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CTV News
3 hours ago
- CTV News
‘I can't afford $800 a month': Ontario driver with credit issues finds car ownership too expensive
The majority of buyers have to finance their vehicle purchase and if you have a bad credit rating a car loan will cost you substantially more. The average price of a new car in Canada is now more than $66,000, according to Due to the high costs, a large majority of car buyers finance their purchase and the average loan interest rate currently sits at about seven per cent. However, a bad credit rating could leave you paying much more. 'I do need a car, I just can't afford $800 a month,' Marva Yeboah of Bolton, Ont., told CTV News. Yeboah said she bought a 2016 Mazda CX-5 three years ago, but had credit problem when she made the purchase and received her loan. Her contract shows she borrowed $40,064 for the vehicle at an interest rate of 12.64 per cent over six years. The cost of borrowing is $17,194, bringing the total cost of the loan to $57,258. 'My credit score was just below 600 so it was hard to get any loan. They approved me but it was at a high interest rate' said Yeboah. After paying almost $800 a month for the past three years, Yeboah was shocked to find out she still owes almost $30,000 for the car even though she believes it's worth less than half that amount. 'It's really, really frustrating and I just don't know what to do,' said Yeboah. A recent survey by found that even if you have good credit, the total cost of car ownership in Canada averages $1,370 a month. Shari Prymak with Car Help Canada says vehicle ownership is becoming a luxury for more and more Canadian drivers. 'The data is showing the negative equity in car loans is higher than it has ever been,' said Prymak. Car Help Canada said anyone with poor credit or who has declared bankruptcy can end up with never-ending car payments. 'The interest costs of financing ends up being incredibly high so that it drowns the car buyer in debt and they're left with a vehicle that is worth significantly less then what they originally paid for it,' explained Prymak. Tina Filion with the Credit Counselling Society said it's important to maintain a good credit rating to avoid having to take out loans with high interest lenders. 'If you miss one payment regardless of what it is it can have a real impact on your credit score, so you want to be careful with that,' said Filion. 'There is no easy way out of it. You just have to pay down the debt as quickly as you can, pay off the vehicle and just hold on to it,' said Prymak. Yeboah said she reached out to her lender to see if there are options to help reduce her payments. According to Statistics Canada, owning a vehicle takes about 15 per cent of a person's household income and is now the third largest expense after housing and food.
Globe and Mail
5 hours ago
- Globe and Mail
Where Will Navitas Semiconductor Stock Be in 3 Years?
Key Points Navitas' stock trades about 70% below its all-time high. It faces challenging macro headwinds. Its stock looks expensive relative to its growth potential. 10 stocks we like better than Navitas Semiconductor › Navitas Semiconductor (NASDAQ: NVTS), a producer of gallium nitride (GaN) and silicon carbide (SiC) chips, took its investors on a wild ride after it went public by merging with a special purpose acquisition company (SPAC) on Oct. 21, 2021. Its stock opened at $13, soared to a record high of $22.19 a month later, but sank to an all-time low of $1.52 on April 4, 2025. Like many other SPAC-backed start-ups, Navitas disappointed its investors by missing its own growth forecasts and racking up steep losses. Today, Navitas' stock trades just above $7 a share. It bounced back as its new AI data center partnership with Nvidia (NASDAQ: NVDA) attracted a stampede of bulls and squeezed out the bears. But could Navitas' stock generate even bigger gains and set fresh highs over the next three years? Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » What happened over the past three years? GaN and SiC power chips are faster, more power-efficient, and can operate at higher temperatures and voltages than traditional silicon chips. That makes them well-suited for mobile fast chargers, electric vehicle (EV) chargers, laptop adapters, data center power supplies, solar inverters, industrial motor drives, and energy storage solutions. Navitas generates most of its revenue from its GaNFast Power ICs, which bundle together switching, sensing, control, and security features on a single chip. It expanded into the SiC market through its acquisition of GeneSiC, which mainly supplies SiC power chips for the EV and data center markets, in 2022. Its major customers now include Dell Technologies (NYSE: DELL), which uses GaN/SiC chips in its laptop chargers; the Chinese automaker Changan, which uses its GaN ICs in its on-board EV chargers; and Nvidia, which selected its 800 V HVDC architecture to support its AI workloads at its data centers earlier this year. Navitas is a fabless chipmaker that outsources its manufacturing to third-party foundries. That capital-light model enables it to focus on developing new chips instead of spending a lot of money on upgrading its plants. That sets it apart from Wolfspeed (NYSE: WOLF), the SiC and GaN chipmaker, which filed for bankruptcy this June after failing to balance the costs of running its own foundries with its soaring debt levels. Before Navitas went public, it claimed it would grow its annual revenue from $12 million in 2020 to $308 million in 2024. It also expected to achieve a positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by 2023. But here's what actually happened over the past three years. Data source: Navitas, Marketscreener. In 2024, Navitas' growth stalled out as the macro headwinds disrupted its orders from its EV, solar, and industrial customers. It also ended a key distribution deal for its SiC products, and it generated more sales from its lower-margin GaN chips instead of its higher-margin SiC chips. That pressure, along with its rising R&D expenses, caused it to remain deeply unprofitable on a generally accepted accounting principles (GAAP) basis as its adjusted EBITDA stayed negative. What will happen to Navitas over the next three years? Over the next few years, Navitas' data center deal with Nvidia -- which will be ramped up in 2026 and expanded in 2027 -- could significantly boost its revenue. It should also benefit from the growing adoption of GaN and SiC chips in EV chargers, laptop chargers, and other electronic devices. However, the tariffs against China and its intentional retreat from its lower-margin (but higher revenue) mobile markets could offset those tailwinds and throttle its overall growth. Based on those expectations, analysts expect Navitas' revenue to grow at a CAGR of 7% from 2024 to 2027 -- but its adjusted EBITDA should stay negative by the final year. And with an enterprise value of $1.27 billion, it still looks expensive at 26 times this year's sales. Navitas' valuations are likely being inflated by its deal with Nvidia. Expectations for lower interest rates are amplifying those gains by driving more investors toward speculative stocks again. Those higher valuations could cap its gains over the next three years. If Navitas matches analysts' expectations, grows its revenue by another 7% in 2028, and trades at a more reasonable 10 times its forward sales, its stock price would actually decline 7% to roughly $6.10 and reduce its enterprise value to $1.1 billion. Therefore, its stock could underperform the market until it stabilizes its core businesses. But over the long term, Navitas could still be a good long-term play on GaN and SiC chips as they displace traditional silicon chips. Should you invest $1,000 in Navitas Semiconductor right now? Before you buy stock in Navitas Semiconductor, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Navitas Semiconductor wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $649,544!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,113,059!* Now, it's worth noting Stock Advisor's total average return is 1,062% — a market-crushing outperformance compared to 185% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool recommends Wolfspeed. The Motley Fool has a disclosure policy.
CTV News
11 hours ago
- CTV News
Slow down, move over for emergency vehicles: police, fire, EMS
Edmonton's first responders are reminding drivers to move over when they see emergency vehicles on the road. While Edmonton has exceeded its yearly fatal collision average with four and a half months left of 2025, emergency services are asking drivers to take it slow when passing ambulances, fire trucks and police cruisers. 'We've had a summer of close calls,' said Insp. Brad Mandrusiak with the Edmonton Police Service (EPS) Traffic Services Branch. 'So now more than ever, it's important to remind everyone how to properly respond to emergency vehicles travelling to a call as well as those parked roadside with their emergency lights engaged.' At a press conference on Thursday, Mandrusiak said responders are often working within inches of active traffic on busy roadways throughout the city. 'We've had officers clipped, tow operators nearly struck, and countless close calls that never make the news,' said Mandrusiak, adding that EPS cruisers have been hit by civilian vehicles 42 times so far this year. EPSCRASH An Edmonton police cruiser is seen after a vehicle rear-ended it on Dec. 20, 2024. (Supplied) 'There are many factors at play here, but we can say that speeding, driving and general lack of attention behind the wheel are often contributing factors.' Mandrusiak said an officer was sent to hospital last week after getting hit by a civilian vehicle while parked in a marked cruiser with emergency lights flashing. 'Given the speed and type of vehicle involved, we're very fortunate that one of our officers wasn't seriously injured or killed,' said the inspector. EPSCRASH A crumpled vehicle that rear-ended a Edmonton police cruiser is seen on Dec. 20, 2024. (Supplied) Edmonton Fire Rescue Services (EFRS) experienced a similar incident on Anthony Henday Drive where crews were responding to a crash when a vehicle hit a ladder truck at 100 kilometres an hour. No one was injured. Acting deputy chief Jamie Amiel said when EFRS asked the driver what happened, they said they didn't see the fire truck. 'I find this hard to believe. It's a 50-foot truck, it's bright red, it's got flashing lights, there's broad daylight,' said Amiel at the news conference. Kaylee Pfeifer, a paramedic and acting public education officer with Alberta Health Services said these close calls are often preventable. 'We need you to look, pay attention while driving, looking and watching for emergency lights and listening for our sirens,' said Pfeifer. 'By being aware, you will give yourself more time to make a calm, smooth decision.' EPS, EFRS, EMS and AMA are hoping drivers can remember three steps when they see an emergency vehicle on the road: Look Always be aware of other roadway users, looking in all directions including behind you to see where an emergency vehicle is approaching from. Move Signal your intentions and move to the right to make room for the emergency vehicle to pass. Stop Stop – not in an intersection – and make sure all emergency vehicles have passed. Signal to merge back into traffic when it is safe to do so. 'These small, but confident actions can help us help others as quickly as possible,' said Amiel. Alberta's Traffic Safety Act requires drivers to slow down to 60 kilometres per hour or less on the highway when passing an emergency services vehicle or tow truck. Police are advising Edmontonians to be extra cautious on inner-city high-speed roads like the Henday, Yellowhead Trail, Whitemud Drive and the QE II. While the province largely ditched photo radar last year, Mandrusiak said it's too early to tell if the policy change has had an impact on the number of crashes. 'But I can say that speeding in general is up to a concerning level,' he said.
