The Loans Canada team sits down with Gary Schwartz of the Canadian Lenders Association to talk about open banking.
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While many Canadian drivers appreciate having a dependable car at their disposal, it can take a lot of time and effort to find one that ticks all the right boxes. Some vehicles are more fuel-efficient, others have easier mechanical issues to deal with and vice versa. Plus there’s the initial price, down payment, and financing or leasing to consider.
Choosing the right car can often seem like a difficult task, but it doesn’t need to be. With a service like Carmoji, you can find a great deal on your next car, truck, van or SUV.
Who is Carmoji?
Essentially, Carmoji is an online brokerage where you can compare the costs of different consumer vehicles and find dealership financing or leasing in your area. With their price and feature comparison calculator, you can look for a car that suits your lifestyle, then use their GPS system to locate any nearby dealers that have one for sale.
What Makes Carmoji Different From Other Vehicle Brokerages?
Although other vehicle-based brokerages exist in Canada, there are a few key things that make Carmoji stand out among their competitors, such as:
The “Features I Care About” Option – One benefit that the Carmoji website offers is the ability to select various features that you’re looking for in a car, like luxury, comfort or family-friendly options. Based on those specifications, they can then offer you some suggestions and help you narrow down your search.
Simpler Vehicle Comparison – Unlike other vehicle broker websites, Carmoji lets you compare a maximum of 3 vehicles at once, which should also make your research less complicated and time-consuming. That said, your comparison and features table will expand once you start adding vehicles to it.
Some of the sections and subsections that you could see on your Carmoji comparisons and features table include but aren’t limited to:
- Sticker Price/MSRP (Manufacturer’s Suggested Retail Price)
- Energuide Estimate (City)
- Energuide Estimate (Highway)
- Basic Warranty (Years)
- Basic Miles/Kilometers
- Space With All Seats Down
- Engine & Transmission Type
- Interior & Exterior Technology
Types of Vehicles Offered at Carmoji
Another feature that makes Carmoji stand out is its brokerage network, which you can use to connect with hundreds of dealers in your area and even book a test drive in the vehicle of your choosing. Here are a few of the popular car brands you can compare:
If you’re not sure what brand you want, you can also browse vehicles according to your lifestyle choices. In fact, you’ll find these subcategories on the Carmoji homepage:
- City Friendly – According to Carmoji, a city-friendly vehicle is normally one with good fuel economy and less bulky external features. Essentially, a model that has a bit of extra pep but is ultimately better for sitting in traffic, close-quarters driving, and tight parking, like a hybrid, hatchback, or smaller sedan.
- Adventure Friendly – While fuel economy is important here too, adventure friendly cars usually need to have bigger fuel tanks, more cargo space or towing capacity, and stronger engineering. For instance, SUVs, pickup trucks, and other larger vehicles can be better for camping, road trips, and other outdoor activities.
- Family Friendly – If you are planning to or you already have a family, a vehicle with extra seating and ergonomic features, such as a minivan or large sedan might be a safer, more reliable choice. You can even find a family-friendly model with a backup camera, blind-spot monitor, and entertainment system for your kids.
- First-Car Friendly – If your children are learning to drive or you’re buying your first car, chances are you’ll want something that’s affordable but still holds up under all kinds of road and weather conditions. While almost any vehicle can work as your first, dependability and gas mileage are likely the main factors here.
- Luxury Friendly – Despite their generally higher prices, luxury vehicles are always in demand, particularly in the business world. After all, not only can a nice sports model or town car provide top of line comfort and style, you can use it to impress clients or even start your own private transportation company.
How Does Carmoji Work?
As mentioned, the Carmoji webpage features a comparison table where you can calculate how much your vehicle could cost overall, then weigh it against two other makes and/or models that you’ve been eyeing. Generally speaking, the easiest way to pinpoint the right vehicle is to go through the process step by step.
With each section you complete, you’ll get to see more information about any vehicles you’ve selected. Here are the 4 basic steps you’ll encounter during the Carmoji process:
- Search – The first thing you’ll have to do is shop around for different vehicles, so you can compare their costs and specifications, then figure out which one(s) you prefer. This could take some time but the more research you do, the better.
- Refine – Carmoji can help you research and locate more than 10 of the most popular vehicle brands across Canada. During your search, don’t forget that you can also input the various features that you would want your car to have.
- Choose – After you’ve narrowed down your results, it’s time to choose the vehicle(s) that you want to test drive and potentially finance or lease. Remember to pick a make/model that’s affordable, dependable and truly suits your lifestyle.
- Connect – Once you enter your preferred vehicle(s) into the system, Carmoji will show you any nearby auto dealers with the right stock, as well as their contact details. Afterward, you just have to call or message them to arrange a test drive.
Benefits of Using a Vehicle Comparison Website Like Carmoji
If you know enough about vehicles or the various financing options available in Canada, you may not need to consult a third-party broker to find your next car. That said, there are certainly a few benefits to using a vehicle comparison website like Carmoji, such as:
- Less Time and Effort Wasted – Let’s face it, browsing for vehicles online or in person can be a pain, especially if you’re only coming up with unreliable makes/models or seemingly untrustworthy sellers. At the very least, Carmoji can easily help you find newer vehicles and licensed dealerships near you.
- Search Options to Meet Your Needs – As mentioned, one of the best things about the Carmoji network is the range of vehicles and features you can select when doing cost comparisons. So, whether you live in the city, the suburbs or out in the country, Carmoji can help you choose the best car for your lifestyle.
- It’s Easier to Save Money – You can also refine your Carmoji search by entering your desired price limit into the comparison system. This way, you won’t end up with something you can’t comfortably afford. You can even state that you prefer a vehicle with good fuel economy to save on gas or newer parts to save on repairs.
- Low Fees – Currently, the Carmoji website and comparison calculator are free to use. You don’t have to create an account or buy a membership to search for vehicles and dealerships near you. However, you may be charged a referral fee if you buy something from one of the third party businesses they work with.
While using a vehicle comparison system like Carmoji may not always be essential, it’s definitely an easier and faster way to find a vehicle that actually suits your all needs. If you’re curious about the vehicle available in your area or would just like to narrow down your search as much as possible, Carmoji is a great option.
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