Fears of crisis in UK car finance market as owners seek payments help

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As car sales plunge by almost half lenders offer repayment breaks or waive interest to halt ‘handbacks’

Fears are growing of a crisis in the UK’s £75bn car loan market, where 6.5m vehicles have been financed through leasing deals with monthly payments that are already proving unaffordable for some laid-off as a result of the coronavirus.

 

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This insane, utterly wasteful model is part of the reason we have so many cars on the road. Good riddance.

Time to end this insane funding model

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