I'm screenshotting these for posterity.
Why are these subprime? Because they are affordability products, not wise borrowing. They are, in essence, 0% down payment financing. Get a float loan from a relative for the downpayment, pay the relative back with the cash back, even pocket some money in the process . . . at the expense of future payments and vastly increased risk of going underwater.
TD Canada Trust
RBC
CIBC
You're richer than you think. Until you aren't.
Hat tip: Durr commenting at VREAA
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