Statistics show cases of motor fraud fall
Thursday 01 September 2011 | By Evolution InternetBack to Newsroom
Companies looking to lease Toyota Hilux pickups may be interested to hear that instances of motor fraud have fallen in the last 12 months.
New data from the Finance and Leasing Association (FLA) revealed there were 835 cases of false information being provided on applications for car finance during the last year.
This is down 12 per cent on the previous 12 months, while just 250 cases of fraud went undetected by motor finance companies.
Paul Harrison, the FLA's head of motor finance, said: "Application fraud increases in tough economic conditions, as people know that it can be difficult to get finance if they have a poor credit history, or an unsteady source of income."
However, he warned individuals considering making a false application that if uncovered they will be reported to the police and prosecuted.
The news comes after the FLA recently claimed that new figures show an increasing number of motorists are turning to long-term car leases.
