Property News · July 8, 2017

Will cheap car loans steer Britain to a financial crash?


The car-led consumer credit explosion must be controlled, perhaps by bringing in affordability rules as with mortgagesIf you think Britain is teetering on a cliff-edge of impossibly high personal debt, then the website of The Car Finance Company will confirm your worst fears. Maybe you don’t have a job and are on benefits. Maybe you are so hard up you can’t afford to put down a penny in deposit. Maybe your credit history is littered with arrears notices. Don’t worry – you can still drive away in a brand new Vauxhall Astra costing more than £16,000.The Car Finance Company has helped shift 80,000 new cars, saying that the Vauxhall Astra is its customers’ favourite, with more than 14,000 sold. As the website says: “CCJs, IVAs, defaults or arrears. Employed, self-employed or on benefits. It only takes one minute to apply. All circumstances considered. No deposit required. Quick approval.” Continue reading…

Source : theguardian.com
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