Car finance buyers are uninformed.

According to Which? Car magazine, car dealers are “taking customers for a ride” by not informing the customer clearly enough about how much interest they will pay on their car finance or loan.

The small print details that should be divulged into when taking out a car finance deal were not properly explained during an undercover operation says Which?
Out of the 15 dealerships tested, not one verbally informed researchers the total cost of the interest within the car finance agreement.

Which? Chief executive Peter Vicary-Smith states: "When you take out a mortgage, the bank or building society has to clearly state APR rates up front, and explain terms and conditions fully. We think car finance deals should be conducted in the same way"

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