Why name the company AutoNomix?
We named the company AutoNomix for two reasons:
- AutoNomix is a play on the words on ‘Auto’ and ‘Economics.’ We chose this name because it is central to our goal of giving vehicle owners the opportunity to share in the full value of their investment by earning the higher retail value for their vehicle, rather than the lower trade value a dealer gives. It is also our challenge to the status quo which assumes that in order for a dealership to make money, their customers must lose theirs. We call this Auto Economics 101.
- The other reason is to assert our business philosophy ‘Unity of Opposites’ which is the rejection of one-sided deals, so common in the industry today, in favour of the win-win-win deals.
What does it mean to be a Platform Dealership?
In this context the term “Platform” refers to a business that aims to become a marketplace that will certify, facilitate, and safeguard the selling and buying of vehicles between members of the general public. As a registered dealer under the Motor Vehicle Dealers Act (MVDA), we are able to leverage all the advantages and resources that a traditional dealership uses to minimize cost in order to maximize profits to help vehicle owners earn the higher retail value, rather than the lower wholesale or private sale value for their vehicle.
How do I sell my car using AutoNomix?
Once you’ve contacted us at >www.autonomixinc.ca we will reach out to you to:
- We start a consultation to ascertain your needs
- Review & sign our Terms of Understanding
- Arrange for your vehicle to undergo a comprehensive inspection by a certified mechanic
- Determine the best price for your vehicle through our appraiser process, using real-time market information and any substantial upgrades in the vehicle
- Take professional photographs and video of your vehicle
- List and advertise your vehicle through all the major channels
Once the above is done, you can relax while AutoNomix handles all customer interactions including but not limited to:
- Qualifying prospective buyers
- Responding to email/phone inquiries
- Booking test drives
- Negotiating on your behalf
- Arranging finance and warranties
- Handling licensing
- Delivering the vehicle
How do I buy a car using AutoNomix?
- Once you found the vehicle of your choice contact us and it will be our pleasure to go over the vehicle in detail make a recommendation based on the ownership experience of our selling partners.
- We will provide you with a comprehensive vehicle history report, i.e CarFax, service & repair history, commute history, and gas expense history. We strive to provide you with the most reliable vehicle information to enable you to make an informed buying decision.
- Book a home test drive – We will bring the vehicle to you to inspect and drive.
- Place a hold on the vehicle with a deposit
- Arrange purchase option – finance or cash.
- Arrange warranties or accessories, if applicable
- Receive your vehicle delivered to you at home
As your satisfaction is our highest priority, we offer a 7-day replacement guarantee.
What is Negative Equity?
Negative equity is still one of the most poorly understood terms in the industry by vehicle owners and it is the single biggest factor affecting affordability for most customers buying a newer vehicle when trading in their vehicle. Negative equity occurs when what you are offered for your vehicle is lower than what you still owe on your vehicle. That negative equity is then added to the newer vehicle’s loan increasing your monthly payment, the total interest you pay and the total loan amount.
Is it possible to eliminate or reduce negative equity?
Yes, it is definitely possible to either reduce and/or eliminate your negative equity. By using AutoNomix to help you list and sell your vehicle at retail value rather than wholesale value offered by dealers or private sale value by selling privately. In addition, you will be eligible for tax saving which is a government incentive program available to you when you sell and buy your vehicle at the same dealership. The program allows us to use the tax earned on your higher retail trade price earn from selling through AutoNomix to help reduce the total amount of tax to be paid on the newer vehicle.
What is the tax savings program and how can it benefit me?
Tax savings is a government incentive program available to you when you sell and buy your vehicle from the same dealer. This program is designed to compensate you for the lower wholesale value a dealer will offer you for your vehicle which can be $3k to $5k lower than the retail value. For example, if your vehicle retail value is $30k and you still owed $30k and a dealer offered you a wholesale value of $25k plus tax savings which works out to a total trade value of $28,250 ($25k * 1.13 = $3,250). This would be great if your total trade value which includes your tax saving was going to be deducted from what you still owed ($30k). Sadly, this is not the case. The amount that will be used to deduct from what is still owed is the amount before your tax saving is added ($30k -$25k = $5k). Which means you will still owe $5k and not $1,750 ($30k – $28,250). It is easy to see why so many customers feel mislead and are confused by this process.
This is not to say that tax saving is not a huge benefit to anyone selling a vehicle. However, to truly appreciate this program you must first understand what tax savings does and does not do. Tax savings can only reduce your cost on the newer vehicle being purchasing and not on the loan amount on the older vehicle being sold. For example, if you received the wholesale value of $25k for your trade, your total tax saving would be $3,250, giving you a total trade value of $28,250. Now, if the newer vehicle’s HST is $5,200 on a $40k selling price you would only pay $1,950 ($5,200 – $3,250) in taxes on the newer vehicle. The difference with AutoNomix is that you will now have the ability to earn the additional $5K on the price of your trade in addition to saving another $3,900 ($30k*1.13) in taxes on your newer vehicle which is an incredible way to maximize your vehicle’s value helping you to stay in positive equity or eliminate any potential negative equity!
Are AutoNomix cars certified?
Absolutely! Every vehicle must pass a 90-point inspection before delivery so that you can be 100% confident in the quality and safety of your vehicle. This inspection includes everything from tread depth of tires to thickness of brake pads to exterior paint quality to Bluetooth compatibility. Because your long-term satisfaction is our highest priority, we are boldly offering a 7-day replacement guarantee on all vehicles to help ensure you made the right choice.
Does AutoNomix have a return policy?
Absolutely. Our 7-day replacement guarantee begins the day you receive your vehicle regardless of time of day. Within that time, you can drive it for up to 1000 km or exchange it for any reason. To exchange your vehicle, you must let us know prior to 5 p.m. EST on the 7th calendar day after receiving your vehicle. However, we cannot accept a return if the car has been:
- in an accident or damaged
- altered from the condition it was delivered in
- put on a security as a loan, also known as encumbrance
Additionally, if you drive the vehicle over 1000km, you will be charged $1.50 for each additional Kilometer.
How do I test drive the car I like?
Once you have selected the vehicle of your choice and want to book comprehensive test drive you can test drive the car at the most convenient place and time for you. If that means at your home or our location that is fine with us. Test drives are by appointment only.
- Give us a call or send us an email stating the possible days and times.
- We will arrange everything.
- We can bring the vehicle to your home, or you can come to our location.
Though we are confident in our inspection process and can confidently say that all of our vehicles will be safe to drive, we encourage all of our buying partners to take the vehicle of their choice out for a thorough and comprehensive test drive. This is typically sufficient for the majority of buyers. That said, there may be instances where a test drive is not possible for you. In those cases, you can rest easy knowing that you have 7 days to test the car because of our 7-day replacement guarantee on all our vehicles.
AutoNomix is located in Toronto, Ontario and also serves Scarborough, North York, Etobicoke, Mississauga, Oshawa, Brampton, Barrie, Newmarket, Ajax and surrounding areas.
446 Simcoe St S #4,
Hours of Operation
|Monday||By Appointment Only|
|Tuesday||By Appointment Only|
|Wednesday||By Appointment Only|
|Thursday||By Appointment Only|
|Friday||By Appointment Only|
|Saturday||By Appointment Only|
|Sunday||By Appointment Only|