The video says many car buyers use hire-purchase financing and cites about 180,000 vehicle repossessions in the previous year compared with around 300,000 in 2023. These figures are presented as claims made by the speaker; this article does not verify their source or counting method.
What the video discusses
The program talks about hire-purchase car loans and gives repossession figures for 2023. They should not be treated as current statistics.
Scope of this summary
Repossession totals and lending conditions change over time and depend on how the figures are defined. Check information from relevant associations or regulators and review the hire-purchase contract before using figures for financial planning.