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INFOGRAPHIC: The Top Mortgage Moments of 2015 + MORE Dec 25th
Who says monetary policy has to be boring? It’s been a turbulent year – for borrowers, lenders and policy makers. It’s no wonder Bank of Canada governor Stephen Poloz has been recognized as Canada’s 2015 Business Newsmaker of the Year by The Canadian Press.
We’ve highli.... More »
Why Didn't ObamaCare Work? Dec 25th
More evidence that costly government insurance hasn’t made us healthier..... More »
Compare auto insurance quotes for Toronto Dec 18th
Congratulations! You’ve shopped around and found the car or truck you love. But you’ll need insurance before you drive it off the lot—it’s required in Canada. And when it comes to getting a great insurance rate, it pays to comparison shop, as it does with any major purchase.
Want to.... More »
The Benefits of Donating a Life Insurance Policy to Charity + MORE May 7th
Life insurance policies cannot only be left to an individual beneficiary, but can be donated to charity. Along with the satisfaction of knowing that you are leaving money to a worthy cause, donating your policy will also have certain tax benefits.
Donating your life insurance policy can be accompli.... More »
Lawyers seek ruling on whether judges can dictate religious attire in court Mar 27th
MONTREAL – Lawyers for a woman who was denied a court appearance because of her hijab are seeking a legal opinion on the rights of Quebecers who want access to justice while wearing religious attire.
They filed a motion on Friday with the Quebec Superior Court on behalf of Rania El-Alloul, who.... More »
Insurers won’t demand genetic tests
– thestar.com
Insurance companies won’t tell prospective customers they need genetic testing — but will expect them to disclose tests they’ve already had.Balance sheets: Canadian vs. U.S. households
– moneysense.ca
The latest Allianz Global Wealth Report has some of the most interesting comparisons of Canadian vs. American balance sheets we’ve seen in a while.Overall, the insurance and asset management firm ranked Canadians the 8th richest in the world in terms of net per capital financial assets, behind Switzerland, the U.S., Belgium, Netherlands, Japan, Sweden and Taiwan. We’d be higher on that list if it weren’t for our debt levels, Allianz suggests.
“Although financial assets made a relatively speedy recovery in the aftermath of the crisis, achieving annual growth averaging 8.1 per cent per annum over the past five years, the financial situation of Canadian households is anything but sustainable,” the report reads.
“Macroeconomic shocks like rising interest rates, a labour market slump or falling house prices could pose a serious threat to the solvency of highly-indebted households.
These graphs from the same report just how insatiable Canadians’ appetite for debt is, especially when compared to the U…
How to get out of a bad car loan
– moneysense.ca
Getty ImagesQ: “I bought a Nissan Versa for $17,500. Because I have a poor credit rating, the dealer charged me 29% interest on my car loan. When the loan is finally paid off, the car will have cost me $34,000. I want to sell, but I think the car maybe worth less than the loan. What can I do?”—M. Fisher, Ottawa
A: You can pay off a consumer loan early with little penalty. So arrange a better financing deal with another lender—and get someone to co-sign if you have to. Then use the second loan to pay off the first. Or, sell the Versa and buy a cheaper car. But if what you owe on the Versa is more than its trade-in value, you’ll have to pay the difference by adding that amount to the new car loan. Also cancel any existing loan insurance and replacement value coverage directly with the providers and get a refund.
George Iny is the president of the Automobile Protection Association. Send him your automotive questions at ask@moneysense.ca.
The post How to get out of a bad car loan appeared first on MoneySense.
