Car-Buyers Must Check Finance Options, Says RMIF

'Before committing to the purchase of a vehicle, a full understanding of APR rate, payment terms and the total cost of purchasing is essential,' said Sue Robinson, Director of the RMI National Franchised Dealers Association (NFDA) - part of the Retail Motor Industry Federation (RMIF) - commenting on the Trading Standards Institute's (TSI) warning today that 'eager young motorists are running up huge debts after being persuaded to take on high interest credit when buying a car'

'The vast majority of consumers already take adequate safeguards before committing to finance - however, some buyers are caught by inappropriate and costly finance agreements.'

Robinson ended: ' When looking to buy a car, consumers should shop around for the most appropriate finance package - dealers will be able to help in locating the best options. The Government's own consumer-facing website www.consumerdirect.gov.uk lists the RMIF as a reputable body to deal with, whose members adhere to a Code of Practice. We also offer consumers the reassurance of an impartial conciliation service should there be any cause for complaint.'