Further car finance popularity

Thu, 03 Apr 2008



According to recent car finance news, car loans are proving popular with many borrowers who are finding competitive rates on both new and used car finance .

A recent Only Finance article, which quoted figures saying seven out of every ten cars are purchased with car finance, said that borrowers should not be afraid to invest time in finding the cheapest deal possible.

The article continued that dealers and private finance companies could find the right car, but their finance rates may not always be the most competitive in the market. The article also pointed to secured loans as a way of attracting lower interest rates .

How the car finance industry weathers the credit crunch remains to be seen. Despite initial anxiety that the higher levels of mortgage arrears and respossessions would filter into the auto loans market, no evidence to support these fears has been put forward for the UK vehicle finance market.
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