Video: Long-term car loans trend in Canada

From: Financial Consumer Agency of Canada

Long-term car loans in Canada

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Transcript

Lucie Tedesco, Commissioner, Financial Consumer Agency of Canada

Recent trends in extended-term car loans have raised several concerns. Consumers must carefully examine their needs and their financial situation to ensure that they can repay their car loans without undue strain, and with a full appreciation of the total interest charges and value of the car throughout the loan period, and beyond.

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