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New cars losing out to used models?
Feb 12 2009More drivers may be investing in Car Finance to buy a used car rather than a new vehicle, as figures have shown little motivation among Brits to opt for the latest model.
According to figures compiled by vehicle information firm HPI and motor trade magazine Car Dealer, even a cut in VAT would not encourage 41 per cent of new car buyers to entice them to make a purchase this year.
"Confirming our worst fears, measures to incentivise buyers to the new market are failing. In total, a staggering 86 per cent of those we surveyed reported that the VAT cut had not motivated them to consider a new car purchase, adding to the intense pressure already faced by the motor industry," commented automotive director at HPI Daniel Burgess.
More consumers are likely to be wooed to the dealerships with special offers and promotions than the reduced tax levels, he added.
Mr Burgess went on to say, however, that used cars have been falling in value, ensuring that consumers who are in a comfortable car finance position can get "fantastic cars at fantastic prices".
In related news, British Car Auctions recently reported that values for used 4x4s are buoyant returning to the same levels as this time last year.
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Created Feb 9 2012
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Created Feb 7 2012
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Created Feb 4 2012
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London far From Becoming Electric car Capital of Europe
Created Feb 3 2012
The reluctance of British motorists to sign up for car loan deals on electric cars means only one thing: London is very far away indeed from its target to become the electric car capital of Europe.
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Those Awful Female Parkers
Created Feb 3 2012
When you signed up for your first car loan deal, your father might well have warned you against the terrible female parkers that you will come into contact with during the course of your driving career – and told you how to deal with them.
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Huge Increase in Speeding Fines on the Way
Created Feb 2 2012
If it wasn't for cheap car loans, many cash-strapped motorists would find it nearly impossible to keep their vehicles on the road.
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Toyota Hits Landmark 400,000 With Hybrid Car Sales
Created Feb 2 2012
In a recent landmark for low carbon vehicles, Toyota managed to surpass the 400,000 level with sales of its hybrid cars in Europe.
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Those Awful Female Parkers
Created Feb 2 2012
When you signed up for your first car loan deal, your father might well have warned you against the terrible female parkers that you will come into contact with during the course of your driving career – and told you how to deal with them.
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Huge Increase in Speeding Fines on the Way
Created Feb 1 2012
If it wasn't for cheap car loans, many cash-strapped motorists would find it nearly impossible to keep their vehicles on the road.
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Older Cars are Cheaper to Repair
Created Jan 31 2012
When you sign up for a car finance deal on a new car, you can be sure it is going to be more reliable than the one you traded in.
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