Could car finance be defying the credit crunch

Despite numerous reports in the car finance news that car sales (both used and new) have fallen, car finance could be one of the few industries that is defying the credit crunch.

The first half of this year, as reported earlier in the month on this site, saw car finance companies reveal surprising sales figures. It appears that drivers may not be being as affected by the credit crunch as other sectors, such as homeowners .

The car supermarket group Motorpoint indicated that their Personal Contact Purchase Plan put on a spurt of new sales during 2008. The managing director of the company, David Shelton, reportedly commented at the time: We are finding that our highly-affordable point of sale products ... are proving extremely popular, enabling customers to drive a car that their budget wouldn't ordinarily allow.

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Could car finance be defying the credit crunch

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