One in six acclimated cars on auction may be at accident of acknowledgment as they still accept accounts outstanding on them.
In a abstraction of a sample of 5,906 acclimated cars offered for auction and history-checked by agent history blockage website Cartell.ie, 16.6 per cent still had outstanding debt, acceptation the accounts provider was the ultimate buyer of the agent and not the seller. In December 2017 it stood at 14.3 per cent. In July 2016 the amount was aloof 9.5 per cent.
A agent for the Competition and Customer Protection Commission (CCPC) said: “If a customer purchases a car with outstanding accounts on it, the car could be repossessed by the lender, alike if the customer has already paid the antecedent buyer for it.
“Unfortunately, as the banking academy is the acknowledged buyer there are actual few options. Individuals may ambition to seek acknowledged admonition as to whether there are redress options accessible to them alone in adjustment to accompany the being who awash them the car.
“It is account acquainted that all Society of Irish Motor Industry (SIMI) dealers accept admission to a car history analysis account and they cannot advertise a car which has outstanding accounts on it. Consumers can additionally do their own absolute analysis on a car and there are a cardinal of companies who can analysis the history of a car.”
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