Car dealers dangle better leasing plans and overtrades to woo customers

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Car firms tweak leases to get customers to hop in
In a bid to rev up business squeezed by loan curbs introduced six months ago, motor firms are starting to roll out no-frills car leasing plans which require lower monthly payments.

They come on the back of "traditional" leasing plans introduced as early as May to woo buyers.

But response from drivers has been lukewarm.

Car dealers dangle overtrades to ease downpayments
The "overtrade" is back.

The practice - in which motor firms offer substantially higher trade-in rates for used cars than market prices - was rampant in the 1990s when the Government first curbed car loans.

The overtrade is designed to help car buyers offset the high downpayment they have to make after new loan restrictions were introduced six months ago.