According to
car finance news from the Society of
Motor Manufacturers and Traders, registrations of
new cars climbed by 26.4 per cent during February, compared to
the same month last year. The increase was the eight consecutive
months in which
new car registrations climbed, a trend possibly caused by the
car scrappage scheme .
Although the
car scrappage scheme is due to end this month, the chief
executive of the SMMT said that the positive influence of the
scheme would extend beyond its closure. The increased demand has
not only boosted the car industry, but also increased the demand
for
car loans and
vehicle finance .
Paul Everitt, the chief executive of the SMMT reportedly commented:
In recent months we`ve seen car
finance levels increasing, which suggests that
car loans are a fair bit easier to obtain than some people may
have realised. This should be good news for anyone thinking about
buying a car on finance .
