Posthaste: Canadians hit the brakes on car ownership, say it's too expensive

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High inflation, interest rates keeping more people from buying or leasing a car this year

is keeping many Canadians from entering the housing market, but it also appears to be putting the brakes on their

Meanwhile, current vehicle owners aren’t using their wheels as much as one might expect. Though more than three-quarters said they couldn’t live without their cars, 85 per cent let them sit unused for 95 per cent of the year, the survey said. Canada’s inflation rate slowed in February, putting a potential Bank of Canada interest rate cut on the table for the summer.

Source: Loan Digest (loandigest.net)

 

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