Dating scams turkey
The Bank of England warns that if the value of second-hand cars keeps falling, banks risk losing as much as £1.7billion. Governor Mark Carney said lenders appeared to be ‘forgetting the lessons of the past’.Tory MP Huw Merriman said: ‘Reckless lending can destroy the economy.But the deals commit them to paying hundreds of pounds per month for years.If they fail to keep up payments, they face having the cars repossessed and court orders forcing them to pay the outstanding loan.At the end of the contract, they are given the option to pay off the remainder and own the car, or to return it.
Some pay-monthly deals result in the driver eventually paying less for the car than if they had bought it for cash on the day.Dealers do this because the vast majority of drivers on PCP deals don’t pay off the car in full.They pay monthly for a few years before returning the car and starting a new deal – a cycle they continue.Ford Credit did not respond to requests for comment. You can still have an Audi: In a showroom, a young driver with no income is offered a brand new car - using the controversial loan scheme that will saddle him with debt...
and threatens a new financial crisis In a showroom gleaming with luxury Audis, a dealer attempts to make a sale.An order can be made so the money is automatically taken from the owner’s wages.