I saw that BBC article. A definite black hole looming.
One comment also came across strongly was that after paying a deposit and monthly amounts at the end you actually own nothing. In effect it is a car rental deal. Actual ownership only comes about by paying the balloon top up at the end.
How many people will actually find this a financial positive? It appeals as a way of driving an upmarket car but at a cost.
Is it a case of over selling higher spec models otherwise unaffordable with buyers not really appreciating the full financial scenario?
PPI mis-selling type scandal ?
Short term financial gain for the finance houses, manufacturers and individual brokers/salesmen?
At some stage the second hand market will be hit with a glut of cars and values depressed.
