For someone who no longer is a DIYer, the combined factors currently happening and will happen in the near future are massive in terms of a financial hit when making a vehicle change. Perhaps this should be a different topic even though its relevant to this one, I don't know.
First, as already explained there will be a more expensive process to get a safety. Garages aren't going to charge the same to do all this and that's before any repair costs. On trade-ins, dealers will either insist on doing the inspection and getting paid for that (and repairs), or allocate an insurance like 'buffer' further deduction from trade in value. If you were trading in a vehicle, would you pay the dealer to do this + trust the dealer not to have unnecessary repairs.....
Second, it currently costs $ 1.48 to buy a US $ in a bank, and the Cdn. US mid rate exchange is $ 1.449. January 2013, $ 0.9923, January 2014, $ 1.06, January 2015, $ 1.18. To offset this, we have already seen some car cost increases on newly launched models but not a great deal relative to existing models, certainly not reflecting the exchange rate "devaluation" that has occurred. Just as we all complain when the dollar becomes favorable yet car prices don't drop, the reverse is true, meaning there are cost increases coming.
Third, the exchange rate has meant US buying up our used cars causing supply/demand price increases.
Then there is the market volatility for investors, the job security for workers. How does all this affect your decision to make a vehicle change now rather than later, or does it do the reverse, make you opt out of buying and look at the vehicles you have as long term "holds"?
