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PPI Claim News - 18/12/2009

 
Loan charges: Car loans likely to remain 'scarce' in 2010

Demand is picking up among motorists for car finance, but lending is likely to remain tight for much of 2010, it has been suggested.

According to the Retail Motor Industry Federation, point-of-sale car loans have been necessary to fund a significant number of the new car purchases taking place in recent months.

Consumers risk heavy loan charges if they fail to make repayments on such financing, however Sue Robinson, director of the federation, expects sales of new cars to remain high until the end of the year.

After that, she suggested that changes to the industry could see the number of car buyers drop off rapidly: "2010 could see a tougher marketplace for vehicle sales as consumers are hit with increased VAT, the removal of scrappage incentives and constricted disposable income."

Ms Robinson's comments came in response to a release by the Finance and Leasing Association, which revealed that the number of new cars bought by consumers using car loans was up 18 per cent in October, year-on-year.

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges formADNFCR-2776-ID-19521231-ADNFCR



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