBC Reports.
This means every BMW, Porsche, Toyota, Ford, Mercedes-Benz and Honda we sell come with no surprises: just clean, well-maintained, well-documented vehicles.
Stop by, take a look and meet one of our vehicle professionals. Or give us a call ( 250-380-0581) to ask about our current and soon-to-arrive inventory and ask about any vehicle you may currently have on your wish list.
Victoria Premium Auto also has a Victoria used car showroom at 2555 Government St.
Victoria Premium Auto stands behind every pre-owned vehicle sold.
From the creamy biege interior to the flawless exterior, this '02 Carrera has been exceptionally well cared for, and is one impressive machine.
On the inside, the leather upholstery and well-designed features make it easy to personalize to your degree of comfort. The audio system, with four impressive speakers placed acoustically around the cabin, provides crisp, clear audio for your listening pleasure. The hard top/soft top options for the roof make this an excellent year round car, and the switch between rooves can be made very easily.
Under the hood, the 6-speed manual transmission is extremely smooth, with a broad powerband for quick accelerations and consistent power delivery. The sports-tuned suspension provides an incredibly comfortable ride, for commuting or touring, and makes any road an absolute delight. Designed with a superlow centre of gravity, the Carrera grips the road for tight turns to thrill and delight even the most experienced of drivers.
View our Carrera's listing, with a thorough specs overview and photoset, at http://www.victoriapremiumauto.com/inventory/porsche/2002-porsche-carrera
Enjoy the drive!
My favourite thing about this Porsche is how well-behaved it is - when you want it to be!
To begin with, the car is a beauty to behold. A bold forest-green exterior is brightened by a tanned leather interior, which makes the inside of this '09 coupe exceptionally bright and roomy. The dash controls are sleek and well-formatted, and you won't hear any complaints about the 72-watt audio system, which provides ample bass and is fully customizeable to whatever genre you might be tuning into on your satellite-enabled radio system.
If cars are your dig, this one is a gold mine! The flat six engine with direct-injection provides instant, smooth power delivery, and a wonderfully fast 0-100 of well under 5 seconds. The suspension rides a little rougher than one would expect for a Porsche, but the intent here is to provide the driver with the truest sensation of being connected to the track. Sitting close to the ground, the low profile and perfect weight balance enables unmatched agility and a wicked launch system to power you out of the turns and off the line.
For the more moderated driver, every day driving is elegant and regally tamed. The interior of the car is extremely comfortable and spacious, and the rumble from the engine provides a lovely note. Rush hour traffic is a breeze, as the low idle provides a smooth and slow pull forward without being jerky.
Reining 385 horses has never been so easy - not that you're going to want to.
I recently took this futuristic hatchback out for a spin to gauge its performance, and was left impressed by its sheer will to perform while maintaining excellent fuel economy and a high standard of comfort.
When I pulled out of the parking lot, I set the driving mode to Normal. Pickup was prompt and quiet – typical for a hybrid, which only engages the gas engine after a specified kph – and it was clear right off the first turn that this car is built to handle. Normal mode was perfect for regular city driving, but on our way through a busy downtown, Eco mode reduced power consumption and recharged the car’s battery via some clever regenerative braking. When I hit a faster road, Sport mode provided an excellent pull and a red, digital tachometer illuminated on the dash to give the C200h an impressive sporty feel.
The interior itself is beautiful. Plush black leather upholstery is complimented by a sleek display with ergonomic and easy-to-operate controls. A pop-up high definition screen has an excellent GPS interface, the reverse-angle cameras have crisp images so that you always know where you are when parallel parking.
This car is an excellent balance of fun and functional, and you’ll really enjoy the gas mileage!
Visit our listing at www.victoriapremiumauto.com/inventory/lexus/2011-lexus-ct200-hybrid-sport and enjoy your drive!
Beginning February 5th, 2013, we're offering prizes for the 250th & 500th likes on our page, and a Grand Prize draw once we hit the big 5-0-0-0!
- The 250th & 500th likes will receive a Diamond-Kote® Package for one of their lucky vehicles! Valued at more than $600, we'll make sure your vehicle shines and sparkles as perfectly as the day you bought it.
- The Grand Prize is a 3-night stay at the legendary Long Beach Lodge Resort in Tofino, BC.
Visit us at http://www.facebook.com/VictoriaPremiumAuto for details and to enter.
We are pleased to announce our social media expansion on both Facebook and Twitter.
Put simply, shopping for a pre-owned luxury vehicle should be an enjoyable experience!
Combining efforts through our website, our Facebook page, and our Twitter handle, we will be best able to keep you updated and connected with our automobile inventory.
Our Facebook page in particular will be updated regularly with information about, and photography of, our vehicles. On top of that, we want to keep you connected to the world of luxury automobiles. We will also regularly post headlining information about cars you love, straight from the source!
As always, feel free to contact us through our Facebook page - we are your automotive consultants of Vancouver Island.
To find us on Facebook or Twitter, simply copy and past the following links below into your browsers address bar:
Thank you for visiting Victoria Premium Automobiles' blog page!
If you live in the Greater Victoria area, love your car and love to drive, here is a great opportunity for a fun-filled day on the road to Tofino and a luxurious stay at Long Beach Lodge Resort.
Victoria Premium Auto and Long Beach Lodge Resort in Tofino are excited to announce the inaugural Rally 4 Memories, the Drive for Dementia. Rally 4 Memories is a poker run car rally from Victoria to Tofino to raise funds in support of the We Rage We Weep Alzheimer Foundation.
You will be taken on the scenic drive up Island culminating in a delicious lunch in the Parksville/Qualicum Beach area. The adventure will continue after lunch heading out on the road to the West Coast and Long Beach Lodge Resort in Tofino. There you will enjoy a buffet dinner prepared by the Lodge’s renowned chef before retiring to your beach front room for a relaxing evening of leisure.
Cost per car is $500. A tax receipt will be supplied.
Entry Fee & Details...
Your entry fee of $500 per car includes:
- lunch on April 21 mid-Island,
- one night's accommodation in a beautiful beach front room at Long Beach Lodge Resort—additional night stays are available (see info below)
- buffet dinner at Long Beach Lodge Resort, and a
- breakfast buffet at Long Beach Lodge Resort on the morning of April 22.
Prizes will be awarded for the top three poker hands.
Payment (cheque, cash or visa) must be delivered to Victoria Premium Automobiles by March 31, 2012. A tax receipt will be sent to all participants. Phone: 250-380-0581.
Participants are to meet at 9:30am on Saturday April 21, 2012 at Victoria Premium Automobiles located at 2555 Government Street, Victoria. Teams will receive instructions for the day at this time.
Extend your Stay at Long Beach Lodge...
Why not spend a night or two more in Tofino and experience all that the Resort and the area have to offer? Additional night stays are available at a special rate of $259 per night (double occupancy), which includes a continental buffet breakfast in the Great Room each morning. Please book these additional nights directly with Long Beach Lodge and indicate that you are participating in the Rally 4 Memories Car Rally. Call reservations at 1-877-844-7873.
We Rage We Weep Alzheimer Foundation...
The We Rage We Weep Alzheimer Foundation is a Canadian Registered Charity founded in May 2006. The Foundation’s mission is to ensure no caregiver feels alone, isolated or without adequate financial resources by supplying grant funding to caregivers who experience significant economic hardship in their care giving role of a loved one with Alzheimer Disease or related dementia, often a life partner or parent.
Funds raised from this car rally will go to enhance and expand:
- Project Lifesaver of Greater Victoria, a technology based wander location and recovery program for seniors with dementia dedicated to bringing loved ones home!
- Arts & Alzheimer’s, an art and music participation program for seniors with dementia living at home with their caregivers stimulating minds… supporting caregivers.
Victoria Premium Automobiles is actively looking for premium pre-owned vehicles to PURCHASE, typically vehicles still under manufacturer warranty. Please contact Donald Moss, 250-380-0581, for an appointment and appraisal of your vehicle for sale.
Always a pleasure to see Mr. Moss ( he definitely belongs in GQ Magazine ), likewise the evening was a nice opportunity to say hello to a well known gentleman namely Mr. T. Hackett. In summary - from past experience(s)... I feel confident in saying that Mr. Moss and company will be able to assist perspective buyers in finding an automobile of choice. Never a dull moment when engaging a conversation with Mr. Moss ( extremely helpful at all times ). Best wishes with the new dealership . Sincerely ... M. Zuick
Thank you for the invitation to the open house. I enjoyed attending and meeting with a few of my old acquaintances at Don's new store.
The dealership is a sparkling addition to the industry and I wish the dealership all the very best for a successful future.
Motor Vehicle Sales Authority of BC (VSA)
Our grand opening was a huge success, thank you to all who attended. It was truly a first class evening. Our boutique style showroom quickly swelled to full capacity as professionals from all industries of Victoria gathered to experience first hand the unique Victoria Premium hospitality. With food and wine in hand people socialized with staff and other guests around a show stopping 2010 Lotus Evora, the current focal point of our brand new show room. There will be pictures and articles of the event featured in the Times Colonist, Monday Magazine, and Snap Magazine. We would once again like to thank everyone who attended as well as everyone who contributed to make the event possible, we look forward to doing business with all of you in the future.
Principal Donald Moss was interviewed by the Times Colonist about the launch of his new car dealership, Victoria Premium Auto. Located at a prime location on Douglas Street, Victoria Premium Auto will feature low mileage, high-end luxury automobiles.
We would like to give a special thanks for the contruction contractors that worked on our new building and made it a successfull development of time and perfection.
Houston Homes , Patriot Electric , B&E Glass, The Painter Guys , Tim Richardson Design , Pete's Tent and Awning , Canadian Tire , Tedford Doors , PR Wilson Drywall , Island Floors Center , Termar Framers, Slegg Lumber , Graphic FX , City of Victoria , Gordon Insulation , Madison Paving , R&L Concrete Coring , PR Wilson Interiors , Island Blueprint , Hobson Woodworks , Sullivan Cleaning , Legacy Line Painting ,Victoria Landscape.
And Please forgive us if we have missed any particpant .
Donald Moss , Tim Hackett