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This 788-word blog post reports on findings of research by Admiral. The study reviewed dealership finance agreements and charges when returning a vehicle at the end of the contract. The article looks at how drivers could find themselves with a bigger bill if they fall victim to additional upfront and end of contract charges. Written on 18 February.
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For most of us, the biggest purchase we will make is buying a home. The second largest is often purchasing a car.
When we buy cars, typically these purchases are made with car finance.
Around 2.4 million people spent a total of £37.6 billion on car finance last year, spending an average of £15,500 each.
But drivers could find themselves with a bigger bill if they fall victim to additional unbudgeted upfront and end of contract charges.
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