According to a recent report by
motoring association the
AA, consumers considering purchasing a new or
used car are intending to use a smaller budget, whether paying
by
cash or
car finance, than they were just six months ago.
According to the AA, that average budget has fallen from £9,827 to
£8,851, meaning those looking for
cars will be spending slightly less, whether using
personal loans,
dealer finance or paying cash to purchase a
vehicle .
A flurry on
car finance is expected in March, when the new
registration plates are due to come out. The head of
AA Personal Loans, Mark Huggins, reportedly commented: A
third of buyers
finance their
car purchase with a
loan, so it's important they shop around for the best
loan rate, too.