Car finance insight from Halifax

Mon, 25 Feb 2008



Halifax unsecured personal loans have released a series of statistics related to UK car market, which may be of interest to car finance customers in the UK.

The Halifax research found that used cars remain more popular than used cars, women tend to spend more upgrading their vehicle, and young people will pay more for car modifications.

Halifax found that almost 60 per cent of people in the UK would use funds in their current or savings account to purchase a car, without resorting to a personal loan or dealer finance .

The Halifax also reportedly found that over half of all motorists would rather purchase a second-hand car . The head of Halifax Unsecured Personal Loans, Neil Chandler, was reported in the news as commenting: "Whatever your reason for taking an unsecured personal loan, with Halifax you'll have no monthly repayments for the first three months."
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