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  1. #281
    Burnout Burnout is offline
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    Fears that complex car 'hire-purchase' deals are leaving buyers vulnerable - Independent.ie

    Fears that thousands of motorists are taking out finance deals without being aware of the pitfalls have prompted the State consumer protection body to launch a new study.
    The Competition and Consumer Protection Commission said personal contract plans (PCPs) were now one of the most popular ways to finance the buying of a car.

    There are also concerns whether the lenders providing PCPs are regulated, and about the regulatory status of car salespeople offering the deals.

    Not regulated, how unusual.
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  2. #282
    artfoley56 artfoley56 is online now
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    Quote Originally Posted by Burnout View Post
    Fears that complex car 'hire-purchase' deals are leaving buyers vulnerable - Independent.ie

    Fears that thousands of motorists are taking out finance deals without being aware of the pitfalls have prompted the State consumer protection body to launch a new study.
    The Competition and Consumer Protection Commission said personal contract plans (PCPs) were now one of the most popular ways to finance the buying of a car.

    There are also concerns whether the lenders providing PCPs are regulated, and about the regulatory status of car salespeople offering the deals.

    Not regulated, how unusual.
    given the state of regulation here, would you feel any better if they were "regulated" ?
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  3. #283
    Orbit v2 Orbit v2 is offline

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    They were talking about this on the radio and said one of the things that prompted the study was a lot of questions from consumers, wondering whether or not they owned the car at the end of the contract. Which suggests that these people didn't understand what they were signing up to.
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  4. #284
    Vega1447 Vega1447 is online now
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    Quote Originally Posted by Orbit v2 View Post
    They were talking about this on the radio and said one of the things that prompted the study was a lot of questions from consumers, wondering whether or not they owned the car at the end of the contract. Which suggests that these people didn't understand what they were signing up to.
    About two years ago a Renault dealer here in Limerick had a setup where they had their cars (along with Dacia's) on display in the Castletroy SC.

    If you wandered over to have a look you were given the invitation to attend a meeting/sales pitch in their hq on the Dock Rd.

    They refused point blank to give me any info at the stand. A bit reminiscent of time share sales guys when on holidays.

    I didn't take up the invite ....
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  5. #285
    odie1kanobe odie1kanobe is offline

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    Quote Originally Posted by Orbit v2 View Post
    They were talking about this on the radio and said one of the things that prompted the study was a lot of questions from consumers, wondering whether or not they owned the car at the end of the contract. Which suggests that these people didn't understand what they were signing up to.
    Some people are thick as pig5hit and even when you explain that at end of the 3 yrs if you make a payment of €X they will still assume that at the end of 3 years the car is theirs and they don't need to make the payment.
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