Don’t Oversimplify Car Finance

Saturday, 19. September 2009

Fraud is on the increase as Internet and other car finance brokers find themselves up against it. Add this to the fact that people are now starting to realise that loans are not simply down to APR and leasing isn’t simply down to monthly rental. Take out finance and you have to sign a document locking you into many terms and conditions that you agree to by signing the document. With no regulators protecting your interests before you sign the agreements you are left exposed to those who are in desperate situations making all sorts of false claims and promises in order to achieve the sale which could cost you thousands of pounds. And don’t think that because you are signing an agreement from a well known lender that you are safe, some of the worst terms I have ever seen in a contract have been from either bank backed lenders or manufacturers’ own funders. Be very very careful and check the contract before you sign it. There are sadly a lot of crooks about. By Graham Hill