Next six months will see million car loans

Mon, 14 May 2007



According to Sainsbury’s Bank, the next six months will see almost a million second-hand car loans . Thousands of British people are set to look for car finance, with many choosing used vehicles .

Sainsbury’s Bank reported that as many as 5.5 million consumers in the UK will be looking for a used car in the next six month period, with around one in six looking for a personal loan to fund their vehicle .

According to recent research, British people are paying less for used cars, between £4,000 and £5,000. Steven Baillie, the loans manager at Sainsbury’s, reportedly commented: "People are anticipating spending less on their second-hand car purchase compared with six months ago, so it's important that they remember to haggle when negotiating any car purchase to secure the best deal."
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