New car registrations continue to climb

Fri, 05 Mar 2010



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 ."
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