Appendices to the complete auto loan guide.

Appendix A: Glossary

• Credit History: A record that lists an individual's credit, debt, and payment history, used by lenders to assess a borrower's creditworthiness.
• Debt ratio: The percentage of an individual's gross income that goes toward paying off debt each month.
• Fixed interest rate: A interest rate which remains constant throughout the duration of the loan.
• Variable interest rate: An interest rate that can change depending on market conditions.
• GAP Insurance: Insurance that covers the difference between the value of the vehicle and the remaining loan balance in the event of a total loss of the vehicle.
• Consumer Protection Act (CPA): A Quebec law that establishes standards and obligations for lenders and dealers in the context of automobile loan transactions.

Appendix B: Additional Resources

• Office de la protection du consommateur (OPC): Government website offering information on consumer rights and consumer protection laws in Quebec.
• Financial Consumer Agency of Canada (FCAC): Federal agency that provides information on financial services and consumer rights nationally.
• Association of Used Vehicle Dealers of Quebec (ACVQ): Professional organization offering resources and advice for purchasing used vehicles in Quebec.