{"id":57549,"date":"2022-10-18T17:32:00","date_gmt":"2022-10-18T17:32:00","guid":{"rendered":""},"modified":"2024-02-26T14:27:33","modified_gmt":"2024-02-26T19:27:33","slug":"5-things-to-know-before-applying-for-auto-financing","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/5-things-to-know-before-applying-for-auto-financing\/","title":{"rendered":"5 Things to Know Before Applying for Auto Financing"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/automobile\/\">\n\t\t\t\t\t\t\t<span>Automobile<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">5 Things to Know Before Applying for Auto Financing<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Jacob Henriksen-Willis<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"370\" height=\"150\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/OLB-2022-10-18T122203.109.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Toy Car\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/OLB-2022-10-18T122203.109.jpg 370w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/OLB-2022-10-18T122203.109.jpg?resize=300,122 300w\" sizes=\"auto, (max-width: 370px) 100vw, 370px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=5 Things to Know Before Applying for Auto Financing &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/5-things-to-know-before-applying-for-auto-financing\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/5-things-to-know-before-applying-for-auto-financing\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published October 18, 2022 \u2022 4 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>Buying a car is an exciting experience, but for first-time buyers, applying for auto financing may feel complicated \u2014 or confusing.<\/p>\n\n\n\n<p>Here&#8217;s an easy guide to understanding auto financing and help you get the best deal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Car loans: the basics<\/h2>\n\n\n\n<p>With car loans, you borrow a set amount of money from your banking institution or car dealership at a pre-agreed interest rate. Then you are given time to pay it back \u2014 this is your &#8220;<strong>term<\/strong>.&#8221; You pay back a pre-arranged portion of your loan weekly, bi-weekly or monthly in your term. Throughout the term, you also agree to pay interest on the principal amount of the loan.<\/p>\n\n\n\n<p>It&#8217;s a relatively simple process on paper, but there are a couple of important things to do to get started:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Shop around and compare rates<\/h3>\n\n\n\n<p>The terms and interest rates of car loans can vary between different dealerships. Doing some extra research can parse out the best deal in your vicinity. Here&#8217;s what to look for:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p class=\"is-style-default default\"><strong>Loan amount&nbsp;<\/strong>\u2014 Most lenders have a minimum and a maximum amount for the loan they offer.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Interest rate<\/strong>&nbsp;\u2014 Make sure you shop around for the best and lowest rate possible, as this can add to the overall borrowing cost.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p><strong>Loan term&nbsp;<\/strong>\u2014 Loan terms could typically vary between 36 to 96 months. Your monthly (or weekly) payment and the overall sum of the loan you pay back depend on the loan term. Low weekly or monthly payments stretched over time may cost you more in the long run. Consider the&nbsp; total loan value you\u2019ll pay back when deciding on a loan term.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2. Check your credit report<\/h3>\n\n\n\n<p>Your credit report is a statement of your current credit situation, which includes the amount of debt you have and the length of your credit history. That information will determine your credit score. Your credit score is a three-digit number that ranges from 300 to 850. The higher the score, the more you will likely get approved for an auto loan.<\/p>\n\n\n\n<p>RBC Online Banking clients can <a href=\"https:\/\/www.rbcroyalbank.com\/dms\/olb\/credit-score\/index.html\">check their credit rating<\/a> without impacting their credit scores.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Pre-qualify for an auto loan<\/h3>\n\n\n\n<p>It&#8217;s best to get an estimate of what you can afford before you start shopping for a vehicle. Pre-qualification is generally a quick, simple process. You provide your financial information to the lender, including income and current debt obligations. Based on this information, the lender will provide a tentative assessment of how much they&#8217;d be willing to lend you towards your vehicle purchase.<\/p>\n\n\n\n<p>Pre-qualification <strong>does not <\/strong>mean guaranteed approval for your loan once you formally submit your application. But it may help plan your budget and reduce the chance of unwanted surprises or disappointment.<\/p>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>RBC\u2019s&nbsp;<a href=\"https:\/\/apps.royalbank.com\/apps\/my-auto-affordability#!\/main\/welcome\" target=\"_blank\" rel=\"noreferrer noopener\">My Auto Affordability<\/a>&nbsp;tool makes pre-qualification quick and easy.<\/p>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">4. Understand the terms<\/h3>\n\n\n\n<p>Read the contract. Once you&#8217;re ready to sign an auto loan, make sure you know what you agree to. The lender may add requirements such as requesting certain insurance policies or requiring you to pay a penalty for paying the loan off early.<\/p>\n\n\n\n<p>Be on the lookout for fraudulent auto loan contracts as well! If it looks too good to be true, there&#8217;s a good chance it is. Sometimes scammers will claim they have &#8220;guaranteed approval&#8221; for auto loans without a credit check, or they will offer a great rate and later tell the borrower they no longer qualify for the rate and charge them higher fees. So its very important to read the contract and go with a loan provider you trust.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. Shop around for auto insurance<\/h3>\n\n\n\n<p>Get insurance quotes for the vehicles you are thinking about leasing or buying before you close the deal. The year, make and model of a vehicle may affect the cost of your insurance. Some cars have a higher likelihood of being stolen or being in more accidents, so insurance companies charge more to insure those vehicles. By checking on rates in advance, you might save a significant amount in insurance premiums over the life of your vehicle. Be sure to check your policy every year to ensure that all the information is accurate and up to date. Ask questions in case there are discounts your insurance company offers that you qualify for.<\/p>\n\n\n\n<section class=\"wp-block-rbc-section-block section-cool-white pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block inner-section-white section-inner  pad-b-hlf\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<section class=\"wp-block-rbc-section-block  pos-rel pad-t-0 pad-b-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner border pad-b-0 pad-t-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"683\" width=\"1024\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg?w=1024\" alt=\"Woman looking at her laptop screen, pondering pressing questions\" class=\"wp-image-78985\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg 6321w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h4 class=\"wp-block-heading mar-l-hlf mar-t-qtr\">Looking to buy a new car?<\/h4>\n\n\n\n<p class=\"mar-l-hlf\"><a href=\"https:\/\/apps.royalbank.com\/apps\/my-auto-affordability?_gl=1*1q274ie*_gcl_au*MTMxMzEzNTI4Mi4xNzAyNDk0MTc5*_ga*NDg4NjUxMjQ4LjE3MDI0OTQxNzk.*_ga_89NPCTDXQR*MTcwMzY4Nzc0Mi4xMS4xLjE3MDM2OTUxNTQuMzcuMC4w&amp;_ga=2.28598268.1398491740.1703687744-488651248.1702494179#!\/main\/welcome\" target=\"_blank\" rel=\"noreferrer noopener\">Find out<\/a>&nbsp;how much you can afford before visiting a dealership.&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/car-loans\/\">Check out<\/a>&nbsp;RBC\u2019s Car Loan Payment Calculator and options to finance your new vehicle.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<p class=\"has-light-grey-background-color has-background\">Read next: <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/important-questions-to-ask-before-financing-a-car\/\" target=\"_blank\" data-dig-id=\"LP-58122-578cbe24\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Important Questions to Ask Before Financing a Car\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Important Questions to Ask Before Financing a Car<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-7332e498-f6a4-441c-bd7c-335639cceaf2\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=5 Things to Know Before Applying for Auto Financing &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/5-things-to-know-before-applying-for-auto-financing\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/5-things-to-know-before-applying-for-auto-financing\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-0c217924-e596-4df6-9290-1d5a8859aa34\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/automobile\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Automobile<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/banking-digital-banking\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Banking\/ Digital banking<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div 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href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/\">\n\t\t\t\t\t\tFinancing Your Car\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/car-buyers-checklist\/\" class=\"card-title h4 mar-t-0\">8 Important Questions to Ask When Buying a Car<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/iStock-1210355637.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"As his wife stands next to him, a man crouches beside a white car at a dealership, inspecting the front of the car while speaking to a dealer.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/iStock-1210355637.jpg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/iStock-1210355637.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/iStock-1210355637.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/iStock-1210355637.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/iStock-1210355637.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/iStock-1210355637.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/\">\n\t\t\t\t\t\tFinancing Your Car\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/car-buying-guide\/\" class=\"card-title h4 mar-t-0\">Buying a Car: 7 Important Things to Consider<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Happy multiracial couple receiving keys of their new car from saleswoman in showroom.\u00a0\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/01\/Image-for-AF-article_-Buying-a-Car-in-a-High-Cost-Environment.jpg_draft_1.jpeg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/\">\n\t\t\t\t\t\tFinancing Your Car\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/buying-a-car-in-a-high-cost-environment\/\" class=\"card-title h4 mar-t-0\">Buying a Car in a High Cost Environment<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-7332e498-f6a4-441c-bd7c-335639cceaf2 {\n\t\theight: 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You&#8217;re not alone. Let&#8217;s simplify things.<\/p>\n","protected":false},"author":10,"featured_media":53897,"parent":57289,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[242,62],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[278],"rbc_difficulty_level":[33],"rbc_mmm_category":[307,342,303],"class_list":["post-57549","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-automobile","tag-banking-digital-banking","rbc_content_type-article","rbc_lob_group-auto-finance","rbc_difficulty_level-beginner","rbc_mmm_category-buying-a-vehicle","rbc_mmm_category-financing-your-car","rbc_mmm_category-goals-aspirations"],"acf":{"contently_publication_id":"332322","custom_author":"Jacob Henriksen-Willis","rbc_video_header":"","rbc_media_duration":"","rbc_video_keywords":"","rbc_video_description":"","rbc_video_upload_date":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Do car loans sound confusing? 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