Apparently we're even bigger suckers for long loans than Americans!
Quote:
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In Canada, automakers are selling about 41 percent of vehicles with loans of at least six years or leases of at least five years, said Buzzell. [...] In the U.S., the average new car loan in 2015 was 5.5 years, compared with six years in Canada.
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https://www.bloomberg.com/news/artic...bt-pile-mounts
Ford is actually starting to worry about increasing term lengths.
Because encouraging customers to buy more car than they can afford may be good for the short term bottom line. But ultimately putting them underwater is probably bad for long-term repeat business, dontcha think?