'Better information' for car loan customers buying a used car

Apr 24 2008

Motorists on the lookout for a used car can take heart in an improvement to an industry-standard guidebook.

Anyone considering a new car loan and browsing forecourts could be interested in the addition to the Black Book guide produced by CAP.

The motor trade bible now has CO2 emission information and tax band data on thousands of used models.

Operational development director at CAP Mark Norman said: 'One of the main purposes of Black Book for the trade is to create transparency and reduce risk when buying or selling used car stock.'

The extra information could benefit Car Finance customers as sales people are likely to be better informed about vehicles following the book change.

CAP said the data will mean buyers can make better decisions about used cars as certain models may end up costing more to tax over a period than the cost of their forecourt price.

Mr Norman also said dealers should bare in mind the emissions of cars and their tax bands are becoming as important as sale prices to car finance customers on the lookout for a used car.

CAP is an automotive information analysis firm providing a wealth of research and advisory services to the industry.

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