According to a recent poll by leading
car supermarket and
car finance provider
Motorpoint, around two thirds of
motorists have changed their
car buying habits due to the
credit crunch.
Despite the
claim, Motorpoint reported sales up 7.6% year on year, largely
due to the need for people to choose
car finance as traditional
lenders tighten their criteria on
personal loans and other finance streams to purchase a
car.
The study indicates that just under 70 per cent of motorists will
hold off on replacing
their car due to financial uncertainty. The poll reached some
4,500 people. The Managing Director of Motorpoint, David Shelton,
reportedly commented:
With many people finding it difficult to source finance from
other lenders, we are finding that our
finance products such as Boomerang are proving even more
popular, helping to make changing a
car both easy and affordable for customers.
