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SW Ontario | I know this has been going on for a while now. It just struck me yesterday how backwards it is. Banks trying like crazy to expand credit to consumers who barely want it. Banks know these relatively short car loans are relatively risk free.
To me $500 is a nice chunk of change. I've never taken out a car loan but banks obviously profit nicely to afford the $500 kick back.
Btw, the truck was only $20 000. I will put 50 000 miles per year on it and get another used one every 3-4 years? Why bother financing it?
Edited by Bert 12/16/2015 19:52
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Interest
