499 –  How To Protect Yourself from Rising Car Thefts & Financial Costs

499 – How To Protect Yourself from Rising Car Thefts & Financial Costs

Author: Doug Hoyes March 23, 2024 Duration: 36:54

Did you know a car is stolen every 5 minutes across Canada? Car thefts and VIN scams are on the rise.  Michael Rothe, President and CEO of Canadian Finance & Leasing Association, joins Doug and discusses Canada's auto theft epidemic.  They explore topics such as re-vinning, the impact of stolen vehicles on insurance premiums, steps to take if you unwittingly purchase a stolen vehicle, precautions against potential car theft, and government enforcement. This discussion is essential for Canadian vehicle owners looking to stay safe and understand what actions to take in case of a car theft and how to prevent yourself from falling victim.

Timestamps:

00:00 Introduction

02:10 The latest update on car thefts in Canada

04:40 How many stolen vehicles end up departing Canada?

06:14 What is a VIN number and what is re-vinning?               

10:44 What happens if you purchase a stolen used vehicle?

12:25 What is the solution to prevent car thefts?

17:45 What measures can individuals take to defend themselves against car theft?

28:40 The cost of enforcement

33:31 Conclusion

 

Related Links:

Can You Include Your Car Loan in a Consumer Proposal? -

https://www.hoyes.com/blog/can-you-include-your-car-loan-in-a-consumer-proposal/

What Happens to a Financed or Leased Car in Bankruptcy? - https://www.hoyes.com/blog/what-happens-to-a-financed-or-leased-car-in-bankruptcy/

Should You Consolidate or Pay Bills with a Car Title Loan? -https://www.hoyes.com/blog/should-you-consolidate-or-pay-bills-with-a-car-title-loan/

How Car Loans and Car Loan Rollovers Lead to Insolvency - https://www.hoyes.com/blog/how-can-car-loans-lead-to-insolvency/

Car Thefts Have Reached Crisis Levels Across Canada.  How did we get here? -

https://macleans.ca/society/car-thefts-have-reached-crisis-levels-across-canada-how-did-we-get-here/

Michael Rothe LinkedIn - https://www.linkedin.com/in/michael-rothe/

Canadian Finance & Leasing Association - https://cfla-acfl.ca/


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

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