Quarter of 2-year-old cars for sale have finance outstanding

MORE than a quarter of two-year-old cars for sale have finance outstanding without the buyer’s knowledge, a new survey reveals.

According to Cartell, Ireland’s online car history checking firm, the scale of the problem could have serious financial implications for used car buyers.

Statistics published yesterday by cartell.ie indicate that buyers have a one in four chance of purchasing a two-year-old vehicle with finance outstanding. From a sample of more than 5,900 vehicles offered for sale and checked on the Cartell.ie site, the figures show that for 2008 and 2007 registrations, the percentage of vehicles on finance is 26% and 23% respectively.