A popular provincial winter tire loan program could be the first step in helping curb auto collisions nationwide.
Manitoba’s winter tire loan program has proven so popular since its launch in September 2014 that Manitoba Public Insurance (MPI) issued an announcement detailing its latest findings on the initiative.
“We know that nearly 71,000 loans have been processed and approved for Manitobans who have decided to take advantage of the province’s low-interest winter tire program,” MPI spokesperson Brian Smiley told
CBC News on Monday.
Smiley added that the actual total number of drivers with winter tires installed in their cars is probably even higher than that, since a number of drivers purchased their tires even before the loan program launched.
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The tire loan program allows motorists to apply for a loan of up to $2,000, at an interest rate of prime plus 2%; approved drivers can then purchase tires suited for winter conditions. Those who take out a loan have up to four years to pay it off.
According to MPI officials, the average loan in the province for brand new winter tires is $1,200. The MPI also noted that, on average, it takes applicants three years to pay back the loan.
Smiley stressed that the specialized tires have been proven to reduce the distance it takes a car to stop in the winter.
“That’s a result of the composition of the winter tire. They’re a softer rubber; their treads are a little bit wider,” Smiley explained. “We also know with the winter tire, based on their rubber composition, that they have significantly better traction on snow-covered or icy surfaces.”
Although there is no discount or rate deduction if drivers use winter tires during the colder months in Manitoba, the equipment is still highly recommended due to its ability to help prevent collisions.
“Winter tires are not mandatory in the province of Manitoba,” noted Smiley.
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