Excerpt from: Car Loans Canada -- Getting a Good Loan
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| October 05, 2007 | | I read in the Globe and Mail today that the impact of the US sub-prime mortgage meltdown won't have as large an effect on vehicle sales in Canada as it will in the US. It was noted that sales in Canada are expected to decline from roughly 1.65 million units in 2006 to 1.6 million units in 2007. This is far outshawdowed by the drop predicted south of the border. It is anticipated that new vehicle sales will fall from 16.4 million to 15 million during the same time period. Lending in Canada has also been help in check vs. the US. Much of the lose in new business is due to companies tightening up their lending creteria. As a result, fewer buyers are qaulifying for loans on the vehicles they want. It should be interesting to watch how the fall unfolds.
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