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New tie-up boosts used car loans market in Ireland

Drivers in the Republic of Ireland will now be able to check the status of a used car before taking out a used car loan, thanks to a new partnership between Experian and the Society of the Irish Motor Industry (SIMI).

Drivers in the Republic of Ireland will now be able to check the status of a used car before taking out a used car loan, thanks to a new partnership between Experian and the Society of the Irish Motor Industry (SIMI).

The tie-up allows car buyers in the Republic of Ireland to enjoy the same benefits as those in the UK, reducing the risk of spending a used car loan on an unsuitable vehicle.

SIMI already demands that its dealer members are fair and honest with customers and the new agreement forms part of this commitment. The SIMI Car History Check will now enable buyers and dealers alike to pinpoint unfit vehicles, ensuring that used car loans do not go to waste.

Cyril McHugh, chief executive of SIMI, said: "For the first time, dealers in the Republic of Ireland will be able to give their customers greater reassurance when they buy a used car.

"The service has already gained a great deal of attention in the motor industry here and hundreds of dealers have signed up to it. They have recognised that there is a need for a service like this as it will provide greater protection not only for their customers, but also for themselves."

SIMI president Jim Cusack added: "This new website will give customers great reassurance when they are purchasing a used car. They should look for the new Car History Check Certificate which will be available for each checked vehicle, confirming its history."

As in the rest of the UK, those taking out a used car loan are advised to ask for a Car History Check Certificate, which should provide reassurance that the vehicle is fit to drive and ascertain whether or not there is any outstanding finance.

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