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Buyers warned of outstanding finance dangers

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Motorists have been reminded of the importance of ensuring they only buy approved used cars when shopping for second-hand vehicles.

Of all the used cars on sale in the UK that were checked by vehicle information company HPI Limited, one in four were found to have outstanding finance on them.

Buyers are warned that a receipt of purchase will not be enough to prevent a finance company taking possession of the asset if the loan payments are defaulted on.

Nicola Johnson, consumer services manager for HPI, said: "So whether you are a first time buyer on a tight budget or someone looking to upgrade your current car, check the facts before you buy.

"If you don't you could face the car of your dreams being repossessed by the finance house that rightly owns it."

HPIs advice comes in support of Car Crime Awareness Week, which is being run by the Association of Chief Police Officers to educate the public about the various risks associated with car buying.
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