Car finance hope for dealers

Thu, 08 Jan 2009



Despite the economic situation slamming the car market, and pushing many car manufacturers into a difficult situation, restricted lending by banks and building societies could push more car finance customers to car dealers .

However, any benefits gained from having extra vehicle finance customers are likely to be pulled down by the slump in new and used car sales.

Sales manager of Derby Volkswagen, Mark Spindley, was reportedly commented in a local newspaper as saying: "We've noticed more people coming to us to finance their car purchases because they can't get loans through their banks."

Lower interest rates also allow dealers to offer cheaper finance, Spindley said.
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