Debt bubble fears as one in ten drivers struggle to pay their car loan bills with half of them now reducing spending

Millions of drivers who have bought cars on credit are struggling to afford the payments, research shows.
Figures from the RAC reveal that a tenth of motorists are feeling the financial strain of keeping up with their car loan bills.
Almost half of these are cutting back on spending as a result, according to the research. Others have been hit with penalties for handing back their keys early because they cannot cope with the costs.
Experts said many customers were sold deals they do not fully understand, fuelling fears a soaring number of motorists could default on debts and trigger a... read more

20 January 2018 in Business, Views: 48
Source: Daily Mail

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