Car company finance booming

Mon, 11 Aug 2008



According to reports from leading UK car manufacturers, the popularity of car finance loans from manufacturers are soaring in popularity.

Higher costs of living and tighter lending criteria from high street lenders has lead to more and more consumers taking out car loans from vehicle dealerships and direct from car manufacturers.

Five months ahead of schedule, Volkswagen announced that they had reached 2008 car loans targets, despite overall falling car sales . The managing director, Graham Wheeler, reportedly commented: "We put our success down to the fact that we have more available funds and can move faster than other financial organisations. Long-term planning means the credit crunch is not affecting our lending abilities."
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