Car credit 'is still available to buyers'

Feb 5 2009

Car Finance is still available to people who are looking to swap their current vehicle for a new one, it has been claimed.

Sue Robinson, director of the Retail Motor Industry National Franchised Dealers' Association, suggested that buyers could still gain access to Car Loans, despite reports to the contrary.

She highlighted the "vast improvement" in used car sales over the last month, claiming that consumer confidence "remains key" to the recovery of the car market this year.

This indicates that more unsecured car loans applicants are now looking to the second-hand market rather than buying brand-new vehicles.

However, Ms Robinson insisted that people could still get good deals on new cars

"In many cases new cars can offer equal value equal to used vehicles, when the savings provided through warranties are taken into account," she said.

Her comments come after the Society of Motor Manufacturers and Traders revealed that new car registrations fell by 30.9 per cent in January compared to the same month in 2008, with the market set to decline by a fifth during 2009.

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