A QUARTER of used cars on sale have a hidden finance history that could leave buyers out of pocket and without a motor.
Brits struggling to meet monthly repayments are ditching their cars and not paying off the settlement figure when they sell it.
It means that when a new buyer gets the keys they could still lose their car.
They might be listed as “registered keeper” with the DVLA – but they’re not “legal owner” in the eyes of the law.
That right is still held by the finance company and they’re able to reclaim the motor at any time.
That’d leave the new owner out of pocket and without a car.
Exchange and Mart said the huge rise in hire purchase and personal contract purchase (PCP) deals means one in four cars on the used market still have finance owed against it.