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

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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.

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