Quote:
Originally Posted by Architype
That price is skewed towards newer vehicles, likely those just one or two years old. Also, AFAIK, in BC (maybe not other provinces) vehicles do not require any inspection. Air care emissions tests, and safety tests, were done away with years ago. Used vehicles purchased outside the province do need inspection though. Like many other things, our vehicle regulations are not very consistent across Canada.
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I'm really struggling to figure out what point you're making here. That vehicle likely has bald tires, worn out breaks, and a battery that'll die the first time you stop at the gas station. A safety inspection is a common cash grab from a dealership but also a potential liability, even in provinces that don't require it. If they're refusing to do it, its because they know it wont pass the inspection.
The CPI has generally underestimated the inflation rate for poorer and younger Canadians, who don't benefit from owning large assets whose disposition keeps the cost of living affordable even when actual prices have gone up far more than the interest rate. This is particularly relevant with an increasingly aging population.
For example, a middle-aged Canadian that owns a car might balk at a new car for $50k that was previously going for $40k until they realize used cars have also gone up and price. If their trade in is $30k now instead of 25k, the cost of acquisition would be only $5k more (20k vs 15k). A bit of an aside, but until 2022, the CPI didn't even track the price of used cars and simply pegged their calculations to new car prices. Anyways, this person would also have access to cheaper financing, which would keep the cost low. This is more relevant now as car prices have gone higher and fewer cars are bought with cash.
A poorer or younger Canadian would not have the benefit of having a trade-in to offset the rise in prices, and likely would also not have access to the super low interest rates.
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