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Longer loan terms means 'the monthly payment is king'

2014-10-25 06:07:46| Auto Dealers - Topix.net

Canadians are stretching out their vehicle loan payments to record lengths, driving down their monthly payments and driving up sales, also to record numbers. Sixty-nine per cent of Canadians who used financing to buy a new vehicle took out a loan of 72 months or longer in September, says J.D. Power and Associates' Power Information Network.

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