New survey reveals public perceptions of car finance

Fri, 28 Jul 2006



What do you think is the best way to finance your new car ? That is the question being asked by popular motoring website MotorTorque. Their survey presents finance options (cash, personal loan, credit card, contract hire/leasing, Hire purchase and personal contract purchase) and invites respondents to choose what they think is the best way to finance the purchase of a vehicle .

Buying a new car is never going to be an easy decision, but having the cash in the bank to do it can instil confidence. Perhaps that is why 61 per cent of Motor torque respondents believed Cash to be the best way to finance a car. Personal loans, Hire purchase and Contract Hire/Leasing were also found to be popular, with around 10 per cent of the vote each. The least popular means to finance buying a vehicle were found to be on credit card or personal contract purchase.

Different car finance options open up different repayment plans and ownership privileges. When considering how to finance their vehicle, would be buyers should consider how long-term they want the car to be, and choose the best finance method to save the most money .
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