CBS Parts Ltd

Their Loss is Your Gain

I

have spoken to many frustrated drivers and a lot of young people saying they can’t afford to buy anything. Truckers can’t get a truck or trailer due to long waits, high demand and high prices. The young people say they will never be able to afford a home or car and maybe want to move where it’s cheaper housing. When interest rates are up, that’s the time some people can no longer afford what they have. When that happens, there may be opportunities to help someone out of a financial jam and find yourself in a great position. With inflation so high and increased interest rates affordability has gone down significantly. Those who live pay cheque to pay cheque are now facing increases they cannot afford to pay. From gas to food, to variable rate mortgages, costs have gone up. If you have a variable rate mortgage, I suggest you lock it in now for a long term like 5 years. Locking it will hold your payment steady. If you do not lock it in, you might end up paying more and more. I know some whose payments have risen $800/m already. If the rate is not locked in, you could end up paying a lot more in the future and get to the point where you cannot afford to make the payment. So act now, not later or you might lose your home. What do you do when you cannot afford a mortgage payment? My suggestion is to sell the property or transfer the mortgage to see if someone can assume it. This opens an opportunity for those who may not have qualified for the mortgage or been able to afford it in the past, to have access to home ownership. Assuming a mortgage allows the buyer to take over the mortgage and bail the original owner out of a bad situation. If the mortgage continues with the original owner and they cannot afford it, they can lose it due to foreclosure. So, this creates the opportunity for someone who may have thought home ownership was out of reach to take over the payments and a way out for the original owner. A few months ago, in BC where I am from, there were very little opportunities to buy properties due to lack of inventory. But now there is an abundance of property. A few months ago, there were bidding frenzies which drove prices up. Now that the market has settled and interest rates are higher, the market has been flooded with properties. The prices are much lower, and the buyer can pick and choose with little threat of bidding. This is an opportunity for those who could not afford to buy before. Now a low bid may be accepted if someone wants out of a property quickly. This is a buyer’s market. Someone who can no longer afford their home, may be able to accommodate a low price just to keep their credit intact. With trucking, there has been a significant decrease in business throughout North America. Trucking loads are hard to find, and many are struggling. Many newer companies are closing due to lack of long-term contracts and relationships that need to be developed over many years. For someone wanting to open their own firm, they may be able to buy a struggling firm for cheap. Everything is set up and all the leg work is done, so buying an existing trucking company for cheap, may be a good opportunity for those wanting to start a company. With equipment, trucks and trailers are backed up; some for years. But with trucking firms closing and lack of loads, some may decline picking up equipment that was on order. Generally, you will not get a below cost deal; you will pay market value from the dealership. But the ability to buy now when there is a several years wait, is a great opportunity. Paying years of rent versus buying now will save many thousands of dollars. So, I recommend establishing a good relationship now with your local dealerships and check frequently for any cancelled orders. Take advantage of the cancelled orders. Many believe that when the economy is in a downturn, there are no chances for gain. I beg to differ. An economic downturn is full of opportunities for those who recognise and seek them out. While others are in a downturn, that is your queue to bail them out, and get yourself an opportunity that may otherwise have not been available to you. Don’t see a recession as a bad thing, think of it as a money-making opportunity.

Mortgage

PASH BRAR

pYS brwV

bhuq swry inrwS frweIvrW Aqy bhuq swry nOjvwnW nwl g~l kIqI hY ik auh kuJ vI KrIdx dI ihMmq nhIN kr skdy[ lMby ieMqzwr, au~c mMg Aqy au~cIAW kImqW kwrn tr`kW dy mwlkW nUM tr~k jW tRylr nhIN iml skdw[ nOjvwnW dw kihxw hY ik auh kdy vI Gr jW kwr KrIdx dy Xog nhIN hoxgy Aqy ho skdw hY ik auh au~Qy jwxw cwhuMdy hox ij~Qy ieh ssqw Gr hovy[ jdoN ivAwj drW vD jWdIAW hn, qW ieh auh smW huMdw hY jdoN kuJ lok auh Dn jo aunHW kol aus nwL mrzI dI cIz nhIN KRId skdy [ jd Aijhw vwprdw hY, qW iksy ƒ iv~qI qMgI iv~coN bwhr k~Fx iv~c mdd krn Aqy Awpxy Awp ƒ ie~k Swndwr siQqI iv~c pwaux dy mOky ho skdy hn[ ienPlySn Bwv mudrw sPIqI ieMnI v`D Aqy ienHW vDIAW hoeIAW ivAwj drW dy nwl koeI cIz lYx dI smr`Qw kw&I Gt geI hY[ ijhVy lok imldy cY`k nwL hI KricAW dw Bugqwn krdy hn , auh hux auhnW vwiDAW dw swhmxw kr rhy hn ijnHW dw auh Bugqwn nhIN kr skdy[ gYs qoN lY ky Bojn q~k, pirvrqnSIl drW dy igrvInwmy q~k, lwgqW iv~c vwDw hoieAw hY[ jy quhwfy kol koeI pirvrqnSIl dr igrvInwmw Bwv mOrtgyj hY, qW myrw suJwA hY ik qusIN iesƒ huxy hI 5 swlW vrgI lMbI imAwd vwsqy qwlwbMd Bwv lOk kr idE[ ies ƒ lOk krnw quhwfy Bugqwn ƒ siQr r~Kygw[ jy qusIN iesƒ lOk nhIN krdy, qW ho skdw hY quhwƒ v~D qoN v~D Bugqwn krnw pvy[ mYN kuJ ku lokW ƒ jwxdI hW ijnHW dIAW AdwiegIAW pihlW hI $800/ imlIAn q`k vD cu~kIAW hn[ jy ryt ƒ qwlwbMd (lOOk) nhIN kIqw jWdw, qW quhwnUM Biv~K iv~c bhuq izAwdw Bugqwn krnw pY skdw hY Aqy aus h~d q~k phuMc skdy ho ij~Qy quhwƒ Bugqwn krn dw ^rcw nhIN pu~gdw[ ies leI huxy kMm kro, bwAd iv~c nhIN qW qusIN Awpxw Gr vI guAw skdy ho[ jd qusIN igrvInwmy Bwv mOrtgyj dw Bugqwn nhIN kr skdy qW qusIN kI krdy ho? myrw suJwA jwiedwd ƒ vycxw jW igrvInwmy dw qbwdlw krnw hY qW jo ieh dyiKAw jw sky ik kI koeI iesƒ mMn skdw hY[ ieh auhnW lokW vwsqy ie~k mOkw KolHdw hY ijnHW ny ho skdw hY igrvInwmy vwsqy Xogqw pUrI nw kIqI hovy jW jo AqIq iv~c iesƒ pu~gx dy Xog nw hox, auhnW dI Gr dI mlkIAq q~k phuMc hox dw mOkw Ku~lH jWdw hY[ igrvInwmw mMn lYxw KrIddwr ƒ igrvInwmy ƒ sMBwlx Aqy Asl mwlk ƒ mwVI siQqI qoN bwhr k~Fx dI AwigAw idMdw hY[ jy igrvInwmw

mUl mwlk dy nwl jwrI rihMdw hY Aqy auh mYN iesƒ brdwSq nhIN kr skdy, qW auh Porklozr krky iesƒ guAw skdy hn[ ies krky, ieh iksy Aijhy ivAkqI vwsqy mOky dI isrjxw krdw hY ijsny soicAw ho skdw hY ik Gr dI mlkIAq AdwiegIAW ƒ Awpxy h~QW iv~c lYx leI phuMc qoN bwhr sI Aqy mUl mwlk vwsqy ie~k rsqw bwhr ho igAw sI[ kuJ ku mhIny pihlW, BC iv~c, ij~QoN mYN hW, ienvYNtrI dI kmI krky jwiedwdW KrIdx dy bhuq G~t mOky sn[ pr hux jwiedwd dI bhuqwq hY[ kuJ mhIny pihlW, bolI lgwaux dy jƒn sn ijnHW ny kImqW ƒ vDw id~qw sI[ hux jdoN bwzwr sYtl ho igAw hY Aqy ivAwj drW au~cIAW hn, qW mwrikt jwiedwdW nwl Br geI hY[ kImqW bhuq G~t hn, Aqy KrIddwr bolI lgwaux dy QoVHy ijhy Kqry nwl cox kr skdw hY Aqy cux skdw hY[ ieh aunHW leI ie~k mOkw hY jo pihlW KrIdx dy Xog nhIN sn[ hux jy koeI iksy jwiedwd qoN jldI bwhr Awauxw cwhuMdw hY qW G~t bolI svIkwr kIqI jw skdI hY[ ieh KrIddwr dw bwzwr hY[ koeI ivAkqI jo hux Awpxy Gr dw ^rcw nhIN cu~k skdw, auh kyvl Awpxy krYift ƒ brkrwr r~Kx leI G~t kImq ƒ smwXoijq krn dy Xog ho skdw hY[