The Bank of England is warning companies who offer finance deals to buy cars to make sure any loan is properly sold and that it takes account of affordability. The Bank is concerned about the rising amount of debt consumers are taking on to buy new vehicles. British motorists currently owe £58 billion on the cars they drive, and there are concerns that if too many default on car loans, another debt crisis could follow. An experienced car salesman has told Money Box that some dealerships are paying high commission to staff who sell a finance deal as well as a car. Commission payments have often been the cause of mis-selling scandals. Money Box reporter Tony Bonsignore investigates!
Newspaper headlines this week have been shouting about a crash in the housing market. Massive collapse! Property prices could plunge! We hear from the man quoted in many of those stories, Professor Paul Cheshire of the London School of Economics, (who is not too pleased with how his thoughts have been repres