Dealer finance less than popular

Mon, 03 Sep 2007



According to an Auto Trader survey, car dealers in the UK are finding it even more difficult to sell car finance that they did a year ago.

To gain the results, AT surveyed 94 independent and franchised retailers. They found that some 60 per cent reported increased difficulty selling vehicle finance .

The change in dealer finance popularity likely comes about due to a much greater choice of low-cost car finance packages such as personal loans . Hire purchase agreements remain popular, and many buyers simply purchase with cash .

The head of marketing at Auto Trader, Jonathon Williams, reportedly commented: "Consumers are offered a wide choice of low-cost finance packages from the banks, credit card companies and leasing houses and as a result, they have become more discerning and savvy shoppers. The signs are that consumers will continue to shop online for the best deals."
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