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Newly built cars sit in a shipping lot near General Motors Car assembly plant in Oshawa, June 1, 2012.
Newly built cars sit in a shipping lot near General Motors Car assembly plant in Oshawa, June 1, 2012.
(© Mark Blinch / Reuters/REUTERS)

Auto loans driving household debt

We’ve heard it all before: Canadian households are tapped out and can’t afford to take on new debt.

But what you rarely hear is a distinction of the different types of debt involved in this calculation. We often focus on mortgages because housing has been so hot, and don’t pay much attention to things like credit cards, home equity lines and auto lending.