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British Columbia Residents: iCash offers payday loans in British Columbia (license number: 67639)

Ontario Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $500 loan of 14 days, the total cost of borrowing is $70, with a total payback amount of $570 and an APR of 365%. On a loan of 62 days, the APR is 82.42%.

Manitoba Residents: To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800 or 1-800-782-0067 or at www.manitoba.ca/cca/cpo

Nova Scotia Residents: Payday loans are High Cost Loans. The maximum allowable cost of borrowing under the payday loan agreement is 14$ per every 100$ received, which means on a 100$ loan for 14 days, the total cost of borrowing is 14$, with total payback amount of 114$ and an APR of 365.00%.

PEI Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $300 loan of 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365.00%. On a loan of 62 days, the APR is 82.42%.

The Cashback Program and Refer a Friend Program are not available in Manitoba, British Columbia and New Brunswick.

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A Toronto Startup, RepairMatch, is Finally Fixing the Tedious Task of Taking Your Car to the Shop

Caitlin
Author:
Caitlin
Caitlin Wood, BA
Editor-in-Chief at Loans Canada
Caitlin Wood has more than a decade of experience helping Canadian consumers learn how to take control of their finances. Expertise:
  • Personal finance
  • Consumer borrowing
  • Credit improvement
  • Debt management
📅
Updated On: July 21, 2017
iCash

RepairMatch.ca is a new online startup looking to change the way vehicle owners deal with repairs, maintenance, as well as the way they interact with auto shops. They’re a six-person team based in Toronto, Ontario.

Their mission is to reduce the hassle involved with finding, scheduling and pricing everyday auto repairs and services.

So how does it work?

  • You sign up and put your service needs into the system
  • The price is determined before they contact shops, so there are no surprises
  • RepairMatch anonymously connects your service needs to a very select group of high-quality, pre-vetted shops
  • Once a suitable “match” is found, you are notified with a selection of available times, shop location, it’s rating, etc.
  • You pick a time that works, pay a portion of the price as a deposit to lock in the deal, and you’re set!

“We are seeking to bring innovation and disruption to an industry that has been traditionally more old-school. Mechanics get a bad rap when it comes to trust—if we can help bring more transparency, ease-of-use, and education to the whole process I think folks on both sides of the equation will reap the benefits.” — Jordy Fujiwara, Marketing & Growth, RepairMatch.ca

Redefining a marketplace

A good marketplace ultimately improves things for both the buyer and the seller. In this case, vehicle owners and shops. The auto repair industry is known for being something of a closed marketplace, meaning that pricing, access to supply and service quality has a high amount of variability. Put another way: there’s a serious a lack of consistency!

By moving a large chunk of the process onto the Internet, RepairMatch hopes to modernize the market and improve the experience for everyone.

For the car owner

  • Removal of the search process: no need to research and review multiple shops
  • Transparent and consistent pricing on standard services
  • Additional layer of customer service and feedback
  • Incentivizing and rewarding high-quality shops reduces the risk of shady mechanics

For the shop owner/manager

  • Generates new business
  • Gives more control over what sort of jobs come to the shop
  • Allows them to fill downtime
  • Provides an additional layer of dispute resolution

What does “high-quality” shop mean?

Before becoming a part of the RepairMatch network, a shop must pass (and maintain!) baseline criteria, including:

  • Registry on Google Business
  • Have a review score of four stars or higher (on both Google and RepairMatch’s rating system)
  • Provide a minimum warranty on all parts and labour: 90 days or 5000 km (whichever comes first)
  • RepairMatch visits or calls all their shops to screen for professionalism

The bottom line: convenience

The one thing that we all want more of? Time! And that’s what RepairMatch gives you.

  • Easier to find an appointment that fits into your busy schedule
  • Removes the hassle of trying to find a reputable auto shop
  • Bonus: provides you with an opportunity to save money
  • Allows shop owners to fill in open appointment times in their daily schedules

Speaking of saving money, for a limited time, you’ll get 10% off any service booked through RepairMatch by using the promo code LC10! Try RepairMatch today!

Caitlin Wood, BA avatar on Loans Canada
Caitlin Wood, BA

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over ten years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

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