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May 07, 2013

Are you going to bother fighting that traffic ticket?

While many drivers instinctively want to "beat the system" after being pulled over, the odds are against you.

"But, officer, I didn’t see the sign!" ranks as the the top excuse in a recent survey of explanations drivers give when stopped by police. Not that it generally gets them anywhere.

Being lost and being "unaware" of car equipment failure are also among the typical excuses drivers offer when pulled over for a potential ticket.

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April 04, 2013

Link parking rates more closely to demand: report

Parking costs are on the rise in most major North American cities as officials grapple with reduced revenue and the political challenges in raising taxes.

Rates across Canada are generally higher with Calgary in the priciest spot at $456 a month, according to a recent survey by Colliers International.

Of the 12 major Canadian cities surveyed, Montreal was deemed the second-most expensive city to park in with a cost of $330 a month, on average – a 12% year-over-year increase. Toronto ($316), Edmonton ($295) and Vancouver ($277) round out the top five most costly Canadian cities.

There's a stack of of variables that go into parking demand, including the price of gasoline and the availability of mass transit. But generally the biggest factor is downtown office vacancy rates. The more office workers looking for space, the greater the demand for parking.

That's why the City of Ottawa is considering shifting its parking rates based on how often spaces are used.

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February 28, 2013

How much does having a car really cost?

326255_8797It's hard to believe that your driving costs outweight your annual grocery bill.

But according to a new report by the Canadian Automobile Association (CAA) -- it's true.

In fact, the study found that the annual ownership costs for a compact vehicle are about $9.500 while the average Canadian spends about $5,400 on their yearly grocery bill. Now that's food for thought.

The study also discovered that four in five Canadians polled underestimate the cost of owning and operating a motor vehicle. And six in 10 underestimated that cost by $4,000 or more.

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February 19, 2013

Do you really need a second car in the driveway?

North America's economy would take off like a rocket if only consumers bought not just one, but two, cars.

A full recovery from the economic downturn “relies on a lot of people buying that second car,” maintains Itay Michaeli, who follows the auto industry for Citi Investment Research. “It reflects consumer confidence, not just the buying of a replacement vehicle.”

He expects younger buyers to take the lead in boosting vehicle sales. “We consistently see in surveys that 18 to 34 year olds say that when the economy gets better, their households will have multiple cars.”

Really? The fact is, today’s young people simply don’t drive like their predecessors did. At least city dwellers don't, says Jordan Weissman in the Atlantic.

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December 04, 2012

Should eating-and-driving be illegal, too?

Forget, for a second, what’s been argued about texting-and-driving laws, that they actually make the roads more dangerous because now we have to hide our texting down by our laps, rather than doing it up high where we can still see the road.

911780_snack_boyWhy forget it? Because even the most ardent supporter of texting-and-driving freedom must surely concede of its perils; if at least one person on the road can’t text and drive safely, then the law must do its best to limit everyone from having the chance.

Texting, though, is one thing while driving.

What about eating? While there are few laws that address eating-and-driving in Canada, one South Dakota town has just passed an ordinance to make it illegal.

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October 02, 2012

Have you seen that spare tire lately?

Had a flat recently? If not, you may be in for a surprise. Over the past few years, several automakers have removed spare tires from the trunk, although some are still offering a spare as an option -- for 300 or 400 bucks.

Trouble is, since spare tires have been standard equipment for so long, many new car buyers don’t even realize they don’t have one until it's too late. And the jury is out as to whether replacement systems are any better.

For instance, to save weight and space, Acura has replaced the traditional spare tire, jack, and lug wrench with a tire repair kit.

The kit consists of a sealant that can temporarily plug a typical flat tire hole using a battery-operated pump. As the pressure increases inside the tire, the sealant is drawn toward the leak until it forms a plug, after which the pump will continue to fully re-inflate the tire until you can get to a garage for a more permanent repair.

At least that's the theory.

One of the worst things about these kits, says Jim Motavalli, who writes on cars for the Mother Nature Network, is that they can really mess up a tire. The kit may get you out of the emergency, but many tires are more likely junk after the fact, he maintains.

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September 10, 2012

Abandoned luxury cars a growing problem in debt-ridden Dubai

Less than one year ago, photos of this Ferrari Enzo, the limited edition supercar, began circulating the web.

1150341_fast_carCovered in sand sitting in the Dubai desert, the $1.6 million Enzo had been abandoned, left to rot in a police impound lot.

Why? Allegedly, the Enzo was owned by a British expat, who fell behind on his payments and was forced to flee the country.

You see, failing to pay your debts in the U.A.E. is a jailable offence, and it’s caused a growing problem that must be unique to Dubai: rich people, not nearly as much after the recession hit, have been forced to abandon their luxury cars en masse when they can no longer pay the bills.

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How GM loses up to $49K each time it sells a Chevy Volt

More than five years ago, at the North American International Auto Show in Jan., 2007, Chevrolet introduced the Volt, which was to be, in no uncertain terms, the car of the future.

1347308022190The first major manufacturer to debut a plug-in hybrid car, Chevy was a step up on everyone, even though production would not begin on the vehicle until Dec., 2010.

And still today, the Volt is the  name in electric cars. Ford, Honda and Mitsubishi have plug-in vehicles on the way, but Chevy owns the market.

Though how lucrative that market is appears to be another story. A new report detailing just how much Chevrolet loses on the Volt suggests we’re still quite a ways from a sustainable electric car business.

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July 03, 2012

Drivers who skirt rules on disabled parking increasingly under fire

A jump in the number of able-bodied drivers parking in disabled-only spots has some people wondering if it's time to make the punishment more than a simple $400 fine.

Perfectly healthy people often use permits belonging to disabled family members, hang on to them after the holder has died or no longer needs it or simply forge them.

And it's not just about parking closer to the door. Many jurisdictions give disabled permit-holders free parking or at least the right to stay at a parking meter longer than those who don’t have them – making them a valuable and often abused perk.

Parking control officers are often reluctant to challenge drivers on whether or not they’re really disabled. But that seems to be changing, according to the Ottawa Citizen.

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June 01, 2012

Are 'fuel-boosting' car packages worth the upgrade? No, no, no

Today, there is nothing more en vogue than a fuel-efficient car.

Though, of course, not everyone can afford $40,000-plus for a Volt, Leaf or Prius. Instead, many drivers buying new cars opt for smaller “fuel-boosting” packages, upgrades that cost between $485 and $800 extra on top of a vehicle’s standard trim.

But are the fuel savings worth the extra bucks?

According to new data from Consumer Reports, it could be years before motorists that purchase fuel economy upgrades recoup their money in gas bills.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...