Auto Financing - Canada - December 2015
Overview
 
Fuelled by a prolonged low interest rate environment and other financing incentives, Canadians now hold a record level of auto loan debt. Auto loans have almost doubled in the last eight years to more than $120 billion amid growth that has outpaced other forms of household debt. Consumers are financing through captive lenders (financing arms of auto manufacturers), at dealerships and through banks and credit unions. At the same time, we have witnessed a decline in the popularity of leasing after the financial crisis of 2008. In this report, we examine current consumer preferences that tell us more about the auto financing market in Canada.

This report explores the attitudes and consumer behaviour related to automobile financing and also explores topics such as factors that influence financing decision, interest in incentives, decision factors, satisfaction with dealer financing and indicators such as the auto ownership, payment method and length of financing. 

Scope
For the purposes of this report, auto financing refers to personal car finance through financing and leasing.

Regional classifications
●	Prairie Provinces: Alberta, Saskatchewan and Manitoba
●	Atlantic Provinces: New Brunswick, Newfoundland/Labrador, Nova Scotia and Prince Edward Island

Income
Throughout the report, income data refers to annual household income.