Manitoba offers loans for winter tires

WINNIPEG, Manitoba (Sept. 30, 2014) — The provincial government of Manitoba has launched a low-interest financing program for qualifying residents to buy winter tires, providing up to $2,000 toward a purchase at prime plus 2 percent.

Those who take advantage of the program will have up to 48 months to repay the loan, according to Manitoba Public Insurance, which is administering the program.

Program eligibility comprises: the individual must be a Manitoba Public Insurance customer; qualifying winter tires must be fitted to a passenger car or light truck registered to the individual's name; and the individual must have no financing restrictions or outstanding arrears with Manitoba Public Insurance.

The deal is valid with participating retailers, which will confirm the individual's eligibility and complete the loan authorization. Program participants can choose to pay the loan via monthly payments through an existing banking or credit card linked to his or her Manitoba Public Insurance account.

Tires eligible for the program must display the mountain peaks winter tire symbol, as established by Transport Canada and the Tire and Rubber Association of Canada (TRAC),

which signifies that the tires have met specific snow traction performance requirements and are designed to be used in severe snow conditions, Manitoba Public Insurance said.

The loan offer applies to the qualifying tires and associated costs, including rims, mounting, balancing, taxes and fees.

Manitoba Premier Greg Selinger proposed the loan program earlier this year as a component of the province's budget to make life more affordable for Manitoba families, according to TRAC, which estimates that only about one in five Manitoba drivers uses winter tires, ranking the province among the worst in Canada in that aspect.

Retailers interested in participating in the Winter Tire Program should contact Manitoba Public Insurance via email at [email protected].