by the Financial Post

A growing number of people are financing car purchases by rolling old debt — student loans, credit card bills, previous car loans — into new car debt, and taking advantage of a thriving business for financial institutions that have extended amortization periods for as long as 96 months. However, a debt-rating agency recently noted that in some cases consumers are borrowing up to 135% of the value of a vehicle. These “negative equity” loans, as they’re called, are the same sort that permeated the U.S. mortgage market before it collapsed in 2008. The Financial Post turns to the Credit Counselling Society's founder, Scott Hannah, for insight on this troubling trend. Read more