Vehicle data expert CARTELL.IE has reported that more vehicles for certain key registration years are being offered for sale with finance outstanding than in 2019. From a sample of over 5,906 vehicles offered for sale and checked via the Cartell.ie website in 2020, the figures show that more than 35% of three-year-old vehicles are offered for sale with finance outstanding.

In the case of one-year-old vehicles (2019) the levels of vehicles offered for sale with finance outstanding is 34%. This means there is now a one-in-three chance of a one-year-old vehicle being offered for sale with finance outstanding. A similar percentage applies to three-year-old vehicles (2017) checked last year, with 35% being offered for sale with finance outstanding.
 
Jeff Aherne, Innovation Lead, Cartell.ie, says, “Buyers are strongly advised to be cautious in the market as you cannot take good title in the asset until the final payment has been paid to the financial institution. This means you may be buying a huge problem.”