Canadians shift to smaller, more frequent, auto loans repayments

Newswire

By Allison Lampert MONTREAL, Aug 11 (Reuters) - Canadians are making smaller payments more frequently on auto term loans as new financing offers lure buyers away from the typical monthly billing cycle, a trend public advocacy groups say could push consumers to purchase more expensive vehicles that they simply cannot afford. "Because long-term car loans tend to involve lower monthly or bi-weekly payments, extended terms can encourage consumers to buy more car ...

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