Quote:
Originally Posted by Rubicant
Car finance people know that most people only look at the monthly payment so they talk them into way too long a term to afford a car they shouldn't.
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More than half of new car loans in Canada today are financed for seven years or longer. Less than 10 per cent of American car purchases are financed with long-term loans.
And a third of Canadians are still paying off the loan on the car they trade in when they finance their next car.
https://www.cbc.ca/news/business/deb...term-1.4863737
This really is a cultural sea change.