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In Ontario, run a PPSA search on the VIN before money moves: a lien follows the vehicle, not the seller. A Safety Standard Certificate is required to transfer registration on most used sales - the seller's responsibility unless the vehicle is sold as-is, and an as-is vehicle cannot be plated until it passes. Private sellers must provide the Used Vehicle Information Package, which shows registration history, lien status and the wholesale value used to calculate tax - tax is charged on the greater of the sale price or that value. All-in price advertising is mandatory for dealers, so a dealer adding fees after an advertised price is in breach. The provincial rules are on the Ontario page.
Pre-approval before the dealership changes the negotiation from a payment to a price. Dealer financing can carry a rate marked up above what the lender approved, so an approval in hand is a benchmark, not a formality. Term length is the largest cost variable: long terms lower the payment, raise the total, and extend the period where the loan exceeds the vehicle's value.
13% either way. A dealership charges 13% HST on the sale price; a private purchase is taxed at 13% RST on the greater of what you paid or the vehicle's wholesale value, assessed when you register. A low negotiated price on a private sale does not reduce the tax.
Yes. Most lenders serving Ontario finance used vehicles for borrowers with fair or poor credit, and several specialise in it. Expect a higher rate and possibly a larger down payment; the vehicle itself serves as security, which is why approval is often easier than for an unsecured loan of the same size.
