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This Thursday, April 5, 2012 file photo shows the 2013 Toyota Avalon at the New York International Auto Show.
This Thursday, April 5, 2012 file photo shows the 2013 Toyota Avalon at the New York International Auto Show.
(Mark Lennihan/AP)

SCOTT BARLOW

Interest-free car loans for all! (And for auto makers and banks, pain)

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How’s this for a deal: Hyundai Auto Canada Corp. and Nissan Canada Corp now offer seven-year, interest-free loans to buyers of select models of their cars. Toyota Canada Inc. has also joined the party by waving six year interest free loans to prospective buyers. Canadian auto manufacturers are offering financial incentives whose sheer magnitude raises troubling questions about the real health of the Canadian consumer, as well as the possible desperation for yield by the domestic banks.