Leading Car Finance Website Car Loan 4U Comments On Research Surrounding the Sale of Cars That Still Have Existing Car Finance Requirements

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Following research published last week by vehicle data company HPI warning that used car buyers need to check the background of cars that they buy second hand to see if there is any outstanding credit owed on them, the UK’s leading car finance website Car Loan 4U offers their top tips on how to avoid having your car confiscated after a sale.

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Car Loan 4U

We always recommend to our clients that they look fully at a car’s financial, as well as motor history, before they buy. The last thing you want to do is buy a car that the previous owner still has credit owing on.

All motorists want to know that when they buy a used car that they are paying for exactly what they think they are. Ensuring that the financial history of a vehicle is known and you are buying from a reputable source should be of the utmost importance.

Car Loan 4U Co-Director James Wilkinson comments;

“We always recommend to our clients that they look fully at a car’s financial, as well as motor history, before they buy. The last thing you want to do is buy a car that the previous owner still has credit owing on.

“If you do happen to find yourself in this situation, then you could be liable to have to make up payments for unpaid credit. We urge motorists to use some common sense when buying a car – use reputable dealers and if you are buying a car privately be sure to ask about any outstanding car finance owing on a vehicle. We have a page on our website of reputable car dealers that we recommend everyone check out when looking for a new car.

“This way you can be sure to know that you are buying a car that the seller actually owns outright.

“For those looking to buy a new car, but are perhaps in need of a lump sum payment to help cover the costs, affordable car finance is available. Our rates start from just 7.9% APR and we have a great track record in finding available car credit even for those with a less than perfect credit history.”

Car Loan 4U are also keen to point out that while there are instances where cars are stolen or a lot of money is still owed on cars that are then re-sold, the vast majority of used car sales that occur in Britain are legitimate and go through without any problems.

For all of your car finance needs, visit: http://www.carloan4u.co.uk.

Twitter: @carloan4u

Facebook: http://www.facebook.com/carloans4u

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James Wilkinson
Carloan4U.co.uk
01625 619 944 Ext: Ext. 7801
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