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2012 Toyota Highlander

Bill Petro

A surprising number of Canadians are stretching out their new car loan payments to 72 months or more in a sign of the fallout from the financial crisis of 2008-2009, notes research from J.D. Power and Associates.

J.D. Power's PIN survey (Power Information Network) has found that 57 per cent of Canadians financing a new vehicle do so with a term of 72 months or more. This is in sharp contrast to 2007 when about 12 per cent of Canadians opted for loan terms of 72 months or more. But since then, Canadians have been going long on their loans in increasing numbers: more than 30 per cent in 2008, nearly 40 per cent in 2009 and 2010 and 50 per cent in 2011.

This trend, of course, is all about the monthly payment. When financial markets froze, leasing nearly disappeared from the new vehicle market because finance institutions could not securitize their car loan portfolios. As a result, buyers turned to longer payment terms in order to keep their monthly outlay in check.

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With this data in mind, Deals of the Week went looking for cash discounts that can be combined – "stacked" – with appealing lease or finance offers. These sorts of deals are not always easy to find. Indeed, a huge percentage of cash offers are limited to cash purchases only and cannot be stacked with finance or lease deals.

But if you can find a leftover 2012 Highlander ($35,925) – keeping in mind that a reinvented Highlander is expected sometime next year, likely as a 2014 model – Toyota Canada has a $2,000 cash discount on the table and in can be stacked with a 4.9 per cent finance rate for up to five years or a lease rate of 5.9 per cent over four years. The Highlander is not the most exciting SUV out there, but it is arguably the most reliable, if you believe the research.

AT BMW, the 2013 740Li xDrive AWD ($106,600) is on offer with a $10,000 cash discount that can be combined with a 2.9 per cent finance rate for up to five years or a lease rate of 2.9 per cent lease rate for up to 39 months. The 740Li is one of the most advanced luxury sedans in the world. Despite its size and complexity, this version of the 7-Series gets better fuel economy than a six-cylinder Subaru Legacy – both with all-wheel drive.

If you're of a mind to give the new graduate in your family a new Corvette coupe, well, General Motors Canada has a deal for you. Those who bargain hard might be able to slice as much as $7,500 off the sticker price of a $60,600 'Vette – including $750 in a new grad discount. The cash offers can be combined with factory finance rates; see your dealer for details.

Finally, the 2013 Nissan Armada Platinum Edition ($59,178). This monstrous sport-ute is on offer with a Nissan Lease/Finance Cash factory-to-dealer rebate $6,000. Nissan Canada's deal here can be combined with a 5.79 per cent finance rate for up to 84 months or a lease rate of 5.79 per cent for up to 60 months.

As usual, Deals of the Week obtained pricing information from www.carcostcanada.com, among other sources. Consult your dealer for all the details.

2012 Toyota HighlanderBill Petro 

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2012 Toyota Highlander 4WD

  • MSRP: $35,925
  • Freight, dealer prep, air conditioning tax: $1,735
  • Dealer discount (estimated): $1,500
  • Factory discount: $2,000 (Stackable Trading Dollars factory-to-dealer rebate)
  • Taxable subtotal: $34,160
  • Total price with 13 per cent HST: $38,600.80
  • Can be combined with 4.9 per cent finance rate for up to five years or lease rate of 5,. per cent over four years

2013 BMW 7-SeriesBMW 

2013 BMW 740Li xDrive AWD

  • MSRP: $106,600
  • Freight, dealer prep and air conditioning tax: $2,095
  • Dealer discount (estimated): $4,000
  • Factory discount: $10,000 (Alternate Cash Back/Delivery Credit factory-to-dealer rebate)
  • Taxable subtotal: $94,695
  • Total price with 13 per cent HST: $107,005
  • Can be combined with 2.9 per cent finance rate for up to five years or lease rate of 2.9 per cent lease rate for up to 39 months

Corvette CoupeGeneral Motors 

2013 Chevrolet Corvette coupe 4LT

  • MSRP: $60,600
  • Freight, dealer prep, AC tax: $1,695
  • Dealer discount (estimated): $3,750
  • Factory discount: $3,000 (Stackable Cash Delivery Allowance factory-to-dealer rebate)
  • Taxable subtotal: $55,545
  • Total price with 13 per cent HST: $62,765.85
  • Factory discount: $750 (Student Bonus Program factory-to-customer rebate)
  • Final price: $62,015.85

2013 Nissan ArmadaWieckNissanWieck 

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2013 Nissan Armada Platinum Edition

  • MSRP: $59,178
  • Freight, dealer prep, AC tax, Green Levy: $3,880
  • Dealer discount (estimated): $2,750
  • Factory discount: $6,000 (Nissan Lease/Finance Cash factory-to-dealer rebate)
  • Taxable subtotal: $54,308
  • Total price with 13 per cent HST: $61,368.04
  • Can be combined with 5.79 per cent finance rate for up to 84 months or lease rate of 5.79 per cent for up to 60 months

Pricing information source: www.carcostcanada.com .

Calculations based on Ontario customers. Please note that while the information above is accurate at the time of publication, incentives are given at the discretion of individual dealers, and may be changed or discontinued at any time. Dealer discounts are negotiated with the customer on a case-by-case basis.

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