When it comes to consumer debt in Canada, most reports focus on the high costs of homes and mortgages across the country.
But a new report from Moody’s Investors Service suggests trends in the auto sector are also troubling, reports Financial Post.
In fact, adds the outlet, the report shows “bank auto lending has grown at a compounded annual rate of 20% since 2007,” and “vehicle loans have jumped from $16.2-billion to $64-billion” over the last seven years. Read more.
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