Scotland top region for used cars on outstanding finance
HPI data reveals where consumers are most at risk from used car finance fraud in the UK www.hpicheck.com New data analysis from HPI, provider of the HPI Check®, reveals that Scotland has the greatest number of used cars for sale hitting the HPI outstanding finance register. The North West of England and Wales follow close behind. A vehicle that has outstanding finance registered against it legally belongs to the finance house, which means unwary buyers could lose the car and the money they paid for it, if the vehicle is repossessed. With as many as 1 in 4 used cars hitting the HPI finance register, private car buyers are being urged to protect themselves from the finance fraudsters. Neil Hodson, Managing Director for HPI explains: “It’s very clear from our data, that the chances of buying a car that still has finance owing against it is much more likely in some regions across the UK than others. Buyers in the regions London, East Anglia and the South West are the least likely to find themselves with a car that is legally owned by someone else.
Buying A Car With Outstanding Finance On It
Here’s everything you need to know about buying a car with outstanding finance on it. We’re supposed to be living in an age of austerity, and if you believe the papers, a worrying proportion of us are in the red. Despite this, new car sales are increasing every month – so how can this be? The answer is simple; it’s all down to the ready availability of credit, and in particular purchasing schemes such as the Personal Contract Plan (PCP).