There are several reasons why insurance myths exist, said Steven Harris, licensed insurance broker and LowestRates.ca expert. “(Insurance contracts) are written in legal terms and it doesn’t always translate into everyday language,” he said. “There can be a little barrier there.”
Harris said people also often assume they’ll be covered against various damages or liabilities, but don’t necessarily know or understand exactly what’s in the policy. A lot of people draw upon personal experiences of friends and family and make decisions based on that, he added.
Here are some of the most common myths.
Red vehicles cost more to insure
The most common question Harris said he comes across is whether owning a red car costs more to insure. The reasons underpinning the misconception are broad, including a red car could make you more noticeable to police, the driver could be more prone to speeding or careless driving or that the colour elicits a negative psychological response from other drivers.
“There is no meaningful data or correlation to your vehicle colour,” Harris said. “If your car is a vibrant yellow or a hot red, it’s not going to increase the likelihood that you’ll incur a loss in the form of a collision or even a theft.”
Instead, insurers often rely on data such as the make and year of the car and the driver’s track record to determine the insurance rate, he said.
Comprehensive coverage means full coverage
Comprehensive coverage insures you against non-collision-related damages only, such as fire, theft, hail, or water damage. It may not include collision insurance. Full coverage encompasses both collision and non-collision damages. “If you only have comprehensive coverage, that means you’re missing the collision piece of coverage,” Harris said.
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Your personal policy covers ride-share driving
Rideshare apps such as Uber and Lyft offer a master policy to drivers for the duration the car is being used for business, said Anne Marie Thomas, director of consumer and industry relations at the Insurance Bureau Canada. However, drivers need to understand which insurance applies in which situation.
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“If I am just driving to the grocery store with my car, my own personal car insurance kicks in if I get in an accident,” she said. “If I’m a rideshare driver and have activated the app, that’s when the ride-share policy kicks in.”
Thomas said it’s important to notify your personal auto insurance provider if you’re going to be using your vehicle for business.
Moving homes doesn’t affect auto insurance rates
Morgan Roberts, vice-president at RH Insurance, said people often assume moving homes won’t impact their insurance rate, but it does.
“Even if you move next door and it just happens to change the postal code, it can affect your rates positively or negatively,” she said. That’s because insurance companies rate risk based on territories and postal codes, which could increase or decrease your premiums.
Auto insurance will automatically rise when you make a claim
It depends on the type of claim, according to Harris. If the driver is at fault, the premium would likely go up. If it’s not the driver’s fault, the rate would typically remain unchanged.
Comprehensive claims, such as fire or hail damage, also don’t affect the insurance cost, he said. “But like anything, you want to be mindful of how many claims you have,” Harris said.
Parking tickets increase insurance premiums
Morgan said people assume that since it’s a ticket, it will affect the insurance premium, but it doesn’t. “It’s just an expensive thing to happen because you still have to pay those tickets,” she said.
Similarly, a speed camera ticket doesn’t affect your insurance rate, but if a police officer pulls over a driver, it will affect the insurance rate, she said.
Tesla launched its own auto insurance options for California customers back in 2019, but it may soon lose its authorization to do just that. The California Department of Insurance (CDI) issued enforcement actions against Tesla Insurance, which acts as an agent for State National Insurance Company and is also named in the legal notice. The issued warning claims that Tesla Insurance and State National saw “repeated failures to comply with long-standing claims handling laws.” The agency also accused Tesla Insurance of “egregious delays” when responding to its customers’ claims and not conducting “thorough, fair and objective investigations of claims.”
According to the filing, the CDI received 97 complaints about State National in 2022 and determined that 21 were justified, while also noting that the insurance provider committed 40 violations of the state’s insurance regulations. The numbers skyrocketed over the years, eventually hitting 1,095 received complaints about State National, which were boiled down to 415 justified complaints between January 1, 2025 and September 22, 2025. Within this year’s complaints so far, the CDI said that State National committed 1,498 violations of the state’s insurance code.
As for Tesla Insurance, the CDI received 842 complaints and said that 166 of which were justified in the same time period. The agency also accused Tesla of committing 532 violations. On top of the violations, the state agency claimed that Tesla Insurance’s Head of Claims position was left vacant for several months, and when eventually filled, saw frequent turnover between April 2023 and May 2025.
After the filing on Friday, Tesla Insurance and State National have 15 days to respond to the CDI. If the two insurance providers don’t resolve the issues laid out in the complaint, they will be put in front of a judge who will determine if they can continue offering insurance in the state. Along with the potential regulatory consequences, Tesla Insurance and State National will face “monetary penalties up to $5,000 for each unlawful, unfair, or deceptive act, or up to $10,000 for each such act determined to be willful.”
With excellent road manners, highly approachable safety and convenience technologies, affordable used-market pricing and access to a wide network of dealer service locations from coast to coast, the Mach-E is my top pick for growing families looking to add a flexible all-electric to their fleet, and an easy addition to our list of top used cars in Canada.
Is the Mustang Mach-E a good car?
Yes. On previous test drives of this machine, I’ve praised its quiet and comfortable highway ride, highly responsive and fuss-free infotainment system, excellent road manners, and quick charge-up times on longer road trips.
Don’t take my word for it, though: Car and Driver named the Mach-E EV of the Year in 2021, as well as an Editors’ Choice. Ford’s first foray into the electric SUV market also racked up trophies for design, range, value and style from other industry authorities like Autoguide, AutoWeek, Motor1 and AutoTrader.ca.
In any configuration, expect Mach-E’s roomy and flexible cabin to readily adapt to your family’s changing needs. The rear seats are spacious and comfortable, folding seats add flexibility, and the cargo area’s relatively low load-in height provides easy access for small grocery helpers and family canines alike. There’s even a “frunk” under the Mach-E’s hood, providing additional storage space.
The Mach-E has a generous suite of the latest advanced safety and driver assistance tech as standard or optional, depending on the year and trim grade you’re considering. Safety-minded shoppers can rest easy with the Mach-E’s 2021 Insurance Institute for Highway Safety (IIHS) Top Safety Pick rating.
Though the Mach-E is a seriously high-tech machine, it’s also one of the market’s most approachable. Interfaces and menus are easy to use and navigate, connectivity is a breeze, and driver-facing systems are logical to use and responsive. If a second-hand Mach-E will be your first new car in some time, you’ll be up to speed on how to work its one-pedal drive, enhanced charging features, drive modes and slick infotainment system in just a few drives.
What’s under the hood?
Marking the first expansion of the Mustang model lineup in 55 years, the new Mach-E came with various motor and battery configurations that gave shoppers access to both two- and four-wheel drive, as well as sub-models configured for maximum range, maximum performance or maximum affordability.
Battery packs include both 70-kWh and 91-kWh options, with single-motor models running rear-wheel drive.
Two motors electrify the Corolla Hybrid’s 1.8-litre gasoline engine, turning it into a hybrid engine. The electric motors are connected to the car’s wheels and engine via the transmission, and a battery used to store power for the hybrid engine is located beneath the rear seat.
The hybrid engine’s electric motors can use electricity from the battery to drive the Corolla’s wheels, in part or in full. At any given moment, this can reduce or even eliminate the need for the gas engine to run, since the car can be driven entirely on electricity in some situations, and partly by electricity in many more.
By the way, that hybrid battery recharges automatically as you drive around, it never gets empty and there’s nothing to plug in. As long as there’s gas in the tank, you’re ready to drive.
The hybrid system is totally automatic and requires no driver decision-making at any time. You can customize the driving experience with different drive modes, and an on-screen visual coach can be called up to help fine-tune the driver’s hybrid driving skills if they like.
Expect considerably faster acceleration and smoother response versus a non-hybrid Corolla.
Should you buy a used Corolla Hybrid?
The Corolla has a pretty stellar reputation for delivering a no-nonsense ownership experience and strong long-term value, and tracking down a second-hand Corolla Hybrid with remaining factory warranty shouldn’t be much trouble.
Shopping for a Certified Pre-Owned (CPO) vehicle, available only from authorized dealerships, can add peace of mind. To become CPO-certified, used cars must meet certain standards for quality and condition. You won’t get that assurance if buying from a private seller. (Learn more about buying new vs. used.)
Are there any recalls for the Toyota Corolla Hybrid?
Transport Canada lists a single recall for the Toyota Corolla Hybrid, for a seatbelt-related fault; it affected fewer than 1,000 cars in Canada. Before you buy a used Toyota Corolla Hybrid (or any car), check online or with your local dealer to see if any outstanding recalls apply to the model you’re considering. And if you do buy the car, contact the manufacturer to register as the new owner. This ensures that any future recall notices make their way to you quickly.
Check the specific spare tire and mobility provisions included with the used Corolla Hybrid you’re considering, as some owners have sought accessory tire inflators or temporary spare tires to supplement the factory equipment. Specifically, some drivers prefer to carry a temporary spare tire instead of (or alongside) the factory-provided inflator kit. Your needs may vary depending on where and how you drive, but knowing what equipment you have (or need) in the event of a flat tire is important.
But with the most frequently stolen vehicles, even a tag may not necessarily reduce insurance premiums, experts warn.
Every insurance company works differently, said McGuinty. “There’s no set standard response from the insurance industry in terms of, if you install an aftermarket tracking device, you will receive X premium discount,” he said. “That’s just not how it’s operating.”
It could, however, deter potential thieves—which can affect insurance premiums in the future since drivers who have had a vehicle stolen in the past may pay more over time.
Hands explained that taking preventive measures, even if an insurance company isn’t offering discounts or reimbursements, still benefits car owners. “The longer you can stay claims-free with your record, the better your insurance pricing should be,” Hands said. Shopping around for better deals on insurance is also a crucial cost-saving step.
Can you be denied insurance because of the model?
Steve Henderson, a managing partner at Youngs Insurance Brokers Inc., says he has been noticing some insurance companies taking a step back by refusing to insure cars high up on the list of most stolen vehicles. When working with a client, he said he tries his best to get suitable deals and share any piece of advice coming down the chain from insurance companies.
“We check our array of companies, we find out who’s the best,” Henderson said. “We try and use our companies to the advantage of the consumers.”
How to prevent your car from being stolen
Some tips to deter car thefts, and likely offer relief on insurance premiums, include parking inside the garage, locking the steering wheel with a device when parked outdoors; and storing car keys in a Faraday pouch, an aluminum-lined bag that blocks fob signals. Hands said people thinking of buying a new vehicle should look at the most-stolen vehicle models and check if their potential purchase is a part of the list.
“If you’re looking for a vehicle as utility, picking a vehicle that’s not on this list might be something you might want to do, because it’ll help you save money in the long run,” Hands said.
Mark Kalinowski, a credit counsellor and financial educator at the Credit Counselling Society, says you need to know what you can afford when it comes to a car loan. “If you can’t pay for it and they repossess it, well, now your credit’s ruined for a long time,” he said. You can only afford so much credit based on your income level, so if you take on a car loan, that will eat away at other borrowing capacity such as a mortgage, Kalinowski said.
How much is a car? Add interest, among other things
When shopping for a car, the numbers can come fast and furious and they can add up quickly. It’s important to keep the total cost of the vehicle in mind, Kalinowski said, not just the monthly or biweekly payment you will have to make. “One of the big things you see in dealerships is they don’t sell you the price of the car, they sell you the payments,” he said.
Additions like an extended warranty and undercoating may only add a few dollars a month to your payment, he says, but they can pile up to add significant costs to the overall price. “They’re going to roll [it] into the financing, so now you’re gonna pay interest on it as well,” he said.
Gone are the days of easy credit and dealership offerings of 0% financing for new cars and trucks, so it’s important to shop around to ensure you’re getting the best deal you can on your loan, said Natasha Macmillan, director of everyday banking at Ratehub.ca.
“It can save hundreds to thousands of dollars or more for a car or anything like that,” she said.
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Should you get a car loan from your bank or the dealership?
Kalinowski said borrowing from your bank instead of using the dealership financing may also give you some additional bargaining power.
Macmillan added that a better credit score typically means a better interest rate, so if you delay your purchase to give yourself time to improve your rating, it could save you money.
The term of the loan is also key. A longer term will mean lower monthly payments, but will raise the overall cost of the vehicle because you will be paying interest on the amount you borrow for longer.
Kalinowski said his father told him not to borrow money to buy a new car for a longer term than the vehicle’s warranty.
Auto insurance for new drivers in B.C. with an L or N licence
In B.C., auto insurance is purchased through the ICBC’s broker network. When you have your L, you can’t take out your own auto insurance policy yet, since you can’t drive independently. Instead, you’ll need to be listed as a secondary driver on another policy (say, one of your parents), which typically costs $130 to $230 per year.
Once you get your N, however, and you decide to take out your own auto insurance policy, the costs will increase considerably. New drivers in B.C. who have just earned their N can pay as much as $3,000 per year for their own auto insurance policy—a 10-fold increase of what they paid when they had the L.
Getting your full licence in B.C.
The final step in the graduated licencing system is to get your full, unrestricted licence. Once you’ve had your N licence for 24 months with a clean driving record, you can go for your Class 5 road test, which costs $50, at any ICBC licensing office. If you’ve completed a Graduated Licencing Program course from an ICBC-accredited driving school, the wait time decreases from 24 to 18 months.
The Class 5 road test is a slightly more challenging version of the Class 7 road test. At this stage, you’ll be tested on things like turning, changing lanes and parking, in a variety of driving environments. For your Class 5 test, your examiner can take you on the highway, into busy commercial areas and through large intersections.
If you don’t pass the Class 5 test, you’ll need to wait 14 days before you can take the test again.
Going to driving school in B.C.
Throughout the graduated licencing process, driving school can help you learn the skills you need. The costs and types of driving lessons you’ll need will vary depending on which step of the graduated licencing process you’re at.
L stage: To prepare for the L knowledge test, you can use the ICBC’s free Learn to Drive Smart app (available for iOS and Android). You can also buy a practice workbook or an online L test prep tool. These are relatively inexpensive, typically costing $20 to $50. It is a worthwhile investment, though, because each additional L test attempt costs $15, as well as a few hours of your time.
N stage: You’ll want to explore taking a course that’s tailored to help you pass your Class 7 road test. There are two types of courses. The first (and more expensive) option is enrolling in a Graduated Licencing Program (GLP) course. GLP courses typically cost $1,400 to $1,600. Unfortunately, unlike in other Canadian provinces such as Ontario, going through a GLP in British Columbia doesn’t lower your auto insurance, but it has other perks. If you complete a GLP with an ICBC-approved driving school, you can qualify for a six-month wait time reduction between the time you get your N and the time you get your full licence (18 months instead of 24 months). Additionally, if you’re a high school student, you can get two high school credits. Instead of taking a GLP course, the other option at the N stage is to take any other preparation course for the Class 7 road test. Prep courses outside of the GLP are usually significantly cheaper, ranging from $900 to $1,200. Given the limited financial benefits of the GLP, most driving students in B.C. opt for the non-GLP option.
Class 5 road test stage: Finally, when you’re preparing for your Class 5 test, it’s a good idea to take a few practice lessons with a driving school. These lessons typically cost between $75 to $150 per hour. They will cover what you need to know for the Class 5 test.
Overall, taking lessons with an ICBC-certified driving school can make you a safer driver and increase your chances of passing your road tests on the first try. Safe driving habits are something that you build for life, and investing in driver’s ed early in your licencing journey can pay dividends.
What is a B.C. driver’s abstract?
You may hear the term “B.C. driver’s abstract.” Also known as the driving record, this is an official document that covers your driving history. It highlights any infractions, accidents or demerit points accumulated over the past five years.
You can obtain your driver’s abstract online, in person at an ICBC office, or by phone. Typically, driving abstracts are required when applying for a job that involves driving, moving to a new province or country, or seeking an insurance quote. There is no cost to get your driver’s abstract.
How much does it cost for a new driver to be insured in B.C.?
Once you have your full licence, you’ll need to get insured. In B.C., car insurance is provided through the Insurance Corporation of British Columbia (ICBC). For new drivers, insurance can cost as much as $3,000 per year.
Your insurance rates will depend on several factors, including the type of licence you hold, your driving experience and your vehicle. As a new driver, your rates may be higher, but they can decrease over time if you maintain a safe driving record. As mentioned earlier, attending driving school unfortunately doesn’t lower insurance rates in B.C., but maintaining a safe driving record, combined with exploring low-kilometre and distance-based discounts, can add up.
Auto insurance in British Columbia can be purchased through any of the ICBC’s 900-plus licenced Autoplan brokers. Once you have insurance and your full, unrestricted licence, you’ll be ready to drive.
The sobering analysis highlights a range of driving-related metrics, including fatal car crashes, speeding, drunk driving, and distracted drivers.
Out of the 50 most populated cities in the nation, Detroit ranks second in the rate of fatal car crashes, with 19.76 per 100,000 residents. Only Memphis, Tennessee, had a higher rate at 24.18 per 100,000 residents.
Detroit also ranks second in the rate of fatal car crashes involving a drunk driver (6.54 per 100,000 residents), second in the rate of fatal crashes involving speeding (6.8 per 100,000 residents), and second in the rate of people killed in fatal crashes (21.47 per 100,000 residents).
According to the study, Albuquerque, New Mexico, has the worst drivers in the U.S., followed by Memphis. Tucson, Arizona, ranked fourth, and Kansas City, Missouri, ranked fifth.
Auto insurance rates in Michigan were supposed to dramatically decline after state lawmakers and Gov. Gretchen Whitmer approved legislation in 2019 to combat the sky-high premiums. But the rates have remained high, and between 2023 and 2024, the average premiums in Detroit jumped 85%, from $3,067 to $5,687.
“More dangerous driving leads to increased risk and higher insurance rates,” Forbes Advisor reported. “Getting speeding tickets, running red lights, texting while driving and other reckless behaviors all raise your chances of accidents and damage claims. This makes you a greater liability in the eyes of insurers.”
If a car is in stock, and you have a good credit score, you might be able to negotiate a good interest rate for your loan—the salesperson may be more willing to make a deal to sell a car already on the lot. On the other hand, dealerships can also mark up the prices of cars, and buyers may be willing to pay more for the convenience of getting one sooner. Doing your research is the only way to know if you’re paying a fair price.
Pay off your car loan faster
Whenever you come into extra money, such as birthday gifts or work bonuses, consider paying off your car faster. Many car loans are open loans, allowing you to make additional payments or settle the loan in full anytime without penalties or fees. (Confirm with your lender.)
Common car sales tactics to watch for
Upselling
The salesperson might attempt to upsell you on additional features and accessories. If you’re financing or leasing the car, they’ll likely focus on the monthly or bi-weekly payment increase rather than the total cost. They might say, for example, that adding features X and Y will increase your bi-weekly payment by just $15—about the cost of a Big Mac combo. (I’ve used this line myself, and yes, it worked.) Doesn’t sound like much, right? But consider whether the upgrade will fit your budget. Let’s say you’re fully financing a $30,000 vehicle in Ontario. The cost with 13% HST would be $3,390. If you signed a six-year loan with an interest rate of 7.48% and made bi-weekly payments, the total interest would be $8,222.21. If you added a feature or an upgrade that cost another $15 per bi-weekly payment, that would add $2,340 to the cost of the car, plus $641.33 in interest over the life of the loan.
Skip the unwanted add-ons
Evaluate the necessity of extra offerings like extended warranties or upgrades, especially if you have a strict budget. Request an itemized list of all charges and look for unexpected costs.
“Good cop, bad cop”
While many salespeople are genuinely helpful, informative and valuable in the car-buying process, that doesn’t mean they won’t use psychological tactics to persuade you to buy. During test drives, I’d tell customers a little bit about the car and then focus on personal lifestyle questions that I could bring up later in the sales pitch. For example, if I found out that they commuted to work, I’d say something like “If you’re here, that means you don’t want to spend hours a day taking the bus to work and back, right? Let’s work together and write a deal today.”
Sales tactics might involve a coordinated strategy. For example, when negotiating with a customer, my sales manager and I employed a “good cop, bad cop” tactic where he would assume an aggressive attitude, while I had an understanding, sympathetic demeanour. My goal was to build rapport and gain the person’s trust, in contrast to my manager’s near-hostility. This was a technique I was taught by someone with more than 20 years of industry experience—and most of the time, it worked.
Don’t bend under pressure
A salesperson might try to rush or pressure you into buying. This may be amplified if car inventory is low, but stand your ground and remain calm.
What can you negotiate besides price?
As part of your deal, you can ask about perks you want, such as complimentary oil changes for a year, car accessories, winter tires, window tints or all-weather floor mats. But if you want to attempt this, research the costs of these add-ons before you visit the dealership. (Read further tips on planning for a financial negotiation.)
Get it in writing
If a salesperson makes generous offers like free oil changes or extended warranties, get them in writing. Documenting all promises can help avoid misunderstandings.
It may be hard to trust your instincts during negotiations, as emotions and high-pressure sales tactics can cloud your judgment. However, thorough preparation can help you tell if a deal is too good to be true—or not good at all. Don’t hesitate to seek a second opinion. Above all, stay calm and confident, and be willing to walk away if you’re not comfortable with the terms of the deal.
Key questions to ask before signing a car deal
What is the final out-the-door price, including all fees and charges?
Are there additional warranties or protection plans added to the deal? Can I opt out?
Can I see a breakdown of the financing terms and monthly payments?
Are there prepayment penalties if I decide to pay off the loan early?
Can I review all the documents and contracts before signing?
Check for hidden fees
Look for hidden or tacked-on fees not previously discussed during negotiations, such as excessively high administrative charges. Carefully review all documents, question unfamiliar charges, and don’t hesitate to call off the deal if you’re uneasy.
The best first car to buy
Buying your first car in Canada is an exciting milestone. By following these insider tips and navigating the car market with caution, you can make informed decisions and find the best first car to buy for your needs, preferences and budget.
If you have a particular car in mind and you’re not in a hurry, it’s worth thinking ahead by up to a year, if not more. And if you’re open to variations in colour, model or trim, this flexibility can work to your advantage.
Alberta premiums have gone up specifically due to soaring legal fees and other costs associated with lawsuits following accidents, which is not the case in other provinces. That’s thanks to a culture of litigation in the province, which isn’t as present in the rest of Canada.
Over the last 10 years, the average size of accident benefit claims increased by 147% in Alberta, compared with 53% or less in other provinces. Put plainly, claims are higher in Alberta than elsewhere in Canada, due to bodily injury claims and escalating legal costs in Alberta.
Huge auto-insurance legal costs are to blame as well. These costs have gone up in the province by 38% since 2018 and account for about 20% of the premiums drivers pay for mandatory auto insurance coverage in Alberta.
“This is equivalent to nearly $200 for each policy annually,” the IBC has stated in a recent report.
Another contributing factor, according to MNP, is the increasing cost and length of car repairs. A Toyota RAV4 bumper costs $4,144 to replace today, up 50% from $2,769 in 2017. Also, 24% of auto sales in Alberta are of trucks, which is higher than the national average of 18.1%.
Supply chain issues have slowed down auto parts replacement, as any car owner who’s had to cool their heels for a part to arrive at their mechanic can attest to. This waiting has had a knock-on effect of making car rental lengths longer in Alberta as well.
TOYOTA RAV4 model year
Cost of repair
Total increase of repairs
2017
17 parts total cost of repair: $2,769
n/a
2022
39 parts total cost to repair: $4,144
50% increase from 2017 (newer vehicles have complex technology and more parts to repair)
This next-generation EV went on to earn the favour of owners, reviewers and industry authorities alike. According to most experts, it remains one of its best offerings after several years of racking up positive reviews and awards.
Is the Mustang Mach-E a good car?
Yes, for many reasons. This SUV has excellent road manners. The Mustang Mach-E’s interior offers a roomy cabin with easy-to-fold seats. The added storage of the front-mounted “frunk” is a key draw, along with a strong technology and safety package. The Mach-E has tempted many electric-curious shoppers to buy their first electric car.
In today’s used market, shoppers can expect to find plenty of selection for lightly used EVs, with many vehicles offering winter-ready all-wheel drive (AWD) and priced around $50,000. With many Canadian shoppers considering AWD a mandatory feature these days, a used Ford Mustang Mach-E puts a persuasive AWD-equipped pick into the same pricing ballpark as a brand-new front-drive competitor.
With an eight-year factory battery warranty, available Certified Pre-Owned (CPO) perks and virtually no ongoing maintenance, a used Mustang Mach-E gives shoppers a strong taste of modern electric motoring without the waiting lists and pre-delivery inspection (PDI) charges. (For more recommendations for pre-owned vehicles, read my picks for the best used cars in Canada.)
Fun fact
The Mustang Mach-E is available with BlueCruise, a hands-free driver support system that enables extended periods of hands-free driving on pre-qualified divided highways. When entering a compatible stretch of highway (called a Blue Zone), drivers can engage BlueCruise with a click and experience hands-free driving while they keep their eyes on the road.
Best EV at the Canadian Car of the Year awards
There’s a more important reason for calling the Mach-E a top pick for a used EV: it’s an award-winner when it comes to the Automobile Journalists Association of Canada’s 2022 Canadian Car of the Year testing data. When the Mach-E was originally tested by this panel of Canadian experts, it took the top score in the category, leaving both the Hyundai Kona Electric and Kia Niro EV trailing behind by a considerable margin.
After dozens of judges submitted their scores, the Ford Mustang Mach-E came away with top marks virtually across the board—including for cargo, refinement, throttle response, ride comfort and features. This impressive showing in its first year of testing strongly indicates that Ford got the Mustang Mach-E just right, right out of the gate.
How much is insurance for a Ford Mustang Mach-E?
Auto insurance quotes are based on several factors, including your age, location and more. Here’s the estimated monthly cost to insure a 2023 Ford F-150 Lightning for these driver profiles:
Female, age 35, living in Toronto, with a clean driving record: $178
Male, age 35, living in Toronto, with a clean driving record: $179
Gender X, age 35, living in Toronto, with a clean driving record: $178
Quotes provided by Ratehub*. (Ratehub and MoneySense are both owned by Ratehub Inc.) Policies include $1 million liability coverage, $1,000 collision deductible and $1,000 comprehensive deductible, with discounts for bundling and UBI.
2021 Ford Mustang Mach-E specifications
Starting price: $54,999
Body type: SUV
Powertrain layout: Rear motor, rear-drive or dual motor AWD
Horsepower: Up to 480
Torque (lb-ft): Up to 634
Battery capacity: Up to 88 kWh
Range: Up to 483 km
Charging time: Approximately 10 h at 240 V
Energy consumption (kWh/100 km as per NRCan):20.7 (combined)
If a link has an asterisk (*) at the end of it, that means it’s an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It’s important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it’s included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy.
Justin Pritchard is an automotive journalist and award-winning presenter, photographer, videographer and technical writer in Sudbury, Ont. He is a former co-chair of the Canadian Car of the Year Awards, and his passion for vehicle testing is the core of his work.
Globally, the ID. Buzz is offered in short-wheelbase and long-wheelbase options, the latter growing in length by about 26 centimeters (10 inches). This will be the version of the VW ID. Buzz available in Canada. It can accommodate up to seven passengers, and the seats are fully removable.
Both rear-wheel and all-wheel drive models will be available, with AWD-equipped models expected to deliver over 320 horsepower. The ID. Buzz will charge from 10% to 80% in less than a half-hour while fast-charging, though most drivers will recharge at home or work.
Photo courtesy of Volkswagen
How much interior space will the VW ID. Buzz have?
The real reason the ID. Buzz is on our list as the best EV for space and size comes down to the numbers. When space matters, this one’s going to be hard to beat. The VW ID. Buzz interior is impressive. Excluding the Tesla Model X (and its $109,990 starting price in Canada), this EV is the most spacious all-electric for your buck, according to the specifications.
With 1,233 litres of cargo capacity and a maximum cargo volume of 2,593 litres, the ID. Buzz gives shoppers access to one of the largest EV interiors on the road at a significant price advantage—making it an easy choice for this category. The VW ID. Buzz price in Canada is estimated at $45,000.
Fun fact
The VW ID. Buzz has dual sliding electric doors, a power tailgate and an electrochromic panoramic sunroof that tints at a button press. It also has the ID. Light system, which allows the vehicle to communicate with its driver using a coloured light strip that runs across the top of the interior dashboard, just behind the lower edge of the windshield.
When will the VW ID. Buzz be available in Canada?
The VW ID. Buzz is expected to arrive in Canada in mid-2024. Further details on this EV will be announced closer to its launch and pre-order opening date in late 2024.
How much is insurance for a VW ID. Buzz?
Insurance details are not yet available for the 2024 VW ID. Buzz. Check back in late 2024!
Volkswagen ID. Buzz preliminary specifications
Starting price: Approximately $45,000 (to be confirmed)
Body type: Van
Powertrain layout: Dual motor AWD or single-motor rear-drive
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Justin Pritchard is an automotive journalist and award-winning presenter, photographer, videographer and technical writer in Sudbury, Ont. He is a former co-chair of the Canadian Car of the Year Awards, and his passion for vehicle testing is the core of his work.
With various battery and motor combinations targeting a range of shoppers after a tech-savvy and fuel-free pickup truck experience, the F-150 Lightning comes packed with the latest in connectivity, safety and convenience tech—not to mention fully digital instrumentation, standard 4×4 and available range of over 480 kilometres.
Is the Ford F-150 Lightning a good truck?
Yes, and it’s every bit as tough and hardworking as other F-150s. All models get 775 lb.-ft of torque, with up to 563 horsepower available. The F-150 Lightning supports both AC and DC fast-charging. With a 150-kW DC fast charger, it can charge from 15% to 80% in about 41 minutes, though most owners simply recharge overnight in their parking spaces or driveways. A 15.5-inch touchscreen display doubles as a high-resolution backup camera, too.
Photo courtesy of Ford
With its spacious cabin, functional box with power outlets, and a unique “frunk,” the F-150 Lightning makes camping a breeze in several ways. First, the frunk provides a secondary large storage area that’s covered, lockable and weather-sealed. With no need for an engine, cooling system or transmission, the Lightning’s engineers repurposed the area for functional storage—complete with an easy-to-clean surface, built-in lighting and numerous high-output power outlets.
With rugged 4×4 traction and pickup construction, the F-150 Lightning is tough enough to access even remote camping locations, packing plenty of space, functionality and exportable power along for the trip. Few EVs on the road today are as handy for active families and outdoor enthusiasts, making this pickup truck an easy pick for our best EV for camping. Best of all, Ford F-150 Lightning owners are fully backed up by the support of the Ford dealer network, coast to coast.
Fun fact
The F-150 Lightning can provide electricity to your home during a power outage—think of it as a big four-wheel-drive power bank. It’s great for powering tools and gear at work sites and camp sites, too. When camping, some Lightning drivers rent an RV site with a power outlet, so they can recharge their truck.
What is the price of the Ford F-150 Lightning in Canada?
The cost of the F-150 Lightning starts at $59,995. Ford has four models to choose from—the most expensive one starts at $117,395. (Beyond your budget? See our other picks for the best EVs in Canada, including the best affordable EV.)
Here’s what the F-150 Lightning does to your electricity (and fuel) bill
How much can you save on gas by switching to an electric pickup truck?
Suppose you currently drive a Ford F-150 with a 5-litre V8 engine and four-wheel drive. In this configuration, based on Natural Resources Canada (NRCan) fuel economy ratings, your truck uses about 13 litres of gas to drive 100 kilometres on average at room temperature. Assuming fuel costs $1.55 per litre, driving 100 kilometres in this truck costs you about $20. If you drive 22,000 kilometres per year, that’s an annual fuel cost of about $4,430, or approximately $370 per month.
To drive the same 100 kilometres in an F-150 Lightning at room temperature, you’ll need about 29 kWh of electricity. Using the off-peak charging rates in Sudbury, Ont., where I live (7.4 cents per kWh), driving 100 kilometres in the F-150 Lightning costs about $2.21. That’s a fuel cost of about $485 per year (about $40 per month), assuming you charge exclusively at home during off-peak hours.
The owner of a 2018 C-HR that experienced a failure at just over 100,000 kilometres and five years received an estimate of $10,000 to replace the transmission with a new one. After he complained, the repair cost was reduced to $4,000, with Toyota Canada and the dealer making up the difference.
Toyota Canada rejected a claim for a transmission failure at 138,000 kilometres on a 2019 C-HR; the Montreal-area dealer estimated the repair at slightly over $10,000.
An alternative to replacing the transmission: A less expensive repair
If no help is forthcoming, an alternative may be to find a used transmission from a wrecked C-HR and have it installed, for a final price in the range of $4,000 to $5,000. The risk: a replacement used transmission may well develop the same defect as your original transmission over time—that’s a risky bet if you intend to hang on to your C-HR for many more years.
A third way to fix a CH-R transmission
I checked with Alain Groulx, a transmission expert who has helped many members of the APA resolve transmission failures. Here’s his take on the transmission failure in your C-HR:
“Based on the information provided, it seems to be an issue with defective bearings inside the transmission. It’s a shame that dealers are recommending replacing the entire transmission at the customer’s expense instead of trying to repair it. By replacing a complete transmission, the warranty is carried by the manufacturer, so there is less risk for the dealer, but it comes at a heavy price to the customer.
“A good transmission rebuilder may be able to open and repair the transmission. We had similar issues with the Jeep Patriot that used a CVT transmission on some models. The differential carrier bearings experienced many failures at low mileages; we were able to source and replace the bearings at a fraction of the cost of a new transmission.
“If this is a recurring problem, Toyota could make a bearing set available as a recommended repair kit. That has the potential to drop the repair price to about $3,000, if the problem is picked up early before a complete bearing failure ruins other components inside the transmission. Sometimes bearings are available from independent suppliers like General Bearing Service (GBS) or similar suppliers. In order to know if they are available in the aftermarket, the transmission would have to be dismantled to get the part number on the defective bearing. In many cases, the bearing is made exclusively for the manufacturer and is not available unless the automaker offers it as a replacement part independently of a complete transmission.”
“Broken telephone” effect: Documenting your transmission failure complaint to prepare a claim
Information sometimes gets lost in translation when a customer reports a problem. In your case, a suggestion to check for “a whine from the engine” may have been enough to throw the technician off the trail. Or the road test conducted during the warranty period was not done at sufficient speed or for enough time to elicit the noise you were hearing.
Here are some steps you can take during the warranty period to improve the odds that issues with your vehicle will be addressed and avoid the “broken telephone” effect:
Ensure your concerns are recorded accurately. Focus on symptoms over solutions, unless you are already familiar with the problem and its repair.
If possible, identify a location on the vehicle to check more carefully, the speed, road conditions, warm/cold engine and other factors that appear relevant.
Use your cellphone to capture intermittent problems that magically seem to disappear when you take your vehicle in for service. For example, record abnormal sounds that come and go, and take photos of warning lights that come on temporarily.
Obtain copies of repair orders, even for no-charge inspections, and retain them.
In my experience, helping consumers with resolving complaints, you can go back about a year relatively successfully for a problem that was reported during the warranty period but wasn’t addressed. To do that, having complete service records will improve your chances of a favourable outcome significantly.
Making your case if your claim is rejected
A transmission, which is a lifetime component of a vehicle, should last for much more than six years or 110,000 kilometres, as long as it’s maintained and isn’t abused. Almost all the automakers that introduced CVT transmissions eventually extended the warranties on some of them past the original “five-year, 100,000-km” powertrain warranty to address durability concerns.
If Toyota Canada isn’t forthcoming with assistance, Ontario lawyer Michael Turk says you could sue the manufacturer, basing your claim on the implied warranty of fitness under the province’s Sale of Goods Act:
You will need to obtain an expert report from a third party, typically a mechanic or transmission expert who will be able to confirm that the bearing is the cause of the failure, and that the failure occurred as a result of a manufacturer’s defect in the transmission. With the expert’s report in hand, your next step is to file a claim in the Small Claims Court for the cost of repair and any additional costs you have incurred as a result of the loss of use of the vehicle arising form the transmission failure. You could also argue that the vehicle exhibited problems with the transmission while it was still under the manufacturer’s original warranty and this was brought to the attention of the dealer at the 88,000-kilometre service while still under warranty. Lastly, when choosing an expert, it is important for the expert to be able to be qualified by the Court as an expert and that your expert is willing to come to court and testify on your behalf. This process has become easier and less disruptive to those who provide expert evidence as the courts have transitioned to a virtual format.
Given that the complaints received to date are serious, I invite other Toyota C-HR owners with an experience to share about their vehicle’s transmission to contact the APA. This will help the association identify a pattern of failures and determine what actions Toyota Canada is taking to address complaints.
Five years ago, auto insurance companies in Ontario, Quebec, Alberta and the Atlantic provinces paid out $400 million in theft claims. In 2022, that figure ballooned to $1.2 billion, the worst on record. Amanda Dean, interim vice president of Ontario region for the Insurance Bureau of Canada, says the situation isn’t likely to improve for 2023.
“As theft rates increase, and along with it claims costs, insurers are certainly worried about what the future could hold,” she says. For drivers, even those with no history of theft or damage, auto insurance is likely to get more expensive so long as theft rates remain high. Fortunately, experts say there are some things drivers can do to minimize their chances of losing their ride.
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Why car theft is on the rise across Canada
Joyriders and opportunists aren’t responsible for most Canadian car thefts, according to insurance experts. Organized crime groups, using sophisticated techniques, bear much of the blame for Canada’s billion-dollar-a-year auto theft problem.
Bryan Gast is the vice president of investigative services for Équité Association, a national not-for-profit that helps Canadian insurers fight fraud. He says one common technique is a relay attack: intercepting the radio frequency used by a key fob to unlock a car remotely. Another is by using the electronic diagnostic port found under a car’s steering wheel to reprogram the car.
Once inside, a thief can drive away with your ride and sell it off. In the most extreme cases, it may end up smuggled through a port—generally on Canada’s eastern seaboard, Gast says—and shipped to West Africa or the Middle East. “We have thousands of vehicles, that have been identified, that we’re working to repatriate back to Canada,” Gast says.
Alternatively, a car might be given a false vehicle identification number (VIN) and used as a car by an organized crime group for its operations. Then there are old-fashioned “chop shops,” where stolen cars are stripped down and sold off for parts. “It’s extremely lucrative,” Gast says.
Experts blame a couple of factors on the rise in auto thefts over the past few years. Dean points to outdated anti-theft standards for Canadian vehicles—the last update, in 2007, was before keyless entry became a common feature on many cars. Then there’s the price of cars themselves. Thanks to persistently-high demand, the average new vehicle cost $66,288 in June 2023, according to Autotrader.
The most stolen cars in Canada
Many of the most-stolen vehicles in Canada aren’t all that flashy. Gast says the models vary by region. In Alberta, for example, pickup trucks are high on the list. According to Équité Association, the most commonly stolen vehicle model in Canada last year was the Honda CR-V. The Ford F-150, Honda Civic and Toyota Highlander—all mainstays of Canadian driveways—made the list of top five most stolen vehicles, as did the Lexus RX, a higher-end model.
Even if you don’t own one of these vehicles, Dean says you’re still on the hook for the ongoing auto theft epidemic. “Claims made by the few are paid for by the premiums of many—this is one of the basic principles of insurance to ensure that claims can be paid.”
A record 43.2 million people are expected to travel by car this July 4 holiday, according to AAA, the motoring and leisure travel membership organization.
Though gas prices are currently still high compared to historical averages, drivers have no plans to cut back on road travel, according to AAA.
That’s as this summer is proving to be a particularly popular travel time. The busier season has not been without complications, including mass flight disruptions leading into the July 4 holiday.
“People want to go somewhere, they want to do something,” said Ted Rossman, senior industry analyst at Bankrate and CreditCards.com. “There’s still a lot of pent-up demand that backed up during the pandemic.”
That demand has helped push categories like airfares and hotels higher this year, Rossman noted.
Opting to drive instead of fly was one of the more common changes, according to Rossman, in addition to choosing cheaper accommodations or destinations and traveling for fewer days.
Travelers who are hitting the road by car or other vehicle may also look for ways to cut costs on gas.
Those hitting the road this weekend may want to fill up if they’re passing through the least expensive markets, according to AAA’s recent ranking of the top 10 least expensive markets.
That includes Mississippi, with prices around $2.97 per gallon; Louisiana, $3.08; Alabama, $3.10; Tennessee, $3.10; Arkansas, $3.11; South Carolina, $3.17; Texas, $3.18; Oklahoma, $3.22; Georgia, $3.23; and North Carolina, $3.25.
Drivers everywhere may save by using apps to help them find better gas prices, such as Upside or GasBuddy, according to Rossman.
Some credit cards may give you up to 5% cash back on gas, according to Rossman. That includes brands such as Chase Freedom Flex and Discover it Cash Back, he said, which are offering that rate between July and September.
Sam’s Club also offers certain cards that will allow consumers to earn money back on gas.
It is also worthwhile to check the perks your existing credit cards may offer, Rossman said.
“You may have a good gas rewards credit card and not even realize it,” Rossman said.
Of note, it is generally best to avoid gas-branded cards, which may come with high 30% annual interest rates and limited discounts on gas purchases, he said.
Drivers should also look to stack offers where they can. For example, a credit card may offer 5% cash back on gas, and a gas station app may provide a 10% offer per gallon, Rossman said.
“That’s two ways to save instead of one,” he said.
Rental cars are also comparatively cheaper this year, Rossman said.
If you’re thinking of renting a car, be sure to double-check whether your credit card may already offer insurance coverage.
“A lot of times, credit cards have various travel perks built in that people may not even realize they have,” Rossman said, which may also include provisions for trip delays or cancellations as well as lost or delayed luggage.
Income-seeking investors are looking at an opportunity to scoop up shares of real estate investment trusts. Stocks in that asset class have become more attractive as prices have fallen and cash flow is improving.
Below is a broad screen of REITs that have high dividend yields and are also expected to generate enough excess cash in 2023 to enable increases in dividend payouts.
REIT prices may turn a corner in 2023
REITs distribute most of their income to shareholders to maintain their tax-advantaged status. But the group is cyclical, with pressure on share prices when interest rates rise, as they have this year at an unprecedented scale. A slowing growth rate for the group may have also placed a drag on the stocks.
And now, with talk that the Federal Reserve may begin to temper its cycle of interest-rate increases, we may be nearing the time when REIT prices rise in anticipation of an eventual decline in interest rates. The market always looks ahead, which means long-term investors who have been waiting on the sidelines to buy higher-yielding income-oriented investments may have to make a move soon.
During an interview on Nov 28, James Bullard, president of the Federal Reserve Bank of St. Louis and a member of the Federal Open Market Committee, discussed the central bank’s cycle of interest-rate increases meant to reduce inflation.
When asked about the potential timing of the Fed’s “terminal rate” (the peak federal funds rate for this cycle), Bullard said: “Generally speaking, I have advocated that sooner is better, that you do want to get to the right level of the policy rate for the current data and the current situation.”
Fed’s Bullard says in MarketWatch interview that markets are underpricing the chance of still-higher rates
In August we published this guide to investing in REITs for income. Since the data for that article was pulled on Aug. 24, the S&P 500 SPX, -0.29%
has declined 4% (despite a 10% rally from its 2022 closing low on Oct. 12), but the benchmark index’s real estate sector has declined 13%.
REITs can be placed broadly into two categories. Mortgage REITs lend money to commercial or residential borrowers and/or invest in mortgage-backed securities, while equity REITs own property and lease it out.
The pressure on share prices can be greater for mortgage REITs, because the mortgage-lending business slows as interest rates rise. In this article we are focusing on equity REITs.
Industry numbers
The National Association of Real Estate Investment Trusts (Nareit) reported that third-quarter funds from operations (FFO) for U.S.-listed equity REITs were up 14% from a year earlier. To put that number in context, the year-over-year growth rate of quarterly FFO has been slowing — it was 35% a year ago. And the third-quarter FFO increase compares to a 23% increase in earnings per share for the S&P 500 from a year earlier, according to FactSet.
The NAREIT report breaks out numbers for 12 categories of equity REITs, and there is great variance in the growth numbers, as you can see here.
FFO is a non-GAAP measure that is commonly used to gauge REITs’ capacity for paying dividends. It adds amortization and depreciation (noncash items) back to earnings, while excluding gains on the sale of property. Adjusted funds from operations (AFFO) goes further, netting out expected capital expenditures to maintain the quality of property investments.
The slowing FFO growth numbers point to the importance of looking at REITs individually, to see if expected cash flow is sufficient to cover dividend payments.
Screen of high-yielding equity REITs
For 2022 through Nov. 28, the S&P 500 has declined 17%, while the real estate sector has fallen 27%, excluding dividends.
Over the very long term, through interest-rate cycles and the liquidity-driven bull market that ended this year, equity REITs have fared well, with an average annual return of 9.3% for 20 years, compared to an average return of 9.6% for the S&P 500, both with dividends reinvested, according to FactSet.
This performance might surprise some investors, when considering the REITs’ income focus and the S&P 500’s heavy weighting for rapidly growing technology companies.
For a broad screen of equity REITs, we began with the Russell 3000 Index RUA, -0.04%,
which represents 98% of U.S. companies by market capitalization.
We then narrowed the list to 119 equity REITs that are followed by at least five analysts covered by FactSet for which AFFO estimates are available.
If we divide the expected 2023 AFFO by the current share price, we have an estimated AFFO yield, which can be compared with the current dividend yield to see if there is expected “headroom” for dividend increases.
For example, if we look at Vornado Realty Trust VNO, +1.03%,
the current dividend yield is 8.56%. Based on the consensus 2023 AFFO estimate among analysts polled by FactSet, the expected AFFO yield is only 7.25%. This doesn’t mean that Vornado will cut its dividend and it doesn’t even mean the company won’t raise its payout next year. But it might make it less likely to do so.
Among the 119 equity REITs, 104 have expected 2023 AFFO headroom of at least 1.00%.
Here are the 20 equity REITs from our screen with the highest current dividend yields that have at least 1% expected AFFO headroom:
Click on the tickers for more about each company. You should read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
The list includes each REIT’s main property investment type. However, many REITs are highly diversified. The simplified categories on the table may not cover all of their investment properties.
Knowing what a REIT invests in is part of the research you should do on your own before buying any individual stock. For arbitrary examples, some investors may wish to steer clear of exposure to certain areas of retail or hotels, or they may favor health-care properties.
Largest REITs
Several of the REITs that passed the screen have relatively small market capitalizations. You might be curious to see how the most widely held REITs fared in the screen. So here’s another list of the 20 largest U.S. REITs among the 119 that passed the first cut, sorted by market cap as of Nov. 28:
The report is the first time that litigation win rates of companies have been published for comparison. In the near future, Premonition plans to release their findings on top litigants in other industries along with their win rates.
Press Release –
updated: Mar 15, 2017
Miami, United States, March 15, 2017 (Newswire.com)
– Connie Daniell climbed into the trunk of her 1973 Ford Ltd and closed it behind her, intent on committing suicide. However, after a subsequent change of mind, she was distressed to find that Ford hadn’t fitted a release handle on the inside of the trunk. When she was finally released 9 days later, she sued Ford for negligence. Frivolous lawsuits like this continue to plague the auto manufacturer. According to a recent survey by Premonition Analytics, Ford has the dubious distinction of being one of the most sued car manufacturers in the USA in 2017.
Name
Cases
Days
Outcome
General Motors
260
161
93%
Chrysler
36
159
88%
Toyota
30
567
80%
Ford
18
63
33%
Hyundai
12
467
80%
BMW
9
47
100%
Nissan
6
151
50%
Tesla
3
158
100%
Audi
2
0
100%
Porsche
1
0
0%
Volkswagen
1
0
0%
Ford also has less litigation than every other domestic manufacturer except Tesla(a recent study found that Tesla’s were 40% less likely to crash than other cars). However Ford won just 33% of their cases compared to General Motors, America’s most sued auto manufacturer that has more than 14 times Ford’s litigation, but achieved an impressive 93% win rate. BMW was the top litigation performer, winning all 9 of their cases in the study, also at the fastest pace, just 47 days, comparing nicely to the leisurely 567 days that Toyota usually took to close their cases.
Choice of Counsel affects 30.7% of the average case outcome
Nathan Huber, Director of Business Development, Premonition
Premonition is the world’s largest litigation database and a leader in the field of legal analytics. The company claims to know which lawyers are strong performers in front of which Judges. According to their website, this gives their corporate clients “A very, very unfair advantage in litigation”.
“There are great discrepancies within industries of how General Counsel are performing in their litigation.”, Premonition Co-Founder Toby Unwin explains. “We found that this is even reflected in a company’s stock market performance. A basket of litigation winners nearly always outperforms a basket of losers. The effect is quite pronounced and can be tracked several months in advance.” Unwin claims that changing counsel can have a significant effect on litigation performance if the track record of lawyers before the relevant judges is closely examined.
The report is the first time that litigation win rates of companies have been published for comparison. In the near future, Premonition plans to release their findings on top litigants in other industries along with their win rates.
“Choice of Counsel affects 30.7% of the average case outcome”, claims Premonition Business Development Director, Nathan Huber. “Analytics allows companies to deploy their litigation resources most effectively, putting the right lawyer in front of the right Judge. It’s the opportunity to turn a 50/50 litigation portfolio into an 80/20 one.”
