While getting to your destination can be exciting, the actual act of flying is often more draining than anything.
According to Skyscanner’s latest survey, Canadians say that flight delays and long lines at airport security are the worst aspects of air travel for Canadians, landing at 57% and 46%, respectively. Rounding out the top three is losing one’s luggage at 41%.
That being said, most travelers plan to arrive early and people watch at the airport, but arriving early may not mean much in terms of delays if you have a later flight.
“Flights departing in the morning have the lowest chance of delays as they are less likely to be affected by any scheduling issues but may be more expensive as they’re often the most popular,” Skyscanner travel expert Laura Lindsay said in a statement.
More downsides of flying according to Canadians
The rest of the list of reasons for Canadians’ flying disdain starts with their dislike of hazardous road conditions thanks to poor winter weather (37%). Next is losing something while traveling (31%), packing (23%), the trouble of finding accommodations as a solo traveler or couple (15%), finding a parking spot at the airport (12%) and booking a rental car (9%). Last on the list is finding a kid-friendly accommodation (6%).
Knowing this, Canadians’ try to be proactive when travelling by using the following strategies:
Arrive hours early and people-watch
Find the nearest airport lounge and relax
Avoid airports altogether and drive
Speed through security like a pro
Top winter and 2025 travel destinations
Despite the many deterrents of flying, Canadians are still dedicated to traveling in the winter.
An earlier survey of 2,000 travelers released by Skyscanner revealed the top 10 travel destinations and their average economy class flight prices for Canadians this winter. Unsurprisingly, Florida remains at the top.
Fort Myers, USA: $282.20
Fort Lauderdale, USA: $358.70
Nassau, Bahamas: $487.90
Cancun: $562.70
Las Vegas: $374.00
New York City: $397.80
Orlando: $399.50
L.A.: $402.90
Pointe-a-Pitre, Guadeloupe: $683.40
Paris: $1,011.50
While 37% of Canadians are expecting to have remaining paid time off at the end of 2024, the primary reasons for travel for the rest of the year are vacation and leisure (61%), visiting family and friends (28%) and using their remaining paid time off (7%).
There are many types of useful savings accounts out there, but not every one has their exact purpose right there in the name, like the First Home Savings Account (FHSA).
BMO’s 15th annual Investment Survey reveals 56% of potential first-time homebuyers are planning to use the FHSA to help purchase their first home, slightly up from 52% from 2023. And, with young homebuyers often turning to the Bank of Mom and Dad for help, 23% of parents are expected to use the FHSA to help their children save for a home.
"It is encouraging to see that over half of prospective buyers plan to use the FHSA to save, Nicole Ow, BMO’s vice-president and head of retail investments, said in a statement.
“And we want to see that number grow because the FHSA is such a powerful tool. Benefits including the ability to make tax-deductible contributions, tax-free growth of the investments and the ability to hold various investment types make this plan the most advantageous way to save for a home. It is like an RRSP and TFSA rolled into one for first-time homebuyers."
"For most, buying their first home will be part of a multi-year plan, involving several savings vehicles like the FHSA, RRSP withdrawals through the Home Buyers Plan, and may also involve multiple generations, with parents and grandparents contributing financially."
Millennial parents are the most likely to help their children via an FHSA at 42%, compared to 21% of Gen Z parents and 7% of Boomer parents.
FHSA as a tool for home buying
FHSA contributions are tax-deductible, earnings are tax-sheltered, and withdrawals are tax-free when used towards qualified first-time home purchases. First time home buyers can contribute up to $8,000 a year and that yearly contribution limit can be carried forward, with a lifetime contribution limit of $40,000.
The FHSA knowledge gap is narrowing, with two fifths (40%) of Canadians indicating they have at least some knowledge of the account, up from 31% from last year.
As well, nearly half (48%) of Gen Z are knowledgeable about the FHSA’s features and benefits – the highest among any age group.
Impact of relaxed mortgage rules
First-time homebuyers were also asked how the new relaxed mortgage rules would influence their ability to purchase a home. Over a third (36%) responded that they expect the new rules will make it easier to make a purchase. The new rules allow for amortizations of up to 30 years for first-time homebuyers and on any new construction purchase, as well as an increase in the maximum amount for an insured mortgage rising to $1.5 million from $1 million.
Even though mortgage rates have generally fallen over the past year, just 36% of prospective homebuyers believe the changes in mortgage rates will make it more likely that they will purchase a home in the next two years. And 39% have concerns that changes in mortgage rates will make it less likely they will be able to purchase a home.
Survey methodology
This study was conducted by Pollara with an online sample of 1,500 adult Canadians aged 18 years and above from November 8 to 18.
Settling into a new life in Canada can be stressful. Besides the drive for citizenship, there’s also new, and sometimes unexpected, financial pressures.
Building good credit is one of the best ways to get access to Canada’s banking infrastructure, but you’re not just limited to this traditional system. Services like peer to peer lending or micro loans are another option.
This article will dive into some of the best loans for immigrants in Canada, depending on your credit situation.
Can you get a loan as an immigrant in Canada?
Long story short: Yes! There are plenty of loans for immigrants in Canada, but if you want to do it right, it’ll take a little bit of time.
Anyone with a credit history with one of Canada’s two credit bureaus (Equifax and TransUnion) can qualify for a loan. To be clear, your credit score from your country of origin doesn’t follow you to Canada. You need to build a new one here.
This process takes at minimum three months of using a credit card and making payments. However, most banks like to see six months, if not a year, of payments.
Many of the best loans are also exclusively for permanent residents.
With that being said, there are some loans specifically designed for new immigrants, typically refugees, without an in-country credit score. These programs are typically provided by the government.
These loans are intended to help refugees fleeing political persecution and economic or environmental collapse find a home in Canada. The ILP covers three areas:
Transportation loans to help get to Canada
Right of permanent residence fee (RPRF) loans
Assistance loans
Assistance loans are especially important as they can apply to new Canadians seeking permanent residency, not just refugees. Eligible applicants can apply for help with basic needs like rent, utilities and food as well as employment tools or training.
But if you need assistance now there are other non-government options available in the short term.
Types of loans for immigrants in Canada
There are a few other types of loans available for immigrants in Canada beside those offered by the government.
Our top pick, and by far the best option, is Windmill Mircolending. Windmill aims to empower new immigrants to Canada through low-interest loans exclusively designed for skilled immigrants and refugees. Highlights include:
For those who need cash now, peer to peer lending is another option. Peer to peer lending allows new immigrants to crowd source money for a loan through services like:
Keep in mind that although the requirements for peer to peer lending are lower, you still need to show a bit of credit history. For more on peer to peer lending, check out our breakdown of peer to peer lending in Canada.
Although payday loans are legal in Canada, they typically have sky-high interest rates, hidden fees and more.
How to get a loan as an immigrant: Credit building products
Beyond peer to peer lending, your only major option is to build credit to access bank loans through secured credit cards.
Most banks won’t give you a loan without a credit score of at least 660 (out of 900). What’s more, banks can be reluctant to give you a credit card without at least a bit of credit history.
This is where secured credit cards come into play.
These credit cards usually have their credit limit set based on a deposit you make when you activate the card. Many banks offer secured credit cards.
You can also look at purpose built credit building products. These are services that let you take out a loan for the express purpose of paying it down. Two options are:
Credit-building products like these are specifically designed to generate a reliable credit payment history.
Typically they let you take out a small amount of money, which you then pay installments towards. During this time, you don’t actually have access to the loan.
As long as you make your payments, your credit score will go up and without the temptation of actually spending any of the money itself.
Conclusion
There are plenty of options for new immigrants to build a life in Canada. However, the best bet by far is to slowly and steadily improve your credit score.
In the meantime, we strongly recommend using a combination of secured credit cards, KOHO’s credit building tool and perhaps even a Windmill Microloan to get a leg up.
FAQs
Can I qualify for a bank loan in Canada?
As we’ve discussed above, getting a bank loan in Canada as an immigrant relies heavily on a combination of your credit score and applying for the right kind of loan.
To check if you qualify for a bank loan it’s important to have the right information on hand. Before approaching a bank make sure to have on hand:
Information on the nature of the loan (e.g. buying a new car)
Personal details including legal name and birth date
Employment and income information
Co-signor details
Assets
Liabilities
Having all this information readily on hand can smooth out the process. The easier you make things for your lender of choice, the faster you can get an answer about a prospective loan.
What’s a good credit score for an immigrant?
Keep in mind that it takes time to build a good credit score. Banks and lenders want to see that you can reliably make payments so they’re guaranteed to get their money back, plus interest.
It takes three months of activity to create a baseline for a credit score. However, you likely won’t be taken seriously until at least six months, but ideally a year, have passed.
We strongly recommend trying to build your credit score naturally over your first year in Canada. Shoot for a score of 660 if possible.
How do I build credit?
Simply put, building credit comes from paying your bills on time with minimum interest generation.
At the end of the month you have something called a credit utilization rate. This represents how much of your available credit you’ve used. For example, a credit utilization rate of 20% on a card maximum of $2,500 means you have no more than $500 on your card at the end of the month.
Banks typically like to see a credit utilization rate of between 2% and 10%.
Keeping your credit utilization rate in this window is one of the best ways to start increasing your credit score.
How do credit scores in Canada work?
In Canada, credit scores start at 300 and go up to 900. A higher credit score means that you’re a reliable candidate for a loan.
Excellent (800-900)
Very Good (722-799)
Good (650-719)
Fair (600-649)
Poor (300-599)
Ideally, you want to have a credit score of between 720 and 900. This is the range where you get lower interest rates from lenders.
People with lower credit scores are charged more interest because banks are worried you may default, which means they want more money on interest to compensate.
Whether it’s for home, business, or personal reasons, most Canadians will take out a loan during their lifetime.
But traditional loans aren’t the only option for Canadians trying to achieve their dreams. Borrowers who don’t qualify for traditional loans can use peer to peer services to get money together or consolidate loans. Meanwhile, investors with high risk tolerance can earn a higher rate of return than a savings account or bond.
Here at Money.ca, our top pick for Canadians looking to get into peer to peer lending is goPeer. Services like goPeer are government approved and classified as an Exempt Market Dealer.
Exempt Market Dealers are able to sell securities without a prospectus. This means users waive certain rights by using the service.
If you’re looking at peer to peer services outside of those on this list make sure to check before you invest.
What is peer to peer lending?
Peer to peer lending is a lot like using Kickstarter or GoFundMe, but you’re getting together a loan through registered lenders instead of donations.
The lender make-up can vary depending on the platform. Sometimes you’ll have a couple of lenders. Other times you’ll have droves.
Peer to peer lenders in Canada
In Canada, peer to peer lending through an online platform is entirely legal.
Some of the most common platforms for peer to peer lending in Canada are:
Overall, the Canadian peer to peer lending marketplace is much smaller than in the United States. There are only a few peer to peer lending services available in-country.
PeerBerry is a good option for Canadians living abroad who are interested in peer to peer lending.
How to take out a peer to peer loan in Canada
Taking out a peer to peer loan in Canada starts with you and your internet browser.
Unlike traditional loans, you’ll be borrowing from groups of certified lenders through an online portal. Depending on the P2P service the lender make-up can be different, ranging from a group to one highly solvent individual.
The general process is:
Create an account, enter your info and apply for a loan
Wait for the platform to approve your account
Get assigned an interest rate based on your credit score
Wait to receive loan offers
Select offers and receive your loan
Enter the repayment phase
Once financed, you need to repay your loan with interest through your peer to peer lending platform of choice. If you get cold feet, you can usually cancel your peer to peer loan provided it’s less than 50% funded, but make sure to check the terms and conditions
Types of peer to peer loans
Peer to peer loans closely follow standard loan classifications.
You can get personal loans (unsecured and secured), business loans, car loans and sometimes consolidate debt. Home improvements are another common type of peer to peer loan in Canada.
The most common metric for peer to peer loans is the raw amount being borrowed. For example, goPeer will loan up to $35,000 at interest rates starting at 8.99%. Although peer to peer lending services typically have a lower barrier of entry you still need to have a bit of a footprint.
For example, goPeer requires:
A credit score of 600
Annual income of at least $35,000
A debt-to-income ratio of less than 35%
At least 3-trades on your credit file
Meanwhile, marketplaces like r/borrow are significantly less regulated. Make sure to do your due diligence before digging in.
Pros and cons of peer to peer loans for borrowers
The biggest advantage for borrowers is ease of access. Let’s take a closer look:
Pros
Quick and easy application process
Competitive interest rates with traditional loans
Lower barrier of entry for those with middling credit scores
No fees for early repayment
Cons
Additional fees from the peer to peer platform for matching you with lenders
Won’t save you if you have bad credit
Can be slower than pay day loans
Difficult to sue due to waiving regulatory protections
The biggest risk for borrowers is that you may end up getting worse rates than a traditional lending model if you don’t do your research. Make sure to crunch the numbers by looking at loan rates with banks, and watch out for origination fees (i.e. a one-time payment made when you take out a loan).
Peer to peer lending: How it works for investors
Investors in peer to peer lending aim to get higher returns on their money when compared to using a savings account or other low-yield returns.
To get started:
Make an account on your peer to peer lending platform of choice
Deposit funds to lend
Select borrowers from an online marketplace (good peer to peer lenders include plenty of information about borrowers including credit scores, repayment history, etc)
Choose to invest in a given loan (you don’t have to cover the entire thing yourself)
Earn interest on every repayment made by a borrower
Pros and cons of peer to peer lending for investors
The biggest risk for investors is that you’re the one taking on almost all the financial risk, not a bank or deposit insurance corporation.
Pros
Easy account creation and linking
Requires a low minimum investment
Higher interest rate return than other low-yield investments
Allows for portfolio diversification
Cons
Borrowers can default
In the event of a default you need to rely on the peer to peer lending marketplace not a regulator
Interest rate fluctuations can impact your returns
Peer to peer lending platforms usually charge fees both during individual repayments and when the principal is repaid in full
Investors should keep in mind that peer to peer lending is a high-risk enterprise that may not be worth the stress of a defaulted payment.
Conclusion
Overall, peer to peer lending is a great extra option for Canadian borrowers and investors, but needs to be treated with caution.
Finally, check out our FAQs below to put to rest any lingering questions.
FAQs:
Is peer to peer lending a thing in Canada?
Peer to peer lending is a provincially regulated industry in Canada.
However, the peer to peer lending ecosystem in Canada is significantly smaller than elsewhere in the world. Canada only has a handful of peer to peer lending services. This is one of the reasons we mentioned PeerBerry as an international option for Canadians living abroad.
Is P2P a good investment?
The benefits of peer to peer lending vary depending on your goals.
For borrowers, P2P lending can allow for you to borrow money in situations where a bank might normally turn you down. Meanwhile, lenders can collect higher interest rates, but assume more risk in the event that a borrower defaults.
How much can you make with P2P lending?
To be clear, peer to peer lending is a higher risk option compared to traditional savings and bonds.
However, in some cases you can see higher returns than average. Peer to peer loans generally return between 5% and 9% per year.
It’s also important to remember that Canada’s market for peer to peer lending is less crowded than the US or Europe.
Is peer to peer lending safe?
In a regulatory sense peer to peer lending is absolutely safe from a legal standpoint.
Mastercard is a well-known payment method that was established in 1966 and is used by many casino players around the globe. If you are looking for the best Mastercard Casino sites, then you have come to the right page. This article covers everything you need to know about Mastercard, such as how to open an account, how to deposit, how to withdraw, reasons to choose Mastercard sites, pros and cons, as well as frequently asked questions. Our specialist team of experts has also provided some of the best online casino sites that accept Mastercard for you to check out. Keep reading to find out more.
Jackpot City Casino is one of the best online casino sites that is full of a wide array of online casino games from top software providers such as; Netent, Microgaming, Red Tiger, Evolution Gaming, Pragmatic Play, and so many more! The site was established in 1998 and is licenced by the Malta Gaming Authority, ensuring customers that the site is safe, secure and regulated. Be sure to check out Jackpot City and see what amazing bonuses and promotions are up for grabs!
In 2021, this relatively new online casino site was established. With licencing and regulation from Curacao. Providing all bettors with a safe and seamless gambling experience. Dolly Casino has over 4000 casino games, bonuses, promotions, software providers and various payment options. Dolly Casino has so much to offer all customers, regardless of their experience level. Do not miss out; be sure to sign up for an account at Dolly Casino to take advantage of all the fantastic promotions that are available!
This Mastercard casino site was established in 2013, offering players a wide range of online casino games such as; slots, roulette, video poker, bingo, jackpot games and more! TonyBet also provides a safe and fair gambling experience for both new and experienced customers. To make it even better, all of these features are also available via the TonyBet mobile app, which is accessible on both iOS and Android. There’s no better way to bet. Check out Tony Bet through the link above.
If you’re looking for a site with an array of online casino games, all from some of the best online casino software providers, along with fantastic bonuses and promotions. Then Casino Tropez is the one for you! This site was established in 2001 and is licenced by the Malta Gaming Authority, ensuring customers a safe and fair gambling experience. The site is currently promoting an amazing welcome offer to all new customers who sign up and create an account. Use the link on this page to check it out.
Powerplay Casino is a well-known online casino site not only in Canada but around the globe. The site was founded in 2018 and has licencing and regulation from Curacao Interactive, ensuring customers can trust this amazing online casino site. Powerplay Casino also has an outstanding variety of games, promotions, bonuses, payment methods, customer support and more! So do not miss out; use the link on this page to check out Powerplay Casino and its welcome offer currently up for grabs today!
This Mastercard Casino has so much to offer all bettors, whether experienced or non-experienced, with a wide range of games for players to enjoy, along with many casino bonuses and promotions, all while on an easy-to-use site making players’ overall gambling experience stressfree and enjoyable. BC Game was established in 2017 and has licencing and regulations from Curacao, making it a trusted site. Use the link above to test out this fantastic site and take advantage of the site’s current welcome offer!
Spin is a well-known Mastercard casino that has so much to offer! The site is full of the best casino games from top software providers such as Netent, Microgaming, Evolution Gaming, IGT and more! The site was established in 2017 and is licenced by the Ontario Gaming Commission, ensuring customers that the site is safe and secure. Why not check it out? Head over to Spin Casino via the link. If you are a new customer, then check out the fantastic welcome offer that is up for grabs.
Spin Casino features on our expert list of the best mobile casinos in Canada, and if you are interested in finding out which other brands appeared on this list of top mobile casinos in Canada, you can do so by following this link: Best Mobile Casinos in Canada
This amazing casino site was established in 2013, with licencing and regulation from Curacao. So players can rest assured that the site is trusted and all personal information is secure. ICE Casino has a vast library of popular casino games that are fit for all levels, whether you are an experienced player or a novice player, with a wide range of bonuses and promotions to enjoy, as well as smooth and trustworthy payment transactions. Use the link above to head over to ICE Casino and open an account today!
Brilliant bonuses, promotions, secure payment methods, helpful customer support, and fantastic casino games on an easy-to-use site are all features users can enjoy at iWild Casino. So if these are all the key features you are looking for, then this casino is the right site for you. iWild was established in 2023 and has pulled through with some fantastic features. Curacao licences the site, so players can rest assured that it is safe and regulated and trust that all of their personal information is safe.
LeoVegas is another well-known Mastercard casino site that is loved by many players around the globe. Established in 2012 and licenced by the UK Gambling Commission, it assures customers that it has experience in the gambling world and that it is a site that can be trusted. LeoVegas has an extensive library of popular casino games, payment methods, bonuses and promotions, and an excellent mobile app that is available on both IOS and Android! What are you waiting for? Open an account with LeoVegas and start taking advantage of the welcome offer today.
Jokersino is a relatively new online casino site that was established in 2023 and has good licencing from Curacao. This site accepts Mastercard as well as many other forms of payment methods, which makes withdrawing and depositing stress-free and fast. Even though Jokersino has not been around all that long, it still has so much to offer; the site has over 4,000 online casino games, such as slots, bingo, live dealer games and many other popular games for bettors to enjoy. Jokersino also has some fantastic bonuses and promotions that you should have a look at. Why not open an account with Jokersino Casino today?
Pros ✅
Cons ❌
Wide range of casino games
Customer support is not 24/7
Many payment methods are accepted
Limited countries
amazing bonuses and promotions
Accepts Mastercard
Mastercard: An Introduction
Mastercard is a widely used online casino payment method that has been around for many years; it was established in 1966. Offers its customers credit, debit, and prepaid cards, all of which provide fast and secure transactions. Mastercard allows users to deposit and withdraw at their favourite online casino sites. Many key features make Mastercard stand out from other online casino payment methods, such as ease of use, smooth processes, fast transactions, mobile compatibility, and so much more. If this is what you are looking for, be sure to check out some of the best Mastercard-accepting casino sites that our team of experts has suggested above.
How to Deposit Using Mastercard
When it comes to depositing using Mastercard, it is a fast and straightforward process. However, it can sometimes be confusing or stressful, so for an extra helping hand, our team of experts has created an easy-to-follow step-by-step guide below:
Step 1: Sign up and log in to the online Mastercard casino site of your choice.
Step 2: Locate the deposit section.
Step 3: Choose Mastercard as your preferred payment method.
Step 4: Select how much you want to deposit.
Step 5: Make sure everything is correct and confirm the transaction.
Step 6: Endulge in all of your favourite online casino games.
Please note verification may be needed. Be sure to check for deposit limits and welcome offers before making any financial commitments.
How to Withdraw Using Mastercard
Withdrawing at some sites can be slow and stressful; this is not the case with Mastercard casino sites. Withdrawing at a Mastercard casino can be made a fast and easy process if you follow our expert step-by-step guide below:
Step 1: Log in to your casino account.
Step 2: Navigate the withdrawal section of the site.
Step 3: Select Mastercard as your preferred withdrawal payment method.
Step 4: Select how much you would like to withdraw.
Step 5: Make sure everything is correct and confirm the transaction.
Step 6: Your withdrawal amount will be processed into your account as soon as possible.
Be sure to check out the terms and conditions before making any commitments, as the casino site may have withdrawal limits or wagering requirements.
Reasons to Choose Mastercard
Mastercard is a modern online casino payment method; this is because there are so many positive features. Keep reading to find out more about these amazing features below.
Safe and Secure
This fantastic payment method follows many safety protocols that are put in place to ensure security for customers’ transactions and financial information, as well as to prevent any kind of fraud. For example, fraud monitoring, encryption, tokenization and more. While all of this is amazing, it is still crucial that you keep all of your personal information, such as passwords and usernames, safe. This will add an extra layer of protection for your financial details.
Easy to Use
Mastercard is known for being easy to use when it comes to online casino sites. This is due to the fast and straightforward deposit and withdrawal processes. Why not try it out for yourself? Sign up and open an account with a Mastercard casino today to make your overall casino experience more enjoyable and stress-free.
Widely Accessible
This payment method is accepted at many online casino sites around the globe because of the broad acceptance of many different currencies and the convenience of the payment method. So all casino players around to globe can indulge in the use of Mastercard. Be sure to check it out via the link above.
Mobile Compatible
What makes Mastercard so convenient is its mobile compatibility! Players can play all of their favourite online casino games and make deposits as well as withdrawals with the Mastercrads mobile app. All from the comfort of their own home or on the go! Find a Mastercard casino site and try it out for yourself today.
Fast and Convenient
The fantastic features above are what make Mastercard casinos so fast and convenient. With suitable security measures and quick transactions, more online casino sites are beginning to accept Mastercard as a payment method. Overall, it makes Mastercard a go-to payment method for many players when playing their favourite casino games.
Limitations of Using Mastercard
While there are many positives of using Mastercard-accepting casino sites, there are also some points that customers may see as negatives. For example, there may be restricted availability as some online casino sites do not accept Mastercards. However, we have found some of the best online casino sites that accept Mastercard above. Be sure to check them out!
Mastercard Pros and Cons
Pros ✅
Cons ❌
Secure transactions
Potential fees
Wide acceptance
Restricted countries
Fast deposits
Easy withdrawals
Accessibility
Is Mastercard Safe and Secure?
In Canada and around the world, Mastercard is a reputable, well-known form of payment. Due to the company’s extensive security checks and fraud monitoring, customers are assured that payments are safe and secure. Although Mastercard is trusted and undergoes strict protocols, it’s still important for users to keep any personal information safe, such as passwords and usernames; this will provide extra protection.
Mastercard Mobile Casinos
With technology evolving rapidly, many online casino sites have made mobile casino apps that allow customers to play all of their favourite casino games from the comfort of their own homes or, even better, on the go! To make it even more convenient, Mastercard is also compatible with mobile, resulting in customers now being able to make fast and secure deposits and withdrawals on the go. Why not give it a go? Make deposits and play all of your favourite casino games anytime and anywhere!
Mastercard Fees
It is always advised to check out the terms and conditions before signing up and opening an account, as there are a few key points to look out for, such as fees. There are many different types of fees to look out for, for example, annual fees, foreign transactions, late payment fees, conversion fees and many more. By scanning over the terms and conditions, you will be aware of what to expect and could prevent any potential disappointment that could have been caused.
Alternative Payment Methods
While Mastercard is a very common payment method, there are a lot of other payment options accessible at a wide variety of online casinos that you should check out. E-wallets such as PayPal, Skrill, and Neteller are one example. Mobile wallets like Samsung Pay, Google Pay, and Apple Pay. Additionally, there are ways to pay with digital currencies or cryptocurrencies like Bitcoin. There are numerous payment options available; all you need to do is select the one that best suits your needs.
Our team of experts have spent time researching which casinos allow deposits and withdrawals from all of the payment methods mentioned here. Whilst Mastercard is arguably the most popular payment method for Canadian players, this is closely followed by Neteller. If you want to know which of the best online casinos in Canada accept payments from Neteller, you can do so by following this link: Best Neteller Casinos Canada – Top CA Casinos Accepting Neteller.
Frequently Asked Questions (FAQs)
What online casino accepts Mastercard?
The list of casinos we have available here all include MasterCard as a payment method. For more information click here!
Can I use Mastercard for gambling?
Yes, MasterCard is widely used for online banking. You can make a deposit and withdraw from any one of the casinos that accept MasterCard here today. Check it out!
Is Mastercard safe to use?
In the event of an unexpected transaction, Mastercard’s fraud prevention security system will protect customer information and money.
What is the best Mastercard casino?
It is entirely up to you to decide which is ideal for you and what you want. We have compiled a list of the top online casinos that currently take Mastercard to make your search easier. To learn more, click on the link above.
Is it legal to use Mastercard at online casinos?
Yes! The website will be licenced to ensure the legitimacy of the casino you are playing at. The license also guarantees the safety of your money and information, find out more information here today!
Can I withdraw using Mastercard?
As long as the online casino you are playing at takes Mastercard as a payment, then withdrawals should be offered too. Before you register, always check the website terms and conditions to avoid getting let down if your payment method is unavailable. Click here for more information.
Summary
In conclusion, Mastercard provides online casinos with fast, secure and safe transactions. Making it possible for players to make deposits and withdrawals from some of the most popular online casino games. Do not pass this up; make sure to check out the amazing Mastercard-accepting casino websites we have highlighted above.
DISCLAIMER: We would like to emphasize that gambling is risky and should not be used to resolve financial difficulties. The saying “the house always wins” is worth keeping in mind. If you or someone you know has a gambling problem, we firmly advise you to call Gamblers Anonymous at 1-626-960-3500 to speak with an expert about getting assistance and making gambling safer for you or your friends and loved ones. Remember that all gaming websites and instructions are intended for people aged 19 and above.
Some of the casino sites featured on our site may not be available in your location. Check your local regulations to see if Internet gambling is permitted in your area. Check out the following organizations for free gambling addiction resources:
If you’re looking for an investment vehicle that generates solid short-term returns without the volatility of growth stocks, private lending may be for you.
Becoming a private lender is not as complex as it might seem. All you really need is a comfortable amount of underutilized capital, a risk tolerance higher than zero and access to a good real estate lawyer — because you’re going to be targeting real estate investors and funding their projects.
Why real estate?
Experts say there are two reasons why private lenders tend to focus on real estate.
First, from flippers who need money for renos to commercial investors in search of bridge loans, there is reliable, consistent demand for cash from the real estate sector. While larger developers and builders generally have lines of credit set up to cover these costs, smaller operations will seek cash in the private market.
The short-term nature of these investors’ projects means you can charge comparable interest rates to what they would likely be offered by mainstream lenders. In Canada, an interest rate of 10% or more on private deals isn’t unheard of, according to real estate experts, although 7 to 10% is more common.
Second, because your loans will be secured with your borrowers’ real estate assets, the collateral involved will generally be worth far more than the amount you’ll be lending. That helps keep your risk in check.
What you need to know as a first-time private lender
As a private lender, your returns come in many forms. There’s the interest, of course, but some lenders also charge exit fees or “points” — fees that are paid by borrowers in exchange for lower interest rates. Some lenders opt for a profit split on the projects they help complete, but experts say those deals carry more risk because of the uncertainty involved with budgets, timelines and putting a finished project on the open market.
Build relationships
Finding borrowers can be a challenge for first-time private lenders. You’ll need to get your name out there, so putting some work into your social media feeds is a smart move. Joining a local real estate investment group or two will help you meet investors who are actively looking for cash. You can also strike up relationships with mortgage brokers who specialize in private lending.
But you won’t get far in the private lending business without an experienced, qualified real estate lawyer in your corner to negotiate your deals and review the contracts, experts say. A good real estate lawyer can also be a reliable source of leads.
Start small
As simple as private lending sounds — and it often results in surprisingly frictionless transactions — there are always risks involved. A good strategy for your first deal is to start small and keep it local. Meet with the builders and developers you’ll work with face to face and have them tell you about their projects.
Work closely with your lawyer to get a successful deal under your belt. Doing those things will give you a clearer idea of how much risk you’re comfortable with, and how much you might stand to gain.
Whether you’re struggling to keep up with the high cost of living, feeling burnt out at work or dealing with other internal pressures, the sting of mental exhaustion for working Canadians is reaching perplexing new heights.
In fact, TELUS’ Mental Health Index report shows mental health challenges intensifying across all sectors and regions. Specifically, it states that financial stress is significantly impacting productivity for 23% of workers.
"This is the most significant decline in TELUS Mental Health Index scores since April 2020, with financial wellbeing experiencing the most notable downturn," Paula Allen, TELUS Health’s global leader of research and insights, said in a statement.
"Every measured aspect of mental health showed a decline, particularly in the proportion of individuals with emergency savings. As we approach a season of increased spending and social expectations, many are feeling the strain of current economic pressures."
The lower productivity particularly applies to younger workers and parents.
The highs and lows of workers’ mental health
The proportion of workers at high mental health risk has reached a new peak, with 37% now in this category, nearly 4% higher than the annual average in the last four years.
Specifically, mental health scores have dropped to 61.3, marking a significant decline of 3.1 points and nearly two points lower than at the start of the pandemic in April 2020. The financial risk mental health sub-score observed the most significant one-month decline at 6.8 points.
Mental health scores have declined across the country. However, Saskatchewan saw the steepest decline at 8.1 points. A staggering 40% of workers frequently feel worried or anxious about their financial situation, with 48% most concerned about the cost of living and 25% about debt.
Slightly fewer than half (47%) of workers report being in a good financial position, which is nearly 10% lower than last year.
Additionally, younger workers, parents and workers without emergency savings are more likely to perceive money as a source of stress and anxiety.
Tips on getting by during the holidays
Dr. Matthew Chow, TELUS Health’s chief mental health officer, had some advice for those struggling to get by this holiday season:
Set a holiday budget and stick to it: Establish clear spending limits for gifts, entertainment and festivities and track spending
Talk about finances openly: Have honest conversations with family and friends to set realistic expectations
Use available resources: Take advantage of your company’s employee assistance program (EAP) for financial advice and support on topics such as budgeting and debt management
"This time of year often brings additional challenges and sensitivities that can deplete our resilience,” Chow said.
"Many struggle silently, feeling they shouldn’t voice their concerns during what’s supposed to be a joyful period. It’s crucial to remember that these feelings are common – you’re not alone. EAPs offer confidential, no-cost support for those who need it."
Survey methodology
TELUS’ index is based on a response scoring system that turns individual responses into point values. Higher point values are associated with better mental health and less mental health risk. Scores between zero to 49 correspond with distress levels, scores between 50 to 79 correspond with strain levels and scores between 80 to 100 correspond with optimal levels of mental health.
The data for the TELUS Health Mental Health Index was collected through an online survey in English and French from October 15 to 28 with 3,000 respondents. All respondents reside in Canada and were employed within the last six months. The data has been statistically weighted to ensure the regional and gender composition of the sample reflects this population.
Buying a home should be a happy milestone, but for more than 100 families in Richmond Hill, Ontario, the decision almost became a financial nightmare.
Based on a recent legal decision, an Ontario builder must refund more than $1.1 million in funds to 110 new construction homebuyers. Considered a hard-fought win amid a turbulent housing market, this refund is the result of an investigation by Ontario’s Home Construction Regulatory Authority (HCRA). The HCRA investigation found that the builder was in breach of contract when it demanded additional funds from current homebuyers to complete their housing purchase.
“Builders must adhere to Ontario’s Code of Ethics, and transparency is critical,” explained Wendy Moir, CEO of HCRA.
What prompted the imposed refund to more than 100 Ontario homebuyers?
In May 2022, 110 home buyers were told by their builder, GC King Bond GP Inc., that the housing project they’d bought into was at risk of collapsing if they didn’t agree to pay a higher purchase price.
At the time, the home buyers could either accept the unexpected mid-contract price increase or forfeit their contracts and their deposit money. In most situations, if a buyer forfeits their deposit there is little to no recourse to get their money back.
However, at the time of the price increase demand, GC King Bond failed to disclose to these buyers that they had the legal option to stick to their original purchase agreement contract terms.
Timeline of events: GC King Bond’s actions and HCRA’s intervention
Between 2020 and 2021: GC King Bond GP Inc. sold 110 townhouse units in Richmond Hill, Ontario, to eager homebuyers. These purchase agreements were signed without any provisions allowing for mid-contract price increases or early cancellations. At the time, buyers believed they were entering into secure and legally binding contracts.
In May 2022: GC King Bond sent a letter to these home buyers claiming that the housing project would fail unless buyers agreed to pay additional costs. This letter neglected to inform buyers that maintaining the original terms of their contracts was still a valid and legal option.
2022 to 2024: The Home Construction Regulatory Authority (HCRA), Ontario’s regulatory body overseeing homebuilders, launched an investigation into GC King Bond’s practices.
December 16, 2024: The HCRA investigation concluded that the builder had unfairly pressured buyers into agreeing to price increases that were neither stipulated in the original agreements nor legally enforceable. On December 16, 2024, the HCRA released its findings along with an order that GC King Bond return $1.1 million to homebuyers who had agreed to the price increases under duress. The builder also agreed to abandon its pursuit of an additional $5.3 million in price hikes from other purchasers who had not yet responded to the demands.
Why the builder had to repay funds
According to the HCRA, the builder’s decision to omit all the legal options available to the homebuyers violated Ontario’s Code of Ethics for builders, which mandates transparency and ethical communication with consumers.
The resolution marked a significant victory for the affected homeowners, ensuring the project could move forward and that all 110 purchasers would eventually receive their homes — as well as their overpayment. It also demonstrated the HCRA’s commitment to protecting consumers, holding builders accountable for unethical behavior, and upholding professional standards within Ontario’s homebuilding industry.
How this impacts Canadian homebuyers
For Canadian homebuyers, this case is a wake-up call. While builder misconduct can happen at any time, buyers need to know that there are resources, such as the Ontario Builder Directory and enforcement of consumer protections by the HCRA, that can help you fight back.
“This outcome sends a message,” Moir emphasized. “Builders will be held accountable.”
Summary of key actions new homebuyers can take
Verify Builder Licensing: Ensure your builder is registered and licensed.
Understand Your Warranty: Know the coverage details and claims process.
Review the Purchase Agreement: Work with a lawyer to understand your rights.
Conduct a Pre-Delivery Inspection (PDI): Document all defects or incomplete work.
Know Your Cooling-Off Rights: Particularly for new condos.
In Canada, new construction home buyers are protected by various rights and warranties that can vary depending on the province or territory where you purchase the home. To help, here’s an overview of nine key rights new homebuyers have:
#1. Warranty protection
New homes in most Canadian provinces are protected under mandatory warranty programs. These warranties ensure the home meets specific quality and construction standards. Coverage varies but typically includes:
Material and Labour Defects: Covers issues like faulty plumbing, electrical systems, or poor craftsmanship, usually for 1 to 2 years.
Major Structural Defects: Protects against failures of load-bearing elements like foundations, walls, or roofs for up to 10 years.
Defects in Workmanship and Materials for Common Areas: For condos, common areas like hallways or lobbies are also protected.
Notable Programs:
Ontario: Covered under Tarion Warranty Corporation, providing warranties for 1 to 7 years depending on the issue.
British Columbia: Homes are protected by the Homeowner Protection Act and covered by 2, 5 and 10-year warranties.
Alberta: Covered by the New Home Buyer Protection Act with mandatory warranty coverage.
Quebec: Protections fall under the La Garantie de construction résidentielle (GCR) program.
#2. Deposit protection
Buyers’ deposits are protected if the builder fails to deliver the home or goes bankrupt.
In some provinces, this is administered under a mandatory program like Tarion (Ontario) or the provincial warranty provider.
Limits on deposit protection vary. For example:
Ontario: Up to $60,000 of the deposit is protected.
BC and Alberta: Coverage depends on the insurer or the warranty provider.
#3. Right to timely delivery and compensation for delays
Buyers are entitled to a clear closing date. If construction is delayed, you may have the right to compensation or to back out of the purchase.
Programs like Tarion (Ontario) require builders to inform buyers of delays and offer financial compensation in specific circumstances.
#4. Right to pre-delivery inspection (PDI)
Buyers have the right to conduct a pre-delivery inspection before closing. This allows you to identify and document any defects, incomplete work, or damage, ensuring the builder is accountable for repairs.
#5. Builder registration and accountability
Builders must be licensed or registered under the respective provincial authority to build new homes. Homebuyers have the right to verify that the builder is registered and compliant with local laws.For example, in Ontario, builders must be registered with Tarion.
#6. Right to cancel within a cooling-off period (condo buyers)
For new condominiums, many provinces provide a cooling-off period (e.g., 10 days in Ontario and BC). During this period, buyers can cancel the purchase without penalties.
#7. Legal protection for purchase agreements
Buyers have the right to review and understand their purchase agreement, which should clearly outline:
Deposit amounts
Closing dates and extension conditions
Warranty coverage
Remedies for deficiencies or delays
It’s recommended to have a real estate lawyer review the agreement before signing.
#8. Protection against unfinished or defective work
If the builder delivers an incomplete or defective home, buyers can file claims under the mandatory warranty program. The warranty providers typically act as mediators to ensure repairs or compensation.
Tarion dispute resolution (Ontario)
In Ontario, buyers can escalate disputes with the builder to Tarion if defects are not resolved within a reasonable period.
#9. Consumer protection laws
General consumer protection laws across Canada ensure that buyers are protected against fraud, misrepresentation, or unfair practices by builders.
Bottom line
If you’re buying a new construction home, consulting a real estate lawyer and familiarizing yourself with your provincial laws will ensure you are fully protected.
For instance, the HCRA plays a critical role in protecting new construction homebuyers in Ontario. In 2023, the HCRA processed 7,141 license applications and maintained oversight of nearly 7,000 licensed builders and vendors. In addition, over 472,000 searches were conducted on their Ontario Builder Directory, a critical tool for vetting builders.
The HCRA is also responsible for investigating complaints against builders and developers. In 2023, the HCRA processed 843 complaints, with 593 targeting licensed builders and 250 addressing illegal practices. The GC King Bond investigation is an example of how the HCRA protects Ontario homebuyers.
Do you know how much you’re earning — and how much you’re spending?
If you consistently look at your bank balance and wonder where the money goes then it’s time to take charge of your funds — and that starts with making a budget.
The good news is that it doesn’t have to be scary or time-consuming. But having a budget is critical. A budget gives you a big picture of your spending and saving habits and it’s a great way to take charge of your finances. Consider a budget your one-stop document for keeping track of your income, expenses, and savings — and the start of making smarter spending (and saving) decisions.
There are several methods on how to budget your money. To help, here are five easy steps to get started on creating a budget without the feeling of being overwhelmed.
Start with your values. Values are those intangible measures of a good life. For instance, good health may be a value, as it a fulfilling career, or a place to call home. By starting with your values you’re able to understand what value you are helping to support when you spend or save your money.
In general, the most common values are health, a fulfilling career, or finding a place to call home. Other options can include spending time with family, nurturing a passion or project or fulfilling a dream, such as moving to a new country.
Once you’ve created the list, take a moment to rank each value between one to five, were five is the bottom of your priority list. For example, consider the following list:
Rating your values
Let’s say you discover that you truly value being physically healthy. It’s important to you because your family members have health issues. You want to be eating healthy and exercising regularly to stay fit. This may affect how you spend your money as you may decide to purchase a gym membership or online fitness classes.
On the flip side, you may say that having material possessions is the least important to you because you find experiences, such as travelling or trying new activities, more memorable and satisfying. Therefore, it would impact how you spend your money by making you book a Caribbean trip instead of buying new clothes.
Once you determine your top values and how it impacts the way you spend your money, this will help you later on to see if your spending habits align with your values.
Step 2: Create your financial goals
Everyone has a unique vision of what their future lifestyle will look like. Take a moment to reflect on that vision. Write down the goals you want to achieve. These could be short-term goals that you want to achieve within less than a year. A medium-term goal could span a few years. Lastly, a long-term goal would take longer than five years to accomplish. There are a variety of categories to consider, including:
Career
Education
Family
Health
Material possessions
Money
Religion
Retirement
Relationships
Travel
Ask yourself the following questions:
What do I want to save up for?
How much money do I need to attain this goal?
When do I want to achieve this?
For example, if you want to save for a new laptop, your goal could be “I need to save $110 per month for the next 12 months to save $1,320 to “achieve” buying a new laptop.” The more specific you are with the goal and the cost of that goal, the better. If you know the brand, model, colour, size and other specifications, include that in your goal. To be successful, continuously monitor your progress and adjust your goals if necessary.
Step 3: Track your income and expenses
Tracking your income and expenses is a simple exercise that takes a few minutes every day, but will quickly show you what your lifestyle is like and what areas you are spending the most on.
You can keep track of your income and expenses by using a note-taking app like Evernote. However, there are more sophisticated budgeting apps such as YNAB (You Need A Budget). Whenever you go to purchase an item, whether online or in-store, record the date, the name of the store and the amount you spent. This way, you will have a full summary of where your money comes in and where it goes out at the end of the month.
Give this a try for a few months. Most likely, this will be an eye-opening experience as you’ll learn something new about your spending patterns. For example, you may discover that you spend the most money on food, clothing and home décor. Knowing this information allows you to pinpoint those areas where your money goes and see if you need to make any adjustments. For instance, if you used to work in an office, you may have purchased business outfits. However, since many Canadians have been working at home, you may realize that you no longer need to buy such expensive outfits and can buy more affordable clothes. This means this is an opportunity to save money in this category. In turn, this gives you the option to either increase your savings or direct them into another category.
Step 4: Create a monthly budget
Now that you have a complete picture of your income and expenses, you can take this information and put it into a monthly budget. If you don’t want to start from scratch you can find free templates online, or simply write down all your expenses in one column and all your income earnings in another.
Breaking down your budget
You can easily break down your budget using a budgeting app. You want to take the time to fill this out and be as accurate as possible. The more detailed you are, the clearer picture you will get of your current financial situation. Gather all the information and fill out the budget to see if you have a surplus or shortage of cash at the end of the month.
This exercise shouldn’t take more than 30 minutes to an hour to complete. If you have a significant other, both of you can fill this out together as you will learn plenty from doing this exercise. Once you complete this spreadsheet, it will give you an in-depth perspective of how you are spending your money. This way, you can make adjustments based on the categories you may be spending too much on and find ways to trim down your spending.
Income
First, ask yourself, where does all your money come from? You will want to write all your income sources, including your employer, part-time business money, rental income, bonuses, commissions, government and/or family support. Then calculate your total income.
Expenses
Record your fixed and variable expenses. Fixed costs are things you spend on and are consistent each month. This includes your car payments, mortgage or rent, internet and phone bill and monthly subscriptions (like gym, tv, magazines). Variable expenses may include groceries, dining out, entertainment, transportation, gifts and social events. You may also have some debt to repay, such as a student loan, credit card payment, or line of credit.
Savings
How much money goes towards your savings? Put aside money for an emergency fund if you don’t already have one. Typically, personal finance experts suggest saving between three to six months’ worth of expenses. If you are experiencing an uncertain future, it is wise to bump it up to nine months to one year worth of expenses.
What other savings goals do you have? Perhaps you want to save for an annual vacation or a new laptop. A good strategy is to create a dedicated savings account for each of your savings goals.
Investments
Next, how much goes towards your investments? The most common investment vehicles would be the TFSA (Tax-Free Savings Account) and the RRSP (Registered Retirement Savings Plan). If you are a parent, you may have an RESP (Registered Education Savings Plan) set up for your children’s post-secondary education.
Calculate how much money you have left over
Finally, you’ll now be able to calculate whether you have a surplus or a shortage of money. You want to have a surplus and live below your means. If you see that you are spending more than you earn, then you will be in debt. You’ll need to find ways to tweak your spending habits, so you don’t spend more than you earn.
Here is an example of a simplified balanced budget:
Step 5: Monitor and adjust your budget
After you’ve created your budget, be sure to monitor and review it regularly and make adjustments when necessary. You may find that you need to increase your income, reduce your expenses or increase your savings. A way you can do this is by taking advantage of money-saving apps.
Alternatively, you can look at the different categories where you spend your money then see if you can find ways to shave some of these costs. For instance, you may want to negotiate a better cell phone plan with your provider or cancel some monthly subscriptions that you don’t use anymore. You may also find that you have a passion for creating artwork, baking, or freelancing, and you may decide to start your own side hustle to bring in additional income every month. Identifying where you can improve and taking small steps to boost your financial situation will help you in the long run.
Bottom line
Now that you understand the importance and benefits of budgeting, this will help you be mindful of how you spend your money. Remember, there is no shortcut to building strong financial habits. It requires patience, practice and perseverance. It’s about taking one step at a time and gradually you will see that you can feel in control of your money, be aware of your spending habits and reach your savings goals. Those small decisions you make daily will make a big difference over time. Don’t worry if you make mistakes along the way, so long as you keep trying and you don’t give up on your financial goals. With these tips in mind, you will be well on your way to developing good budgeting habits and achieving your dream lifestyle.
While there’s actually no minimum credit score to buy a car, don’t get too excited. Just because you can buy a car with no credit doesn’t mean you should.
A lower score means less favourable loan terms. And in many cases, you’ll end up paying significantly more in interest.
So, what is a good credit score when you want to buy a car?
There’s no one-size-fits-all answer, but this guide shows what to expect with different credit ranges. Then you can decide what’s "good enough" for you.
What is a good credit score to buy a car?
No matter your credit score, someone will be willing to lend you money for a car.
While some lenders may deny you based on your credit, rest assured others will be happy to give you a loan — at least for the right price.
The riskier you are as a borrower, the more interest you’ll pay. And, you’ll have to jump through more hoops to be approved.
To avoid the worst hassles, you’ll need to make yourself less risky to lenders.
Lenders start to offer better interest rates once your score breaks 600. If you don’t know your current credit score, you can check it online for free.
For the lowest rates, you should aim for a score of 725 or higher.
And, if 725 feels light-years away, take comfort in knowing most car buyers don’t quite fall into this category.
What if I have a score lower than 700?
You can still get a car loan with a score lower than 700, but there will be questions.
A lender will likely grill you about the negative marks on your credit report. This may seem intimidating, but it’s actually an opportunity to plead your case.
There are also lenders out there that are suitable for people who have lower credit scores. And Loans Canada — an online lending platform — connects you to them.
Loans Canada specializes in finding the best loan rates for people with poor credit scores, whether you’re looking for a car loan, personal loan, or even a debt consolidation loan.
You may be asked to bring in a co-signer
If you have poor credit, you can increase your odds of approval (and even get better rates) by recruiting a co-signer.
A co-signer lessens the lender’s risk — if you fail to repay your loan, your co-signer will be responsible.
Still, this can be a big favour to ask. If you screw up, you could damage the co-signer’s finances (and potentially your relationship with them).
Lastly, remember not all car dealers are created equal. Some are more accommodating than others, so if one denies you, move on to the next.
Try improving your score
Instead of using a co-signer or accepting outrageous interest rates, you’re often better off taking the time to build your credit score.
Here are some credit-boosting tips to get you started:
Use a secured credit card
Using credit cards to build a reliable payment history is one of the easiest ways to improve your credit score. The problem is, if you have poor credit, it can be difficult to be approved for a credit card in the first place.
That’s where secured credit cards come in.
They are designed to help riskier borrowers prove themselves and build credit. The catch is you’ll have to provide a security deposit that the issuer will take if you don’t pay your bills.
A car loan will also help your score
Once you are finally approved for a car loan, you can leverage it to build your score even more.
The biggest influence on your credit score is payment history. When you make your car payment on time every month, your lender will report it to the major credit bureaus (so don’t be late).
Car loans also boost your score by helping with your credit mix. If the only type of credit you currently have is credit cards (i.e. revolving credit), adding an installment loan will help improve your score.
As you continue to strengthen your credit, it may make sense to refinance your auto loan in the future when you qualify for better rates.
Waiting isn’t a bad idea
Waiting to take out an auto loan allows you to:
Hunt for better deals and discounts
Spend time building your credit score
Build up a history of on-time bill payments
Save more money for a down payment
All of these actions will help you secure a more affordable loan.
While you’re waiting, avoid applying for any other forms of credit. If hard inquiries are made on your account, your score will take a temporary hit.
Lastly, when the day comes to buy your ride, go for a used car, keep the financing term to a maximum of four years and put down as big of a down payment as possible (shoot for 25% or more).
This will minimize interest payments and help you avoid negative equity (owing more than the car is worth).
