Cars and car finance tempt consumers into debt

According to credit check agency Experian, cars are the most common reason that people give for falling into debt . Getting car finance on a relatively expensive vehicle can be easy, and Experian indicate that men are almost twice as likely to take this temptation as women.

The cost of living in the UK continues to soar, as does the cost of running a car . However, some third of UK adults admit that they care how people perceive them, and would go into debt to give off the impression of wealth.

The Managing Director of the Automotive Division at Experian, Kirk Fletcher, was reported in the news as commenting: The credit crunch is having a significant impact on consumer confidence across the UK, yet this survey highlights the fact that the consumer's desire for a car that projects the right image remains as strong as ever.

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Cars and car finance tempt consumers into debt

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