What car loans!

by: Guest Trustee | Dec Sat 17, 2011 11:58 AM | 0 comment
What car loans!

Yet another announcement from the Bank of Canada and the Honourable Minister Flaherty about Canadian debt loads.  Although it was especially informative to read about Trans Unions' analysis mentioning consumer debt and excluding mortgage debt, the conclusion to be made is that we love new cars.  The auto financing sector is taking off!

There's a car dealer in Coquitlam BC offering $10,000 in the glove box if you finance a new car!  They must know about BC's seize or sue laws - if you don't pay and your financed car gets seized, you are off the hook on that car loan debt.  But be careful!  If you sign a second collateral loan agreement when you get that car, they might have you!  

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