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Motorists seeking Car Loans or Car Finance may be interested to know that the Bank of England has decided to hold interest rates at 5.5 per cent.
After reducing the rate by 0.25 per cent in December, the Bank's monetary policy committee decided to keep rates unchanged in a bid to stabilise a fluctuating economy.
The Bank faced a tough decision and had to balance a slowdown in consumer spending against growing inflationary conditions.
Research earlier this week found that seven out of eight major financial institutions predicted rates would stay the same, a decision which will affect payments on car loans and van loans, as well as car finance.
The next decision will be made on February 7th.
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Interest rate cut 'must be passed on to car loans customers'
Dec 4 2008People considering applying for unsecured car loans could be buoyed by the latest interest rate cut from the Bank of England.
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Used car values increase for November
Dec 1 2008The overall average values of used cars increased to £4,283 in November, according to the latest British Car Auctions (BCA) Pulse Report.
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Car loans news: VED changes bring confusion
Nov 26 2008Secured car loans customers are still confused as to how vehicle excise duty (VED) is to be administered, an industry official has claimed.
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Mini tops value list for used cars
Nov 26 2008Buyers applying for unsecured car loans to fund the purchase of new vehicles may consider the diesel-powered Mini 1.
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Government u-turn 'good news for car loans customers'
Nov 25 2008The chancellor's decision to make changes to proposed road tax increases could benefit used car drivers, a source suggests.
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VAT cut to benefit car loans customers
Nov 25 2008Buyers applying for secured car loans as they hunt for a new or used vehicle could benefit from a VAT cut announced yesterday.
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'Positive incentives' for car loans customers
Nov 25 2008The Society of Motor Manufacturers and Traders (SMMT) has welcomed moves to help bolster the car industry in the chancellor's pre-budget report.
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Green car deals could reduce costs
Nov 21 2008Secured car loans customers looking to beat the rising costs of motoring could plump for one of the vehicles on a new list of top ten green cars to beat the credit crunch.
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Small Volkswagens defy the credit crunch
Nov 21 2008Despite falling sales across many sectors of the UK car market, demand for small Volkswagens continues to soar, a report suggests.
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Vehicle care pays off for car loans customers
Nov 21 2008Unsecured car loans customers looking to help preserve the residual value of their vehicles can do so by taking better care of them, a firm has suggested.
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