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Deals of the Week: How to get a new car for $99 per month

2015 Nissan Micra

Nissan

For $99 you can buy:

  • An iPhone 5 before the new iPhone 6 arrives;
  • A suite retreat at Monastery Spa and Suites in Saint John’s, Newfoundland;
  • A Canadian-made mattress from Andy’s Factory Direct Mattresses;
  • Or a new car. And not just one particular new car, but any one of several.

Yes, the $99 car is here. That's $99 a month on a lease, of course.

Fancy a new Hyundai Accent? Forget about the sticker on a $13,899 five-door Accent L with a manual transmission. Instead, grab the 1.99 per cent lease rate and the $1,500 factory incentive, then put down $3,700 and your monthly payment drops to $99. Compare that to a $331 finance payment using Hyundai Canada's $1,500 sales sweetener and 0.99 financing for 48 months.

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The truth is, all four of the $99 cars profiled in Deals of the Week require some sort of down payment, notes Unhaggle.com, which helped crunch the numbers here. But once you've put down some money up front, you'll be driving away in a new car with a factory warranty for about the price of dinner for two at a so-so restaurant. That's the power of low-interest rates – rates which are driving new vehicle sales in Canada to record highs.

Now if not the Accent, what about the all-new Nissan Micra, one nicely equipped, not stripped? It's yours for $98 a month with $4,250 down using a 2.49 per cent lease rate for 48 months.

The outgoing version of the Honda Fit, the 2014 version to be replaced later this year with a reinvented 2015, is on offer for a $99 monthly lease payment using a 0.99 per cent rate, a $1,000 factory incentive and an up-front payment of $4,505 on a $14,635 Fit DX with manual gearbox.

Finally, the three-door version of Toyota's Yaris CE with manual transmission ($14,255 base). With $3,550 down, a $1,700 Toyota Canada incentive, and a 0.90 lease rate for 48 months, your monthly payment comes to $99.

So, a smartphone, a spa retreat, a mattress or a new car? For $99 you can have any one of them.

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Deals of the Week consulted with unhaggle.com, Car Help Canada, carcostcanada.com, and other sources on these offers. As usual, pricing information here is subject to change and dealer discounts vary, so consult your dealer for the final details, including expiry dates for all offers.

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2014 Hyundai Accent Hyundai Hyundai  

2014 Hyundai Accent 5 door L manual hatchback

  • MSRP: $13,899
  • Freight, dealer prep, air conditioning tax: $1,730
  • Dealer discount (estimated): $349
  • Factory discount: $2,250 (manufacturer incentive)
  • Taxable subtotal: $13,030
  • Total price with 13% HST: $14,723.90
  • A $1,500 manufacturer incentive is available with 0.99% financing for 48, 60 or 84 months. A $1,500 incentive is available with a 1.99% lease rate for 36 or 48 months.

2015 Nissan Micra Nissan Nissan  

2015 Nissan Micra 4 door hatchback Auto S

  • MSRP: $13,298
  • Freight, dealer prep, fees and air conditioning tax: $1,535
  • Dealer discount (estimated): $216
  • Taxable subtotal: $14,617
  • Total price with 13% HST: $16,517.21
  • A 0.90% finance rate is available for 48 months, or a 2.49% lease rate for 48 months.

2014 Honda Fit Sport Honda Honda  

2014 Honda Fit DX Manual

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  • MSRP: $14,635
  • Freight, dealer prep, AC tax: $1,630
  • Dealer discount (estimated): $332
  • Factory discount: $1,000 (manufacturer incentive)
  • Taxable subtotal: $14,933
  • Total price with 13% HST: $16,874.29
  • The manufacturer incentive is available with 0.99% financing for 48 or 60, or a 0.99% lease rate for 48 or 60 months.

2014 Toyota Yaris Toyota Toyota  

2014 Toyota Yaris 3 door HB Man CE

  • MSRP: $14,255
  • Freight, PDI, AC tax: $1,630
  • Dealer discount (estimated): $329
  • Factory discount: $1,000 (manufacturer incentive)
  • Taxable subtotal: $14,556
  • Total price with 13% HST: $16,448.28
  • A $1,000 factory incentive is available with 0.90% financing for 48 or 60 months, or $1,700 factory incentive is available with a lease rate of 0.90% for 48 or 60 months months.

Pricing information source: unhaggle.com and carcostcanada.com. Calculations based on Ontario customers. Please note that while the information above is accurate at the time of publication, incentives are given at the discretion of individual dealers, and may be changed or discontinued at any time. Where noted, "dealer discounts" are negotiated with the customer on a case-by-case basis. Unhaggle Savings are actual discounts received by Unhaggle customers.

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About the Author
Senior writer, Globe Drive

In 25 years of covering the auto industry, Jeremy Cato has won more than two-dozen awards, including three times being named automotive journalist of the year. Jeremy was born in Montreal and grew up in the San Francisco Bay Area. More

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