The Farce Known As The European Consumer Credit Directive

Tuesday, 8. March 2011

A few weeks ago I had a bet with an old friend of mine over one of the critical sectors that I believed had been omitted from the new EU Consumer Credit Directive (CCD) which came fully into force from 1st February. The question was over Hire Purchase. I knew that the sister product, known as Conditional Sale, was included but it was my understanding that Hire Purchase was excluded and was therefore simply controlled, as it always has been, by our existing Consumer Credit Act. Confused? It gets Read more »

A Massive Benefit Of Hire Purchase Over Cash Or Loan

Monday, 19. July 2010

Over the years I have put forward many reasons why you should opt for Dealer HP over a personal loan (contrary to all advice given in the media). Your legal rights are so much greater when you take HP. If you have read my book An Insider Guide To Car Finance, or been a regular reader of my newsletter, you would know the reasons that I put forward. However, I have just uncovered a new one that you may Read more »

Good News For Those That Like To Own Their Cars

Monday, 8. February 2010

For those that like to own their vehicles and have a penchant for hire purchase there is some good news, you can now receive treatment for this condition, known as ‘bonkers’, on the NHS. OK serious stuff. I reported last year that the EU had issued a directive that meant that, amongst other things, the ability to voluntarily terminate your agreement once 50% of the full cost has been repaid would no longer apply to Read more »