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Used Car APR in Ontario Canada?

Shawn Ryder

When considering purchasing a used car in Ontario, Canada, one major financial aspect to be aware of is the Annual Percentage Rate (APR) you might encounter when financing your purchase. In Canada, lenders are legally required to disclose the APR, allowing consumers to better compare financing options from various providers.

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Do manufacturers calculate interest and add to the loan?

Shawn Ryder

This collaboration can lead to promotional financing offers, such as 0% interest deals for qualified buyers. Third-Party Lenders: Often, manufacturers will partner with banks and credit unions to provide loan options, utilizing their established procedures for determining interest rates.