Car credit customers warned not to invest in Old Bangers

Feb 26 2009

Consumers thinking of buying a used vehicle with their Car Credit agreement are being urged to ensure they do not end up with an old banger.

Auto information service HPI has conducted research that highlight's Britain's fondness for naming their vehicles, with 50 per cent of drivers opting to give their car a moniker such as Boomzilla and Moocher.

But the firm warns that consumers should be careful not to purchase a model that they may later refer to as Terminator and The Wreck.

Nick Lindsay, director of HPI, said: "It's easy to get emotionally attached to the car you are looking to buy, but every day HPI identifies nearly 30 stolen vehicles and many of these will be sold as bargains to unsuspecting buyers."

Earlier this month, the firm urged consumers to hurry if they plan to invest in a used car at a bargain price as values fell, which may be good news for car credit customers not looking to spend a packet.

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