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Consumer Watchdog To Begin Inquiry In To Finance Plans Used By Car Dealers.

: 07/17/2017 - 10:43

The consumer protection watchdog is to investigate finance plans used by car dealers.

The personal contract plans are complicated - with many car buyers getting caught out by a balloon payment needed at the end of the contract.

Other conditions can include not going over a certain mileage and guaranteeing the future value of the car.

The Competition and Consumer Protection Commission is also worried the cheaper price of monthly repayments on the plans may lead to a flood of second hand cars on the market.

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