Saturday, February 16, 2008
Consumers considering purchasing a car are doing so on a smaller budget than six months ago, reports the AA.
Those looking for cheap loans to buy a car may be interested to know that the average budget has fallen from £9,827 to £8,851.
It was also noted that five per cent fewer people were considering buying a car, compared to those asked at the same time last year.
The news could indicate customers are suffering under financial pressures, which is reinforced by the fact that 25 per cent more people are buying used cars, compared to three years ago. Car finance deals could help those manage their payments.
Head of AA Personal Loans Mark Huggins said: "A third of buyers finance their car purchase with a loan, so it's important they shop around for the best loan rate, too."
Researching the best financial deal was also brought to the fore in a report by Sainsbury's Bank which showed that not haggling when buying a new car could mean motorists pay £1,500 more than those who fight to lower the price.
Source : http://www.startagainfinance.com/news/loans/car_finance/Car_Budgets_are_Lower_18467767.htm
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