Vehicle Finance Levels Rise Again

Vehicle data expert CARTELL.IE reports that the proportion of vehicles offered for sale (across all years) with finance outstanding is 14.3% – up from 12.5% in July 2017 and 11.5% in January 2017. From a sample of over 5,906 vehicles offered for sale and checked via the website in 2017 it was found that overall levels of finance have increased 24.3% in 12 months since January and 51% in 18 months since June 2016 when the rate recorded was 9.5%.

Graph 1: Historic Percentages of Vehicles with Outstanding Finance checked on (Source: Carstat,

John Byrne, Legal and Public Relations Manager,, says: “In terms of the overall picture 14.3% of all vehicles checked with so far in 2017 have finance outstanding. This is up from 11.5% in January and 9.5% in June 2016. These are very significant jumps. To give you some idea where we are coming from the levels of finance outstanding was 7% in December 2014 meaning the rate has doubled in three years. A buyer is advised to check a vehicle for outstanding finance as the finance house owns the vehicle until the last payment has been made – the bottom line is that you can lose the vehicle.”

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