Find the best car loan for your needs
Stretching out your car repayment term can lower your monthly payments. But the longer the car loan, the longer the period where you owe more than your car is worth. If you need a new car during that “negative equity” period, you will have to get a loan not only to pay for the new car, but also to repay what you still owe on the old one.
If you are thinking about buying or leasing a car, it is important to do your research, make a budget and balance your needs with what you can reasonably afford over the long term.
💡 For more tips on buying or leasing a car (or other vehicle) and making sure you can afford the payments over time, visit: https://www.canada.ca/en/financial-co...
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