Car Finance Still Available Despite Debt Still Rising

Jul 19 2010

The recent recession has hit many UK citizens extremely hard, leaving many house owners, car owners and businesses in a desperate struggle for survival and with very little disposable income. Although the end appears to be on the horizon, it has left the country with an astonishing level of debt.

12 months prior to the end of April 2010, UK banks and building societies had written off approximately £9.6bn of loans to individuals and from January- April 2010 £2.6bn has been written off to which £1.25bn was in credit card debt. Even with these levels of debt being written off the UK’s personal debt still stood at £1,460bn at the end of May.

In order to survive many people have had to take out loans from their banks to help them through those difficult times to pay off mortgages, credit cards etc. In May 2010 the total lending figure rose by £1.5bn, secured lending by £1.2bn and the annual growth rate of consumer credit rose by 0.1% to 0.0%. In many cases people have had to cut back their spending and this has led to missed payments of loans and left them with poor credit ratings. This has ultimately affected consumer from being able to gain more credit from a variety of different loans both secured and unsecured.

Throughout Britain’s financial crisis, Creditplus has used its vast experience in the Car Finance industry to continue supplying loans to customers with varying credit ratings. With over 30 lenders to choose from Creditplus has the best chance of securing consumers with car finance, even if they have adverse credit histories.

Creditplus aim to let every customer drive away in the newest vehicle possible which is purchased using car finance. With a team of industry experts Creditplus can tailor deals to suit the customer perfectly with low interest rates and monthly payments. They also source the vehicle for the customer taking the hassle out of buying a car and securing vehicles at trade prices for the customers.

By applying online you will save valuable time and money and you will also benefit from our instant online quote decision, the only true instant decision tool in the industry. You also have the ability to find a car yourself from a dealer or our sales advisors will find you a vehicle to your specification and negotiate the best possible terms for you.

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