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Police catch out used car fraudsters
Jan 16 2009Police have brought an end to a car crime operation that saw buyers and unsecured Car Loans customers from across the country lose their vehicles to thieves.
Criminals set up a false car dealership, Metropolitan Recovery, making more than £1 million from unsuspecting buyers over the last four years.
The gang duped car loans customers into parting with their money to buy stolen cars, which they would then re-steal and sell on again.
A joint operation between the Metropolitan Police, HPI, and Exchange and Mart eventually brought the circle to an end, but the magazine's digital director Nick Lindsay was keen to point out the dangers to used car buyers.
"The growth of online buying and selling of used cars has been phenomenal, but the risks to the buyer remain," he cautioned.
Car loans customers looking to enter the used car market should therefore look to ensure that they "conduct the right checks" and remain vigilant to protect themselves against fraudsters, he added.
According to Parker's, the TOYOTA Aygo currently performs best in the used car market, with the vehicle coming out on top in a list of the UK's slowest depreciating cars.
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Cheap Car Loans and Fleet Sales are Helping the UK’s new Market
Created Dec 30 2011
Although car sales have taken a beating through much of Europe during the last couple of years, the prognosis for the UK car market in 2012 is considerably less dire, according to experts at Pricewaterhouse Coopers (PwC).
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Ford Plans to Double its Production in China
Created Jun 22 2011
Ford’s joint venture in China – Changan Ford Mazda Automobile – plans to soon double its annual production of car engines to 750,000 units.
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Insurance Website Names Most Dangerous Cars
Created Jun 20 2011
The popular insurance website Confused.
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FSA to Improve Complaints Handling Standards
Created Jun 14 2011
The FSA has announced a range of measures aimed at improving complaints handling standards.
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Financial Services Authority Cancels Retails Authorisation
Created Apr 21 2011
As most car finance buyers are probably aware, part of the responsibility of the FSA (Financial Services Authority) is to protect motorists against dangerous financial practices.
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Finance Becoming More Important in Car Purchasing
Created Apr 20 2011
In a recent interview with AM-Online, General Manager at BMW/Mini Financial Services, Joe Pattinson, expressed a number of opinions that are of interest to ordinary car finance buyers.
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Debt Recovery for Lenders Conference in London
Created Apr 6 2011
Those involved in the UK car finance industry will be interested to know that the FLA will be presenting a Debt Recovery for Lenders conference in London on the 18th May 2011.
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Duty Cut not Passed on to Drivers
Created Mar 30 2011
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Motor Industry Reacts to the Budget
Created Mar 29 2011
Reaction from the car finance and fleet industries to Chancellor Osborn´s latest "motorist´s budget" has on the whole been fairly positive.
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Japanese Disaster Hits Toyota Badly
Created Mar 28 2011
The ripple effect of the recent earthquake and subsequent tsunami in Japan is slowly being felt by manufacturers and auto loan buyers all over world.
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