I EXPOSED THE CAR FINANCE SCAM

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In this video we explore the Finance scam which mis-sold finance to millions of customers and how you can get money back. we also learn how to save money on finance and try to buy Jayne her dream car

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Massive thanks to:

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Mark McCann:

Filmed and Edited by:

[MarkMcCann]

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[MrFoxxRaven]

Do insurance next please mate, I'm sure you could find a litany of dodgy deals and insurance companies gouging the life out of us.

[rodgertim]

Poor people buying a new car instead of getting a used one.

[tnxl]

This man is on a streak.
Banger after banger

[panoply]

I bought an Audi S4. Paid 50% with my own money from sale of previous car and got a bank loan for the other half at a rate way lower than car finance companies offer. No mileage limits, loads of interest saved.

[macbitz]

The crazy thing is that all the figures have always been there in black and white, all buyers had to do was read the paperwork. Very easy to figure out what the total cost of a car is on finance, but buyers just got caught up in the whole 'new car' thing and threw commonsense out the window.

[PipoLipo]

Feel so much better for Jane. Was really stressed she couldn’t have her special car when all you have is 10-15 cars in the garage to choose from

[CleanTeamSolutions]

Financing cars is ridiculous and shows the level of financial illiteracy in the UK.

[Allaboutdisinformation]

So let me get this straight, £143, 000 for the car outright. Even on the new cheaper interest rate of just under £40, 000 you’re paying £182, 000 for that vehicle. So that equates to 28% extra, roughly a third more that you’ll be paying. I can’t see the logic in that at all.
Just want to add this is a general comment and I highly rate Mark’s YouTube content.

[jaheermk]

Love the car journalism video please make more mark!!!! So many people get scammed in the uk

[Andy-gti]

Buying a new car on finance is so stupid and something i would NEVER do... The minute you drive out out of their garage, you start losing the money and never ever get it back once you sell it again

[anonymoushuman]

I never finance anything. Just walk in there and do a bank transfer. I was shocked Porsche and Mercedes even pushed me to get their financing.

[bradcoram]

Top financial tip: Stop trying to impress your neighbours and buy a car that you can afford using cash.

[KRM]

If your planning on using the Master Plan detailed in the video please do your own research before committing

‘Cooling off’ period is different to ‘withdrawing’ from finance

‘Cooling Off’ - refers to distance selling regulations (you purchased a vehicle on finance without seeing the vehicle before hand and you return the finance & the vehicle back)

‘Withdrawing’ - Exiting the finance agreement but keeping the vehicle (payment required in full)

There are lots of reasons / regulations as to why someone cannot ‘withdraw’ from a finance agreement. All of which are covered in the European Consumer Credit Directive.
E.g. you purchase the vehicle via your company / partnership or the value is over £60, 262

Please be careful before committing to a deal just to purchase your dream car

[Heartofaloin]

I've never had finance on a car. Work hard and save even if it takes afew years. Never pay the screen price. Remember it's just a car. It's not worth getting into debt for a piece of metal no matter what it is

[melvinbarreto]

One of the best channels out there, really focusing on niche topics everyone is wondering about.

[g-man]

I don't get it... you're still paying 9% APR which is ridiculous for a depreciating asset. If you can't afford it outright - don't buy it, it's as simple as that. Obviously there are some exceptions like people who need cars for work but a vast majority of people are buying it for the sake of convenience and can easily go without that luxury

[jaden]

Mark you truly do the lords work here on the channel fun content, exposing criminals and scams while still keeping a happy family and fan base thanks for all the hard work man

[Nurwin]

The trick is to no finance a car! And buy the best car you can for the money you have there are some amazing cars to be had for less than 8k. Granted they are not new but who cares a lot of cars get damaged these days I'd have anxiety attacks owning a new car in the UK.

[cp]

You’re making great videos investigating these scams and car theft issues. You’re also helping people be better aware. 👍