Glasgow drivers warned of finance fraud risk

Motorists in Glasgow have been warned to be wary of being caught out by car finance fraudsters when purchasing a used vehicle.

Car information body HPI has drawn attention to recent Finance & Leasing Association (FLA) research which shows the Scottish city is the second-biggest finance fraud hotspot in the UK after London.

It warned that those who fall victim to the crime – which involves people selling cars with outstanding finance against them which they therefore do not own – can often find themselves losing both the vehicle and the money they paid.

Nicola Johnson, consumer services manager for HPI, called on drivers to ensure that proper vehicle background checks are performed before they commit to purchasing a car.

She added: “Consumers need to join the fight against these villains.”

This comes after FLA figures released earlier this week showed that demand for dealer finance when purchasing a second hand car increased at a record rate in December 2009.

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