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The risks of long-term car loans

With a long-term car loan, you may still owe more than the value of the car when you want to trade it in. In that situation, you may be offered to add the remaining debt to a new loan. That means a bigger debt, possibly at a higher interest rate.

Get tips to help you make informed decisions about car financing at: http://www.fcac-acfc.gc.ca/Eng/forConsumers/topics/creditLoans/Pages/financing-car.aspx.

Understanding your financial rights and responsibilities means no surprises. Find out more...

Related topics : car interest rate loan / get a car loan canada

Canadian consumers and long term car loans

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Consumers must carefully examine their needs and their financial situation to ensure that they can repay their car loans without undue strain.

Get tips to help you make informed decisions about car financing at: http://www.fcac-acfc.gc.ca/Eng/forConsumers/topics/creditLoans/Pages/financing-car.aspx

Understanding your financial rights and responsibilities means no surprises. Find out more at Canada.ca/it-pays-to-know.

Version française : https://youtu.be/ZXFKVNICiG0