Not long ago, a very nice lady walked into Mark Wilson's Better Used Cars in Guelph, Ontario, wanting to buy a car.

She told the dealership staff she owed $10,000 on her trade-in. Well, general sales manager Andy Mazak thought, we can make that work.

“But when we went and pulled the lien, it was $22,000,” Mazak said during a panel discussion titled “Credit is Tight. Negative Equity is the New Normal. Now What?” at Canada’s Used Car Week 2025 in Toronto. “So just a little bit offside. Just a tad bit.

“You know, we never want to ...

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