Edmonton Mortgage Blog

Your Edmonton Mortgage Broker: Natalie Wellings

Car loans that are too long...

November 17, 2017 | Posted by: Natalie Wellings

I am so glad to hear that Marketplace is doing a story on car dealerships pushing longer term loans for consumers. I have always thought that any car loan longer than 5 years is too long. If you cannot reasonably afford the payments within a 60 month term then you simply cannot afford the car you want to buy and should look at other options, to live within your means. Dealerships use these longer term loans to make the vehicle appear to be more affordable than it is. This article is well worth a read!

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