Why I’m optimistic about the markets in 2025–tariffs or no + MORE Dec 24th

I’m half-Italian, grew up in a kitchen and am a seasoned home cook. Even so, I still turn to an expert (my mom) for advice on my most special dishes. After all, creating a culinary masterpiece requires careful planning, attentive research, vigilant sourcing and maybe some expert help. Ditto shopping for a car loan to get the best rates. Whether you’re in the kitchen or the car dealership, expert guidance can keep those stress levels from boiling over when the stakes (steaks?) are high. Janet Gray (who makes a mean Spaghetti Bolognese, btw) is an advice-only Certified Financial Planner with Money Coaches Canada. Below, she’ll help us crack the crust of complexity you’ll encounter when researching and comparing car loans and their interest rates, saving you some time (and dough) in the process. Grab a spoon, and let’s dig into how to get access to the best car loan rates in Canada.

How to get a car loan: the basics

When you get a car loan, you borrow money to pay for the car, and then, you pay that money back to the lender over a pre-set length of time through a series of regular, continuous payments…

Will he or won’t he? Ever since former president and president-elect Donald J. Trump threatened to impose 25% tariffs on all goods entering the U.S. from Canada and Mexico and 10% tariffs on China, that’s been the question on everyone’s mind. Is this a negotiating tactic? I think so. But even if he does follow through, no one knows what’s going to happen, likely not even Trump, which is why I’m not losing any sleep over it and remain positive about the outlook for the markets in 2025.

I am not ignoring all this. But I am doing what I always do: staying disciplined, doing my research, focusing on finding value, all while knowing there will be market swings and a need to adapt the portfolio, as needed. It’s not sexy, but it works. It’s a foundation to build a strong portfolio able to withstand market challenges. 

Let’s take a quick look back at 2024 and see how it’s positioned Canadian investors for 2025. 

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Buying a car in Canada can be a daunting task for newcomers to the country, facing unique challenges like a lack of credit history, an unfamiliar selection of vehicles, new regulations, and new financing and insurance options. Below, we’ll dive into the important steps, tips and pitfalls to help newcomers successfully navigate the Canadian car-buying journey. We’ve included insights from Janet Gray, an advice-only Certified Financial Planner with Money Coaches Canada.

What is the average car price in Canada?

According to CanadianAutoDealer.ca, the average transaction price for a new passenger car in Canada is about $46,000, and the average transaction price for a new light truck (pickup or SUV) is about $54,000. Just under 9 in 10 vehicles sold in Canada are light trucks. Fewer shoppers than ever are choosing to drive passenger cars, and fewer automakers are selling them.

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Savings comparison tool

Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.

Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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Best high-interest savings account rates in Canada

Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest rate is a no-brainer…

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The company of a stock I own went bankrupt. Am I able to claim losses? If so, how?

—Jake 

Can you save on tax when a company you invest in goes bankrupt?

The short answer is: it depends, Jake. But, I will outline the factors to consider to determine if and how you can claim a deduction on your tax return.

Where do you own the investment?

If you own the stock in a tax-preferred account, such as a registered retirement savings plan (RRSP) or tax-free savings account (TFSA), you do not get any tax relief. This is one of the risks of losing money in RRSPs and TFSAs.

RRSP withdrawals are taxable at rates that generally range from 20% to 50%. If it makes you feel any better, one way to look at it is that you’ve really only lost 50 to 80 cents on the dollar of the investment, since you would not have been able to spend 100% of the withdrawal anyway.

You do not get back any of the lost RRSP nor any additional TFSA contribution room.

Also read

Income Tax Guide for Canadians
Deadlines, tax tips and more

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What type of stock was it?

There may be a difference between the tax treatment of a publicly traded stock that trades on a stock exchange and shares of a private company, Jake…