More and more people are taking out personal loans in order to finance deals for a new car, with new research showing that a third of consumers would take out a personal loan to finance such a purchase. Buying and running a car has become increasingly expensive in recent times, with sharp increase in petrol prices significantly increasing the cost of running a vehicle .
Consumers’ willingness to take out a personal loan to finance a deal for a new car is sensible according to recent research which shows that a personal loan can prove to be over £1,000 cheaper than a traditional car finance deal. Such savings are particularly important given recent data which suggests that the amount people are willing to spend on a car has dropped by nearly £1,000 in the past six months.
Personal Loans Increasingly Popular to Finance New Cars
Mon, 18 Feb 2008
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