Car finance: the fast lane to debt?

Dealers are offering low deposits and mobile phone-style contracts that could mean bigger risks for buyers

A visit to the car showrooms around north London gives a stark illustration of how British consumers have driven themselves almost £60bn into the red.

Seemingly cheap financing deals offer the opportunity to drive away a brand new car less than two weeks from signing on the dotted line. There can be little or no deposit, while monthly payments from as little as £100 can stretch the bill over a two- to four-year period.

Related: What you need to know about car loans

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