Car finance prices stay stable, say Defaqto

Wed, 01 Nov 2006



A new survey indicates that choosing car finance and car insurance could be less expensive if consumers purchase online. The research was conducted by the financial group Defaqto, and was included as a part of their new publication Motor Insurance in the UK – Adapting to Survive.

The report clearly indicates that car finance and car insurance providers would find it ‘almost impossible’ for car finance firms to further increase premiums and keep their market share healthy. Norwich Union hiked premiums last month, a move that Defaqto does not think will be followed.

The author of the report, the head of general insurance research at Defaqto, said: "The intense amount of competition in the market at present is keeping comprehensive premiums from rising despite well reported industry views that they must increase."

The motor finance news comes following a warning from insurer Lloyds TSB . The insurance company warned motorists to take extra care.
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