Car loans for faster not greener motors

Mon, 20 Mar 2006



Car buyers are opting for high-performance rather environmentally-friendly vehicles, reveals new research from AA Personal Loans.

In spite of increasingly congested roads and concerns about pollution, less than a third of drivers spare a thought for the environmental impact of their car purchases.

Over 50 per cent of those questioned by the survey will finance a car based on its performance levels, while 40 per cent will purchase a vehicle that fits their practical needs.

The appearance of a car is not a top priority for consumers, with less than one in five financing a new car purely based on looks.

In the next twelve months, the survey found that six per cent of people were intending to replace their vehicle with something more environmentally friendly.

Many drivers also said they wanted to invest in a more reliable car model, reducing expensive trips to the mechanics. Another 22 per cent are keen to get a vehicle that puts them in a cheaper car insurance bracket.

Lloyd East from AA Personal Loans urges consumers to think carefully before financing a new car.

"Buying a car is amongst the biggest purchasing decisions people face, so it's well worth doing some research before you buy - not just the car, but how to finance it as well," he advises.

"After all, no-one wants to fall in love with their dream car, only to find they can't afford it."

Recent statistics reveal that there are already 30 million cars on the UK's roads and approximately one in three households now own at least two or more cars.

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