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Crashing car prices are leaving thousands in 'negative equity' |
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Written by Karl
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Tuesday, 06 January 2009 21:11 |
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 Experts have warned that plunging car prices are leaving thousands of motorists in 'negative equity' on their vehicle loans. Many predicted future values on which car finance deals are based are well above what the vehicle is now worth leaving many motorists who opted for PCP finance having to hand back their cars .Its estimated that the total shortfall between what is owed on car loans and the value of the vehicles could be as much as £272million.
This news comes as a blow to UK motorists who are already gripped by the recession, falling house prices and job security. It's never been such a good time to start Hypermiling.
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