MyCarCheck.com: Almost 1 in 10 used cars have outstanding finance
Almost 1 in 10 (9.32%) used cars checked through provenance checker MyCarCheck.com in 2016 had outstanding finance, the company has revealed
Outstanding finance on vehicles checked rose to 18.1% of all warnings, up from 13.8% in 2015.
Cars by Audi were mostly like to have finance left on them, with almost 13.98% remaining unpaid. Mercedes came a close second, as 13.43% of cars checked had outstanding finance.
The used vehicle checker said that the percentage of used vehicles with at least one warning increased to 28.5% in 2016.
Honda was the brand with the most write-offs, with 21.65% of all searches for the brand showing written off cars. Stolen cars were the lowest warning on average, with 0.92% of all car searches flagging this issue.
Head of mycarcheck.com, Roger Powell, said: “Buying a used vehicle should be exciting, but the private marketplace is especially fraught with risks.
“We need to get the message out that, for a tiny percentage of the overall purchase cost, you can confirm whether the car or bike you’re looking at is stolen, has been previously written off or has any finance debt against it.”