Sonya Rawlings is unhappy with a five year old loan, which has ballooned in interest costs, more than doubling her monthly payment. Ottawa, Ont. .
Closer examination of the financing details revealed the loan's original ten-year amortization had been extended to 20-years by the second lender. Winder also notes that not all vendors provide this type of loan, and in some cases will offer more competitive interest rates, given the higher cost of living has more consumers pulling back on purchases.The Rawlingses have spoke to customer service representatives but have been told 'there is nothing you can do about it', when it comes to the interest rate or lower monthly payments.
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