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 Post subject: Re: PCP Car Finance - A ticking time bomb
PostPosted: Wed Jan 09, 2019 4:50 pm 
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Old Time Landlord

Joined: Jan 31, 2007
Posts: 378
Location: Middle Earth
FreeFallin wrote:
As Arcade Fire sang....
"But they don't know where and they don't know when
It's coming
Oh, when, but it's coming
Keep the car running"

https://www.irishtimes.com/business/fin ... -1.3751716
Quote:
One in six used cars on sale may be at risk of repossession as they still have finance outstanding on them.

In a study of a sample of 5,906 used cars offered for sale and history-checked by vehicle history checking website Cartell.ie, 16.6 per cent still had outstanding debt, meaning the finance provider was the ultimate owner of the vehicle and not the seller. In December 2017 it stood at 14.3 per cent. In July 2016 the rate was just 9.5 per cent.



Smells of advertorial for cartell.ie or SIMI to me. Do SIMI own cartell. The irony (cartel) is delicious. I'd say they are praying for a hard Brexit - no more UK car imports.


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 Post subject: Re: PCP Car Finance - A ticking time bomb
PostPosted: Wed Jan 09, 2019 6:55 pm 
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Too Big to Fail

Joined: Aug 23, 2008
Posts: 3737
Location: Bogtrotterland!
owenm wrote:
FreeFallin wrote:
As Arcade Fire sang....
"But they don't know where and they don't know when
It's coming
Oh, when, but it's coming
Keep the car running"

https://www.irishtimes.com/business/fin ... -1.3751716
Quote:
One in six used cars on sale may be at risk of repossession as they still have finance outstanding on them.

In a study of a sample of 5,906 used cars offered for sale and history-checked by vehicle history checking website Cartell.ie, 16.6 per cent still had outstanding debt, meaning the finance provider was the ultimate owner of the vehicle and not the seller. In December 2017 it stood at 14.3 per cent. In July 2016 the rate was just 9.5 per cent.



Smells of advertorial for cartell.ie or SIMI to me. Do SIMI own cartell. The irony (cartel) is delicious. I'd say they are praying for a hard Brexit - no more UK car imports.


That is assuming that a hard Brexit blocks imports, it may not, it may even not impose import tariffs. Then the cars will be even cheaper!

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