It has been estimated that around 23% of Canadians have average or below-average credit. Around 2% of Canadians have “bad credit”, defined as a score below 520. Bad credit is a fact of life for many Canadians – and it can cause quite a few problems for you. Canadians with bad credit often struggle to…
A car repossession is a horrible thing – and we don’t want anybody to go through it. But it happens. Sometimes, Canadians buy cars that they can’t afford, or circumstances are such that they simply can’t make their car payments. When this happens, loan companies and auto dealers will repossess your vehicle – and if…
There is no feeling that’s worse than being in financial trouble – and in Canada, this is all too common. Around 20% of Canadians have sub-par credit, and consumer debt burdens have continued to rise throughout the last decade. So if you are having financial in Canada and have purchased a new or used vehicle,…
According to the Canadian Federation of Students, the average Canadian student has debts that exceed $27,000. Most are coming out of school and needing the essentials, like a car, to live on their own. If you are a recent graduate carrying a substantial amount of student loan debt and wondering if you can still finance…
Most young people are intimidated by the prospects of financing a used car. But even if you don’t think you have the resources to pay for the car of your dreams, you probably do. Purchasing a fabulous used car does come at a cost, but you don’t have to sacrifice that much. There are likely…
There is almost nothing in life that can be as exciting as buying your first used car. Being able to choose the car of your dreams is a very emotionally satisfying thing to do — but not having the funds to afford it isn’t very powerful at all. Before you hit Ride Time to check…
If you are in the market for a used car but don’t have much in your savings account to budget with, you might be considering financing the cost, either through a used car dealership financing program or from an independent lender. Many young people think that since they don’t have any debt, getting a loan…
Your financial situation is similar to your grade point average in high school. Once you get an F, it can hurt you forever, and working your way back to a decent GPA can be difficult. The best way to keep your finances healthy from the start is by not making the major mistakes that can…
Credit insurance can often feel like an upsell that sneaks up on you right at the time you’re ready to sign an auto loan. “What is it?” and “Do I really need it?” are the two most common questions, so we’ll answer both for you right here. Credit Insurance, aka Credit Protection Credit insurance is…
Not even one year into his presidency, President Donald Trump is already having a direct impact on the Canadian auto industry. His words and actions are sure to be felt in both new and used car markets, now and in the future. Let’s look at some of the ways he’s directly and indirectly causing change.…
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