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Kelly Collins chose to stretch out the loan on her new red Dodge Journey for an extra year because she wanted lower monthly payments, an increasingly common practice in debt-laden Canada.

[np_storybar title=”Canada’s cheap car loans have eerie trappings of housing crisis” link=”http://business.financialpost.com/2013/02/09/canadas-cheap-car-loans-has-eerie-trappings-of-housing-crisis/”]With extended amortizations on car loans and no downpayments required, the auto sector is the most rapidly growing consumer debt sector in Canada. Read on

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“They were really good about letting me customize,” said Collins, who opted to move beyond a five-year term after being given the option to speed repayment if she has extra cash.

The average term of a light-vehicle loan in Canada is 69 months, close to a peak of 72 months set in the third quarter of 2013, according to data from marketing information company J.D. Power. The borrowing adds to signs Canadians are continuing to buy big-ticket items and tuning out warnings about unsustainable debt growth.