There’s a notable possibility that the potential car buyer at your dealership who needs financing to take delivery is more than a little skeptical about getting the necessary credit.

According to a new national survey from Neo Financial, nearly half of Canadians say building credit feels harder than ever, despite doing what they believe are the right things financially.

Survey findings showed 46% of Canadians said it is more difficult to build credit today than it was for their parents’ generation, pointing to growing frustration with a system many find difficult to navigate.

Meanwhile, 36% of respondents believe the rules for accessing credit are deliberately unclear.

The survey, conducted by Fuse Insights, also revealed that only 51% of respondents believe the credit system works fairly for them.

“When only half of the country feels the system is fair, it’s not a consumer problem. It’s a structural one,” Neo Financial CEO Andrew Chau said in a news release. “We’ve identified this as the ‘Legacy Lag’ where consumer behavior has modernized, but credit systems and traditional banks are stuck in the past and fail to reward real-time financial behavior with real-time progress.”

The Credit Confidence Survey was conducted by Fuse Insights, an independent research agency that focuses on understanding Canadians, their attitudes and experiences. These results are taken from a survey of 1,050 Anglophone Canadians aged 18 and older.

The project was conducted in October and in English only, with respondents drawn from “a robust online research panel,” according to Neo Financial.

The survey also identified other key barriers to financial progress, including:

—The generational pinch: 46% say it is harder to build credit today than it was for their parents.

—The data deficit: 69% of Canadians believe the credit system should recognize ‘real-life’ bill payments as proof of financial reliability.

—The guidance gap: Only a fifth (21%) say they know exactly which actions will meaningfully improve their credit standing.

Neo Financial said it is trying to help the situation.

In 2025, Neo Financial cardholders (many of whom were previously underserved by legacy banks) collectively grew their credit scores by 6.3 million points. By providing instant feedback and a guaranteed path to accessing credit, Neo Financial users saw score increases of up to 64 points in as little as 90 days, and unlocked $240 million in new credit limits across its customer base.

“We saw some incredible wins from our customers in 2025. When we talked to them about what made the biggest difference, they kept pointing back to the same thing: the visibility and control they finally have over their money,” Chau said. “Whether it’s in-app credit score monitoring, credit utilization tracking, or personalized tips, the success is as much psychological as it is financial.

“Seeing their money clearly and feeling in control replaces financial stress with progress. This is how a modern financial system should work: recognize effort and help Canadians move forward faster,” Chau went on to say.

For more information on how Neo Financial is helping Canadians, visit www.neofinancial.com.