07/11/2026
Canadians don’t have an auto loan problem.
They have an affordability problem:
• The average new vehicle now costs over $62,000
• Avg. monthly payments have climbed to $915
• 1 in 5 trade-ins now carry negative equity
• Longer loan terms are keeping borrowers in debt for years longer than ever before
The result is a cycle that’s becoming all too familiar:
➡️ Trade in a vehicle
➡️ Roll existing debt into the next loan (neg. eq.)
➡️ Extend the term to lower the payment
➡️ Repeat
At Approval Genie, we believe the answer isn’t simply approving another loan.
It’s asking better questions…
❔ Can the customer truly afford the payment?
❔ Would repairing their current vehicle make more financial sense?
❔ Is refinancing an option?
❔ Are we helping improve their financial future, or just moving debt from one vehicle to the next?
✅ Real automotive finance should be about education, transparency, and building an exit strategy that leaves customers in a stronger financial position.
Helping someone get approved is important.
Helping them build a better future is what matters most. ✨
