Three dead, two hospitalized, following collision in Fredericton: police
Three people have died and two have been hospitalized after a speeding car struck a tree and landed on another vehicle in Fredericton Sunday morning.
If you were smart enough to sell your car during the pandemic you are to be applauded. Cars tend to lose value over time and new cars are the worst. The minute you drive a car off the lot it goes from new to used – a phenomenon often referred to as the new car hit. Most of us shrug this off with the excitement, trumping financial common sense.
The pandemic proved, for many, the luxury of owning a car, only to have it depreciate by the day as it sat idle due to work from home mandates, lockdowns and restrictions. At the time, selling it likely seemed a smart money saving move.
Now, however, with demand picking up and prices surging, you might be wondering if you made the right decision to sell when you did?
I would argue you did make the right decision.
However, you are to be forgiven if now there is a slight panic creeping into your thought. If back to work orders are put into place in the fall and your preferred mode of transportation is gone, what are you going to do?
Before you decide to rush out and replace your vehicle – pause, breathe and evaluate your situation.
At the best of times, buying a new car isn't always the best money move, and, in an ironic sort of way, the pandemic brought this to the attention of many. So, I would hit the pause button on a car purchase for now and here's why:
Cars have often been referred to as a mobile money pit and for good reason. Expenses associated with car ownership can be more of a financial drain than you realized. From the purchase price, to insurance and let's not forget gas.
I get it.
Driving the car off the lot is an amazing high and picking up friends and family can seem like a nice thing to do. And it is. But not always at your expense.
So once again I reiterate, selling your car during the pandemic may have been one of the best money moves you made this year and buying it back could prove to be one of the worst – especially if you have to borrow money to buy a new car.
Proceed with caution. If you absolutely have to consider a car, buy used. Borrowing money to buy an asset that drops about 30% the minute you drive it off the lot never makes financial sense, especially if you are already scrambling to make ends meet.
Three people have died and two have been hospitalized after a speeding car struck a tree and landed on another vehicle in Fredericton Sunday morning.
Amid scientists' warnings that nations need to transition away from fossil fuels to limit climate change, Canadians are still lukewarm on electric vehicles, according to a study conducted by Nanos Research for CTV News.
A Montreal man is warning Tesla drivers about using the Smart Summon feature after his vehicle hit another in a parking lot.
Madonna put on a free concert on Copacabana beach Saturday night, turning Rio de Janeiro's vast stretch of sand into an enormous dance floor teeming with a multitude of her fans.
One person was killed and 23 others were injured when a bus crashed early Sunday on Interstate 95 in northern Maryland, police said.
The Maple Leafs battled back from a 3-1 series deficit against the Boston Bruins with consecutive 2-1 victories - including one that required extra time - in their first-round playoff series to push the club's Original Six rival to the limit before suffering a devastating Game 7 overtime loss.
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
Eighty-two-year-old Susan Neufeldt and 90-year-old Ulrich Richter are no spring chickens, but their love blossomed over the weekend with their wedding at Pine View Manor just outside of Rosthern.
A mother goose and her goslings caused a bit of a traffic jam on a busy stretch of the Trans-Canada Highway near Vancouver Saturday.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.