www.alfaowner.com/Forum/general-motoring-discussion/1076138-car-credit-crunch.html
There are a number of issues though pervading the industry in general. These include:
Non regulated individuals effectively selling debt products
Punitive interest rates on approved used vs new cars in a market where the manufacturer controls supply based upon PCP returns from new
People not understanding what GMFV means and the fact that paperwork frequently uses terms such as "option to purchase" whilst salesman say "this is what it will be worth" and then customers getting a big shock at contract end time.
The fact that dealers are known to make overt statements about treating finance customers better
The fact that dealers will blatantly say they will only offer certain levels of discount as "deposit contribution" not as a reduction in asset value
As I say I have no problem with the concept of credit to drive sales but the selling of said credit is way overdue a review and change.
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