Carfinance247.co.uk backs campaign to protect used car buyers from potential logbook loan debt

Car dealer and car finance specialist carfinance247.co.uk has pledged its support for the BBC campaign to protect second hand car buyers.

The BBC’s Inside Out programme* reported how some unsuspecting used car buyers are purchasing vehicles that have outstanding finance on them. This means that the vehicle does not legally belong to the new purchaser, but the finance company.

Director of carfinance247.co.uk, Louis Rix, says: “As a responsible car and car finance provider, we always carry out full checks on any vehicle that we are selling, not only to make sure it isn’t a write off or stolen, but that there is no outstanding finance on it.

“We welcome the BBC’s campaign to highlight the potential hidden debt that could lurk in a car’s history.”

Recently published data** suggests that around one in four vehicles searches carried out using an HPI check, have outstanding credit on them.

Ends

*Aired 27th February 2012 on BBC1

**RAC news 29.02.12

Contact:

Louis Rix, Director of carfinance247.co.uk, on: 0845 129 5526 or email: louis.rix@carfinance247.co.uk

About us:

Founded in 2000, carfinance247.co.uk is a privately owned business with offices based in central Manchester. We provide vehicle financing solutions for all financial circumstances such as hire purchase, personal contract purchase, contract hire and other leasing options. No deposit is required and we can supply and deliver any make and model of your choice.

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About Us

About us: Founded in 2006 by entrepreneurs Reg and Louis Rix, Carfinance247 is the UK’s leading online car finance brokerage. Carfinance247 help people secure finance on any new or used car regardless of their credit history and once approved, customers are allocated their very own personal finance advisor to guide them through the process. Based in Manchester and employing over 150 people, Carfinance247 simply aims to secure the most appropriate and cost-effective financial deal for its customers from a large panel of well-known financial institutions

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Figures suggests that around one in four vehicles searches carried out using an HPI check, have outstanding credit on them
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Quotes

We welcome the BBC’s campaign to highlight the potential hidden debt that could lurk in a car’s history
Louis Rix, Director of carfinance247.co.uk
As a responsible car and car finance provider, we always carry out full checks on any vehicle that we are selling
Louis Rix, Director of carfinance247.co.uk