Property News · July 2, 2017

MPs and charities urge car leasers to publish sub-prime loan figures


Fears over lending grow as 85% of new cars are financed using loans but car leasing lacks industry-wide figures for arrears and defaultsMPs and debt charities have called on the car leasing industry to reveal the number of people in arrears and defaulting on loans, amid fears that consumer lending is returning to levels seen before the 2008 financial crash.More than 85% of new cars in the UK are financed using loans – up from just over half in 2009 – but a lack of industry-wide figures sets car leasing apart from other sectors in the financial services industry that publish figures for arrears and defaults. Continue reading…

Source : theguardian.com
Read more…MPs and charities urge car leasers to publish sub-prime loan figures

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