Press Release – Immediate Release
CAR BUYERS’ ONLINE GUIDE EXPOSES DIRTY TRICKS
Motorists and small businesses could save millions of pounds on new and used cars thanks to the launch of a revealing finance guide which lets them in on some of the shadier tricks of the trade. Industry expert Graham Hill’s sensational 200 page eBook, ‘An insider guide to car finance’, can be downloaded at http://www.carfinanceandleasinginfo.co.uk or click Buy eBook on left panel.
The book is being released to mark the ‘07’ number plate launch on March 1, and is likely to spark fury in a motor finance sector happy to profit from high interest rates and swingeing charges and penalties.
“This is the book the finance firms would like to bury – probably along with me,” admits Mr Hill, who has specialised in motor finance for nearly 20 years. “Every motorist should be armed with a copy of this book in order to beat the industry at its own game.”
He continues: “There is no regulatory authority responsible for vehicle finance, so customers are at the mercy of dealers, brokers and internet companies, none of whom are legally obliged to provide the best advice.
“This has been a hugely neglected area given that car purchases are the second-largest outgoing after their house for most families and individuals.
“Consumer and small business vehicle finance – including personal loans – accounts for more than £60bn a year. No wonder the banks, building societies and finance companies would prefer the information contained in my book to remain a secret, and outside the control of the Financial Services Authority. This is a long overdue opportunity for consumers to get a fair deal.”
Mr Hill runs West Sussex based GHA Finance, and is a well known author. He currently writes articles for various finance journals, and is known as ‘The Arranger’ in his monthly columns for Motor Finance, the journal of the industry.
Car financing arrangements will hit their annual high with the launch of the new plates in March, but Mr Hill believes that up to 70 per cent of this finance will be either inappropriate, or more expensive than it should be.
‘An Insider guide to car finance’ explains all the finance options in an easy to understand way, covers areas and methods to be wary of, and offers tips on securing the best deal.
“Contrary to popular belief, cash may not be the cheapest way to fund cars because consumers and small businesses can miss out on millions of pounds’ worth of car manufacturer bonuses hidden away in the monthly payments of a lease,” says Mr Hill.
“There are schemes to benefit motorists – but they’re often not offered them because greedy sellers are more concerned about making the greatest possible return and leaving the consumer out of pocket.”
The book explains the best time to buy a new or used car, and shows how it is possible to buy used cars which have been inspected by the RAC, have had mileage and accident checks, and possess full service histories, at virtually trade price. Mr Hill also says the ’07 plate’ launch marks a good time to buy as the market is awash with quality part exchanges.
He explains how a warranty repair can cost a fortune if customers don’t know what to check for, and how to avoid unwittingly buying none manufacturers’ specification black market vehicles from car supermarkets. There is also a section covering legal rights – including a little known law which may enable a consumer simply to hand back a car part way through the finance agreement.
And the book exposes some of the tricks which result in consumers paying far more than they thought they would – including personal loan and lease purchase scams.
“Customers armed with the knowledge contained in this book cannot help but save money, or negotiate a much better car deal than they have ever done before,” says Mr Hill. “If they’re not happy I’ll give them their money back.”
The February edition of Motor Finance praises ‘An insider guide to car finance’, saying: “Covering issues ranging from pre-registered vehicles to voluntary terminations and from personal loan scams to the hazards of credit fraud, the book aims to take the reader through the minefield of vehicle acquisition with the end result of ‘saving money and driving a better car’.”
Accountant and tax adviser Ken Newell said: “It’s an amazing book, absolutely essential reading for anyone considering finance for their next car, or even more important if they are considering paying cash. Even those already in a lease will need to know their legal position at the end of the lease in order to avoid excessive charges and penalties.”
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Notes for editors
Graham Hill is the chief executive of West Sussex based GHA Finance. He has been working in the leasing industry for more than 30 years, and has specialised in the motor finance sector for nearly 20 years. From 1991-96 he was founder chairman of the British Lease Brokers’ Association, and was also elected president of the National Association of Commercial Finance Brokers for 2002 and 2003.
He has provided training on vehicle finance, and has worked in a consultancy role with several leading funders including First National Vehicle Contracts, and Yes Car Credit. His first book, ‘The truth about contract hire’, was written in 1997 as an industry training manual. He writes for various finance journals, and is known as ‘The Arranger’ in his monthly column for industry journal ‘Motor Finance’.
For further information, please contact:
Graham Hill, chief executive, GHA Finance
Tel: 01444 235132
Mob: 07787 100431
Email: graham@ghafinance.co.uk
http://www.carfinanceandleasinginfo.co.uk
