Use An Online Broker & You Could Lose Your Car

Thursday, 11. September 2008

I have been quite frustrated this week as a result of the plight of a lady who has a major problem with a finance company. As a court case is pending I cannot comment on the details but suffice to say that I am doing everything to help. The lady had a arranged a car through Gwent Fleet Management of Abergavenny who are now under investigation by the police but as a result of their actions the lady now has a battle with a finance company called Mallard Finance, who are, according to the lady, trying to repossess her new Audi which at the moment is locked away and unusable whilst bailiffs are on the lookout for the vehicle. I have put her in touch with a good friend of mine who is a solicitor, writes for a Sunday Newspaper and specialises in car finance for some free guidance but I believe it will be some time before she will be driving her new car. The moral is to know who you are dealing with, don’t forget these people advertising on the Internet are not finance houses they are brokers and WORK FOR YOU, not the lender. So whilst, according to blogs on the Internet, GWF have done a runner with clients’ money clients are being hounded by lenders seeking to repossess their cars. A key factor in this case is the fact that a client made an advanced payment to the broker and not the leasing company, something I’m totally opposed to, especially as many brokers are getting desperate at the moment. We only ever have advanced payments made to either the lender or the supplying dealer. Take care when parting with cash, especially if you have been seduced by a low rate! By Graham Hill